Jost Werke's 3Q North American Sales Hampered by US Dollar -- Currency Comment

By Mauro Orru

Jost Werke AG reported higher third-quarter sales in North America as it benefited from strong demand in the region, but said the depreciation of the U.S. dollar against the euro held back sales growth.

The producer and supplier of safety-critical systems for commercial vehicles said sales in the region rose 62.5% to EUR67.4 million, noting that growth would have been 63.7% without negative currency effects.

"Negative currency translation effects of -1.2% impacted sales due to the depreciation of the U.S. dollar against the euro. Adjusted for this effect, Jost posted growth of 63.7% in North America in the third quarter of 2021," the company said.

The euro currently trades at $1.1462.

Write to Mauro Orru at [e-mail]; @MauroOrru94

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11-11-21 0448ET