Q1 Results 2007

3 May 2007 Analyst Presentation

2

Specialty Products 8%

Graphics 50%

HealthCare 42%

Group Sales (in million Euro)

810 786

Q1 '06 Q1 '07

-3.0% (+0.4%)*

Total Sales

* Excluding currency impact

Split per Business Group

Significant currency impact on sales of all business groups

3

Raw Materials Silver (USD/troyounce) Aluminium (USD/ton)

Q1 ‘06 Q1 ‘07 Q1 ‘06 Q1 ‘07

41 million Euro higher costs compared to Q1 2006 (20 million Euro aluminium, 21 million Euro silver)

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Q1 '06 Q1 '07 % change Comments

Sales 810 786 -3.0% +0.4% excl. currency

Gross profit 316 302 -4.4% as a % of sales 39.0% 38.4%

R&D -47 -47 0.0%

SG&A* -207 -192 -7.3% as a % of sales 25.6% 24.4%

Other operating items* -8 -6 -25.0%

Recurring EBITDA* 93 94 1.1% as a % of sales 11.5% 12.0%

Recurring EBIT* 54 58 7.4% as a % of sales 6.7% 7.4%

Profit & Loss: Key Figures (in million Euro)

* Before restructuring and non-recurring items

Positive impact from product mix, pricing, production efficiencies and lower SG&A costs Significant EBIT increase despite significantly higher raw material costs

5

Profit & Loss: Key Figures (in million Euro) Q1 '06 Q1 '07 % change

Recurring EBIT* 54 58 7.4%

Restructuring and non-recurring -11 -8

Operating result 43 50 16.3%

Non-operating result -16 0

Profit before taxes 27 50 85.2%

Taxes and minority interest -7 -8

Net result 20 41 105.0%

Net result more than doubled Earnings per share increased to 33 Eurocents compared to 16 Eurocents last year

* Before restructuring and non-recurring items

Agfa Graphics

7

Analog Prepress 23%

Digital Prepress 63%

Inkjet, Software, Service

14%

424 390

Q1 '06 Q1 '07

-8.0% (-4.6%)*

Total Sales

* Excluding currency effect

Graphics: Sales (in million Euro)

Strong growth of digital solutions Decrease of analog due to discontinuation of unprofitable business and market decline

Split per Business Segment

8

Q1 '06 Q1 '07 % change Comments

Sales 424 390 -8.0% -4.6% excl. currency

Recurring EBITDA* 38.1 35.0 -8.1% % of sales 9.0% 9.0%

Recurring EBIT* 20.1 18.0 -10.5% % of sales 4.7% 4.6% Prepress >7%

Graphics: Key Figures (in million Euro)

Reduction of SG&A costs and improvement of production and service efficiencies

Negative impact of raw materials 30 million Euro (silver 10 million Euro, aluminium 20 million Euro) and inkjet start-up losses

* Before restructuring charges and non-recurring items

9

Graphics: Q1 Highlights • Commercial successes

• Belgium: recently merged printing group Albe-De Coker installs 2 :Avalon LF units with :ApogeeX & :Delano project management software

• CFI: one of the largest European book printer signs 3-year consumables contract for its sites in France, UK, Germany, the Netherlands and the Czech Republic

• :M-Press • 2nd unit installed at Sericum (Spain)

• Sale of Xitron (raster imaging processors and software) to Vanguard

Agfa HealthCare

11

Classic Radiology

19%

Cardiology IT 2%

HIS/CIS 9%

Radiology IT 21%

CR/Modalities 18%

Hardcopy 31%

324 334

Q1 '06 Q1 '07

+3.1% (+6.4%)*

Total Sales

HealthCare: Sales (in million Euro)

Strong increase of sales in CR/Modalities and Radiology IT HealthCare IT increased from 28% in Q1 2006 to 32% in Q1 2007

* Excluding currency effect

Split per Business Segment

HealthCare IT = 32%

12

Q1 '06 Q1 '07 % change Comments

Sales 324 334 3.1% 6.4% excl. currency

Recurring EBITDA* 45.0 45.0 0.0% % of sales 13.9% 13.5%

Recurring EBIT* 25.0 27.0 8.0% % of sales 7.7% 8.1%

HealthCare: Key Figures (in million Euro)

Cost reduction and growing share of services lead to increase in EBIT Impact of higher silver costs was 6 million Euro

* Before restructuring and non-recurring items

13

HealthCare: Q1 Highlights • Commercial successes

• Strong order intake for Computed Radiography • PACS/RIS (radiology IT): several contracts in Latin

America, Germany, USA, Canada, UK and Spain • Novation: 3-year contract for radiology (PACS and RIS)

and cardiology IT • ORBIS roll-out started in The Netherlands, UK and US

• Acquisition of HYDMedia (hospital document management system)

Agfa Specialty Products

15

Specialty Products: Key Figures (in million Euro) Q1 '06 Q1 '07 % change Comments

Sales 62 62 0.0% 3.1% excl. currency Recurring EBITDA* 13.4 12.4 -7.5% % of sales 21.6% 20.0%

Recurring EBIT* 12.4 11.4 -8.7% % of sales 20.0% 18.4%

Strong EBIT margin of 18.4% Impact of higher silver costs was 5 million Euro

* Before restructuring charges and non-recurring items

16

Balance Sheet: Key Figures (in million Euro)

353 342

2,071 2,128

1,407 1,370

933 971

2,899 2,869

Non-current assets

Current assets

Other assets

Liabilities

Equity

Dec. 2006

3,832

Q1 2007 Q1 2007

LiabilitiesAssets

Dec. 2006

3,8323,840 3,840

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331 328

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Mar'06 Mar'07

56 56

834 869

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Mar'06 Mar'07

93 100

641 705

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Mar'06 Mar'07

109 121

Inventories Trade Receivables Trade Payables

Working Capital: Key Figures (in million Euro/days)

18

66.5%

41.4%

17.0% 17.8%

75.9% 73.8% 75.5% 73.6%

65.1 %

65.8%

Dec. '01

Dec. '02

Dec. '03

Dec. '04

Dec. '05

Mar '06

June '06

Sep. '06

Dec. '06

Mar '07

Balance Sheet: Key Figures

Gearing Ratio (%)

704 715

Dec. '06 Q1 '07

Net Financial Debt (in million Euro)

19

67

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Cash Flow: Key Figures (in million Euro)

Net operating cash flow

Q1 2006 Q1 2007

Update on Demerger

21

Demerger Agfa-Gevaert

• Demerger process on track

• Next steps: • Split of legal entities and systems • Prepare prospectus • Approval prospectus by CBFA • Exceptional General Meeting • Three quotations on Euronext Brussels before end 2007

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Questions & Answers