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17 March 2021
Agfa Contemplating Sale or Merger of Offset Division
BELGIAN—
Agfa has said it is “ready to contemplate” some sort of sale or merger of the group’s offset business in the face of overcapacity, a declining market and the price pressures that are affecting the group and its rivals. Several months ago Agfa announced a restructure at its Offset business that would result in the operation being made a separate legal entity. Offset Solutions is Agfa’s biggest business division, accounting for 41% of
overall group sales, down 13.5% on the prior year. Adjusted EBITDA fell by 35.7% . Sales at Offset Solutions fell by 16.5% . The group said that its performance improved in Q4, with sales recovering from the second half. Agfa has said that it believed “current pricing levels in the [printing] industry are not sustainable”, and it is looking at ways it can adapt its pricing model for certain services it provides to customers.
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