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© bellemedia-dreamstime.com Electronics Production | February 05, 2014

Jetter AG suffers a quarterly loss and leaves the stock exchange

In the nine months from April to December 2013, the Jetter group reached sales EUR 30.3 million, down EUR 806'000 from last years 31.2 million.

A product recall in the quarter led to once-off costs of EUR 482'000. Two major trade fairs and consultancy costs further burdened the quarter, driving EBIT to EUR -911'000 for the quarter and EUR -708'000 for the nine months. Deferred taxes led to an expense of EUR 666'000. Earnings per share were EUR -0.49 for the quarter and -0.44 for the nine months (previous year: EUR 0.05 and -0.06). These effects will not be set off in the last fiscal quarter until 31 March 2014. Management expects stable sales and a small profit in the fourth quarter. The initial targets for the year, however, will not be reached. The listing of Jetter shares in the regulated market will end on 30 April 2014. Contrary to previous intentions, management has today decided not to apply for listing in the Entry Standard. From May 2014, Jetter shares will no longer be traded in the regulated market on the stock exchange.
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