Agfa announces plan to adjust the cost base of its traditional film activities to the reality in the market - regulated information

November 14, 2024 – 7:45 a.m. CET

Regulated information

Agfa announces plan to adjust the cost base of its traditional film activities to the reality in the market

Mortsel, Belgium – November 14, 2024 – 7:45 a.m. CET

Agfa today announced a plan to adjust the cost base of its traditional film activities to the reality in the market. The company has the intention to thoroughly reorganize all aspects of the film-related activities, with the goal of achieving savings of 50 million euro by the end of 2027.

On November 14, the intention to reorganize the film-related business was presented to the social partners in Belgium at an Extraordinary Works Council meeting.

If the intended plan would be executed, this would impact up to 530 employees in Belgium. Blue-collar employees, white-collar employees as well as management positions would be affected. Its implementation would run over a three year period. Agfa intends to avoid as many forced redundancies as possible by using the natural outflow of staff and also by encouraging mutations and re-employment.

“While we are convinced that the proposed measures are necessary for the future of our company, we are also very aware that this message might cause anxiety and uncertainty among our employees. We will do our utmost to maintain a constructive social dialogue with the social partners involved and keep the period of uncertainty as short as possible,” said Pascal Juéry, CEO of the Agfa-Gevaert Group.

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About Agfa-Gevaert

The Agfa-Gevaert Group is a leading company in imaging technology and IT solutions with over 150 years of experience. The Group holds three divisions: Radiology Solutions, HealthCare IT and Digital Print & Chemicals. They develop, manufacture and market analogue and digital systems for the healthcare sector, for specific industrial applications and for the printing industry. In 2023, the Group realized a turnover of 1,150 million euro.

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