The Group’s recurring gross profit margin improved from 30.1 per cent in the third quarter of 2008 to 32.3 per cent. It was positively influenced by efficiency programmes, lower raw material prices and certain one-off effects and negatively impacted by manufacturing inefficiencies due to lower use of capacity, according to Agfa.

Continuing its strict cost management, Agfa says it further reduced its selling and general administration expenses. The average monthly SG&A expense was brought down from €51m in the third quarter of 2008, to €44m in the third quarter of 2009, which is a cost decrease by 13.7 percent.

The Group’s recurring EBITDA (the sum of Graphics, HealthCare, Specialty Products and the unallocated portion) increased from €54m in the third quarter of 2008 to €68m.

Agfa outlines that profitability was positively impacted by efficiency programmes, by lower raw material prices and by the above mentioned one-off effects. Negative effects came from the underutilization of the manufacturing capacity, bad debt provisions and competitive pressure.

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