Worst is yet to come, warns manroland

Operating results for manroland fell from 125 million Euro to 52 million Euro ($A104 million) in 2008, and it’s not over yet.

According to Gerd Finkbeiner, chairman of the manroland executive board, the current year looks set to be even more testing for the company. “2008 was a difficult year for manroland and the entire industry,” he said. “However, the crucial challenges are yet to come.”

Sales for 2008 dropped 11 per cent to 1,727 million Euro ($A3.4 billion) and manroland also reported 21 per cent fewer orders than in the previous year.
Like most global businesses, the German-based company, which employed 8,656 staff around the world at 31 December last year, intends to cut 625 jobs by mid-2010. In addition, it will also close the Mainhausen factory and integrate the product lines assembled there into its main sheetfed press factory in Offenbach.

In Australia, manroland and MAN Ferrostaal recently parted ways, ending their worldwide agency agreement. Later this year, manroland will set up its own organisation in Australia and establish a direct presence in markets currently serviced by MAN Ferrostaal.

Finkbeiner believes that these measures will help to keep manroland afloat in a rocky market.

“The package of measures we implemented in January 2009 to safeguard our future as well as our marketing campaign will make a big contribution to us coming out of the crisis stronger then before,” he said.