Agfa-Gevaert NV: A New Chapter in Corporate Governance and Growth

On Friday, February 28, Agfa-Gevaert NV held a Special General Meeting at its head office in Mortsel, Belgium, marking a significant milestone in the company's corporate governance and strategic direction. The shareholders approved the appointment of MJP Management Services BV, with permanent representative Mr. Michel Govaert, as an independent director for a period of 4 years. This appointment is expected to bring valuable external perspective and expertise to the board, contributing to the company's growth and success.



The company's financial performance in 2023 reflected the strong performances of its growth engines, HealthCare IT and Digital Print & Chemicals divisions. The Group's gross profit margin improved to 31.2%, and adjusted EBITDA increased significantly to 76 million euro (6.6% of revenue). The growth engines more than compensated for the decline in traditional film activities, which were under pressure from challenging economic conditions and geopolitical circumstances.

Agfa-Gevaert NV's strategic direction is focused on future-oriented activities, such as the ZIRFON membrane business for green hydrogen production. This business grew exponentially in 2023 and started to contribute to the Group's profitability. The company is also investing in innovative solutions to drive growth and mitigate the impact of the decline in traditional film activities.

The appointment of MJP Management Services BV as an independent director is a testament to Agfa-Gevaert NV's commitment to enhancing its corporate governance and strategic direction. The company's focus on growth engines, future-oriented activities, and stringent cost management has enabled it to improve its financial performance despite the challenges faced by the traditional film activities. As the company continues to navigate the evolving market landscape, its shareholders can be confident in the company's ability to adapt and thrive.