Shares of the world's biggest press manufacturer slumped to below €15 (£11.90) at one point although were trading at €15.36 at the time of writing.

The company said that the "difficult market environment" dented its figures, with sales some 3% lower than its predicted €3.8bn. Similarly, Heidelberg's six months figures released in November gave an operating result guidance between €330m and €345m for the full year ending 31 March. It has now given a bottom line of €260m for its EBIT operating results.

The poor economic climate and strong Euro have made selling outside of Europe challenging, particularly into the US. In response the company said it would speed up the expansion of production plants and purchasing activities outside of this region to reduce its exposure to these risks.

It added that should a tough market continue after the Drupa trade show, then it would look at making "adjustments in personnel and structure according to the demands on capacities".

Heidelberg chief operating officer Bernard Schreier said in a statement: "The course of the upcoming Drupa trade show will not change the strategic directions ... However, it will provide us with important indications of our customers' investment behaviour."

Heidelberg UK managing director George Clarke told printweek.com that it is "business as usual" in the UK.

"I wouldn't want to spread despondency and alarm," he said. "I'm going to meet the forecasts".

Heidelberg's rival KBA also felt the impact of the slowing global economy and currency changes, revealing orders down 6.2% year on year, with the sheet-fed and gravure sectors particularly weak, but buoyed by web and special presses.

However, its full year revenues stood at €1.7bn, close to its €1.74bn record, while effiency and cost-cutting measures pushed operating profit from €46.2m in 2006 to €65.7m. Pre-tax earnings (EBT) rose to €63.2m (2006: €47.4m) and group profit climbed to €49m (2006: €34.3m).