Jetter AG

euro adhoc: Jetter AG
Annual Reports
Jetter concludes a year of restructuring (E)

--------------------------------------------------------------------- Disclosure announcement transmitted by euro adhoc. The issuer is responsible for the content of this announcement. ---------------------------------------------------------------------

Jetter concludes a year of restructuring Ludwigsburg, 26 June 2003 - Jetter AG (Prime Standard: JTT) today publish their business report as of 31 March 2003. The year has been marked by far-reaching restructuring and cost-cutting measures. Due to lead times, restructuring costs and write-downs, though, effects in the year were circumscribed. Consolidated loss is 6.9 Mio. Euro after 6.3 Mio. Euro in the previous year, with sales at 13.3 Mio. Euro (less 5.6 %). One should bear in mind that under the company’s conservative accounting policy, capitalisation of development cost was near nil (previous year: 1.5 Mio. Euro). The result also includes 1.0 Mio. Euro of one-time restructuring costs and about 1 Mio. Euro amortisation of goodwill and development cost, which had no impact on cash-flow. The co-operation with Lumberg Automation GmbH & Co. KG, signed early 2003, has been successfully implemented on the ground. The sales forces of both companies are already operating under the umbrella of Lumberg-Jetter GmbH & Co. KG. Jointly developed products will be available from Q3/2003. For the new fiscal year 2003/04, Jetter expects sales to grow by 15-20 %, notwithstanding a flat economy, due to new JetWeb customers, at neutral EBITDA. In the first quarter (30 June), cash-flow could already be minimised. The complete report in electronic form is 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 E-Mail: geckert@jetter.de

end of announcement            euro adhoc 26.06.2003
---------------------------------------------------------------------

Further inquiry note: Günter Eckert

Branche: Semiconductors & active components
ISIN:      DE0006264005
WKN:        626400
Index:    CDAX, Prime All Share, Prime Standard, Technologie All Share
Börsen:  Frankfurter Wertpapierbörse / regulated dealing
              Berliner Wertpapierbörse / free trade
              Hamburger Wertpapierbörse / free trade
              Börse Düsseldorf / free trade
              Baden-Württembergische Wertpapierbörse / free trade



Weitere Meldungen: Jetter AG

Das könnte Sie auch interessieren: