Jetter continues to suffer from machinery slump, recovery expected for second semester 2010

(PresseBox) ( Ludwigsburg, )
Jetter AG (ISIN: DE0006264005) has finished their third fiscal quarter on 31 December 2009. The Jetter group continued to be afflicted by the ongoing slump in the machinery industry. Quarterly sales declined further to KEUR 6,449 (Previous year: KEUR 8,985). Sales for the nine months were 21.6 Mio. EUR, 32 % less than the 31.7 Mio. EUR in the previous year. Costcutting measures notwithstanding, EBIT was a loss of KEUR - 852 for the quarter and KEUR - 2,021 for the nine months (previous year: KEUR - 114 and KEUR + 1,731). Diluted and undiluted earnings per share were EUR - 0.28 for the quarter and EUR - 0.75 for the nine months (previous year: EUR - 0.01 and + 0.53).

Based on the persistently difficult conditions in the machinery business, management expects oscillating sales and negative results to be around for another six months. Management expects the tension to ease only from mid-2010, when serial sales of new products from the mobile automation range shall begin. Furthermore, there are timid signs of existing customers' order books improving in the second half of 2010. Until then, the main focus is on the preservation of liquidity and on the organisational preparation for the expected upturn.

The complete interim report will be published on 12 February 2010 and will be available at the websites of Jetter (http://www.jetter.de) and Deutsche Börse (http://deutsche-boerse.com).
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