Agfa-Gevaert NV

Earnings Release • Aug 25, 2016

PRESS RELEASE

Agfa Press Office Septestraat 27 B – 2640 Mortsel Belgium

Johan Jacobs Corporate Press Relations Manager

T +32 3 444 80 15 F +32 3 444 44 85 E johan.jacobs@agfa.com Regulated information – August 25, 2016 - 7:45 a.m. CET

Agfa-Gevaert publishes its second quarter 2016 results

• Overall good performance of the growth engines
• Recurring EBITDA at 12.1% of revenue in the second quarter and 10.1% after six months – Step towards reaching the 10% full year 2016 target
• Solid net profit

Mortsel (Belgium), August 25, 2016 - Agfa-Gevaert today announced its second quarter 2016 results.

"In the second quarter, our efficiency measures continued to contribute to the improvement of our profitability. Also helped by positive raw material effects, we brought our gross profit margin to the highest level in more than five years. Our recurring EBITDA margin improved to 12.1% of revenue in the second quarter and to 10.1% after six months. This clearly shows that we took a step towards reaching the 10% target we set for the full year. The very solid net profit is another point of satisfaction. We now expect the top line decline rate to slow down in the second half of the year," said Christian Reinaudo, President and CEO of the Agfa-Gevaert Group.

Agfa-Gevaert Group – second quarter 2016

in million Euro	Q2 2015	Q2 2016	% change
Revenue	691	645	-6.7%
Gross profit (*)	229	230	0.4%
% of revenue	33.1%	35.7%
Recurring EBITDA (*)	72	78	8.3%
% of revenue	10.4%	12.1%
Recurring EBIT (*)	56	64	14.3%
% of revenue	8.1%	9.9%
Result from operating activities	48	74	54.2%
Result for the period	25	40	60.0%
Net cash from (used in) operating activities	(1)	8

(*) before restructuring and non-recurring items

Notwithstanding the good performance of the growth engines, the Agfa-Gevaert Group's revenue decreased by 6.7% (4.1% excluding currency rates) to 645 million Euro. The classic film products continued to decline in all business groups. The lower top line of the Agfa HealthCare business group is largely contributable to the hardcopy business, where sales were exceptionally high in the second quarter of 2015.

Due to targeted efficiency measures and positive raw material effects (mainly in the Agfa Graphics business group), the Group was able to improve its gross profit margin by 2.6 percentage points to 35.7% of revenue, thus reaching the highest level since the second quarter of 2010.

As a percentage of revenue, Selling and General Administration expenses amounted to 20.0%.

R&D expenses amounted to 35 million Euro, or 5.4% of revenue.

Recurring EBITDA (the sum of Graphics, HealthCare, Specialty Products and the unallocated portion) improved strongly from 10.4% of revenue in the second quarter of 2015 to 12.1%. Recurring EBIT improved from 8.1% of revenue to 9.9%.

Restructuring and non-recurring items resulted in an income of 10 million Euro, versus an expense of 8 million Euro in the second quarter of 2015. This was mainly due to the sale of the properties of the Korean manufacturing site, which was closed in 2015.

Mainly due to the decision to mothball the operations in Venezuela, the net finance costs increased from 14 million Euro in the second quarter of 2015 to 21 million Euro. This decision led to a one-off reclassification from translation reserve to profit and loss for an amount of 7.5 million Euro. This reclassification did not have any cash flow or equity impact.

Income tax expenses amounted to 13 million Euro, versus 9 million Euro in the previous year.

As a result of the elements mentioned above, the Agfa-Gevaert Group posted a very strong net profit of 40 million Euro, a 60% increase versus the second quarter of 2015.

Financial position and cash flow

• At the end of the second quarter of 2016, total assets were 2,375 million Euro, compared to 2,402 million Euro at the end of 2015.

• Inventories amounted to 542 million Euro (112 days), versus 575 million Euro (114 days) in the second quarter of 2015. Trade receivables (minus deferred revenue and advanced payments from customers) amounted to 351 million Euro (49 days), versus 371 million Euro (48 days) in the second quarter of 2015, and trade payables were 253 million Euro (52 days), versus 239 million Euro (47 days).

• Net financial debt amounted to 52 million Euro, versus 58 million Euro at the end of 2015.
• Net cash from operating activities amounted to 8 million Euro.

in million Euro	Q2 2015	Q2 2016	% change
Revenue	349	321	-8.0%
Recurring EBITDA (*)	20.0	28.9	44.5%
% of revenue	5.7%	9.0%
Recurring EBIT (*)	12.5	22.3	78.4%
% of revenue	3.6%	6.9%

Agfa Graphics – second quarter 2016

(*) before restructuring and non-recurring items

For Agfa Graphics' inkjet segment, the four-yearly drupa trade fair (Düsseldorf, Germany - May 31 - June 10) was a success in terms of order generation. However, as customers are always reluctant to invest in new equipment in the months prior to the event, this is not reflected in the second quarter top line. In the prepress segment, the volume trend in the digital computer-to-plate (CtP) business continued to improve, mainly based on the success of the sustainable printing plate solutions. On the negative side, the CtP business continued to suffer from the severe competitive pressure in the offset markets. The continuing decline of the analog computer-to-film (CtF) business also added to Agfa Graphics' 8.0% (6.3% excluding currency effects) revenue decline.

Counterbalancing the competitive pressure effects, the combination of structural efficiency measures and positive raw material effects allowed Agfa Graphics to improve its gross profit margin from 28.1% of revenue in last year's second quarter to 31.2%. Recurring EBITDA improved substantially from 20.0 million Euro (5.7% of revenue) to 28.9 million Euro (9.0% of revenue). Recurring EBIT reached 22.3 million Euro (6.9% of revenue), versus 12.5 million Euro (3.6% of revenue) in the second quarter of 2015.

The four-yearly international drupa trade fair was the highlight of the quarter for Agfa Graphics. The business group's sales targets were exceeded for both the inkjet business as well as the prepress business. In prepress, Agfa Graphics confirmed its good position in the chemistry-free printing plate segment of the market. In the build-up to drupa, the business group showed its commitment to the industry through several important product announcements.

In the field of inkjet, Agfa Graphics introduced a new series of Anapurna i print engines with LED UV curing. LED UV curing enables printers to print on a broader range of media, save energy, increase system up time and reduce operational expenses. At drupa, the European Digital Press Association granted Agfa Graphics the EDP award in the category 'best wide format flatbed/hybrid printer up to 250 m²/h' for its Jeti Mira print engine.

In the field of prepress, Agfa Graphics launched version 10 of its Apogee workflow software solution for commercial printers. With a wider range of features, improved performance and a unique cloud-based alternative, Apogee 10 expands on its main pillars: innovation, interaction and optimization.

For newspaper printers, the business group announced a new version of the Arkitex Production workflow solution. Arkitex Production keeps all departments informed about the operations thanks to a single, integrated user interface. The solution offers printers a faster turnaround and increased productivity.

Agfa Graphics also introduced three new Advantage platesetters for newspaper printers and a new ultra-fast Avalon platesetter for commercial customers. Furthermore, Agfa Graphics launched Energy Elite Eco, its new no-bake thermal printing plate, and the brand-new Arkana plate processor. Energy Elite Eco offers very high run lengths and photorealistic imaging quality, as well as significant ecological and economical advantages.

In the field of security printing, Agfa Graphics launched its Arziro Design 2.0 software solution. The solution enables the creation of unique, complex, and hardto-copy designs that protect e.g. vouchers, tickets, documents, labels and packaging against forgery. With Arziro Design comes the new Arziro Authenticate tool, which makes it possible to track and trace printed matter (including packaging) via the internet.

In April, the European Logistics Association granted Agfa Graphics the 'ELA Award for best presentation 2016' for its 'Sustainability through recycling via collaborative supply chain' project. The project is aimed at creating a sustainable closed-loop solution that allows high-grade aluminum to be reused without value loss.

in million Euro	Q2 2015	Q2 2016	% change
Revenue	294	277	-5.8%
Recurring EBITDA (*)	45.5	43.9	-3.5%
% of revenue	15.5%	15.8%
Recurring EBIT (*)	38.9	37.3	-4.1%
% of revenue	13.2%	13.5%

Agfa HealthCare – second quarter 2016

(*) before restructuring and non-recurring items

In spite of the good performance of the IT business, Agfa HealthCare's top line decreased by 2.0% on a currency comparable basis. The decline is mainly explained by the Imaging segment's hardcopy business, where sales were exceptionally high in the first three quarters of 2015. The normalization of hardcopy sales in this year's first and second quarter led to a top line decrease compared to the same periods in 2015.

In the IT segment, the HealthCare Information Solutions range continued to grow strongly. The Imaging IT Solutions range also posted substantial revenue growth, driven by the success of the Enterprise Imaging platform.

Mainly due to the structural efficiency measures, Agfa HealthCare's gross profit margin improved substantially from 39.8% of revenue in the second quarter of 2015 to 41.9%. Recurring EBITDA reached 43.9 million Euro (15.8% of revenue), versus 45.5 million Euro (15.5% of revenue) in the second quarter of 2015. Recurring EBIT amounted to 37.3 million Euro (13.5% of revenue), compared to 38.9 million Euro (13.2% of revenue).

In the field of Imaging, Agfa HealthCare signed an agreement with Kettering Health Network (Ohio, USA) for the installation of nine instant DR systems in three of the network's hospitals. The agreement fits in the network's strategy to upgrade and improve its technology in view of the ever-increasing patient load.

In the field of Imaging IT Solutions, Agfa HealthCare continued to sign important contracts for its new, comprehensive Enterprise Imaging platform. With the solution, hospitals can enable clinicians to access and use all imaging data they

need, no matter where they are practicing. Examples of organizations implementing the solution in the USA are Methodist Healthcare (San Antonio, Texas) and Augusta Health (Fisherville, Virginia). With 3,000 beds across 12 hospital sites, Methodist Healthcare is the largest hospital by number of beds in the USA.

In the Netherlands, the Zuyderland Medical Center (MC) has successfully upgraded its imaging cloud solution and migrated to a new image data center, managed by Agfa HealthCare. The Zuyderland MC was formed after the merger of two hospitals. The merged hospital needed a solution to allow the different systems at the two sites to communicate with each other, as well as a shared data center for archiving and managing images.

In HealthCare Information Solutions, Agfa HealthCare and Assistance Publique – Hôpitaux de Paris (AP-HP) have extended their relationship for another four years. Agfa HealthCare will deploy its ORBIS clinical information system across all 39 AP-HP hospitals. The project is one of the most ambitious healthcare IT deployments in Europe. In the UK, Agfa HealthCare signed an agreement with Derby Teaching Hospitals NHS Foundation Trust to implement the ORBIS ICU Manager solution. The solution will allow the organization to automate the collection of data from monitors and devices in the Intensive Care Units (ICU). By speeding up workflow and reducing the risk of potential errors, the solution can help the hospital to improve clinical safety, efficiency and cost effectiveness.

In June, Agfa HealthCare announced that it joined the Watson Health Imaging Center of Excellence, created by IBM Watson Health. The initiative brings together clinical and industrial participants to develop cognitive technologies in the domain of imaging. Its ultimate goal is saving and improving lives, reducing costs and improving access in order to expand the physicians' view and support them to make more confident diagnostic and treatment decisions. Agfa HealthCare will e.g. contribute to the training of Watson on common diseases associated with a high use of imaging, high mortality and high costs.

in million Euro	Q2 2015	Q2 2016	% change
Revenue	48	47	-2.1%
Recurring EBITDA (*)	7.3	6.9	-5.5%
% of revenue	15.2%	14.7%
Recurring EBIT (*)	6.3	5.9	-6.3%
% of revenue	13.1%	12.6%

Agfa Specialty Products – second quarter 2016

(*) before restructuring and non-recurring items

Agfa Specialty Products' revenue remained almost stable at 47 million Euro. The good performances of the future-oriented businesses, such as Synaps Synthetic Paper, Printed Circuit Board consumables and Orgacon Electronic Materials partly counterbalanced the decline of the traditional film product lines.

The business group's recurring EBITDA reached 6.9 million Euro (14.7% of revenue). Recurring EBIT amounted to 5.9 million Euro (12.6% of revenue).

in million Euro	H1 2015	H1 2016	% change
Revenue	1,313	1,248	-5.0%
Gross profit (*)	426	425	-0.2%
% of revenue	32.4%	34.1%
Recurring EBITDA (*)	115	126	9.6%
% of revenue	8.8%	10.1%
Recurring EBIT (*)	84	98	16.7%
% of revenue	6.4%	7.9%
Result from operating activities	72	104	44.4%
Result for the period	28	50	78.6%
Net cash from (used in) operating activities	52	47

Results after six months

Agfa-Gevaert Group – year to date

(*) before restructuring and non-recurring items

Agfa Graphics – year to date

in million Euro	H1 2015	H1 2016	% change
Revenue	670	628	-6.3%
Recurring EBITDA (*)	41.4	53.6	29.5%
% of revenue	6.2%	8.5%
Recurring EBIT (*)	26.3	40.3	53.2%
% of revenue	3.9%	6.4%

(*) before restructuring and non-recurring items

Agfa HealthCare – year to date

Agfa-Gevaert announces second quarter 2016 results 7/14

in million Euro	H1 2015	H1 2016	% change
Revenue	548	531	-3.1%
Recurring EBITDA (*)	65.9	66.4	0.8%
% of revenue	12.0%	12.5%
Recurring EBIT (*)	52.2	53.4	2.3%
% of revenue	9.5%	10.1%

(*) before restructuring and non-recurring items

Agfa Specialty Products – year to date

in million Euro	H1 2015	H1 2016	% change
Revenue	95	89	-6.3%
Recurring EBITDA (*)	10.3	8.9	-13.6%
% of revenue	10.8%	10.0%
Recurring EBIT (*)	8.3	7.0	-15.7%
% of revenue	8.7%	7.9%

(*) before restructuring and non-recurring items

End of message

Management Certification of Financial Statements and Quarterly Report

This statement is made in order to comply with new European transparency regulation enforced by the Belgian Royal Decree of 14 November 2007 and in effect as of 2008. "The Board of Directors and the Executive Committee of Agfa-Gevaert NV, represented by Mr. Julien De Wilde, Chairman of the Board of Directors, Mr. Christian Reinaudo, President and CEO, and Mr. Kris Hoornaert, CFO, jointly certify that, to the best of their knowledge, the consolidated financial statements included in the report and based on the relevant accounting standards, fairly present in all material respects the financial condition and results of Agfa-Gevaert NV, including its consolidated subsidiaries. Based on our knowledge, the report includes all information that is required to be included in such document and does not omit to state all necessary material facts."

Statement of risk

This statement is made in order to comply with new European transparency regulation enforced by the Belgian Royal Decree of 14 November 2007 and in effect as of 2008. "As with any company, Agfa is continually confronted with – but not exclusively - a number of market and competition risks or more specific risks related to the cost of raw materials, product liability, environmental matters, proprietary technology or litigation." Key risk management data is provided in the annual report available on www.agfa.com.

Contact:

Viviane Dictus

Director Corporate Communication Septestraat 27 2640 Mortsel - Belgium T +32 (0) 3 444 71 24 E viviane.dictus@agfa.com

Johan Jacobs

Corporate Press Relations Manager T +32 (0)3/444 80 15 E johan.jacobs@agfa.com

The full press release and financial information is also available on the company's website: www.agfa.com

Consolidated Statement of Profit or Loss (in million Euro)

	Q2 2015	Q2 2016	% change	H1 2015	H1 2016	% change
Revenue	691	645	-6.7%	1,313	1,248	-5.0%
Cost of sales	(462)	(416)	-10.0%	(887)	(824)	-7.1%
Gross profit	229	229	0.0%	426	424	-0.5%
Selling expenses	(90)	(89)	-1.1%	(178)	(173)	-2.8%
Research & Development expenses	(37)	(35)	-5.4%	(73)	(70)	-4.1%
Administrative expenses	(44)	(41)	-6.8%	(88)	(84)	-4.5%
Other operating income	22	32	45.5%	50	56	12.0%
Other operating expenses	(32)	(22)	-31.3%	(65)	(49)	-24.6%
Results from operating activities	48	74	54.2%	72	104	44.4%
Interest income (expense) - net Interest income	(3) 1	(2) 1	-33.3% 0.0%	(7) 1	(4) 1	-42.9% 0.0%
Interest expense	(4)	(3)	-25.0%	(8)	(5)	-37.5%
Other finance income (expense) - net Other finance income	(11) 1	(19) 2	72.7% 100.0%	(24) 2	(25) 8	4.2% 300.0%
Other finance expense	(12)	(21)	75.0%	(26)	(33)	26.9%
Net finance costs	(14)	(21)	50.0%	(31)	(29)	-6.5%
Profit (loss) before income taxes	34	53	55.9%	41	75	82.9%
Income tax expense	(9)	(13)	44.4%	(13)	(25)	92.3%
Profit (loss) for the period	25	40	60.0%	28	50	78.6%
Profit (loss) attributable to:
Owners of the Company	23	38	65.2%	25	46	84.0%
Non-controlling interests	2	2	0.0%	3	4	33.3%
Results from operating activities	48	74	54.2%	72	104	44.4%
Restructuring and non-recurring items	(8)	10		(12)	6
Recurring EBIT	56	64	14.3%	84	98	16.7%
Outstanding shares per end of period	167,751,190	167,751,190		167,751,190	167,751,190
Weighted number of shares used for calculation	167,751,190	167,751,190		167,751,190	167,751,190
Earnings per share (Euro)	0.13	0.23		0.15	0.28

Consolidated Statements of Comprehensive Income for the half year ending June 2015 / June 2016 (in million Euro)

	H1 2015	H1 2016
Profit / (loss) for the period	28	50
Other Comprehensive Income, net of tax
Items that are or may be reclassified subsequently to profit or loss:
Exchange differences:	10	18
Exchange differences on translation of foreign operations	14	8
Exchange differences on disposal of foreign operations reclassified to profit or loss	-	7
Exchange differences on net investment hedge	(4)	3
Income tax on exchange differences on net investment hedge	-	-
Cash flow hedges:	(4)	14
Effective portion of changes in fair value of cash flow hedges	(14)	6
Change in the fair value of cash flow hedges reclassified to profit or loss	6	-
Adjustments for amounts transferred to initial carrying amount of hedged items	4	8
Income taxes	-	-
Available-for-sale financial assets:	2	(1)
Changes in fair value of available-for-sale financial assets	2	(1)
Income taxes	-	-
Items that will not be reclassified subsequently to profit and loss:	-	-
Remeasurements of the net defined benefit liability	-	-
Income tax on remeasurements on the net defined benefit liability	-	-
Total other Comprehensive Income for the period, net of tax	8	31
Total Comprehensive Income for the period attributable to:	36	81
Owners of the Company	29	79
Non-controlling interests	7	2

Consolidated Statements of Comprehensive Income for the quarter ending June 2015 / June 2016

(in million Euro)

	Q2 2015	Q2 2016
Profit / (loss) for the period	25	40
Other Comprehensive Income, net of tax
Items that are or may be reclassified subsequently to profit or loss:
Exchange differences:	(14)	18
Exchange differences on translation of foreign operations	(22)	13
Exchange differences on disposal of foreign operations reclassified to profit or loss	-	7
Exchange differences on net investment hedge	8	(2)
Income tax on exchange differences on net investment hedge	-	-
Cash flow hedges:	(4)	8
Effective portion of changes in fair value of cash flow hedges	(7)	4
Changes in the fair value of cash flow hedges reclassified to profit or loss	-	-
Adjustments for amounts transferred to initial carrying amount of hedged items	3	4
Income taxes	-	-
Available-for-sale financial assets:	-	-
Changes in fair value of available-for-sale financial assets	-	-
Income taxes	-	-
Items that will not be reclassified subsequently to profit and loss:	-	-
Remeasurements of the net defined benefit liability	-	-
Income tax on remeasurements on the net defined benefit liability	-	-
Total other Comprehensive Income for the period, net of tax	(18)	26
Total Comprehensive Income for the period attributable to:	7	66
Owners of the Company	7	64
Non-controlling interests	-	2

Consolidated Statement of Financial Position (in million Euro)

	31/12/2015	30/06/2016
ASSETS
Non-current assets	1,005	987
Intangible assets and goodwill	622	624
Property, plant and equipment	214	208
Investments in associates	1	7
Financial assets	16	11
Deferred tax assets	152	137
Current assets	1,397	1,388
Inventories	512	542
Trade receivables	515	515
Current income tax assets	64	64
Other tax receivables	26	27
Other receivables	106	96
Other assets	44	68
Derivative financial instruments	2	3
Cash and cash equivalents	123	73
Non-current assets held for sale	5	-
Total assets	2,402	2,375
EQUITY AND LIABILITIES
Equity	268	338
Equity attributable to owners of the Company	228	307
Share capital	187	187
Share premium	210	210
Retained earnings	771	817
Reserves	(92)	(79)
Translation reserve	(7)	13
Post-employment benefits: remeasurements of the net defined benefit liability	(841)	(841)
Non-controlling interests	40	31
Non-current liabilities	1,359	1,279
Liabilities for post-employment and long-term termination benefit plans	1,185	1,154
Other employee benefits	9	9
Loans and borrowings	137	85
Provisions	6	7
Deferred income	1	2
Deferred tax liabilities	21	22
Current liabilities	775	758
Loans and borrowings	44	40
Provisions	81	69
Trade payables	206	253
Deferred revenue and advance payments	141	164
Current income tax liabilities	60	54
Other tax liabilities	45	41
Other payables	46	10
Employee benefits	130	116
Other liabilities	5	5
Derivative financial instruments	17	6
Total Equity and Liabilities	2,402	2,375

Consolidated Statement of Cash Flows (in million Euro) Unaudited, consolidated figures following IFRS accounting policies.

	6m 2015	6m 2016	Q2 2015	Q2 2016
Profit (loss) for the period	28	50	25	40
Adjustments for:
Depreciation, amortization and impairment losses	33	28	17	14
Changes in fair value of derivative financial instruments	(1)	3	(2)	1
Granted subventions	(4)	(4)	(2)	(2)
(Gains) / losses on sale of non-current assets	0	(10)	0	(10)
Net finance costs	31	29	14	21
Income tax expense	13	25	9	13
	100	121	61	77
Change in inventories	(51)	(30)	(8)	(9)
Change in trade receivables	10	8	10	11
Change in trade payables	5	17	(16)	11
Change in deferred revenue and advance payments	41	22	(2)	(9)
Change in other working capital	(1)	(33)	11	(11)
Change in non-current provisions	(35)	(22)	(18)	(9)
Change in current provisions	(15)	(24)	(32)	(42)
Cash generated from operating activities	54	59	6	19
Income taxes paid	(2)	(12)	(7)	(11)
Net cash from / (used in) operating activities	52	47	(1)	8
Interest received	1	1	0	0
Dividends received	0	0	0	0
Proceeds from sale of intangible assets	2	1	2	0
Proceeds from sale of property, plant and equipment	2	1	1	1
Proceeds from non-current assets held for sale	0	14	0	14
Acquisition of intangible assets	(1)	(4)	0	(4)
Acquisition of property, plant and equipment	(14)	(17)	(7)	(9)
Changes in lease portfolio	1	2	1	0
Acquisition of subsidiary, net of cash acquired	0	0	0	0
Change in other investing activities	2	(4)	0	2
Net cash from / (used in) investing activities	(7)	(6)	(3)	4
Interest paid	(13)	(6)	(10)	(4)
Dividends paid to non-controlling interests	0	(12)	0	(12)
Proceeds from borrowings	68	0	68	0
Repayment of borrowings	(157)	(58)	(147)	(24)
Other financial flows	(11)	(15)	12	(8)
Net cash from / (used in) financing activities	(113)	(91)	(77)	(48)
Net increase (decrease) in cash and cash equivalents	(68)	(50)	(81)	(36)
Cash and cash equivalents at January 1	194	122
Effect of exchange rate fluctuations	3	(1)
Cash and cash equivalents at end of the period	129	71

Consolidated Statement of changes in Equity (in million Euro)

	ATTRIBUTABLE TO OWNERS OF THE COMPANY
in million Euro	Share capital	Share premium	Retained earnings	Reserve for own shares	Revaluation reserve	Hedging reserve	Remeasurements of the net defined benefit liability	Translation reserve	Total	CONTROLLING S T S INTERE ON N	TOTAL EQUITY
Balance at January 1, 2015	187	210	709	(82)	1	(11)	(905)	(16)	93	53	146
Comprehensive income for the period Profit (loss) for the period	-	-	25	-	-	-	-	-	25	3	28
Other comprehensive income, net of tax	-	-	-	-	2	(4)	-	6	4	4	8
Total comprehensive income for the period	-	-	25	-	2	(4)	-	6	29	7	36
Balance at June 30, 2015	187	210	734	(82)	3	(15)	(905)	(10)	122	60	182
Balance at January 1, 2016	187	210	771	(82)	4	(14)	(841)	(7)	228	40	268
Comprehensive income for the period
Profit (loss) for the period	-	-	46	-	-	-	-	-	46	4	50
Other comprehensive income, net of tax	-	-	-	-	(1)	14	-	20	33	(2)	31
Total comprehensive income for the period	-	-	46	-	(1)	14	-	20	79	2	81
Transactions with owners, recorded directly in equity Dividends	-	-	-	-	-	-	-	-	-	(11)	(11)
Total transactions with owners, recorded directly in equity	-	-	-	-	-	-	-	-	-	(11)	(11)
Balance at June 30, 2016	187	210	817	(82)	3	-	(841)	13	307	31	338