Agfa-Gevaert has posted mixed results for 2016; the group saw a 4.1% drop in revenue but a 1.7% jump in gross profit and a recurring Ebitda margin above 10% of revenue.
For the full year to December 2016 the group recorded revenue of €2.54bn, down from the €2.65bn recorded in 2015.
Recurring Ebitda – the sum of the Graphics, Healthcare, and Specialty Products divisions as well as the unallocated portion – improved from 9.1% of revenue in 2015 to 10.4% in 2016.
Gross profit jumped from €843m to €857m – and to 33.8% of revenue, up from 31.9% last year. The company attributed its improved gross profit margin – at its highest level since 2010 – to targeted efficiency measures and positive raw materials effects in Agfa Graphics.  Revenues in Agfa Graphics dropped by 6.7% to €1.27bn, although the group said the inkjet segment’s full-year top line remained stable and the order book for this segment started to show some improvement towards the end of the year.
In the pre-press segment, the digital CTP business was affected by “severe competitive pressure in the offset markets” and market softness in certain emerging countries.  Agfa Graphics did however improve its gross profit margin from 28.3% of revenue to 29.8%, due to competitive pressure effects being offset by structural efficiency measures and positive raw material effects.
Across Agfa-Gevaert’s other divisions, sales in Healthcare fell by 0.8% to €1.09bn, with recurring Ebitda up 9.3% to €146.5m.
The Specialty Products unit, which develops items such as printed circuit boards and synthetic paper, experienced a drop in revenue of 4.8% to €180m and a small drop in Ebitda of 1.2% to €16.5m.