Overall, PrintXpress managed to stand its ground in what has become an increasingly volatile market. Despite price-related pressures and somewhat sluggish demand, we succeeded in raising tonnage output slightly and maintaining earnings before interest and taxes at a stable level. Given the current market climate, we can certainly draw encouragement from this performance. As regards our performance in the financial year as a whole, the coming months will prove decisive, a situation which is all the more challenging when one considers that this period is traditionally less buoyant than others. Having said that, we have yet to record a clear trend in this area.

By contrast, our industry’s route for the medium term has already been charted: market consolidation within the European gravure-printing sector has clearly gathered pace. Exposed to these changes, many suppliers are currently assessing their position. What is more, there is evidence to suggest that customers are also considering the merits of allocating clearly defined printing volumes to a select group of service providers. Thus, both suppliers and customers are undergoing a process of repositioning themselves. Drawing strength from its powerful position as the second-largest player within the European gravure-printing market and buoyed by a solid customer base, best-in-class production sites and many years of M&A experience, PrintXpress will make every effort to seize the opportunities arising from a changing market in the interests of all its stakeholders – customers, shareholders and employees alike.