Xeikon parent company Punch Graphix experienced an 8.1 per cent fall in sales during the first quarter of 2009 compared with the same period last year. The group has introduced a cost savings plan to reduce overall costs by at least €10mn/year. However, the effects will only be apparent in the figures from the second quarter of 2010 onwards.
There was an 8.1 per cent fall in sales during the first quarter compared with last year. Both digital printing (-8.7 per cent) and prepress (-6.7 per cent) recorded a fall in sales - mainly with the more expensive machines - chiefly as a result of financing problems experienced by customers due to the global credit crisis.
Sales in Europe (-3.4 per cent) held ground fairly well; the crisis has been particularly acute in Asia (-51.7 per cent) and America (-18.0 per cent).
The group expects both sales and net profit in 2009 to fall substantially compared with 2008.
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