Jetter AG
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Continuing Sales Slump due to Semiconductor Crisis and Economic Downturn
Ad-hoc-announcement transmitted by DGAP.
The issuer is solely responsible for the content of this announcement.
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Continuing Sales Slump due to Semiconductor Crisis and Economic Downturn
Ludwigsburg, 30 November 2001 – The drastic investment reduction in the
semiconductor industry and the economic downturn in Germany meant a sales
decrease of 41.1%, from EUR 11.9 Mio to EUR 7.0 Mio, for Jetter AG during the
first semester of the fiscal year. EBIT for this period was EUR -3.3 Mio
(previous year: EUR +0.6 Mio) and the consolidated result was EUR -3.6 Mio
(previous year: EUR +0.5 Mio).
In the second quarter of the fiscal year 2001/02, Jetter sales fell by 54.1% to
EUR 3.4 Mio, compared with the record sales in the same quarter of the previous
year (EUR 7.4 Mio). This decline, as compared with the previous year’s quarter,
is partly due to the fact that the reference period was marked by an excessive
semiconductor boom. Consequently, the slump was particularly grave in Asia (-
88%) and America (-90%). In the second quarter of the fiscal year 2001/02,
Jetter recorded an EBIT of EUR -1.5 Mio (previous year: EUR +0.9 Mio) and a
consolidated loss of EUR -1,7 Mio (previous year: EUR +0.8 Mio). Earnings per
share according to VDFA/SG were EUR -0.71 (previous year: EUR +0.35).
For the next six months, Jetter expects no significant changes in the general
economic conditions; sales are therefore expected to consolidate on a low level.
The current JetWeb projects are expected to have a significant impact on sales
figures only as of the next fiscal year. The already initiated cost-cutting
measures, though, will have a considerable effect in the second semester.
As part of the cost-cutting program, the scheduled change in the management
board was suspended. Martin Jetter will temporarily fill the post of CFO. The
current CFO, Andreas Gatter, will be responsible for the finance department.
Jetter is still convinced that the cash assets amounting to EUR 7.6 Mio can
secure the market introduction of the JetWeb technology and thus the company’s
future.
The complete quarterly report can be obtained at http://www.jetter.de .
For additional information please contact:
Jetter AG, Martin Jetter, CEO
Tel.: +49 7141-2550-410
E-Mail: mjetter@jetter.de
end of ad-hoc-announcement (c)DGAP 30.11.2001
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WKN: 626400; Index:
Listed: Neuer Markt in Frankfurt; Freiverkehr in Berlin, Bremen, Düsseldorf,
Hamburg, Hannover, München, Stuttgart
300853 Nov 01
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