DGAP-Adhoc: Jetter AG Q4 sales plummet, losses ensue

Jetter AG / Key word(s): Profit Warning/Profit Warning

06.05.2013 20:20

Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted
by DGAP - a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.

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Ludwigsburg, 6 May 2013. Jetter AG, Ludwigsburg, (ISIN: DE0006264005)
publishes preliminary figures for the fiscal year ended 31 March 2013. In
the last quarter, the company suffered a setback of sales, mainly through
deferment of major projects and the bankruptcy of a major customer. Sales
were ca. 9 Mio. Euro for the quarter and 40 Mio. Euro for the fiscal year
(previous year: 9 Mio. for the quarter and 44 Mio. for the year).
Management decreed far reaching cost saving measures in March already,
which will be effective only in the current fiscal year, though; the past
year was burdened by restructuring cost. At present, a loss of 1 Mio. Euro
is expected for the quarter and 1.2 Mio. Euro for the year (previous year:
KEUR -82 in the quarter and KEUR +432 for the year).
At the same time, orders started increasing from February 2013. On 31
March, the order book was well above 5 Mio. Euro for the first time since
autumn 2012, partly due to the deferred projects from the previous quarter.

The sales slump was accompanied by by a decrease of elevated stock levels,
so the impact of the loss on the cash balance was mitigated.
The management views the sales slump as a singularity, as projects were
deferred, not cancelled and the bankrupt customer has since been taken over
by an investor.

Because of the cooperation between Emhart Glass and Jetter, the agreement
published last week between the global market leader in glass bottle
production, Owens-Illinois Inc., USA and Emhart Glass will give Jetter
additional sales opportunities. Furthermore, the cost saving program will
now kick in by and by.

The complete business report will be published on 28 June 2013 and will be
available at the websites of Jetter (http://www.jetter.de) and Deutsche
Börse (http://deutsche-boerse.com).
For additional information, please contact:
Jetter AG, Günter Eckert, CFO
Tel.: +49 7141-2550-514
Fax.: +49 7141-2550-555
Email: geckert@jetter.de

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Language: English
Company: Jetter AG
Gräterstraße 2
71642 Ludwigsburg
Germany
Phone: 07141 2550-0
Fax: 07141 2550-425
E-mail: info@jetter.de
Internet: www.jetter.de
ISIN: DE0006264005
WKN: 626400
Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr
in Berlin, Düsseldorf, Hamburg, Stuttgart

End of Announcement DGAP News-Service

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