KBA Reports Sheetfed Press Orders Hit Harder than Web

Provisions top €90m
The impact on profits of a €170m slide in sales was exacerbated by provisions and write-downs totalling €93.3m, primarily relating to the approved restructuring and consolidation of sheetfed facilities. This gave rise to an operating loss of €79.9m, as opposed to an operating profit of €65.7m in 2007.