Agfa Graphic Systems sales up 5.2 per cent as industry rebounds

The company reported that adverse effects on turnover of currency variations and price erosion were more than compensated by the improved market conditions in the graphics industry. The overall operating result amounted to 22.8 million Euros, compared to 23.3 million Euros in the third quarter of 2003.

The newspaper segment stood out for the company with a number of successes in the Asian region and a very large contract in Europe. The Daily News of Thailand converted to a full computer-to-plate workflow, the first newspaper to do so in Thailand.

During the quarter Agfa acquired platemaker Lastra and also expanded its portfolio of enterprise automation software by acquiring ProImage, a leading Israeli developer of browser-based digital workflow solutions for the newspaper and printing industries.

Early November, Agfa announced that its typography business, with 2003 revenues of 48 million USD, was divested to TA associates for a price of 169 million USD. This decision is consistent with Agfa' s strategy of fully focusing on strengthening its position in the pre-press market and of building a new growth platform in industrial inkjet printing.

Agfa expects the favourable trading environment in Graphic Systems to continue during the last months of 2004.