Heidelberg’s sales for the past year were down 3.5% on the previous year, having suffered the combined hit of a strong euro and deteriorating market conditions in the US. However, an optimistic Clarke shrugged off concerns that sales would be slow at Drupa as a result.

“Currency affects all our rivals as it does us. Ultimately, a press may be slightly more expensive due to the weak pound, but the customer will have to evaluate whether the value is there in terms of additional productivity. I am confident that they will still see the value,” he said.

Looking ahead to the year’s major industry event, he said: “We’re looking forward to Drupa. There are exciting products that we have not yet announced and there are a lot of first class clients coming with the intention of investing in Heidelberg hardware.”

Clarke’s comments came as the print giant’s preliminary results for 2007/2008 revealed sales, operating results and net profit were all down on the previous year.
Sales for the past year totalled €3.5bn (£2.76bn), down 3.5% on the previous year; the preliminary order backlog on March 31 was €874m, down from €1bn last year; and profit was down €2m to €142m.

The manufacturer said that there was “no market improvement on the horizon” and, despite good sales being anticipated at Drupa, the operating result for the current tax year will be down on last year’s figure.

However, Clarke said that market conditions had been tough in the UK for a number of years. “We did okay in the UK last year. Printers have already been through something of a credit crunch in Britain, finding it difficult to get funding.

“There is now a higher percentage of credit-worthy printers than there was a few years ago.”

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RESULTS 2007/08
Preliminary sales €3.67bn (06/07: €3.83 bn)
Preliminary incoming orders €3.65bn (€3.85bn)
Net profit €142m (€144m)
Free cash flow €215m (€229m)