Annual Report 2002 - Agfa

Pol Bamelis
Ludo Verhoeven
The Annual Meeting of Shareholders will therefore be asked to approve the appointment of four new Directors:
Marc Gedopt, who will succeed André Bergen, Christian Leysen, representing Gevaert and two independent
directors: Monte Haymon and John Buttrick. Our Board of Directors will consequently include members of
Belgian, German and American nationality reflecting the fact that Agfa is a truly international company.
Looking ahead, the economic and political perspectives still seem clouded by a lot of uncertainties.
A further deterioration of worldwide economies would certainly also affect Agfa. On the other hand, we will
unabatedly continue to implement the Horizon Plan, which runs until the end of 2003 and will again deliver
substantial savings. We are also convinced – even after Horizon – that we will be able to continue to improve our
company’s financial performance and quality. We have therefore already started to develop a new program to
stimulate growth and improve quality considerably.
In the beginning of 2003 we announced that we accepted the proposal of GE Aircraft Engines to acquire our
Non-Destructive Testing business group. As a result, in the future we will have a more focused portfolio of activities
and will be able to use the proceeds to advance in our strategy of expansion.
To illustrate our confidence in the future, we are pleased to announce that we will ask the Annual Meeting of
Shareholders to approve the increase of the gross dividend per share from 23 to 50 Eurocents.
Pol Bamelis
Chairman of the Board of Directors
Ludo Verhoeven
Chairman of the Board of
Management and CEO
Agfa annual report 2002
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