Strong euro takes bite out of Agfa Q1 revenue

The strengthening value of the euro resulted in lower revenue for Agfa, but the Belgian company reported that its Agfa HealthCare business performed well in the first quarter of 2018 (end-March 31).

For the period, Agfa's overall revenue fell 6.7% to 549 million euros ($655.3 million), compared with 588 million euros ($701.8 million) in the corresponding quarter of 2017. After adjusting for currency effects, however, the revenue decline was only 1.3%. Agfa's profit for the period was 7 million euros ($8.4 million), compared with a profit of 8 million euros ($9.6 million) in the first quarter of 2017.

The company said Agfa HealthCare saw improved sales of hard-copy film after the reorganization of distribution channels in China. The company did not break out specific financial numbers for the healthcare division.

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