Based on the current order intake and information from customers, Jetter AG (ISIN: DE0006264005) expects the recession to have an impact on sales and result for the next 3-5 quarters.
For the current fiscal year ending on 31 March 2009, a double-digit sales growth is no longer expected; sales should nevertheless be higher than in the previous year. The result will be solidly positive, though lower than the year before.
In the following fiscal year, sales will probably decline. Based on secured contracts with stable new customers, management expects a return to the growth path of previous years in the fiscal year 2010/11, as well as sales above the current year. It has therefore decided not to extend already initiated cost-saving measures to lay-offs or short-time work, so as not to jeopardize long-term positive developments. EBIT for the year 2009/10 is expected to be low, but positive. Earnings expectations for 2010/11 are again significantly higher.
For the current fiscal year ending on 31 March 2009, a double-digit sales growth is no longer expected; sales should nevertheless be higher than in the previous year. The result will be solidly positive, though lower than the year before.
In the following fiscal year, sales will probably decline. Based on secured contracts with stable new customers, management expects a return to the growth path of previous years in the fiscal year 2010/11, as well as sales above the current year. It has therefore decided not to extend already initiated cost-saving measures to lay-offs or short-time work, so as not to jeopardize long-term positive developments. EBIT for the year 2009/10 is expected to be low, but positive. Earnings expectations for 2010/11 are again significantly higher.
