In its 2009 financial figures, the press ancillaries manufacturer said its technology division had been hit "particularly hard" by the global recession, resulting in a 53% drop in business.

Group revenue also plummeted, dropping 42% for the year to €82.2m, compared with €141.7m in 2008.

This was primarily due to the knock-on effect of a decline in orders for new printing presses, which Technotrans said were periodically down by more than 60% during the year.

Meanwhile, in the company's services segment, sales were down 11.7%.

However, the "biggest burden" on Technotrans' profitability was a €6.5m compensation payment paid to process automation technology specialist Baldwin last year in an out-of-court settlement relating to a patent infringement case that was begun nine years ago in Germany.

The settlement negatively impacted the company's operating result by €3.7m, which Technotrans said was the difference between the settlement figure and the corresponding provision made by the company.

Henry Brickenkamp, spokesman for the management board at Technotrans, said: "The 2009 financial year was characterised by exceptionally negative momentum. The 42% drop in revenue was the most extreme reversal in the history of the company.

"In the course of the year, the company has been adjusted to the lower level of revenue and we are confident of returning to profitability in the 2010 financial year."

He added that the company was "not satisfied" with its performance in 2009, after failing to achieve its target of breaking even for the full year.

Dirk Engel, finance director at Technotrans, said the group expected to increase revenues to €85m-90m in 2010.

"Our goal for the 2010 financial year is to return to sustained profitability. The measures we have been taking since 2008 should pave the way for an EBIT margin of at least 3%-5% in the 2010 financial year," he added.