Regulated information August 22, :45 a.m. CET. Mortsel (Belgium), August 22, Agfa-Gevaert today announced its second quarter results.

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1 PRESS RELEASE Regulated information August 22, :45 a.m. CET Agfa Press Office Septestraat 27 B 2640 Mortsel Belgium Johan Jacobs Corporate Press Relations Manager T F E johan.jacobs@agfa.com Agfa-Gevaert publishes its second quarter results Strong performance of industrial inkjet and healthcare IT Gross profit margin improvement despite the still negative raw material impact Recurring EBIT at 32 million Euro Net result at minus 5 million Euro Mortsel (Belgium), August 22, Agfa-Gevaert today announced its second quarter results. Agfa-Gevaert Group second quarter 2012 in million Euro Q Q % change Revenue % Gross profit (*) % % of revenue 28.3% 29.0% Recurring EBITDA (*) % % of revenue 7.7% 6.8% Recurring EBIT (*) % % of revenue 4.7% 4.1% Result from operating activities % Result attributable to owners of 2 (7) the Company Net cash from (used in) operating activities (99) (13) Supported by positive currency effects, the Agfa-Gevaert Group s revenue increased by 2.1 percent versus last years second quarter. On the one hand, the Group s main growth engines (industrial inkjet in Agfa Graphics and IT in Agfa HealthCare) posted strong revenue growth. On the other hand, the situation on the traditional film markets continues to normalize. Thanks to the Group s efforts to improve operational efficiency, as well as the price increases for traditional film products, the gross profit margin continued to recover quarter-on-quarter. In spite of the still negative raw material impact, the gross profit margin also improved year-on-year from 28.3 percent in the second quarter of 2011 to 29.0 percent. Agfa-Gevaert announces second quarter results 1/8

2 As a percentage of revenue, Selling and General Administration expenses decreased slightly to 18.9 percent. The Group s recurring EBITDA (the sum of Graphics, HealthCare, Specialty Products and the unallocated portion) decreased from 59 million Euro to 53 million Euro. Recurring EBIT decreased from 36 million Euro to 32 million Euro. Restructuring and non-recurring items resulted in an expense of 11 million Euro, which is the same level as in the second quarter of The net finance costs amounted to 27 million Euro, versus 20 million Euro in Income taxes resulted in an income of 1 million Euro, versus an expense of 1 million Euro in A result attributable to the owners of the Company of minus 7 million Euro was booked, compared to 2 million Euro in Our second quarter results prove that we continue to deliver on our two key objectives. On the one hand, our industrial inkjet and healthcare IT growth engines are developing according to expectations. On the other hand, our efforts to improve our operational efficiency and our film price increases are paying off. As a result, our gross profit margin improved quarter-on-quarter, as well as year-onyear. We expect this positive trend to continue in the months to come, said Christian Reinaudo, President and CEO of the Agfa-Gevaert Group. Financial position and cash flow - At the end of the second quarter, total assets were 3,003 million Euro, compared to 2,949 million Euro at the end of Inventories amounted to 711 million Euro (or 116 days). Trade receivables (minus deferred revenue and advanced payments from customers) amounted to 482 million Euro, or 56 days and trade payables were 293 million Euro, or 48 days. - Net financial debt amounted to 306 million Euro, versus 313 million Euro at the end of the second quarter of 2011 and 291 million Euro at the end of the first quarter of Net cash from operating activities amounted to minus 13 million Euro. Agfa-Gevaert announces second quarter results 2/8

3 Agfa Graphics second quarter 2012 in million Euro Q Q % change Revenue % Recurring EBITDA (*) % % of revenue 6.1% 5.2% Recurring EBIT (*) % % of revenue 3.7% 3.0% With the industrial inkjet segment performing strongly, Agfa Graphics revenue increased by 3.2 percent to 418 million Euro. In prepress, the European computerto-plate (CtP) business suffered from the weakness of the economy and the sluggishness in the advertising market resulting from it. On the other hand, CtP performed well in the Americas and Aspac, partly because of the weakness of the Euro. In the analog computer-to-film (CtF) business, the evolution of the film volumes continued to normalize. In continuation of the upward trend observed in the previous quarter and in spite of the still negative impact of the raw material prices, the gross profit margin reached 25.8 percent, which is in line with the second quarter of The effects of the competitive pressure in CtP prepress and of the high raw material prices were counterbalanced by Agfa Graphics film price increases and operational improvements. Recurring EBITDA amounted to 21.9 million Euro (5.2 percent of revenue) and recurring EBIT to 12.7 million Euro or 3.0 percent of revenue. Without any doubt, the four-yearly international drupa trade fair (Düsseldorf, Germany May 3-16) was the highlight of the quarter for Agfa Graphics. At the show, inkjet sales accounted for more than 30 percent of the total order intake. In prepress, the many contracts signed for chemistry-free printing plates confirmed Agfa Graphics market-leading position in this segment. In the second quarter, numerous eye-catching contracts were signed, many of them at drupa or resulting from trade show leads. In prepress, one of the most important contracts was signed with the leading German WAZ newspaper group. WAZ ordered 8 platesetters and 15 clean-out units. The group will also migrate to Agfa Graphics chemistry-free :N94 VCF printing plates. In the USA, Southern Graphics Systems signed a major contract Agfa-Gevaert announces second quarter results 3/8

4 for Agfa Graphics :Thermostar P970 printing plates. The company provides services and printing plates to its customers in Minnesota and Iowa. In Venezuela, an agreement with Correa del Orinoco - the country s largest government newspaper - comprises equipment, software as well as printing plates. Dong-A ilbo, the 3 rd largest newspaper company in Korea, signed a 5-year printing plate contract for their two production sites. The wide-format and industrial inkjet portfolio was also very successful during drupa and the weeks following the show. At the show, orders were taken for numerous :Anapurna and :Jeti wide-format printers, as well as several :M-Press high-end inkjet presses. Serilon, the largest distributor of visual communication supplies and equipment in Brazil, closed a deal for no less than 14 :Anapurna systems. In the second quarter, :M-Press Tiger presses were sold to the French supplier of point-of-purchase advertising Constantin SA and to the US based industry leader in cardboard standups Advanced Graphics. Constantin also ordered a :Jeti Titan 3020 system. Among the new customers for the :M-Press Leopard system are RJ Design (UK), Koma Grafisk (Denmark) and Westcamp Press (USA). For its :M-Press Leopard press, Agfa Graphics received the EDP Award for Best Wide Format Imaging Printer. The EDP association groups publishers of leading European magazines devoted to digital printing and associated products. Agfa HealthCare second quarter 2012 in million Euro Q Q % change Revenue % Recurring EBITDA (*) % % of revenue 11.2% 10.3% Recurring EBIT (*) % % of revenue 7.2% 6.7% Agfa HealthCare s second quarter revenue increased by 3.4 percent versus the second quarter of In IT, both the Imaging IT and the Enterprise IT segments reported strong revenue growth. In the Imaging segment, the situation on the traditional X-ray film market started to normalize. The digital radiography business (consisting of Computed Radiography and Direct Radiography) was rather soft. Several countries in the growth regions are extending their accreditation processes Agfa-Gevaert announces second quarter results 4/8

5 for medical devices, which is somewhat delaying the introduction of CR and DR equipment in their healthcare facilities. IT performed particularly strong in Germany and the North of Europe, as well as in the growth markets. Business in the South of Europe continued to suffer from the recession. Continuing the positive trend of the past quarters, the gross profit margin reached 36.3 percent of revenue, versus 34,8 percent in the second quarter of The improvement reflects the diminishing impact of the high raw material prices, as well as Agfa HealthCare s efforts to support its profitability. Recurring EBITDA amounted to 30.8 million Euro (or 10.3 percent of revenue). Recurring EBIT reached 20.1 million Euro, or 6.7 percent of revenue. In the field of Imaging, Agfa HealthCare signed a new three-year CR contract with Novation, a leading healthcare supply contracting company in the USA. Through the contract, Agfa HealthCare is able to offer its CR systems to over 65,000 healthcare organizations in the USA. Recently, Agfa HealthCare introduced its DX-D Retrofit system to the market. DX-D Retrofit offers healthcare facilities a cost-effective solution to upgrade their existing film and CR based modalities to DR. In Imaging IT, Agfa HealthCare formed an alliance with Dell to offer a comprehensive cloud-based image management solution to US care organizations. Dell will host Agfa HealthCare s cloud clinical archive portfolio, including the newly released Imaging Clinical Information System (ICIS) platform. Through this partnership, Agfa HealthCare can offer its US customers simplified archiving, management and viewing of their medical images, thereby supporting them to image-enable the Electronic Medical Record (EMR). In April, Agfa HealthCare announced that it started to provide off-site hosting of its IMPAX PACS/RIS and long-term image archiving to the Orbis Medical Center in Sittard-Geleen, the Netherlands. The Solution as a Service (SaaS) is provided out of two data centers: one in Aalsmeer, the Netherlands and one at Agfa HealthCare s headquarters in Mortsel, Belgium. In Ontario, Canada, Agfa HealthCare successfully connected all 37 member sites of Hospital Diagnostic Imaging Repository Services (HDIRS). Agfa HealthCare s Agfa-Gevaert announces second quarter results 5/8

6 IMPAX Data Center and enterprise viewing technology allows connected physicians to view all diagnostic images and reports within the HDIRS network. In Waterloo (Ontario, Canada), Agfa HealthCare officially opened a new, state-ofthe-art R&D facility. The facility will play a key role in the development and worldwide introduction of advanced imaging IT solutions. In the field of Enterprise IT, Agfa HealthCare launched its HYDMEDIA solution to the Canadian market. HYDMEDIA enables healthcare organizations to integrate all their paper-based and electronic information, creating a complete digital archive of patient records. Agfa Specialty Products second quarter 2012 in million Euro Q Q % change Revenue % Recurring EBITDA (*) % % of revenue 4.5% 3.8% Recurring EBIT (*) % % of revenue 2.8% 1.6% Agfa Specialty Products second quarter revenue decreased by 10.3 percent. The various businesses evolved in line with the trends of the previous quarters. Recurring EBIT amounted to 1.0 million Euro and recurring EBITDA to 2.3 million Euro. Results after six months Agfa-Gevaert Group year to date in million Euro H H % change Revenue 1,499 1, % Gross profit (*) % % of revenue 29.8% 28.7% Recurring EBITDA (*) % % of revenue 8.1% 6.3% Recurring EBIT (*) % % of revenue 5.1% 3.5% Result from operating activities % Result attributable to owners of 7 (34) the Company Net cash from (used in) operating activities (125) (20) Agfa-Gevaert announces second quarter results 6/8

7 Agfa Graphics year to date in million Euro H H % change Revenue % Recurring EBITDA (*) % % of revenue 6.6% 4.8% Recurring EBIT (*) % % of revenue 4.0% 2.5% Agfa HealthCare year to date in million Euro H H % change Revenue % Recurring EBITDA (*) % % of revenue 11.1% 9.7% Recurring EBIT (*) % % of revenue 7.1% 6.0% Agfa Specialty Products year to date in million Euro H H % change Revenue % Recurring EBITDA (*) % % of revenue 5.9% 2.6% Recurring EBIT (*) % % of revenue 4.1% 0.5% End of message Management Certification of Financial Statements and Quarterly Report This statement is made in order to comply with new European transparency regulation enforced by the Belgian Royal Decree of 14 November 2007 and in effect as of "The Board of Directors and the Executive Committee of Agfa-Gevaert NV, represented by Mr. Julien De Wilde, Chairman of the Board of Directors, Mr. Christian Reinaudo, President and CEO, and Mr. Kris Hoornaert, CFO, jointly certify that, to the best of their knowledge, the consolidated financial statements included in the report and based on the relevant accounting standards, fairly present in all material respects the financial condition and results of Agfa-Gevaert NV, including its consolidated subsidiaries. Based on our knowledge, the report includes all information that is required to be included in such document and does not omit to state all necessary material facts. Statement of risk This statement is made in order to comply with new European transparency regulation enforced by the Belgian Royal Decree of 14 November 2007 and in effect as of "As with any company, Agfa is continually confronted with but not exclusively - a number of market and competition risks or more specific risks related to the cost of raw materials, product liability, environmental matters, proprietary technology or litigation." Key risk management data is provided in the annual report available on Agfa-Gevaert announces second quarter results 7/8

8 Contact: Viviane Dictus Director Corporate Communication Septestraat Mortsel - Belgium T +32 (0) F +32 (0) E viviane.dictus@agfa.com Johan Jacobs Corporate Press Relations Manager T +32 (0)3/ F +32 (0)3/ E johan.jacobs@agfa.com The full press release and financial information is also available on the company's website: Agfa-Gevaert announces second quarter results 8/8

9 Consolidated Statement of Profit or Loss (in million Euro) Non-audited, consolidated figures following IFRS accounting policies 6m m 2012 % change Q Q % change Revenue 1,499 1, % % Cost of sales (1,052) (1,079) 2.6% (547) (553) 1.1% Gross profit % % Selling expenses (198) (197) -0.5% (98) (100) 2.0% Research & Development expenses (83) (86) 3.6% (40) (42) 5.0% Administrative expenses (99) (97) -2.0% (49) (49) 0.0% Other operating income % % Other operating expenses (122) (134) 9.8% (57) (80) 40.4% Results from operating activities % % Interest income (expense) - net (5) (7) 40.0% (2) (3) 50.0% Interest income % % Interest expense (6) (9) 50.0% (3) (4) 33.3% Other finance income (expense) - net (38) (50) 31.6% (18) (24) 33.3% Other finance income % % Other finance expense (118) (101) -14.4% (46) (54) 17.4% Net finance costs (43) (57) 32.6% (20) (27) 35.0% Profit (loss) before income taxes 14 (25) % 5 (6) % Income tax expense (5) (6) 20.0% (1) % Profit (loss) for the period 9 (31) % 4 (5) % Profit (loss) attributable to: Owners of the Company 7 (34) % 2 (7) % Non-controlling interests % % Results from operating activities % % Restructuring and non-recurring items (19) (21) (11) (11) Recurring EBIT % % Outstanding shares per end of period 167,751, ,751, ,751, ,751,190 Weighted number of shares used for calculation 167,751, ,751, ,751, ,751,190 Earnings per share ( ) 0.04 (0.20) 0.01 (0.04)

10 Consolidated Statements of Comprehensive Income for the half year ending June 2011 / June 2012 (in million Euro) Non-audited, consolidated figures following IFRS accounting policies Profit / (loss) for the period 9 (31) Other Comprehensive Income for the period recognized directly in equity, net of tax Exchange differences: Exchange differences on translation of foreign operations (42) 18 Exchange differences on net investment hedge 7 (3) Income tax on exchange differences on net investment hedge - (1) Cash Flow Hedges: Effective portion of changes in fair value of cash flow hedges 3 (7) Changes in the fair value of cash flow hedges reclassified to profit or loss (4) 6 Income taxes - - Available-for-sale financial assets: Changes in fair values of available-for-sale financial assets - (1) Other Comprehensive Income, net of tax (36) 12 Total Comprehensive Income for the period attributable to: (27) (19) Owners of the Company (28) (22) Non-controlling interests 1 3 Consolidated Statements of Comprehensive Income for the quarter ending June 2011 / June 2012 (in million Euro) Non-audited, consolidated figures following IFRS accounting policies Profit / (loss) for the period 4 (5) Other Comprehensive Income for the period recognized directly in equity, net of tax Exchange differences: Exchange differences on translation of foreign operations (7) 31 Exchange differences on net investment hedge 2 (6) Income tax on exchange differences on net investment hedge - - Cash Flow Hedges: Effective portion of changes in fair value of cash flow hedges (1) (7) Changes in the fair value of cash flow hedges reclassified to profit or loss (2) 3 Income taxes 1 1 Available-for-sale financial assets: Changes in fair values of available-for-sale financial assets - - Other Comprehensive Income, net of tax (7) 22 Total Comprehensive Income for the period attributable to: (3) 17 Owners of the Company (5) 15 Non-controlling interests 2 2

11 Consolidated Statement of Financial Position (in million Euro) Non-audited, consolidated figures following IFRS accounting policies 31/12/ /06/2012 ASSETS Non-current assets 1,221 1,207 Intangible assets Property, plant and equipment Investments Deferred tax assets Current assets 1,728 1,796 Inventories Trade receivables Current tax assets Other receivables and other assets Deferred charges Derivative financial instruments 1 - Cash and cash equivalents Total assets 2,949 3,003 EQUITY AND LIABILITIES Equity Equity attributable to owners of the Company Share capital Share premium Retained earnings Reserves (90) (92) Translation reserve Non-controlling interests Non-current liabilities 988 1,043 Liabilities for post-employment and long-term termination benefit plans Other employee benefits Loans and borrowings Provisions Deferred income 4 2 Deferred tax liabilities Current liabilities Loans and borrowings Provisions Trade payables Deferred revenue and advance payments Current tax liabilities Other payables Employee benefits Deferred income 4 4 Derivative financial instruments Total Equity and Liabilities 2,949 3,003

12 Consolidated Statement of Cash Flows (in million Euro) Non-audited, consolidated figures following IFRS accounting policies 6m m 2012 Q Q Profit (loss) for the period 9 (31) 4 (5) Depreciation, amortization and impairment losses Changes in fair value of derivative financial instruments Net finance costs Income tax expense (1) Change in inventories (134) (71) (36) (17) Change in trade receivables including cash inflows from securitization (12) 26 (15) 34 Change in trade payables (20) 2 Change in deferred revenue and advance payments (11) (21) Change in other working capital (42) (17) 1 (5) Change in non-current provisions (49) (46) (19) (17) Change in current provisions (32) (23) (43) (34) Cash generated from operating activities (114) (16) (94) (12) Income taxes paid (11) (4) (5) (1) Net cash from / (used in) operating activities (125) (20) (99) (13) Interest received Dividends received Proceeds from sale of intangible assets Proceeds from sale of property, plant and equipment Acquisition of intangible assets (3) (2) (2) (1) Acquisition of property, plant and equipment (24) (21) (14) (10) Changes in lease portfolio Acquisition of subsidiary, net of cash acquired (5) - (1) - Change in other investing activities Net cash from / (used in) investing activities (23) 1 (13) 12 Interest paid (11) (13) (10) (11) Dividends paid Proceeds from borrowings Repayment of borrowings Other financial flows (1) (11) (5) (9) Net cash from / (used in) financing activities (6) Net increase (decrease) in cash and cash equivalents (154) 21 (29) 29 Cash and cash equivalents at 1 January Effect of exchange rate fluctuations (3) 4 Cash and cash equivalents at end of the period

13 Consolidated Statements of changes in Equity (in million Euro) Non-audited, consolidated figures following IFRS accounting policies ATTRIBUTABLE TO OWNERS OF THE COMPANY In million Euro Share capital Share premium Retained Earnings Reserve for own shares Share-based payment reserve Revaluation reserve Hedging reserve Translation reserve Total NON- CONTROLLING INTERESTS TOTAL EQUITY Balance at January 1, (82) - (1) (7) Total comprehensive income for the period Profit/(loss) for the period (34) (34) 3 (31) Other comprehensive income (1) (1) Total comprehensive income for the period - - (34) - - (1) (1) 14 (22) 3 (19) Balance at June 30, (82) - (2) (8) ATTRIBUTABLE TO OWNERS OF THE COMPANY In million Euro Share capital Share premium Retained Earnings Reserve for own shares Share-based payment reserve Revaluation reserve Hedging reserve Translation reserve Total NON-CONTROLLING INTERESTS TOTAL EQUITY Balance at January 1, (82) , ,063 Total comprehensive income for the period Profit/(loss) for the period Other comprehensive income (1) (34) (35) (1) (36) Total comprehensive income for the period (1) (34) (28) 1 (27) Transactions with owners, recorded directly in equity Reclassification of share-based payments 11 (12) recorded in profit or loss in previous quarters Total of transactions with owners (12) Balance at June 30, (82) (32) 1, ,036