Agfa-Gevaert : Agfa-Gevaert conference call regarding revised accounting
standard IAS 19R - Employee Benefits
Mortsel / Belgium, February 6, 2013 - 7.45 a.m. CET
Later today (February 6, 2013 - 10.00 a.m. CET) Kris Hoornaert, CFO of the
Agfa-Gevaert Group, will host a conference call to update the markets on the
effects of the changes in financial reporting on Employee Benefits - IAS19R.
The company will clarify the amendments on this subject that were provided in
the 2011 Annual Report.
The slides of the presentation will be published on the company's website
(www.agfa.com) prior to the call. The transcript of the call will be published
after the call.
As a result of the changes in the IAS19 standard, the Agfa-Gevaert Group will
adapt its accounting presentation as from January 2013. On the profit and loss
statement, pension costs will decrease, mainly due to the removal of the
amortization of actuarial gains and losses related to post-employment
benefits. On the balance sheet statement, deferred actuarial gains and losses
related to post-employment benefits will be immediately recognized in equity.
The changes will have no impact on the Group's pension cash outflows, business
flows and current bank covenants.
(end of message)
The Agfa-Gevaert Group develops, manufactures and distributes an extensive
range of analogue and digital imaging systems and IT solutions, mainly for the
printing industry and the healthcare sector, as well as for specific
Agfa's headquarters and parent company are located in Mortsel, Belgium. The
Group's operational activities are divided in three independent business
groups, Agfa Graphics, Agfa HealthCare and Agfa Specialty Products.
All business groups have strong market positions, well-defined strategies and
full responsibilities, authority and accountability.
Agfa-Gevaert has production facilities around the world, with the largest
production and research centers in Belgium, the United States, Canada,
Germany, France, Italy and China.
Agfa is commercially active worldwide through wholly owned sales organizations
in more than 40 countries. In countries where Agfa does not have its own sales
organization, the market is served by a network of agents and representatives.
The Agfa-Gevaert Group achieved a turnover of 3,023 million Euro in 2011.
Agfa-Gevaert Press contacts:
Director Corporate Communication
T +32 3 444 7124
Corporate Press Relations Manager
T +32 3 444 8015
This announcement is distributed by Thomson Reuters on behalf of Thomson
The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and other
applicable laws; and
(ii) they are solely responsible for the content, accuracy and originality of
information contained therein.
Source: Agfa-Gevaert via Thomson Reuters ONE
Press spacebar to pause and continue. Press esc to stop.