UPDATE 1-Oce Q2 misses forecasts, sees no improvement

* Sees no improvement in relevant markets in H2

* Revenue down 4.1 pct to 676 mln euros

* Net debt/EBITDA ratio 2.4, below 3.25 in amended covenants

(Adds CEO quote, detail, background)

AMSTERDAM, July 2 (Reuters) - Dutch photocopier and printer maker Oce NV (OCEN.AS) posted a 14 million euro ($19.7 million) second-quarter net loss, missing average analyst expectations, and said it did not expect its markets to recover this year.

Analysts had expected a net loss of 9 million euros for the March-May period.

The mid-cap company, which makes printers, copiers and scanners and offers document-management and maintenance services, said on Thursday revenue was down 4.1 percent at 676 million euros compared with the average analyst expectation of 666 million.

Chief Executive Rokus van Iperen said in a statement market conditions were "more challenging than in the first quarter".

Oce announced in May it would speed up plans to cut costs with a further reduction of 800 jobs and 64 million euros in savings through 2010.

The Venlo-based company, which competes with Xerox (XRX.N), Konica Minolta (4902.T) and Canon (6344.OS), also amended its loan covenants allowing its net debt to earnings before interest, taxes, depreciation and amortisation (EBITDA) ratio to rise to as much as 3.25.

At the end of the second quarter the ratio was 2.4 based on the new covenants, Oce said.