JENSEN-GROUP N.V.

Earnings Release • Aug 19, 2014

Under Embargo until 19/08/2014 - 17.45 CET Regulated information

Highlights First half year 2014

• Despite a 17% lower order backlog at the beginning of the year, the revenue of the Group was close to the revenue of last year (-1.9%).
• Operating profit (EBIT) for the first six months amounts to 11.9 million euro, which is 13.7 % higher than last year.
• Cash flow (EBITDA) for the first half year amounts to 12.8 million euro, a 7.2% decrease compared to last year.
• Net profit amounts to 8.2 million euro (Earnings per Share of 1.03 euro), an increase of 16.6 % compared to last year.
• Net cash position amounts to 3.1 million euro, 0.4 million higher compared to December 2013.

Summary overview

Income Statement 30/06/2014- 30/06/2013 Non-audited, consolidated key figures
(million euro)	June 30, 2014 June 30, 2013 6M	6M	Change
Revenue	121,2	123,5	-1,91%
EBIT	11,9	10,5	13,70%
Cash flow (EBITDA) 1	12,8	13,8	-7,23%
Financial result	-0,8	-0,8	-1,85%
Profit before taxes	11,1	9,7	15,01%
Taxes	-2,9	-2,7	10,86%
Net income continuing operations	8,2	7,0	16,59%
Result from discontinued operations	0,0	0,0	23,53%
Net income (Group share in the profit)	8,1	7,0	16,55%
Net cash flow 2	9,1	10,4	-12,29%

Balance sheet as of 30/06/2014- 31/12/2013
Non-audited, consolidated key figures
(Mln euro)		June 30, 2014 Dec 31, 2013 Change
		6M	12M
Equity		67,7	62,2	8,89%
Net financial debt		- 3,1	- 2,7	12,46%
Assets held for sale		0,4	0,4	1,10%
Total assets		154,2	137,4	12,21%

Non-audited, consolidated key figures per share
(euro)	6M	June 30, 2014 June 30, 2013 6M	Change
Cash flow from operations (EBITDA) 1	1,62	1,73	-6,36%
Profit before taxes	1,40	1,21	15,70%
Profit after taxes continuing operations (EPS)	1,03	0,87	18,39%
Net cash flow 2	1,15	1,29	-10,85%
Equity (June 30, 2014 - December 31, 2013)	8,59	7,83	9,71%
Number of shares (end of period)	7.884.297	8.002.968	-1,48%
Number of shares (average)	7.916.852	8.002.968	-1,08%

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 Despite a 17% lower order backlog at the beginning of the year, the turnover of the Group was nearly at the same level as the first half of 2013.
• o At June 30, 2014 the order backlog increased by 38% compared to the backlog at June 30, 2013. Therefore JENSEN-GROUP expects better profitability for the full year compared to 2013.
• EBIT
• o Consolidated EBIT increased from 10.5 million euro to 11.9 million euro (+13.7%) thanks to higher activity and productivity gains.

Other activities

• Total net finance cost amounts to 0.8 million euro and relates to interest charges (0.2 million euro), currency losses (0.2 million euro) and other bank charges (0.4 million euro).
• The net tax charges amount to 2.9 million euro.
• Compared to December 2013, the net cash position increased by 0.4 million euro to 3.1 million euro.
• In view of the growing demand for ecological heavy-duty laundry solutions in New Zealand, the JENSEN-GROUP Executive Management has decided to open a Sales and Service Center in Auckland.

Outlook

At June 30, 2014 the order backlog increased with 38% compared to the backlog at June 30, 2013. Therefore JENSEN-GROUP expects better profitability for the full year compared to 2013.

Major risk factors for the remaining 6 months are competitive pressure as well as the volatility in the financial markets affecting the customers' investment decisions and financing capacities. Other risk factors are high exchange rate volatility and fluctuating raw material prices, energy and transport costs.

Share buy-back

The Board of Directors decided on November 14, 2013 to implement a share buy-back programme to purchase a maximum of 800.300 of the Company's shares. The shares are bought at the Brussels stock exchange by an investment bank mandated by the Board of Directors. The buy-back mandate expires on October 4, 2017. As per August 15, 2014, JENSEN-GROUP holds 183,934 treasury shares.

Shareholders' calendar

November 13, 2014 (evening): Trading update March 2015: Full year results 2014 (Analysts' meeting) May 19, 2015: Shareholders' meeting

Profile

The JENSEN-GROUP assists heavy-duty laundries worldwide to provide quality textile services economically. We have become the 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 20 countries and has distribution in more than 40 countries. Worldwide, the JENSEN-GROUP employs about 1.260 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.