The Netherlands-based pan-European business blamed the fall in profits, derived from a turnover of €447.5m (down from €485m in 2007), on shrinking marketing budgets fuelling the overcapacity in the European market.
In a statement, the company said the difficult market conditions had "led to further price erosion and pressure on margins".
RSDB hit the headlines throughout 2008 as a result of its attempts to lead the consolidation of the European market through its continued attempts to acquire Quebecor World's former European operation.
An initial bid for the business failed in December 2007, which led to the collapse of Quebecor World's European operations.
In May it was announced that private equity house HHBV Group was in talks to buy Quebecor World's European operations and bid to take RSDB private to create a pan-European printing behemoth headed up by RSDB chief executive John Caris.
However, that deal collapsed in September leaving HHBV with the Quebecor World assets and John Caris once again frustrated in his attempts to radically boost the size of his empire.
Despite the setbacks, the company said it remained "our aim to play a leading role in the realisation of a European consolidation", but that this meant "taking the necessary actions to restore the balance of supply and demand", as well as increasing scale.
It added that primary efforts would be focused on the creation of a business plan based on a "standalone situation for RSDB".
Looking forward, the company said it expected the net result for 2009 to be negative.
RSDB's shares, which are listed on Euronext Amsterdam, fell 3.7% to €13 in early trading.
For more and an interview with RSDB chief executive John Caris, see next week's PrintWeek
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