JENSEN-GROUP N.V.

Earnings Release • Aug 18, 2015

Under Embargo until 18/08/2015 - 17.45 CET Regulated information

Press Release

Record activity level in first half-year clearly influenced by currencies

Highlights First half year 2015

• Revenue of the first half-year of 2015 amounts to 150.6 million euro, a 24.3% increase compared to last year.
• Operating profit (EBIT) for the first six months amounts to 13.5 million euro, which is 13.6% higher than last year.
• The weak euro has significant effects on the currency translation adjustment of 2.4 MEUR (Equity), increases the revenues by 11.2 MEUR and influences the costs by 10.5 MEUR.
• Cash flow (EBITDA) for the first half-year amounts to 16.9 million euro, a 31.3% increase compared to last year.
• Net profit from the continuing operations amounts to 9.3 million euro (Earnings per Share of 1.19 euro), an increase of 14.4% compared to last year.
• Net financial debt amounts to 12.7 million euro and increased by 19.1 million euro compared to December 2014.

Summary overview

Income Statement 30/06/2015- 30/06/2014 Non-audited, consolidated key figures

		June 30, 2015 June 30, 2014		Change
	(million euro)	6M	6M
Revenue		150,6	121,2	24,32%
EBIT		13,5	11,9	13,61%
Cash flow (EBITDA) 1		16,9	12,8	31,33%
Financial result		-1,2	-0,8	55,35%
Profit before taxes		12,3	11,1	10,62%
Taxes		-3,0	-2,9	0,10%
Net income continuing operations		9,3	8,2	14,42%
Result from discontinued operations		0,0	0,0	4,76%
Net income (Group share in the profit)		9,3	8,1	14,47%
Net cash flow 2		13,2	9,1	45,03%

Balance sheet as of 30/06/2015- 31/12/2014 Non-audited, consolidated key figures

Balance sheet as of 30/06/2015- 31/12/2014 Non-audited, consolidated key figures
		June 30, 2015 Dec	31, 2014	Change
	(million euro)	6M	12M
Equity		78,4	70,1	11,79%
Net financial debt		12,7	-6,4	-298,92%
Assets held for sale		0,4	0,4	8,50%
Total assets		184,5	157,7	16,96%

Non-audited, consolidated key figures per share

		June 30, 2015 June 30, 2014	Change
(euro)	6M	6M
Cash flow from operations (EBITDA) 1	2,16	1,62	33,33%
Profit before taxes	1,57	1,40	12,14%
Profit after taxes continuing operations (EPS)	1,19	1,03	15,53%
Net cash flow 2	1,69	1,15	46,96%
Equity (June 30, 2015 - December 31, 2014)	10,02	8,97	11,71%
Number of shares (end of period)	7.818.999	7.884.297	-0,83%
Number of shares (average)	7.818.999	7.916.852	-1,24%

1 EBITDA = earnings before interest, taxes, depreciation and amortization; This is operating profit plus depreciation and amounts written off on stocks, trade debtors, impairment losses and provisions for liabilities and charges.

²The net cash flow is the net income (Group share in the profit) excluding depreciation, amounts written off on stocks, trade debtors, impairment losses and provisions for liabilities and charges.

Operating activities

• Revenue
• o Starting from a high order backlog at the beginning of the year, the turnover of the Group was higher than in the first half of 2014.
• o The weakness of the euro resulted in a significant positive translation impact on sales outside the euro zone.
• o At June 30, 2015 the order backlog increased by 4% compared to the backlog at June 30, 2014. Considering the finished goods and work in progress, our work reserve in the factories is 14% lower than as at June 2014.
• EBIT
• o Consolidated EBIT increased from 11.9 million euro to 13.5 million euro (+13.6%) thanks to the higher activity level.
• o The weak euro has significant effects on both revenues (+11.2 MEUR) and on the costs (+10.5 MEUR).

Other activities

• Total net finance cost amounts to 1.2 million euro and relates interest charges (0.2 million euro), net currency losses (0.6 million euro) and other charges (0.4 million euro).
• The net tax charges amount to 3.0 million euro.
• Compared to December 2014, the net financial debt increased by 19.1 million euro to 12.7 million euro due to the high activity level.
• JENSEN Denmark A/S signed a purchase agreement with a third party on June 10th, 2015: JENSEN Denmark will take over the land and factory building adjacent to our plant as of January 1, 2016. This will enable JENSEN Denmark to expand its capacity.

Outlook

At June 30, 2015 the order backlog increased by 4% compared to the backlog at June 30, 2014. Considering the finished goods and work in progress, our work reserve in the factories is 14% lower than as at June 2014. JENSEN-GROUP expects 2015 revenue to be higher than prior year.

The most important risk factors remain rapid changes in demand, availability of financing to our customers, high exchange rate volatility and fluctuating raw material, energy and transport prices.

Share buy-back

The Board of Directors of November 14, 2013 decided to implement a share repurchase programme to buy back maximum 800,300 of its shares. The shares are bought at the stock exchange by an investment bank mandated by the Board of Directors. The buy-back mandate expires on October 4, 2017. As per August 14, 2015, JENSEN-GROUP holds 183,969 treasury shares.

Shareholders' calendar

November 13, 2015 (evening): Trading update Q3 March 2016: Full year results 2015 (Analysts' meeting) May 2016: Shareholders' meeting

Profile

The JENSEN-GROUP assists heavy-duty laundries worldwide to provide quality textile services economically. We have become a preferred supplier in the laundry industry by leveraging our broad laundry expertise to design and supply sustainable single machines, systems and integrated solutions. We are continuously growing by extending our offer and by developing environmental friendly and innovative products and services that address specific customer needs. Our success results from combining our global skills with our local presence. The JENSEN-GROUP has operations in 21 countries and has distribution in more than 40 countries. Worldwide, JENSEN-GROUP employs about 1,285 employees.

This press release and the full text of the Interim Financial Information, in accordance with IAS 34, are available on the corporate website www.jensengroup.com.

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Note to the editors: for more information, please contact: JENSEN-GROUP: Jesper Munch Jensen, Chief Executive Officer Markus Schalch, Chief Financial Officer Scarlet Janssens, Investor Relations Manager Tel. +32.9.333.83.30 E-mail: investor@jensen-group.com.