Contact
QR code for the current URL

Press release Box-ID: 594248

Jetter AG Gräterstraße 2 71642 Ludwigsburg, Germany http://www.jetter.de
Contact Mr Günter Eckert +49 7141 2550514
Company logo of Jetter AG

Jetter AG Q4 sales plummet, losses ensue

(PresseBox) (Ludwigsburg, )
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).

Website Promotion

Website Promotion
The publisher indicated in each case is solely responsible for the press releases above, the event or job offer displayed, and the image and sound material used (see company info when clicking on image/message title or company info right column). As a rule, the publisher is also the author of the press releases and the attached image, sound and information material. The use of information published here is generally free of charge for personal information and editorial processing. Please clarify any copyright issues with the stated publisher before further use. In case of publication, please send a specimen copy to service@pressebox.de.
Important note:

Systematic data storage as well as the use of even parts of this database are only permitted with the written consent of unn | UNITED NEWS NETWORK GmbH.

unn | UNITED NEWS NETWORK GmbH 2002–2022, All rights reserved

The publisher indicated in each case is solely responsible for the press releases above, the event or job offer displayed, and the image and sound material used (see company info when clicking on image/message title or company info right column). As a rule, the publisher is also the author of the press releases and the attached image, sound and information material. The use of information published here is generally free of charge for personal information and editorial processing. Please clarify any copyright issues with the stated publisher before further use. In case of publication, please send a specimen copy to service@pressebox.de.