Profit after tax fell 49% to 51m (EUR84m) and operating profits were down 47% at 98m. Orders totalled 2.14bn and sales were 2.2bn.
Chairman Bernhard Schreier said the dip in orders clearly reflects the reticence to invest that has been prevalent in the USA since the beginning of the last calendar year, plus worsening global economic conditions.
Chief financial officer Dr Herbert Meyer said a realignment of production, reduction in inventory levels, 61m of cost cuts and an anticipated turnaround in the groups Web Systems division would help it reach its targets for the year as a whole.
Digital sales fell 15% and Web Systems sales dropped 7%, with a 75m operating loss. But Sheetfed sales were up 7% to 1.46bn.
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"Everyone seems satisfied with that result. I wonder if it will always be so amicable."
"Very insightful Stern.
My analysis?
Squeaky bum time!"
"But in April there was an article with the Headline "Landa boosts top team as it scales up to meet market demand", where they said they came out of last year’s Drupa with a burgeoning order..."
