Currency effects crimp Agfa’s healthcare sales

Currency impact from a strong euro put the brakes on revenue growth at film and PACS vendor Agfa HealthCare of Mortsel, Belgium, with the division posting 2003 sales of 1.408 billion euros ($1.73 billion), down 5.6% compared to the year before. At stable exchange rates, however, Agfa HealthCare’s annual revenues would have grown 3.8%.

The healthcare division’s operating profit improved, increasing from 223 million euros ($274.1 million) to 264 million euros ($324.5 million). The division’s return on sales grew to 18.8 percent compared with 15 percent in the previous year.

In other news, Agfa said that John Glass, member of its board of management, has resigned from the company, effective March 20, 2004. The board said that it has also appointed a new general manager of its healthcare group, Philippe Houssiau.

By staff writers
March 11, 2004

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Copyright © 2004

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