Agfa intends to further restructure its printing business with plans to make its Offset Solutions wing a separate legal entity and streamline its product range
Offset Solutions includes printing plates and film and its last full year results, for 2019, was Agfa’s largest business unit with sales of €843m (£746m), accounting for 38% of sales at the €2.24bn turnover group.
Prior to the Covid-19 pandemic Agfa had been wrangling with a number of challenges at the division, which was Agfa’s only business unit not to deliver underlying profit growth in 2019. Adjusted EBITDA at Offset Solutions fell from €41m to €16.5m and the unit made a €1.4m loss at the adjusted EBIT level.
On January 20th Agfa’s board agreed to put the Offset Solutions activities into a standalone legal entity, within the Agfa-Gevaert Group.Agfa is understood to have been working with Boston Consulting Group on a group-wide basis since last year.