AGFA-Gevaert Group’s top line decreased by 4.4 percent due to the current corona pandemic and the company is refocusing on higher margin activities in several business areas. According to a statement from its headquarters in Mortsel, AGFA ink product ranges have been performing well. But one other side, many companies are postponing investments in high-end large-format printing equipment due to the COVID-19 pandemic. As this market almost came to a standstill in March, a strong COVID-19 impact will also be visible in the coming quarters, the statement mentioned.
Apart from the adverse conditions, AGFA still considers inkjet as an important growth engine. The company continues to explore promising business opportunities in new market segments. In the first quarter, AGFA entered into a strategic partnership with TFL for the development of Alussa, a dedicated inkjet printing solution to decorate high-quality genuine leathers used by the fashion, upholstery, automotive, aviation and nautical industries. AGFA has also introduced the Oberon RTR3300, a 3.3m high-end roll-to-roll machine. Despite some impact of COVID-19, the company has delivered a solid set of results and generated strong cash flows.