Agfa-Gevaert NV

Agfa-Gevaert reported a resilient performance in the second quarter of 2026, with group revenue nearly stable at 275 million euro, a 0.7% decline excluding currency impact, and adjusted EBITDA rising to 14 million euro from 13 million euro a year earlier. The company's savings programs delivered annualized savings of 61 million euro by the end of Q2, offsetting the impact of the cloud transition in HealthCare IT and soft market conditions for Green Hydrogen Solutions. HealthCare IT saw its 12-month rolling order intake jump 27.5% to 192 million euro, with cloud technology now representing 51% of total order intake, up from 4% in Q2 2025. Within Industrial Solutions, Digital Printing Solutions grew 10.8% excluding currency, but Green Hydrogen Solutions plunged 77% due to market weakness. Imaging and Chemicals revenue rose 2.6% excluding currency, with adjusted EBITDA surging to 8.9 million euro. The group posted a net loss of 15 million euro, versus a profit of 30 million euro in Q2 2025, which had benefited from a 38 million euro arbitration award. Free cash flow was negative 10 million euro, and net financial debt excluding IFRS 16 rose to 74 million euro. Agfa-Gevaert also noted that a German court annulled a prior arbitration award in the AgfaPhoto case, and the company has appealed to the Federal Court of Justice, a process expected to take 12 to 15 months.