Agfa-Gevaert: Growth Engines Revving Up, Film Market Fading Away!

Ladies and gentlemen, buckle up! We're diving into the world of Agfa-Gevaert, a company that's showing us what it means to pivot and thrive in a changing market. The Agfa-Gevaert Group just dropped its 2024 results, and let me tell you, the growth engines are ON FIRE! But first, let's talk about the elephant in the room—the traditional film market. It's fading away, folks, and Agfa-Gevaert knows it. They've got a plan, and it's all about cost savings and focusing on what's hot—HealthCare IT, Digital Printing Solutions, and Green Hydrogen Solutions. Let's break it down!

HealthCare IT: Cloud is King!

Agfa-Gevaert's HealthCare IT division is killing it in the cloud segment. We're talking a 32% increase in order intake for FY 2024, with 27% of those contracts being cloud-related and 33% being net new customer contracts. That's what I call a cloud takeover! And the cherry on top? They snagged three prestigious KLAS Awards, including two #1 Best in KLAS Awards and the KLAS Most Improved Software Product for 2025 Award. This division is a no-brainer—it's all about growth, growth, growth!

Digital Printing Solutions: Printing Money!

Next up, Digital Printing Solutions. This division is printing money, literally! They saw a 7.3% full-year top-line growth, with accelerated double-digit growth for Green Hydrogen Solutions and Digital Print Solutions. The adjusted EBITDA increased by 65%, resulting in an adjusted EBITDA margin of 7.0% of revenue. That's what I call a money printer!

Green Hydrogen Solutions: The Future is Green!

And then there's Green Hydrogen Solutions. This division started as an R&D project and has evolved into a thriving start-up with continuous and robust sales growth. Their ZIRFON membranes have set the industry standard and are utilized in the world’s largest hydrogen projects. This is the future, folks—green energy is where it's at!

Traditional Film Market: The Writing is on the Wall!

Now, let's talk about the traditional film market. It's in decline, and Agfa-Gevaert knows it. The Radiology Solutions division, which includes medical film, saw volumes follow the accelerated decline of the market. But here's the thing—they're not sitting back and taking it. They've got a cost-saving program in place to align their cost base with the declining market. They're aiming to reduce costs by 50 million euros by the end of 2027, with initial savings expected in the second half of 2025. That's what I call a proactive approach!



The Bottom Line: Buy, Buy, Buy!

So, what's the bottom line? Agfa-Gevaert is a company on the move. They're pivoting away from the declining film market and focusing on growth engines that are printing money. HealthCare IT, Digital Printing Solutions, and Green Hydrogen Solutions are the future, and Agfa-Gevaert is all in. You need to be too! Don't miss out on this opportunity—buy, buy, buy!