Agfa-Gevaert - DPC disappointing
Agfa-Gevaert published its H1 23 results. Main disappointment is the profitability in DPC with ajd. EBIT coming in negative again. Revenues in Radiology came in below expectations as well. In Healthcare IT, as expected, profitability remains below 2022 levels, but we should see an improvement quarter by quarter this year. We await feedback from the analyst meeting, but we might need to review our estimates and TP following today's results. Buy reiterated.Agfa-Gevaert develops, produces and distributes various analog and digital imaging systems and IT solutions, mainly for the printing industry and the healthcare sector, as well as for specific industrial applications. Co.'s operations can be divided into three business segments: Agfa Graphics, which provides integrated prepress products and services to the printing industry; Agfa HealthCare, which provides diagnostic imaging and healthcare IT products for hospitals and care centers around the world; and Agfa Specialty Products, which supplies a variety of film-based products to business- to-business customers outside the graphic and healthcare markets.
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