AGFA-Gevaert’s Q2 2025 earnings underscored the challenges facing its print-related businesses, as its shares dropped 4.9% to €1.08 following a decline in Radiology and subdued digital print demand. The company confirmed that medical film volumes fell faster than expected, particularly in China and other Asian markets, cutting Radiology gross profit by €13 million. Meanwhile, its Digital Print & Chemicals (DPC) division reported weaker-than-expected equipment sales, as tariff discussions and broader market uncertainty delayed investment decisions. Despite these pressures, AGFA marked a milestone with the first commercial installation of its Speedset single-pass inkjet printer in the UK, a signal of long-term confidence in industrial print solutions.

On the earnings call, CEO Pascal Duery highlighted that while Radiology Solutions remains under significant pressure, print innovation continues to progress. The Speedset installation at Delta Group reinforces AGFA’s commitment to high-speed inkjet, while the company also reported resilience in specialty films and chemicals despite slower-than-planned growth. Still, management acknowledged that restructuring and cost-cutting remain essential to offset the rapid decline of traditional film-based businesses, with an intensified focus on rationalizing production footprints and shifting toward digital and industrial print technologies.

Looking ahead, AGFA expects a stronger second half, in line with typical seasonality, with Q4 traditionally delivering more than 40% of annual EBITDA. The company remains cautious on print equipment growth for 2025 but sees its ongoing transition to subscription-based models, coupled with innovation in inkjet and industrial print, as key levers for long-term stability. Duery noted that, while near-term print markets are subdued, AGFA is positioning its portfolio to capture opportunities in high-speed inkjet and emerging industrial applications.