Agfa-Gevaert appoints Declan Guerin as Chief Financial Officer effective October 1, 2026
The Belgian imaging group is modifying the composition of its Executive Committee effective October 1, 2026, with the arrival of a new financial officer replacing Fiona Lam.
On August 25, 2026, Agfa-Gevaert announced the appointment of Declan Guerin to the position of Chief Financial Officer and member of the Executive Committee. He will assume his duties on October 1, 2026.
Declan Guerin (Irish and Belgian national) succeeds Fiona Lam, who will leave the company on August 31, 2026. Chief Executive Officer Pascal Juéry thanked her for her contribution to the group.
A track record as Chief Financial Officer in industry
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Declan Guerin has more than twenty years of experience as Chief Financial Officer and in transformation projects within companies in the industrial, machinery manufacturing, logistics and capital equipment sectors. He holds a Chartered Management Accountant (CIMA) qualification and has completed executive training programs at IMD, INSEAD and Oxford Saïd.
Since 2020, he has held the position of Group CFO at Norican Group, an industrial group backed by Altor Equity Partners, where he was responsible for finance, information technology and legal affairs. Previously, he held positions as Chief Financial Officer and Transformation Officer at Rolls-Royce, Cargotec, Caterpillar and DHL.
In 2025, the group achieved revenue of 1,086 million euros.
SectorDispositifs médicaux et optique›Dispositifs médicaux / imagerie
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Context
Period
Period: S1 2026
Key reported figures
Revenue: 512 millions d'euros
Quarterly revenue: 512 millions d'euros
Revenue growth: -2,2 %
EBITDA: 25 millions d'euros
EBITDA margin: 4,9 %
Net income: -27 millions d'euros
Free cash flow: -52 millions d'euros
127 millions d'euros
Guidance from the release
The full year 2026 free cash flow is expected to be more negative than in 2025
Risks mentioned
Flux de trésorerie disponible négatif de 52 M€ au S1 2026, aggravé par les coûts de transformation et de réorganisation
Faiblesse persistante du marché Green Hydrogen Solutions liée aux retards de mise en œuvre de la directive RED III
Baisse du chiffre d'affaires de HealthCare IT de 7,3% hors effet de change liée à la transition cloud
Opportunities identified
EBITDA ajusté du groupe en hausse de 66% au S1 2026 grâce aux programmes d'économies
Recettes récurrentes de HealthCare IT en hausse de 4% hors effet de change au T2 2026, où elles représentent 66% du chiffre d'affaires du segment
Amélioration du fonds de roulement dans toutes les activités hors film grâce à un programme d'affacturage avec BNP Paribas Fortis
The information presented in this article is provided for informational purposes only and does not constitute an investment recommendation, an incentive to buy or sell a financial asset, or investment advice. Readers are invited to conduct their own research before making any decision.
Investments in the stock market involve risks, including the risk of capital loss. Past performance of an asset or market is no guarantee of future results. Any investment decision should be made taking into account your personal financial situation, objectives and risk tolerance.
