JENSEN-GROUP N.V.

Quarterly Report • Aug 20, 2013

Regulated information

JENSEN-GROUP Half Year Results 2013

Consolidated, non-audited key figures

Income Statement 30/06/2013- 30/06/2012
Non-audited, consolidated key figures
(million euro)	June 30, 2013	June 30, 2012	Change
	6M	6M
Revenue	123,5	115,5	6,91%
EBIT3	10,5	8,6	21,08%
Cash flow (EBITDA) 1	13,8	9,4	47,39%
Financial result3	-0,8	-1,1	-25,96%
Profit before taxes	9,7	7,5	27,90%
Taxes	-2,7	-2,6	0,72%
Net income continuing operations	7,0	4,9	42,53%
Result from discontinued operations	0,0	0,0
Net income (Group share in the profit)	7,0	4,9	42,83%
Net cash flow 2	10,4	5,7	83,42%
Balance sheet as of 30/06/2013- 31/12/2012
	Non-audited, consolidated key figures
(Mln euro)	June 30, 2013 Dec 31, 2012		Change
	6M	12M
Equity	59,8	54,6	9,54%
Net financial debt	11,9	10,9	9,66%
Assets held for sale	0,4	0,4	0,79%
Total assets	146,5	148,2	-1,15%
Non-audited, consolidated key figures per share
(euro)	June 30, 2013 6M	June 30, 2012 6M	Change
Cash flow from operations (EBITDA) 1	1,73	1,17	47,86%
Profit before taxes	1,21	0,94	28,72%
Profit after taxes continuing operations (EPS)	0,87	0,61	42,62%
Net cash flow 2	1,29	0,71	81,69%
Equity (June 30, 2013 - December 31, 2012)	7,47	6,82	9,53%

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.

3 Reclassification of 0.1 million currency gain to EBIT in 2013 and 0.3 million currency loss in 2012.

Number of shares (end of period) 8.002.968 8.002.968 Number of shares (average) 8.002.968 8.002.968

Interim Financial Information June 30, 2013

Financial review

• Revenue of the first half-year of 2013 amounts to 123.5 million euro, a 6.91% increase compared to last year.
• Operating profit (EBIT) for the first six months amounts to 10.5 million euro, which is 21.08 % higher than last year.
• Cash flow (EBITDA) for the first half year amounts to 13.8 million euro, a 47.39% increase compared to last year.
• Net profit amounts to 7.0 million euro (Earnings per Share of 0.87 euro), an increase of 42.53 % compared to last year.
• Net financial debt amounts to 11.9 million euro and increased by 1.0 million euro compared to December 2012.
• JENSEN-GROUP continues to expand its worldwide distribution network: On June 11, 2013 JENSEN Brasil was created. On July 3, 2013 JENSEN Japan Co. has been incorporated. On August 16, 2013 JENSEN-GROUP took over its Austrian distributor ÖWM. This transaction will not have a material impact on the financial statements of JENSEN-GROUP as most of the activities are already reflected in the consolidated Group results as distributors' sales.

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 2012. The increase in turnover is primarily due to higher activity in the USA, in Canada as well as in the Far East.
• o At June 30, 2013 the order backlog decreased by 34% compared to the backlog at June 30, 2012. Therefore JENSEN-GROUP expects a lower second half and has aligned its production capacity.
• EBIT
• o Consolidated EBIT increased from 8.6 million euro to 10.5 million euro (+21.08%) due to the higher activity level and productivity gains.

Report of the Board of Directors

Important developments of the first 6 months

Revenue is higher than the first half year of 2012 (123.5 million euro compared to 115.5 million euro prior year) due to a high order backlog at the beginning of the year. JENSEN-GROUP enjoyed a high activity level in the USA, in Canada as well as in the Far East.

The higher activity level and productivity gains contributed to the increase in operating profit by 21.08% over the last year.

The financial result was 0.3 million euro better than prior year: JENSEN-GROUP recorded a currency gain compared to a currency loss in 2012.

JENSEN-GROUP changed the valuation rules regarding the allocation of the currency gains and losses: In order to have a better matching of the result on transactions in foreign currency, the Audit Committee approved in November 2012 to change the recording of currency gains and losses. Depending on the nature of the currency effect, it is presented in operating or financial result. As per June 2013, 0.1 million euro currency gain is classified in the operating result. In the comparable figures of 2012, 0.3 million euro currency loss is classified in operating result. There is no impact on the net income as it is only a reclassification.

All the factors described above resulted in a 2.1 million euro increase in the Groups net income from continuing operations (from 4.9 million euro to 7.0 million euro).

Outlook for the remaining 6 months

At June 30, 2013 the order backlog decreased by 34% compared to the backlog at June 30, 2012. Therefore JENSEN-GROUP expects a lower second half and has aligned its production capacity.

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.

Important transactions with related parties

There were no important transactions with related parties.

Events after balance sheet date

The JENSEN-GROUP decided to expand its presence in Japan and incorporated JENSEN Japan Co on July 3, 2013.

On August 16, 2013 JENSEN-GROUP took over its Austrian distributor ÖWM. This transaction will not have a material impact on the financial statements of JENSEN-GROUP as most of the activities are already reflected in the consolidated Group results as distributors' sales.

Ghent, August 20, 2013

Raf Decaluwé Jesper M. Jensen Chairman of the Board of Directors Chief Executive Officer

Statement of the Responsible Persons

We hereby certify that, to the best of our knowledge, the condensed consolidated financial statements for the six-months period ended June 30, 2013 which has been prepared in accordance with the IAS 34 "Interim Financial Reporting" as adopted by the European Union, gives a true and fair view of the assets, liabilities, financial position and profit or loss of the company and the entities included in the consolidation as a whole, and that the interim management report includes a fair review of the important events that have occurred during the first six months of the financial year and of the major transactions with the related parties, and their impact on the condensed consolidated financial statements, together with a description of the principal risks and uncertainties for the remaining six months of the financial year.

Ghent, August 20, 2013

Jesper M. Jensen Markus Schalch Chief Executive Officer Chief Financial Officer

CONDENSED CONSOLIDATED STATEMENT OF FINANCIAL POSITION

		June 30 2013	December 31 2012
(in thousands of euro)	Notes
Total Non-Current Assets		30.431	29.860
Intangible assets		4.795	4.865
Property, plant and equipment		18.681	18.818
Trade and other long term receivables		838	865
Deferred taxes		6.117	5.312
' Total Current Assets		116.079	118.361
Inventories		29.089	28.409
A. Trade debtors B. Other amounts receivable		52.544 3.626	47.015 3.381
C. Gross amounts due from customers for contrac t work D. Derivative Financial Instruments Trade and other receivables		24.584 160 80.914	29.059 232 79.687
Cash and cash equivalents	4	5.694	9.886
Assets held for sale		382	379
TOTAL ASSETS		146.510	148.221

(in thousands of euro)	Notes	June 30 2013	December 31 2012
Equity attributable to equity holders		59.791	54.585
Share Capital		36.523	36.523
Other reserves		-4.523	-4.770
Retained earnings		27.791	22.832
Non Current Liabilities		20.360	20.800
Borrowings		6.894	7.219
Finance lease obligations			71
Deferred income tax liabilities		180	274
Provisions for employee benefit obligations		12.735	12.608
Derrivative financial instruments		551	628
Current Liabilities		66.359	72.836
Borrowings		10.584	13.328
Finance lease obligations		145	146
Provisions for other liabilities and charges		12.565	10.884
A. Trade debts B. Advances received for contrac t work C. Remuneration and social security D. Other amounts payable E. Accrued expenses Derivative financial instruments		15.655 5.435 9.911 1.247 6.034 443	19.538 9.495 8.965 1.601 5.658 635
Trade and other payables		38.725	45.892
Current income tax liabilities TOTAL EQUITY AND LIABILITIES		4.340 146.510	2.586 148.221

CONDENSED CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME

(in thousands of euro)	Notes	June 30, 2013	June 30, 2012
Revenue	3	123.533	115.546
Total expenses		-113.087	-107.236
Other Income / ( Expense)		18	332
Operating profit before tax and finance (cost)/ income		10.464	8.642
Net financial charges		-810	-1.094
Profit before tax		9.654	7.548
Income tax expense		-2.660	-2.641
Profit for the half-year from continuing operations		6.994	4.907
Result from discontinued operations		-34	-34
Consolidated profit for the half-year		6.960	4.873
Other comprehensive income: Gains/(losses) recognized directly in equity
Financial instruments		809	-240
Currency translation differences		-373	742
Actual gains/(losses) on Defined Benefit Plans		77	-27
Tax on items taken directly on or transferred from equity		-266	80
TOTAL OTHER COMPREHENSIVE INCOME/(LOSS) FOR THE HALF-YEAR		247	555
TOTAL COMPREHENSIVE INCOME FOR THE HALF-YEAR		7.207	5.428
Profit attributable to:
Equity holders of the company		6.960	4.873
Total comprehensive income attributable to: Equity holders of the company		7.207	5.428
Basic and diluted earnings per share (in euro's) Weighted average number of shares		0,87 8.002.968	0,61 8.002.968

CONDENSED CONSOLIDATED STATEMENT OF CHANGES IN EQUITY

June 30, 2012	42.715	5.813	48.528	1.735	-1.273	-2.833	-2.371	17.309	63.466
Dividend paid out	0	0	0	0			0	-2.001	-2.001
Total other comprehensive income/(loss) for the half-year, net of tax	0	0	0	742	-168	-19	555	0	555
Tax on items taken directly to or transferred from equity	0	0	0	0	72	8	80		80
Defined Benefit Plans	0	0	0	0	0	-27	-27	0	-27
Financial instruments	0	0	0	0	-240	0	-240	0	-240
Currency Translation Difference	0	0	0	742	0	0	742	0	742
Other comprehensive income
Result of the period	0	0	0	0	0	0	0	4.873	4.873
December 31, 2011	42.715	5.813	48.528	993	-1.105	-2.814	-2.926	14.437	60.039
In thousands of euro	Capital	Share premium	Total Share Capital	Translation differences	Hedging Reserves	Ac tuarial gains and losses on Defined Benefit Plans	Total other Reserves	Retained earnings	Total Equity

In thousands of euro	Capital	Share premium	Total Share Capital	Translation differences	Hedging Reserves	Actuarial gains and losses on Defined Benefit Plans	Total other Reserves	Retained earnings	Total Equity
December 31, 2012	30.710	5.813	36.523	1.009	-977	-4.802	-4.770	22.832	54.585
Result of the period	0	0	0	0	0	0	0	6.960	6.960
Other comprehensive income
Currency Translation Difference	0	0	0	-373	0	0	-373	0	-373
Financial instruments	0	0	0	0	809	0	809	0	809
Defined Benefit Plans	0	0	0	0	0	77	77	0	77
Tax on items taken directly to or transferred from equity	0	0	0	0	-243	-23	-266	0	-266
Total other comprehensive income/(loss) for the half-year, net of tax	0	0	0	-373	566	54	247	0	247
Dividend paid out	0	0	0	0	0	0	0	-2.001	-2.001
June 30, 2013	30.710	5.813	36.523	636	-411	-4.748	-4.523	27.791	59.791

The notes on pages 13 to 19 are an integral part of this condensed consolidated interim financial

information.

CONDENSED CONSOLIDATED CASH FLOW STATEMENT

(in thousands of euro)	Notes	June 30	June 30
		2013	2012
Cash flows from operating activities		12.988	10.088
Changes in working capital		-8.643	-11.111
Corporate income tax paid		-906	-3.659
Net cash flow from operating activities - continuing operations		3.439	-4.682
Net cash flow from operating activities - discontinued operations		-37	-5.443
Net cash flow from operating activities - total		3.402	-10.125
Net cash flow from investment activities		-1.269	4.152
Cash flow before financing		2.133	-5.973
Net cash flow from financial activities		-122	3.572
Net Change in cash and cash equivalents		2.011	-2.401
Cash, cash equivalent and bank overdrafts at the beginning of the year Exchange gains/(losses) on cash and bank overdrafts		-976 -373	-334 742
Cash, cash equivalent and bank overdrafts at the end of the period	4	662	-1.993

Notes to the condensed consolidated financial statements

Note 1 - Basis of Preparation

The JENSEN-GROUP (hereafter "The Group") is one of the major suppliers to the heavy-duty laundry industry. The Group markets its products and services under the JENSEN brand and is a leading supplier to the heavy-duty market. The product range varies from transportation and handling systems, tunnel washers, separators, feeders, ironers, folders to complete project management for fully-equipped and professionally managed industrial laundries. The JENSEN-GROUP has operations in 18 countries and distributes its products in more than 40 countries. Worldwide, the JENSEN-GROUP employs approximately 1.170 people.

JENSEN-GROUP N.V. (hereafter "The Company") is incorporated in Belgium. Its registered office is at Bijenstraat 6, 9051 Sint-Denijs-Westrem, Belgium.

The JENSEN-GROUP shares are quoted on the Euronext Stock Exchange.

This condensed consolidated interim financial information is for the first half-year ended June 30, 2013. These interim financial statements are prepared in accordance with IAS 34 "Interim Financial Reporting", as adopted by the EU. The accounting policies used in the preparation of the interim financial statements are consistent with those used in the annual financial statements for the year ended December 31, 2012 except for the classification of currency result as set out in note 2.

This condensed consolidated interim financial information should be read in conjunction with the 2012 annual IFRS consolidated financial statements.

This condensed consolidated interim financial information has been reviewed by an independent auditor, not audited.

The policies have been consistently applied to all the periods presented.

Taxation is determined annually and, accordingly, the tax charge for the interim period involves making an estimate of the likely effective tax rate for the year. The calculation of the effective tax rate is based on an estimate of the tax charge or credit for the year expressed as a percentage of the expected accounting profit or loss. This percentage is then applied to the interim result, and the tax is recognized rateably over the year as a whole.

This condensed consolidated interim financial information has been prepared in accordance with those IFRS standards and IFRIC interpretations issued and effective or issued and early adopted as at 30 June 2013 which have been adopted by the European Union, as follows:

The new standards, amendments to standards and interpretations listed below reflect the endorsement status at 30 June 2013.

The following new standards, amendments to standards and interpretations are mandatory for the first time for the financial year beginning 1 January 2013:

• Amendments to IFRS 1 'First-time adoption of IFRSs' related to severe hyperinflation and the removal of fixed dates for first-time adopters. These amendments are effective on or after 1 January 2013.
• Amendments to IAS 12 'Deferred taxes', effective on or after 1 January 2013. The amendments provide a practical approach for measuring deferred tax liabilities and deferred tax assets when investment property is measured using the fair value model.
• Amendments to IAS 1 'Presentation of financial statements', effective for annual periods beginning on or after 1 July 2012. The amendment changes the disclosure of items presented in other comprehensive income (OCI) in the statement of comprehensive income.
• IAS 19 Revised 'Employee benefits', effective for annual periods beginning on or after 1 January 2013. Through these amendments significant changes are made to the recognition and measurement of defined benefit pension expense and termination benefits, and to the disclosures for all employee benefits.
• Amendments to IFRS 1 'First-time adoption of IFRSs' related to government loans, dealing with loans received from governments at a below market rate of interest, give first-time adopters of IFRSs relief from full retrospective application of IFRSs when accounting for these loans on transition. These amendments are effective for annual periods beginning on or after 1 January 2013.
• Amendments to IFRS 7 'Disclosures Offsetting financial assets and financial liabilities', effective for annual periods beginning on or after 1 January 2013. The amendment reflects the joint requirements with the FASB to enhance current offsetting disclosures. The new disclosures are intended to facilitate comparison between those entities that prepare IFRS financial statements to those that prepare financial statements in accordance with US GAAP.
• IFRS 13 'Fair value measurement', effective for annual periods beginning on or after 1 January 2013. The new standard explains how to measure fair value for financial reporting.
• IFRIC 20 'Stripping costs in the production phase of a surface mine', effective for annual periods beginning on or after 1 January 2013. IFRIC 20 sets out the accounting for overburden waste removal (stripping) costs in the production phase of a mine. The interpretation may require mining entities to write off existing stripping assets to opening retained earnings if the assets cannot be attributed to an identifiable component of an ore body.
• IASB publishes 'Annual improvements' with minor amendments to five standards for 2013 year ends including IFRS 1, 'First time adoption of IFRS', IAS 1, 'Presentation of financial

statements', IAS 16, 'Property, plant and equipment', IAS 32, 'Financial instruments: Presentation' and IAS 34, 'Interim financial reporting'.

The following new standards and amendments to standards have been issued and have been endorsed by the European Union, but are not mandatory for the first time for the financial year beginning 1 January 2013:

• IAS 27 Revised 'Separate financial statements', effective for annual periods beginning on or after 1 January 2014. The revised standard includes the provisions on separate financial statements that are left after the control provisions of IAS 27 have been included in the new IFRS 10.
• IAS 28 Revised 'Investments in associates and joint ventures', effective for annual periods beginning on or after 1 January 2014. The revised standard now includes the requirements for joint ventures, as well as associates, to be equity accounted following the issue of IFRS 11.
• IFRS 10 'Consolidated financial statements', effective for annual periods beginning on or after 1 January 2014. The new standard builds on existing principles by identifying the concept of control as the determining factor in whether an entity should be included within the consolidated financial statements.
• IFRS 11 'Joint arrangements', effective for annual periods beginning on or after 1 January 2014. The new standard focuses on the rights and obligations rather than the legal form. Proportional consolidation is no longer allowed.
• IFRS 12 'Disclosure of interests in other entities', effective for annual periods beginning on or after 1 January 2014. This is a new standard on disclosure requirements for all forms of interests in other entities.
• Amendments to IFRS 10 'Consolidated financial statements', IFRS 11 'Joint arrangements' and IFRS 12 'Disclosure of interests in other entities'. The amendments clarify the transition guidance in IFRS 10, and provide additional transition relief (for example by limiting the requirement to provide adjusted comparative information to only the preceding comparative period or, for disclosures related to unconsolidated structured entities, removing the requirement to present comparative information for periods before IFRS 12 is first applied). These amendments will be effective for annual periods beginning on or after 1 January 2014 which is aligned with the effective date of IFRS 10, 11 and 12.
• Amendments to IAS 32 'Offsetting financial assets and financial liabilities', effective for annual periods beginning on or after 1 January 2014. The amendments clarify some of the requirements for offsetting financial assets and financial liabilities on the statement of financial position.

The following new standard, amendments to standards and interpretation have been issued, but are not mandatory for the first time for the financial year beginning 1 January 2013 and have not been endorsed by the European Union:

• Amendments to IAS 36 'Impairment of assets', effective for periods beginning on or after 1 January 2014. The IASB made consequential amendments to the disclosure requirements of IAS 36 when it issued IFRS 13. One of the amendments was drafted more widely than intended. This limited scope amendment corrects this and introduces additional disclosures about fair value measurements when there has been impairment or a reversal of impairment.
• Amendments to IAS 39 'Financial instruments: Recognition and measurement', effective for annual periods beginning on or after 1 January 2014. These amendments provide relief from discontinuing hedge accounting when novation of a derivative designated as a hedging instrument meets certain criteria. Similar relief will be included in IFRS 9 'Financial instruments'.
• IFRS 9 'Financial instruments', effective for periods beginning on or after 1 January 2015. The standard addresses the classification, measurement and derecognition of financial assets and financial liabilities.
• Amendments to IFRS 10 'Consolidated financial statements', IFRS 12 'Disclosure of interests in other entities' and IAS 27 'Separate financial statements' for investment entities. Effective for annual periods beginning on or after 1 January 2014. The amendments give an exemption to entities that meet an 'investment entity' definition and which display certain characteristics to account for its subsidiaries at fair value.
• IFRIC 21 'Levies', effective for periods beginning on or after 1 January 2014. IFRIC 21 sets out the accounting for a liability to pay a levy if that liability is within the scope of IAS 37. It also addresses the accounting for a liability to pay a levy whose timing and amount is certain.

The Group is currently assessing the impact of the new requirements.

This condensed consolidated interim financial information is prepared under the historical cost convention, as modified by the revaluation of available-for-sale financial assets, and financial assets and financial liabilities (including derivative instruments) at fair value through profit or loss.

This condensed consolidated interim financial information is prepared on an accrual basis and on the assumption that the Group is a going concern and will continue in operation for the foreseeable future.

The preparation of the condensed consolidated interim financial information in accordance with IAS 34 requires management to make estimates and assumptions that affect the reported amounts of

revenue, expenses, assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements. The areas involving a higher degree of judgement or complexity, or areas where assumptions and estimates are significant to the consolidated financial statements are disclosed in the accounting policies.

Note 2 – Changes in accounting policies and other changes, and their impact on equity

There are no changes in the accounting policies compared with the accounting policies used in the preparation of the consolidated financial statements as per December 31, 2012 except for the classification of currency result:

Based on the prior accounting policy, the sales and purchase transactions in foreign currency were accounted for at spot rate. During year-end closing, the revaluation of the balance sheet positions and of the hedging contracts at closing rate resulted in a currency gain or loss that was recorded in the financial result. As a consequence, the gain or loss of FX hedging transactions designed to protect the margin on sales was not included in the operating profit.

In order to improve the classification of the result on transaction in foreign currency, the Audit Committee approved in November 2012 to change the presentation of currency result. Depending on the nature of the currency result, it is now recorded in operating or financial result.

The table below gives on overview of the impact of this change in classification on the different lines of the comprehensive income statement: As per June 2013, 0.1 million euro currency gain is classified in the operating result. In the comparable figures of 2012, 0.3 million euro currency loss is classified in operating result.

(in thousand of	June 2013	June 2013	June 2012	June 2012
euro)	New rules	Old rules	New rules	Old rules
Operating	10.464	10.330	8.642	8.970
result
Net financial	-810	-676	-1.094	-1.422
charges
Profit before	9.654	9.654	7.548	7.548
taxes

The significant accounting policies applied in the condensed interim financial statements are presented on pages 67 – 74 of the annual consolidated financial statements for the year ended December 31, 2012.

Note 3 – Segment reporting

The total laundry industry can be split up into Consumer, Commercial and Heavy Duty laundry. The JENSEN-GROUP entities serve end-customers in the Heavy Duty laundry segment. They follow the same process. The JENSEN-GROUP sells its products and services under the JENSENTM brand through own sales and service companies and independent distributors worldwide. In this way the JENSEN-GROUP operates only in one single segment.

The following table presents revenue and non-current asset information based on the Group's geographical areas:

(in thousand of euro)	Europe + CIS			America		Middle East, Far East and Australia		TOTAL OPERATIONS
	June 13	June 12	June 13	June 12	June 13	June 12	June 13	June 12
Revenue from external customers	78.416	83.761	23.321	16.834	21.796	14.951	123.533	115.546
Other segment information
Non-current assets	18.498	18.820	2.888	3.369	2.928	3.375	24.314	25.564

Note 4 - Cash flow statement

Cash, cash equivalent and bank overdrafts include the following for the purpose of the cash flow statement:

(in thousands of euro)	June 30 2013	June 30 2012
cash	5.694	5.208
bank overdrafts	-5.032	-7.201
Cash, cash equivalent and bank overdrafts at the end of the period	662	-1.993

The net cash flow from operating activities increased with 8.1 million euro because of higher profitability.

Last year, the net cash flow from discontinued operations and the net cash flow from investment activities included the re-classification of the building in Switzerland that was held for sale.

Note 5 – Commitments and contingencies

There are no major changes compared to December 31, 2012.

Note 6 – Scope of consolidation

There are no changes in the scope of consolidation as at the end of June 2013.

Note 7 – Related party transactions

The shareholders of the Group as per June 30, 2013 are:

JENSEN Invest:	51.48%
Petercam:	8.66%
Free float:	39.85%

There are no significant changes in compensation of key management.

Note 8 - Events after balance sheet date

The JENSEN-GROUP decided to expand its presence in Japan and incorporated JENSEN Japan Co on July 3, 2013.

On August 16, 2013 JENSEN-GROUP took over its Austrian distributor ÖWM. This transaction will not have a material impact on the financial statements of JENSEN-GROUP as most of the activities are already reflected in the consolidated Group results as distributors' sales.

To the Board of Directors Jensen-Group NV

Statutory auditor's report on review of condensed consolidated financial information for the period ended 30 June 2013

Introduction

We have reviewed the accompanying consolidated condensed statement of financial position of Jensen-Group NV and its subsidiaries as of 30 June 2013 and the related consolidated condensed statements of comprehensive income, changes in equity and cash flows for the six-month period then ended, as well as the explanatory notes. The board of directors is responsible for the preparation and presentation of this consolidated condensed financial information in accordance with IAS 34, as adopted by the European Union. Our responsibility is to express a conclusion on this consolidated condensed financial information based on our review.

Scope of Review

We conducted our review in accordance with International Standard on Review Engagements 2410, "Review of Interim Financial Information Performed by the Independent Auditor of the Entity." A review of interim financial information consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with International Standards on Auditing and, consequently, does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion.

Conclusion

Based on our review, nothing has come to our attention that causes us to believe that the accompanying consolidated condensed financial information is not prepared, in all material respects, in accordance with IAS 34, as adopted by the European Union.

Antwerp, 20 August 2013

PwC Bedrijfsrevisoren bcvba Represented by

Filip Lozie* Bedrijfsrevisor

*Filip Lozie BVBA Board Member, represented by its fixed representative, Filip Lozie Regulated information

JENSEN-GROUP Half Year Results 2013

Consolidated, non-audited key figures

Income Statement 30/06/2013- 30/06/2012
Non-audited, consolidated key figures
(million euro)	June 30, 2013	June 30, 2012	Change
	6M	6M
Revenue	123,5	115,5	6,91%
EBIT3	10,5	8,6	21,08%
Cash flow (EBITDA) 1	13,8	9,4	47,39%
Financial result3	-0,8	-1,1	-25,96%
Profit before taxes	9,7	7,5	27,90%
Taxes	-2,7	-2,6	0,72%
Net income continuing operations	7,0	4,9	42,53%
Result from discontinued operations	0,0	0,0
Net income (Group share in the profit)	7,0	4,9	42,83%
Net cash flow 2	10,4	5,7	83,42%
Balance sheet as of 30/06/2013- 31/12/2012
	Non-audited, consolidated key figures
(Mln euro)	June 30, 2013 Dec 31, 2012		Change
	6M	12M
Equity	59,8	54,6	9,54%
Net financial debt	11,9	10,9	9,66%
Assets held for sale	0,4	0,4	0,79%
Total assets	146,5	148,2	-1,15%
Non-audited, consolidated key figures per share
(euro)	June 30, 2013 6M	June 30, 2012 6M	Change
Cash flow from operations (EBITDA) 1	1,73	1,17	47,86%
Profit before taxes	1,21	0,94	28,72%
Profit after taxes continuing operations (EPS)	0,87	0,61	42,62%
Net cash flow 2	1,29	0,71	81,69%
Equity (June 30, 2013 - December 31, 2012)	7,47	6,82	9,53%

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.

3 Reclassification of 0.1 million currency gain to EBIT in 2013 and 0.3 million currency loss in 2012.

Number of shares (end of period) 8.002.968 8.002.968 Number of shares (average) 8.002.968 8.002.968

Interim Financial Information June 30, 2013

Financial review

• Revenue of the first half-year of 2013 amounts to 123.5 million euro, a 6.91% increase compared to last year.
• Operating profit (EBIT) for the first six months amounts to 10.5 million euro, which is 21.08 % higher than last year.
• Cash flow (EBITDA) for the first half year amounts to 13.8 million euro, a 47.39% increase compared to last year.
• Net profit amounts to 7.0 million euro (Earnings per Share of 0.87 euro), an increase of 42.53 % compared to last year.
• Net financial debt amounts to 11.9 million euro and increased by 1.0 million euro compared to December 2012.
• JENSEN-GROUP continues to expand its worldwide distribution network: On June 11, 2013 JENSEN Brasil was created. On July 3, 2013 JENSEN Japan Co. has been incorporated. On August 16, 2013 JENSEN-GROUP took over its Austrian distributor ÖWM. This transaction will not have a material impact on the financial statements of JENSEN-GROUP as most of the activities are already reflected in the consolidated Group results as distributors' sales.

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 2012. The increase in turnover is primarily due to higher activity in the USA, in Canada as well as in the Far East.
• o At June 30, 2013 the order backlog decreased by 34% compared to the backlog at June 30, 2012. Therefore JENSEN-GROUP expects a lower second half and has aligned its production capacity.
• EBIT
• o Consolidated EBIT increased from 8.6 million euro to 10.5 million euro (+21.08%) due to the higher activity level and productivity gains.

Report of the Board of Directors

Important developments of the first 6 months

Revenue is higher than the first half year of 2012 (123.5 million euro compared to 115.5 million euro prior year) due to a high order backlog at the beginning of the year. JENSEN-GROUP enjoyed a high activity level in the USA, in Canada as well as in the Far East.

The higher activity level and productivity gains contributed to the increase in operating profit by 21.08% over the last year.

The financial result was 0.3 million euro better than prior year: JENSEN-GROUP recorded a currency gain compared to a currency loss in 2012.

JENSEN-GROUP changed the valuation rules regarding the allocation of the currency gains and losses: In order to have a better matching of the result on transactions in foreign currency, the Audit Committee approved in November 2012 to change the recording of currency gains and losses. Depending on the nature of the currency effect, it is presented in operating or financial result. As per June 2013, 0.1 million euro currency gain is classified in the operating result. In the comparable figures of 2012, 0.3 million euro currency loss is classified in operating result. There is no impact on the net income as it is only a reclassification.

All the factors described above resulted in a 2.1 million euro increase in the Groups net income from continuing operations (from 4.9 million euro to 7.0 million euro).

Outlook for the remaining 6 months

At June 30, 2013 the order backlog decreased by 34% compared to the backlog at June 30, 2012. Therefore JENSEN-GROUP expects a lower second half and has aligned its production capacity.

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.

Important transactions with related parties

There were no important transactions with related parties.

Events after balance sheet date

The JENSEN-GROUP decided to expand its presence in Japan and incorporated JENSEN Japan Co on July 3, 2013.

On August 16, 2013 JENSEN-GROUP took over its Austrian distributor ÖWM. This transaction will not have a material impact on the financial statements of JENSEN-GROUP as most of the activities are already reflected in the consolidated Group results as distributors' sales.

Ghent, August 20, 2013

Raf Decaluwé Jesper M. Jensen Chairman of the Board of Directors Chief Executive Officer

Statement of the Responsible Persons

We hereby certify that, to the best of our knowledge, the condensed consolidated financial statements for the six-months period ended June 30, 2013 which has been prepared in accordance with the IAS 34 "Interim Financial Reporting" as adopted by the European Union, gives a true and fair view of the assets, liabilities, financial position and profit or loss of the company and the entities included in the consolidation as a whole, and that the interim management report includes a fair review of the important events that have occurred during the first six months of the financial year and of the major transactions with the related parties, and their impact on the condensed consolidated financial statements, together with a description of the principal risks and uncertainties for the remaining six months of the financial year.

Ghent, August 20, 2013

Jesper M. Jensen Markus Schalch Chief Executive Officer Chief Financial Officer

CONDENSED CONSOLIDATED STATEMENT OF FINANCIAL POSITION

		June 30 2013	December 31 2012
(in thousands of euro)	Notes
Total Non-Current Assets		30.431	29.860
Intangible assets		4.795	4.865
Property, plant and equipment		18.681	18.818
Trade and other long term receivables		838	865
Deferred taxes		6.117	5.312
' Total Current Assets		116.079	118.361
Inventories		29.089	28.409
A. Trade debtors B. Other amounts receivable		52.544 3.626	47.015 3.381
C. Gross amounts due from customers for contrac t work D. Derivative Financial Instruments Trade and other receivables		24.584 160 80.914	29.059 232 79.687
Cash and cash equivalents	4	5.694	9.886
Assets held for sale		382	379
TOTAL ASSETS		146.510	148.221

(in thousands of euro)	Notes	June 30 2013	December 31 2012
Equity attributable to equity holders		59.791	54.585
Share Capital		36.523	36.523
Other reserves		-4.523	-4.770
Retained earnings		27.791	22.832
Non Current Liabilities		20.360	20.800
Borrowings		6.894	7.219
Finance lease obligations			71
Deferred income tax liabilities		180	274
Provisions for employee benefit obligations		12.735	12.608
Derrivative financial instruments		551	628
Current Liabilities		66.359	72.836
Borrowings		10.584	13.328
Finance lease obligations		145	146
Provisions for other liabilities and charges		12.565	10.884
A. Trade debts B. Advances received for contrac t work C. Remuneration and social security D. Other amounts payable E. Accrued expenses Derivative financial instruments		15.655 5.435 9.911 1.247 6.034 443	19.538 9.495 8.965 1.601 5.658 635
Trade and other payables		38.725	45.892
Current income tax liabilities TOTAL EQUITY AND LIABILITIES		4.340 146.510	2.586 148.221

CONDENSED CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME

(in thousands of euro)	Notes	June 30, 2013	June 30, 2012
Revenue	3	123.533	115.546
Total expenses		-113.087	-107.236
Other Income / ( Expense)		18	332
Operating profit before tax and finance (cost)/ income		10.464	8.642
Net financial charges		-810	-1.094
Profit before tax		9.654	7.548
Income tax expense		-2.660	-2.641
Profit for the half-year from continuing operations		6.994	4.907
Result from discontinued operations		-34	-34
Consolidated profit for the half-year		6.960	4.873
Other comprehensive income: Gains/(losses) recognized directly in equity
Financial instruments		809	-240
Currency translation differences		-373	742
Actual gains/(losses) on Defined Benefit Plans		77	-27
Tax on items taken directly on or transferred from equity		-266	80
TOTAL OTHER COMPREHENSIVE INCOME/(LOSS) FOR THE HALF-YEAR		247	555
TOTAL COMPREHENSIVE INCOME FOR THE HALF-YEAR		7.207	5.428
Profit attributable to:
Equity holders of the company		6.960	4.873
Total comprehensive income attributable to: Equity holders of the company		7.207	5.428
Basic and diluted earnings per share (in euro's) Weighted average number of shares		0,87 8.002.968	0,61 8.002.968

CONDENSED CONSOLIDATED STATEMENT OF CHANGES IN EQUITY

June 30, 2012	42.715	5.813	48.528	1.735	-1.273	-2.833	-2.371	17.309	63.466
Dividend paid out	0	0	0	0			0	-2.001	-2.001
Total other comprehensive income/(loss) for the half-year, net of tax	0	0	0	742	-168	-19	555	0	555
Tax on items taken directly to or transferred from equity	0	0	0	0	72	8	80		80
Defined Benefit Plans	0	0	0	0	0	-27	-27	0	-27
Financial instruments	0	0	0	0	-240	0	-240	0	-240
Currency Translation Difference	0	0	0	742	0	0	742	0	742
Other comprehensive income
Result of the period	0	0	0	0	0	0	0	4.873	4.873
December 31, 2011	42.715	5.813	48.528	993	-1.105	-2.814	-2.926	14.437	60.039
In thousands of euro	Capital	Share premium	Total Share Capital	Translation differences	Hedging Reserves	Ac tuarial gains and losses on Defined Benefit Plans	Total other Reserves	Retained earnings	Total Equity

In thousands of euro	Capital	Share premium	Total Share Capital	Translation differences	Hedging Reserves	Actuarial gains and losses on Defined Benefit Plans	Total other Reserves	Retained earnings	Total Equity
December 31, 2012	30.710	5.813	36.523	1.009	-977	-4.802	-4.770	22.832	54.585
Result of the period	0	0	0	0	0	0	0	6.960	6.960
Other comprehensive income
Currency Translation Difference	0	0	0	-373	0	0	-373	0	-373
Financial instruments	0	0	0	0	809	0	809	0	809
Defined Benefit Plans	0	0	0	0	0	77	77	0	77
Tax on items taken directly to or transferred from equity	0	0	0	0	-243	-23	-266	0	-266
Total other comprehensive income/(loss) for the half-year, net of tax	0	0	0	-373	566	54	247	0	247
Dividend paid out	0	0	0	0	0	0	0	-2.001	-2.001
June 30, 2013	30.710	5.813	36.523	636	-411	-4.748	-4.523	27.791	59.791

The notes on pages 13 to 19 are an integral part of this condensed consolidated interim financial

information.

CONDENSED CONSOLIDATED CASH FLOW STATEMENT

(in thousands of euro)	Notes	June 30	June 30
		2013	2012
Cash flows from operating activities		12.988	10.088
Changes in working capital		-8.643	-11.111
Corporate income tax paid		-906	-3.659
Net cash flow from operating activities - continuing operations		3.439	-4.682
Net cash flow from operating activities - discontinued operations		-37	-5.443
Net cash flow from operating activities - total		3.402	-10.125
Net cash flow from investment activities		-1.269	4.152
Cash flow before financing		2.133	-5.973
Net cash flow from financial activities		-122	3.572
Net Change in cash and cash equivalents		2.011	-2.401
Cash, cash equivalent and bank overdrafts at the beginning of the year Exchange gains/(losses) on cash and bank overdrafts		-976 -373	-334 742
Cash, cash equivalent and bank overdrafts at the end of the period	4	662	-1.993

Notes to the condensed consolidated financial statements

Note 1 - Basis of Preparation

The JENSEN-GROUP (hereafter "The Group") is one of the major suppliers to the heavy-duty laundry industry. The Group markets its products and services under the JENSEN brand and is a leading supplier to the heavy-duty market. The product range varies from transportation and handling systems, tunnel washers, separators, feeders, ironers, folders to complete project management for fully-equipped and professionally managed industrial laundries. The JENSEN-GROUP has operations in 18 countries and distributes its products in more than 40 countries. Worldwide, the JENSEN-GROUP employs approximately 1.170 people.

JENSEN-GROUP N.V. (hereafter "The Company") is incorporated in Belgium. Its registered office is at Bijenstraat 6, 9051 Sint-Denijs-Westrem, Belgium.

The JENSEN-GROUP shares are quoted on the Euronext Stock Exchange.

This condensed consolidated interim financial information is for the first half-year ended June 30, 2013. These interim financial statements are prepared in accordance with IAS 34 "Interim Financial Reporting", as adopted by the EU. The accounting policies used in the preparation of the interim financial statements are consistent with those used in the annual financial statements for the year ended December 31, 2012 except for the classification of currency result as set out in note 2.

This condensed consolidated interim financial information should be read in conjunction with the 2012 annual IFRS consolidated financial statements.

This condensed consolidated interim financial information has been reviewed by an independent auditor, not audited.

The policies have been consistently applied to all the periods presented.

Taxation is determined annually and, accordingly, the tax charge for the interim period involves making an estimate of the likely effective tax rate for the year. The calculation of the effective tax rate is based on an estimate of the tax charge or credit for the year expressed as a percentage of the expected accounting profit or loss. This percentage is then applied to the interim result, and the tax is recognized rateably over the year as a whole.

This condensed consolidated interim financial information has been prepared in accordance with those IFRS standards and IFRIC interpretations issued and effective or issued and early adopted as at 30 June 2013 which have been adopted by the European Union, as follows:

The new standards, amendments to standards and interpretations listed below reflect the endorsement status at 30 June 2013.

The following new standards, amendments to standards and interpretations are mandatory for the first time for the financial year beginning 1 January 2013:

• Amendments to IFRS 1 'First-time adoption of IFRSs' related to severe hyperinflation and the removal of fixed dates for first-time adopters. These amendments are effective on or after 1 January 2013.
• Amendments to IAS 12 'Deferred taxes', effective on or after 1 January 2013. The amendments provide a practical approach for measuring deferred tax liabilities and deferred tax assets when investment property is measured using the fair value model.
• Amendments to IAS 1 'Presentation of financial statements', effective for annual periods beginning on or after 1 July 2012. The amendment changes the disclosure of items presented in other comprehensive income (OCI) in the statement of comprehensive income.
• IAS 19 Revised 'Employee benefits', effective for annual periods beginning on or after 1 January 2013. Through these amendments significant changes are made to the recognition and measurement of defined benefit pension expense and termination benefits, and to the disclosures for all employee benefits.
• Amendments to IFRS 1 'First-time adoption of IFRSs' related to government loans, dealing with loans received from governments at a below market rate of interest, give first-time adopters of IFRSs relief from full retrospective application of IFRSs when accounting for these loans on transition. These amendments are effective for annual periods beginning on or after 1 January 2013.
• Amendments to IFRS 7 'Disclosures Offsetting financial assets and financial liabilities', effective for annual periods beginning on or after 1 January 2013. The amendment reflects the joint requirements with the FASB to enhance current offsetting disclosures. The new disclosures are intended to facilitate comparison between those entities that prepare IFRS financial statements to those that prepare financial statements in accordance with US GAAP.
• IFRS 13 'Fair value measurement', effective for annual periods beginning on or after 1 January 2013. The new standard explains how to measure fair value for financial reporting.
• IFRIC 20 'Stripping costs in the production phase of a surface mine', effective for annual periods beginning on or after 1 January 2013. IFRIC 20 sets out the accounting for overburden waste removal (stripping) costs in the production phase of a mine. The interpretation may require mining entities to write off existing stripping assets to opening retained earnings if the assets cannot be attributed to an identifiable component of an ore body.
• IASB publishes 'Annual improvements' with minor amendments to five standards for 2013 year ends including IFRS 1, 'First time adoption of IFRS', IAS 1, 'Presentation of financial

statements', IAS 16, 'Property, plant and equipment', IAS 32, 'Financial instruments: Presentation' and IAS 34, 'Interim financial reporting'.

The following new standards and amendments to standards have been issued and have been endorsed by the European Union, but are not mandatory for the first time for the financial year beginning 1 January 2013:

• IAS 27 Revised 'Separate financial statements', effective for annual periods beginning on or after 1 January 2014. The revised standard includes the provisions on separate financial statements that are left after the control provisions of IAS 27 have been included in the new IFRS 10.
• IAS 28 Revised 'Investments in associates and joint ventures', effective for annual periods beginning on or after 1 January 2014. The revised standard now includes the requirements for joint ventures, as well as associates, to be equity accounted following the issue of IFRS 11.
• IFRS 10 'Consolidated financial statements', effective for annual periods beginning on or after 1 January 2014. The new standard builds on existing principles by identifying the concept of control as the determining factor in whether an entity should be included within the consolidated financial statements.
• IFRS 11 'Joint arrangements', effective for annual periods beginning on or after 1 January 2014. The new standard focuses on the rights and obligations rather than the legal form. Proportional consolidation is no longer allowed.
• IFRS 12 'Disclosure of interests in other entities', effective for annual periods beginning on or after 1 January 2014. This is a new standard on disclosure requirements for all forms of interests in other entities.
• Amendments to IFRS 10 'Consolidated financial statements', IFRS 11 'Joint arrangements' and IFRS 12 'Disclosure of interests in other entities'. The amendments clarify the transition guidance in IFRS 10, and provide additional transition relief (for example by limiting the requirement to provide adjusted comparative information to only the preceding comparative period or, for disclosures related to unconsolidated structured entities, removing the requirement to present comparative information for periods before IFRS 12 is first applied). These amendments will be effective for annual periods beginning on or after 1 January 2014 which is aligned with the effective date of IFRS 10, 11 and 12.
• Amendments to IAS 32 'Offsetting financial assets and financial liabilities', effective for annual periods beginning on or after 1 January 2014. The amendments clarify some of the requirements for offsetting financial assets and financial liabilities on the statement of financial position.

The following new standard, amendments to standards and interpretation have been issued, but are not mandatory for the first time for the financial year beginning 1 January 2013 and have not been endorsed by the European Union:

• Amendments to IAS 36 'Impairment of assets', effective for periods beginning on or after 1 January 2014. The IASB made consequential amendments to the disclosure requirements of IAS 36 when it issued IFRS 13. One of the amendments was drafted more widely than intended. This limited scope amendment corrects this and introduces additional disclosures about fair value measurements when there has been impairment or a reversal of impairment.
• Amendments to IAS 39 'Financial instruments: Recognition and measurement', effective for annual periods beginning on or after 1 January 2014. These amendments provide relief from discontinuing hedge accounting when novation of a derivative designated as a hedging instrument meets certain criteria. Similar relief will be included in IFRS 9 'Financial instruments'.
• IFRS 9 'Financial instruments', effective for periods beginning on or after 1 January 2015. The standard addresses the classification, measurement and derecognition of financial assets and financial liabilities.
• Amendments to IFRS 10 'Consolidated financial statements', IFRS 12 'Disclosure of interests in other entities' and IAS 27 'Separate financial statements' for investment entities. Effective for annual periods beginning on or after 1 January 2014. The amendments give an exemption to entities that meet an 'investment entity' definition and which display certain characteristics to account for its subsidiaries at fair value.
• IFRIC 21 'Levies', effective for periods beginning on or after 1 January 2014. IFRIC 21 sets out the accounting for a liability to pay a levy if that liability is within the scope of IAS 37. It also addresses the accounting for a liability to pay a levy whose timing and amount is certain.

The Group is currently assessing the impact of the new requirements.

This condensed consolidated interim financial information is prepared under the historical cost convention, as modified by the revaluation of available-for-sale financial assets, and financial assets and financial liabilities (including derivative instruments) at fair value through profit or loss.

This condensed consolidated interim financial information is prepared on an accrual basis and on the assumption that the Group is a going concern and will continue in operation for the foreseeable future.

The preparation of the condensed consolidated interim financial information in accordance with IAS 34 requires management to make estimates and assumptions that affect the reported amounts of

revenue, expenses, assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements. The areas involving a higher degree of judgement or complexity, or areas where assumptions and estimates are significant to the consolidated financial statements are disclosed in the accounting policies.

Note 2 – Changes in accounting policies and other changes, and their impact on equity

There are no changes in the accounting policies compared with the accounting policies used in the preparation of the consolidated financial statements as per December 31, 2012 except for the classification of currency result:

Based on the prior accounting policy, the sales and purchase transactions in foreign currency were accounted for at spot rate. During year-end closing, the revaluation of the balance sheet positions and of the hedging contracts at closing rate resulted in a currency gain or loss that was recorded in the financial result. As a consequence, the gain or loss of FX hedging transactions designed to protect the margin on sales was not included in the operating profit.

In order to improve the classification of the result on transaction in foreign currency, the Audit Committee approved in November 2012 to change the presentation of currency result. Depending on the nature of the currency result, it is now recorded in operating or financial result.

The table below gives on overview of the impact of this change in classification on the different lines of the comprehensive income statement: As per June 2013, 0.1 million euro currency gain is classified in the operating result. In the comparable figures of 2012, 0.3 million euro currency loss is classified in operating result.

(in thousand of	June 2013	June 2013	June 2012	June 2012
euro)	New rules	Old rules	New rules	Old rules
Operating	10.464	10.330	8.642	8.970
result
Net financial	-810	-676	-1.094	-1.422
charges
Profit before	9.654	9.654	7.548	7.548
taxes

The significant accounting policies applied in the condensed interim financial statements are presented on pages 67 – 74 of the annual consolidated financial statements for the year ended December 31, 2012.

Note 3 – Segment reporting

The total laundry industry can be split up into Consumer, Commercial and Heavy Duty laundry. The JENSEN-GROUP entities serve end-customers in the Heavy Duty laundry segment. They follow the same process. The JENSEN-GROUP sells its products and services under the JENSENTM brand through own sales and service companies and independent distributors worldwide. In this way the JENSEN-GROUP operates only in one single segment.

The following table presents revenue and non-current asset information based on the Group's geographical areas:

(in thousand of euro)	Europe + CIS			America		Middle East, Far East and Australia		TOTAL OPERATIONS
	June 13	June 12	June 13	June 12	June 13	June 12	June 13	June 12
Revenue from external customers	78.416	83.761	23.321	16.834	21.796	14.951	123.533	115.546
Other segment information
Non-current assets	18.498	18.820	2.888	3.369	2.928	3.375	24.314	25.564

Note 4 - Cash flow statement

Cash, cash equivalent and bank overdrafts include the following for the purpose of the cash flow statement:

(in thousands of euro)	June 30 2013	June 30 2012
cash	5.694	5.208
bank overdrafts	-5.032	-7.201
Cash, cash equivalent and bank overdrafts at the end of the period	662	-1.993

The net cash flow from operating activities increased with 8.1 million euro because of higher profitability.

Last year, the net cash flow from discontinued operations and the net cash flow from investment activities included the re-classification of the building in Switzerland that was held for sale.

Note 5 – Commitments and contingencies

There are no major changes compared to December 31, 2012.

Note 6 – Scope of consolidation

There are no changes in the scope of consolidation as at the end of June 2013.

Note 7 – Related party transactions

The shareholders of the Group as per June 30, 2013 are:

JENSEN Invest:	51.48%
Petercam:	8.66%
Free float:	39.85%

There are no significant changes in compensation of key management.

Note 8 - Events after balance sheet date

The JENSEN-GROUP decided to expand its presence in Japan and incorporated JENSEN Japan Co on July 3, 2013.

On August 16, 2013 JENSEN-GROUP took over its Austrian distributor ÖWM. This transaction will not have a material impact on the financial statements of JENSEN-GROUP as most of the activities are already reflected in the consolidated Group results as distributors' sales.

To the Board of Directors Jensen-Group NV

Statutory auditor's report on review of condensed consolidated financial information for the period ended 30 June 2013

Introduction

We have reviewed the accompanying consolidated condensed statement of financial position of Jensen-Group NV and its subsidiaries as of 30 June 2013 and the related consolidated condensed statements of comprehensive income, changes in equity and cash flows for the six-month period then ended, as well as the explanatory notes. The board of directors is responsible for the preparation and presentation of this consolidated condensed financial information in accordance with IAS 34, as adopted by the European Union. Our responsibility is to express a conclusion on this consolidated condensed financial information based on our review.

Scope of Review

We conducted our review in accordance with International Standard on Review Engagements 2410, "Review of Interim Financial Information Performed by the Independent Auditor of the Entity." A review of interim financial information consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with International Standards on Auditing and, consequently, does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion.

Conclusion

Based on our review, nothing has come to our attention that causes us to believe that the accompanying consolidated condensed financial information is not prepared, in all material respects, in accordance with IAS 34, as adopted by the European Union.

Antwerp, 20 August 2013

PwC Bedrijfsrevisoren bcvba Represented by

Filip Lozie* Bedrijfsrevisor

*Filip Lozie BVBA Board Member, represented by its fixed representative, Filip Lozie Regulated information

JENSEN-GROUP Half Year Results 2013

Consolidated, non-audited key figures

Income Statement 30/06/2013- 30/06/2012
	Non-audited, consolidated key figures
(million euro)	June 30, 2013	June 30, 2012	Change
	6M	6M
Revenue	123,5	115,5	6,91%
EBIT3	10,5	8,6	21,08%
Cash flow (EBITDA) 1	13,8	9,4	47,39%
Financial result3	-0,8	-1,1	-25,96%
Profit before taxes	9,7	7,5	27,90%
Taxes	-2,7	-2,6	0,72%
Net income continuing operations	7,0	4,9	42,53%
Result from discontinued operations	0,0	0,0
Net income (Group share in the profit)	7,0	4,9	42,83%
Net cash flow 2	10,4	5,7	83,42%
Balance sheet as of 30/06/2013- 31/12/2012
	Non-audited, consolidated key figures
(Mln euro)	June 30, 2013 Dec 31, 2012	Change
	6M	12M
Equity	59,8	54,6	9,54%
Net financial debt	11,9	10,9	9,66%
Assets held for sale	0,4	0,4	0,79%
Total assets	146,5	148,2	-1,15%
Non-audited, consolidated key figures per share
(euro)	June 30, 2013 6M	June 30, 2012 6M	Change
Cash flow from operations (EBITDA) 1	1,73	1,17	47,86%
Profit before taxes	1,21	0,94	28,72%
Profit after taxes continuing operations (EPS)	0,87	0,61	42,62%
Net cash flow 2	1,29	0,71	81,69%
Equity (June 30, 2013 - December 31, 2012)	7,47	6,82	9,53%

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.

3 Reclassification of 0.1 million currency gain to EBIT in 2013 and 0.3 million currency loss in 2012.

Number of shares (end of period) 8.002.968 8.002.968 Number of shares (average) 8.002.968 8.002.968

Interim Financial Information June 30, 2013

Financial review

• Revenue of the first half-year of 2013 amounts to 123.5 million euro, a 6.91% increase compared to last year.
• Operating profit (EBIT) for the first six months amounts to 10.5 million euro, which is 21.08 % higher than last year.
• Cash flow (EBITDA) for the first half year amounts to 13.8 million euro, a 47.39% increase compared to last year.
• Net profit amounts to 7.0 million euro (Earnings per Share of 0.87 euro), an increase of 42.53 % compared to last year.
• Net financial debt amounts to 11.9 million euro and increased by 1.0 million euro compared to December 2012.
• JENSEN-GROUP continues to expand its worldwide distribution network: On June 11, 2013 JENSEN Brasil was created. On July 3, 2013 JENSEN Japan Co. has been incorporated. On August 16, 2013 JENSEN-GROUP took over its Austrian distributor ÖWM. This transaction will not have a material impact on the financial statements of JENSEN-GROUP as most of the activities are already reflected in the consolidated Group results as distributors' sales.

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 2012. The increase in turnover is primarily due to higher activity in the USA, in Canada as well as in the Far East.
• o At June 30, 2013 the order backlog decreased by 34% compared to the backlog at June 30, 2012. Therefore JENSEN-GROUP expects a lower second half and has aligned its production capacity.
• EBIT
• o Consolidated EBIT increased from 8.6 million euro to 10.5 million euro (+21.08%) due to the higher activity level and productivity gains.

Report of the Board of Directors

Important developments of the first 6 months

Revenue is higher than the first half year of 2012 (123.5 million euro compared to 115.5 million euro prior year) due to a high order backlog at the beginning of the year. JENSEN-GROUP enjoyed a high activity level in the USA, in Canada as well as in the Far East.

The higher activity level and productivity gains contributed to the increase in operating profit by 21.08% over the last year.

The financial result was 0.3 million euro better than prior year: JENSEN-GROUP recorded a currency gain compared to a currency loss in 2012.

JENSEN-GROUP changed the valuation rules regarding the allocation of the currency gains and losses: In order to have a better matching of the result on transactions in foreign currency, the Audit Committee approved in November 2012 to change the recording of currency gains and losses. Depending on the nature of the currency effect, it is presented in operating or financial result. As per June 2013, 0.1 million euro currency gain is classified in the operating result. In the comparable figures of 2012, 0.3 million euro currency loss is classified in operating result. There is no impact on the net income as it is only a reclassification.

All the factors described above resulted in a 2.1 million euro increase in the Groups net income from continuing operations (from 4.9 million euro to 7.0 million euro).

Outlook for the remaining 6 months

At June 30, 2013 the order backlog decreased by 34% compared to the backlog at June 30, 2012. Therefore JENSEN-GROUP expects a lower second half and has aligned its production capacity.

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.

Important transactions with related parties

There were no important transactions with related parties.

Events after balance sheet date

The JENSEN-GROUP decided to expand its presence in Japan and incorporated JENSEN Japan Co on July 3, 2013.

On August 16, 2013 JENSEN-GROUP took over its Austrian distributor ÖWM. This transaction will not have a material impact on the financial statements of JENSEN-GROUP as most of the activities are already reflected in the consolidated Group results as distributors' sales.

Ghent, August 20, 2013

Raf Decaluwé Jesper M. Jensen Chairman of the Board of Directors Chief Executive Officer

Statement of the Responsible Persons

We hereby certify that, to the best of our knowledge, the condensed consolidated financial statements for the six-months period ended June 30, 2013 which has been prepared in accordance with the IAS 34 "Interim Financial Reporting" as adopted by the European Union, gives a true and fair view of the assets, liabilities, financial position and profit or loss of the company and the entities included in the consolidation as a whole, and that the interim management report includes a fair review of the important events that have occurred during the first six months of the financial year and of the major transactions with the related parties, and their impact on the condensed consolidated financial statements, together with a description of the principal risks and uncertainties for the remaining six months of the financial year.

Ghent, August 20, 2013

Jesper M. Jensen Markus Schalch Chief Executive Officer Chief Financial Officer

CONDENSED CONSOLIDATED STATEMENT OF FINANCIAL POSITION

		June 30 2013	December 31 2012
(in thousands of euro)	Notes
Total Non-Current Assets		30.431	29.860
Intangible assets		4.795	4.865
Property, plant and equipment		18.681	18.818
Trade and other long term receivables		838	865
Deferred taxes		6.117	5.312
' Total Current Assets		116.079	118.361
Inventories		29.089	28.409
A. Trade debtors B. Other amounts receivable		52.544 3.626	47.015 3.381
C. Gross amounts due from customers for contrac t work D. Derivative Financial Instruments Trade and other receivables		24.584 160 80.914	29.059 232 79.687
Cash and cash equivalents	4	5.694	9.886
Assets held for sale		382	379
TOTAL ASSETS		146.510	148.221

(in thousands of euro)	Notes	June 30 2013	December 31 2012
Equity attributable to equity holders		59.791	54.585
Share Capital		36.523	36.523
Other reserves		-4.523	-4.770
Retained earnings		27.791	22.832
Non Current Liabilities		20.360	20.800
Borrowings		6.894	7.219
Finance lease obligations			71
Deferred income tax liabilities		180	274
Provisions for employee benefit obligations		12.735	12.608
Derrivative financial instruments		551	628
Current Liabilities		66.359	72.836
Borrowings		10.584	13.328
Finance lease obligations		145	146
Provisions for other liabilities and charges		12.565	10.884
A. Trade debts B. Advances received for contrac t work C. Remuneration and social security D. Other amounts payable E. Accrued expenses Derivative financial instruments		15.655 5.435 9.911 1.247 6.034 443	19.538 9.495 8.965 1.601 5.658 635
Trade and other payables		38.725	45.892
Current income tax liabilities TOTAL EQUITY AND LIABILITIES		4.340 146.510	2.586 148.221

CONDENSED CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME

(in thousands of euro)	Notes	June 30, 2013	June 30, 2012
Revenue	3	123.533	115.546
Total expenses		-113.087	-107.236
Other Income / ( Expense)		18	332
Operating profit before tax and finance (cost)/ income		10.464	8.642
Net financial charges		-810	-1.094
Profit before tax		9.654	7.548
Income tax expense		-2.660	-2.641
Profit for the half-year from continuing operations		6.994	4.907
Result from discontinued operations		-34	-34
Consolidated profit for the half-year		6.960	4.873
Other comprehensive income: Gains/(losses) recognized directly in equity
Financial instruments		809	-240
Currency translation differences		-373	742
Actual gains/(losses) on Defined Benefit Plans		77	-27
Tax on items taken directly on or transferred from equity		-266	80
TOTAL OTHER COMPREHENSIVE INCOME/(LOSS) FOR THE HALF-YEAR		247	555
TOTAL COMPREHENSIVE INCOME FOR THE HALF-YEAR		7.207	5.428
Profit attributable to:
Equity holders of the company		6.960	4.873
Total comprehensive income attributable to: Equity holders of the company		7.207	5.428
Basic and diluted earnings per share (in euro's) Weighted average number of shares		0,87 8.002.968	0,61 8.002.968

CONDENSED CONSOLIDATED STATEMENT OF CHANGES IN EQUITY

June 30, 2012	42.715	5.813	48.528	1.735	-1.273	-2.833	-2.371	17.309	63.466
Dividend paid out	0	0	0	0			0	-2.001	-2.001
Total other comprehensive income/(loss) for the half-year, net of tax	0	0	0	742	-168	-19	555	0	555
Tax on items taken directly to or transferred from equity	0	0	0	0	72	8	80		80
Defined Benefit Plans	0	0	0	0	0	-27	-27	0	-27
Financial instruments	0	0	0	0	-240	0	-240	0	-240
Currency Translation Difference	0	0	0	742	0	0	742	0	742
Other comprehensive income
Result of the period	0	0	0	0	0	0	0	4.873	4.873
December 31, 2011	42.715	5.813	48.528	993	-1.105	-2.814	-2.926	14.437	60.039
In thousands of euro	Capital	Share premium	Total Share Capital	Translation differences	Hedging Reserves	Ac tuarial gains and losses on Defined Benefit Plans	Total other Reserves	Retained earnings	Total Equity

In thousands of euro	Capital	Share premium	Total Share Capital	Translation differences	Hedging Reserves	Actuarial gains and losses on Defined Benefit Plans	Total other Reserves	Retained earnings	Total Equity
December 31, 2012	30.710	5.813	36.523	1.009	-977	-4.802	-4.770	22.832	54.585
Result of the period	0	0	0	0	0	0	0	6.960	6.960
Other comprehensive income
Currency Translation Difference	0	0	0	-373	0	0	-373	0	-373
Financial instruments	0	0	0	0	809	0	809	0	809
Defined Benefit Plans	0	0	0	0	0	77	77	0	77
Tax on items taken directly to or transferred from equity	0	0	0	0	-243	-23	-266	0	-266
Total other comprehensive income/(loss) for the half-year, net of tax	0	0	0	-373	566	54	247	0	247
Dividend paid out	0	0	0	0	0	0	0	-2.001	-2.001
June 30, 2013	30.710	5.813	36.523	636	-411	-4.748	-4.523	27.791	59.791

The notes on pages 13 to 19 are an integral part of this condensed consolidated interim financial

information.

CONDENSED CONSOLIDATED CASH FLOW STATEMENT

(in thousands of euro)	Notes	June 30	June 30
		2013	2012
Cash flows from operating activities		12.988	10.088
Changes in working capital		-8.643	-11.111
Corporate income tax paid		-906	-3.659
Net cash flow from operating activities - continuing operations		3.439	-4.682
Net cash flow from operating activities - discontinued operations		-37	-5.443
Net cash flow from operating activities - total		3.402	-10.125
Net cash flow from investment activities		-1.269	4.152
Cash flow before financing		2.133	-5.973
Net cash flow from financial activities		-122	3.572
Net Change in cash and cash equivalents		2.011	-2.401
Cash, cash equivalent and bank overdrafts at the beginning of the year Exchange gains/(losses) on cash and bank overdrafts		-976 -373	-334 742
Cash, cash equivalent and bank overdrafts at the end of the period	4	662	-1.993

Notes to the condensed consolidated financial statements

Note 1 - Basis of Preparation

The JENSEN-GROUP (hereafter "The Group") is one of the major suppliers to the heavy-duty laundry industry. The Group markets its products and services under the JENSEN brand and is a leading supplier to the heavy-duty market. The product range varies from transportation and handling systems, tunnel washers, separators, feeders, ironers, folders to complete project management for fully-equipped and professionally managed industrial laundries. The JENSEN-GROUP has operations in 18 countries and distributes its products in more than 40 countries. Worldwide, the JENSEN-GROUP employs approximately 1.170 people.

JENSEN-GROUP N.V. (hereafter "The Company") is incorporated in Belgium. Its registered office is at Bijenstraat 6, 9051 Sint-Denijs-Westrem, Belgium.

The JENSEN-GROUP shares are quoted on the Euronext Stock Exchange.

This condensed consolidated interim financial information is for the first half-year ended June 30, 2013. These interim financial statements are prepared in accordance with IAS 34 "Interim Financial Reporting", as adopted by the EU. The accounting policies used in the preparation of the interim financial statements are consistent with those used in the annual financial statements for the year ended December 31, 2012 except for the classification of currency result as set out in note 2.

This condensed consolidated interim financial information should be read in conjunction with the 2012 annual IFRS consolidated financial statements.

This condensed consolidated interim financial information has been reviewed by an independent auditor, not audited.

The policies have been consistently applied to all the periods presented.

Taxation is determined annually and, accordingly, the tax charge for the interim period involves making an estimate of the likely effective tax rate for the year. The calculation of the effective tax rate is based on an estimate of the tax charge or credit for the year expressed as a percentage of the expected accounting profit or loss. This percentage is then applied to the interim result, and the tax is recognized rateably over the year as a whole.

This condensed consolidated interim financial information has been prepared in accordance with those IFRS standards and IFRIC interpretations issued and effective or issued and early adopted as at 30 June 2013 which have been adopted by the European Union, as follows:

The new standards, amendments to standards and interpretations listed below reflect the endorsement status at 30 June 2013.

The following new standards, amendments to standards and interpretations are mandatory for the first time for the financial year beginning 1 January 2013:

• Amendments to IFRS 1 'First-time adoption of IFRSs' related to severe hyperinflation and the removal of fixed dates for first-time adopters. These amendments are effective on or after 1 January 2013.
• Amendments to IAS 12 'Deferred taxes', effective on or after 1 January 2013. The amendments provide a practical approach for measuring deferred tax liabilities and deferred tax assets when investment property is measured using the fair value model.
• Amendments to IAS 1 'Presentation of financial statements', effective for annual periods beginning on or after 1 July 2012. The amendment changes the disclosure of items presented in other comprehensive income (OCI) in the statement of comprehensive income.
• IAS 19 Revised 'Employee benefits', effective for annual periods beginning on or after 1 January 2013. Through these amendments significant changes are made to the recognition and measurement of defined benefit pension expense and termination benefits, and to the disclosures for all employee benefits.
• Amendments to IFRS 1 'First-time adoption of IFRSs' related to government loans, dealing with loans received from governments at a below market rate of interest, give first-time adopters of IFRSs relief from full retrospective application of IFRSs when accounting for these loans on transition. These amendments are effective for annual periods beginning on or after 1 January 2013.
• Amendments to IFRS 7 'Disclosures Offsetting financial assets and financial liabilities', effective for annual periods beginning on or after 1 January 2013. The amendment reflects the joint requirements with the FASB to enhance current offsetting disclosures. The new disclosures are intended to facilitate comparison between those entities that prepare IFRS financial statements to those that prepare financial statements in accordance with US GAAP.
• IFRS 13 'Fair value measurement', effective for annual periods beginning on or after 1 January 2013. The new standard explains how to measure fair value for financial reporting.
• IFRIC 20 'Stripping costs in the production phase of a surface mine', effective for annual periods beginning on or after 1 January 2013. IFRIC 20 sets out the accounting for overburden waste removal (stripping) costs in the production phase of a mine. The interpretation may require mining entities to write off existing stripping assets to opening retained earnings if the assets cannot be attributed to an identifiable component of an ore body.
• IASB publishes 'Annual improvements' with minor amendments to five standards for 2013 year ends including IFRS 1, 'First time adoption of IFRS', IAS 1, 'Presentation of financial

statements', IAS 16, 'Property, plant and equipment', IAS 32, 'Financial instruments: Presentation' and IAS 34, 'Interim financial reporting'.

The following new standards and amendments to standards have been issued and have been endorsed by the European Union, but are not mandatory for the first time for the financial year beginning 1 January 2013:

• IAS 27 Revised 'Separate financial statements', effective for annual periods beginning on or after 1 January 2014. The revised standard includes the provisions on separate financial statements that are left after the control provisions of IAS 27 have been included in the new IFRS 10.
• IAS 28 Revised 'Investments in associates and joint ventures', effective for annual periods beginning on or after 1 January 2014. The revised standard now includes the requirements for joint ventures, as well as associates, to be equity accounted following the issue of IFRS 11.
• IFRS 10 'Consolidated financial statements', effective for annual periods beginning on or after 1 January 2014. The new standard builds on existing principles by identifying the concept of control as the determining factor in whether an entity should be included within the consolidated financial statements.
• IFRS 11 'Joint arrangements', effective for annual periods beginning on or after 1 January 2014. The new standard focuses on the rights and obligations rather than the legal form. Proportional consolidation is no longer allowed.
• IFRS 12 'Disclosure of interests in other entities', effective for annual periods beginning on or after 1 January 2014. This is a new standard on disclosure requirements for all forms of interests in other entities.
• Amendments to IFRS 10 'Consolidated financial statements', IFRS 11 'Joint arrangements' and IFRS 12 'Disclosure of interests in other entities'. The amendments clarify the transition guidance in IFRS 10, and provide additional transition relief (for example by limiting the requirement to provide adjusted comparative information to only the preceding comparative period or, for disclosures related to unconsolidated structured entities, removing the requirement to present comparative information for periods before IFRS 12 is first applied). These amendments will be effective for annual periods beginning on or after 1 January 2014 which is aligned with the effective date of IFRS 10, 11 and 12.
• Amendments to IAS 32 'Offsetting financial assets and financial liabilities', effective for annual periods beginning on or after 1 January 2014. The amendments clarify some of the requirements for offsetting financial assets and financial liabilities on the statement of financial position.

The following new standard, amendments to standards and interpretation have been issued, but are not mandatory for the first time for the financial year beginning 1 January 2013 and have not been endorsed by the European Union:

• Amendments to IAS 36 'Impairment of assets', effective for periods beginning on or after 1 January 2014. The IASB made consequential amendments to the disclosure requirements of IAS 36 when it issued IFRS 13. One of the amendments was drafted more widely than intended. This limited scope amendment corrects this and introduces additional disclosures about fair value measurements when there has been impairment or a reversal of impairment.
• Amendments to IAS 39 'Financial instruments: Recognition and measurement', effective for annual periods beginning on or after 1 January 2014. These amendments provide relief from discontinuing hedge accounting when novation of a derivative designated as a hedging instrument meets certain criteria. Similar relief will be included in IFRS 9 'Financial instruments'.
• IFRS 9 'Financial instruments', effective for periods beginning on or after 1 January 2015. The standard addresses the classification, measurement and derecognition of financial assets and financial liabilities.
• Amendments to IFRS 10 'Consolidated financial statements', IFRS 12 'Disclosure of interests in other entities' and IAS 27 'Separate financial statements' for investment entities. Effective for annual periods beginning on or after 1 January 2014. The amendments give an exemption to entities that meet an 'investment entity' definition and which display certain characteristics to account for its subsidiaries at fair value.
• IFRIC 21 'Levies', effective for periods beginning on or after 1 January 2014. IFRIC 21 sets out the accounting for a liability to pay a levy if that liability is within the scope of IAS 37. It also addresses the accounting for a liability to pay a levy whose timing and amount is certain.

The Group is currently assessing the impact of the new requirements.

This condensed consolidated interim financial information is prepared under the historical cost convention, as modified by the revaluation of available-for-sale financial assets, and financial assets and financial liabilities (including derivative instruments) at fair value through profit or loss.

This condensed consolidated interim financial information is prepared on an accrual basis and on the assumption that the Group is a going concern and will continue in operation for the foreseeable future.

The preparation of the condensed consolidated interim financial information in accordance with IAS 34 requires management to make estimates and assumptions that affect the reported amounts of

revenue, expenses, assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements. The areas involving a higher degree of judgement or complexity, or areas where assumptions and estimates are significant to the consolidated financial statements are disclosed in the accounting policies.

Note 2 – Changes in accounting policies and other changes, and their impact on equity

There are no changes in the accounting policies compared with the accounting policies used in the preparation of the consolidated financial statements as per December 31, 2012 except for the classification of currency result:

Based on the prior accounting policy, the sales and purchase transactions in foreign currency were accounted for at spot rate. During year-end closing, the revaluation of the balance sheet positions and of the hedging contracts at closing rate resulted in a currency gain or loss that was recorded in the financial result. As a consequence, the gain or loss of FX hedging transactions designed to protect the margin on sales was not included in the operating profit.

In order to improve the classification of the result on transaction in foreign currency, the Audit Committee approved in November 2012 to change the presentation of currency result. Depending on the nature of the currency result, it is now recorded in operating or financial result.

The table below gives on overview of the impact of this change in classification on the different lines of the comprehensive income statement: As per June 2013, 0.1 million euro currency gain is classified in the operating result. In the comparable figures of 2012, 0.3 million euro currency loss is classified in operating result.

(in thousand of	June 2013	June 2013	June 2012	June 2012
euro)	New rules	Old rules	New rules	Old rules
Operating	10.464	10.330	8.642	8.970
result
Net financial	-810	-676	-1.094	-1.422
charges
Profit before	9.654	9.654	7.548	7.548
taxes

The significant accounting policies applied in the condensed interim financial statements are presented on pages 67 – 74 of the annual consolidated financial statements for the year ended December 31, 2012.

Note 3 – Segment reporting

The total laundry industry can be split up into Consumer, Commercial and Heavy Duty laundry. The JENSEN-GROUP entities serve end-customers in the Heavy Duty laundry segment. They follow the same process. The JENSEN-GROUP sells its products and services under the JENSENTM brand through own sales and service companies and independent distributors worldwide. In this way the JENSEN-GROUP operates only in one single segment.

The following table presents revenue and non-current asset information based on the Group's geographical areas:

(in thousand of euro)	Europe + CIS			America		Middle East, Far East and Australia		TOTAL OPERATIONS
	June 13	June 12	June 13	June 12	June 13	June 12	June 13	June 12
Revenue from external customers	78.416	83.761	23.321	16.834	21.796	14.951	123.533	115.546
Other segment information
Non-current assets	18.498	18.820	2.888	3.369	2.928	3.375	24.314	25.564

Note 4 - Cash flow statement

Cash, cash equivalent and bank overdrafts include the following for the purpose of the cash flow statement:

(in thousands of euro)	June 30 2013	June 30 2012
cash	5.694	5.208
bank overdrafts	-5.032	-7.201
Cash, cash equivalent and bank overdrafts at the end of the period	662	-1.993

The net cash flow from operating activities increased with 8.1 million euro because of higher profitability.

Last year, the net cash flow from discontinued operations and the net cash flow from investment activities included the re-classification of the building in Switzerland that was held for sale.

Note 5 – Commitments and contingencies

There are no major changes compared to December 31, 2012.

Note 6 – Scope of consolidation

There are no changes in the scope of consolidation as at the end of June 2013.

Note 7 – Related party transactions

The shareholders of the Group as per June 30, 2013 are:

JENSEN Invest:	51.48%
Petercam:	8.66%
Free float:	39.85%

There are no significant changes in compensation of key management.

Note 8 - Events after balance sheet date

The JENSEN-GROUP decided to expand its presence in Japan and incorporated JENSEN Japan Co on July 3, 2013.

On August 16, 2013 JENSEN-GROUP took over its Austrian distributor ÖWM. This transaction will not have a material impact on the financial statements of JENSEN-GROUP as most of the activities are already reflected in the consolidated Group results as distributors' sales.

To the Board of Directors Jensen-Group NV

Statutory auditor's report on review of condensed consolidated financial information for the period ended 30 June 2013

Introduction

We have reviewed the accompanying consolidated condensed statement of financial position of Jensen-Group NV and its subsidiaries as of 30 June 2013 and the related consolidated condensed statements of comprehensive income, changes in equity and cash flows for the six-month period then ended, as well as the explanatory notes. The board of directors is responsible for the preparation and presentation of this consolidated condensed financial information in accordance with IAS 34, as adopted by the European Union. Our responsibility is to express a conclusion on this consolidated condensed financial information based on our review.

Scope of Review

We conducted our review in accordance with International Standard on Review Engagements 2410, "Review of Interim Financial Information Performed by the Independent Auditor of the Entity." A review of interim financial information consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with International Standards on Auditing and, consequently, does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion.

Conclusion

Based on our review, nothing has come to our attention that causes us to believe that the accompanying consolidated condensed financial information is not prepared, in all material respects, in accordance with IAS 34, as adopted by the European Union.

Antwerp, 20 August 2013

PwC Bedrijfsrevisoren bcvba Represented by

Filip Lozie* Bedrijfsrevisor

*Filip Lozie BVBA Board Member, represented by its fixed representative, Filip Lozie Regulated information

JENSEN-GROUP Half Year Results 2013

Consolidated, non-audited key figures

Income Statement 30/06/2013- 30/06/2012
	Non-audited, consolidated key figures
(million euro)	June 30, 2013	June 30, 2012	Change
	6M	6M
Revenue	123,5	115,5	6,91%
EBIT3	10,5	8,6	21,08%
Cash flow (EBITDA) 1	13,8	9,4	47,39%
Financial result3	-0,8	-1,1	-25,96%
Profit before taxes	9,7	7,5	27,90%
Taxes	-2,7	-2,6	0,72%
Net income continuing operations	7,0	4,9	42,53%
Result from discontinued operations	0,0	0,0
Net income (Group share in the profit)	7,0	4,9	42,83%
Net cash flow 2	10,4	5,7	83,42%
Balance sheet as of 30/06/2013- 31/12/2012
	Non-audited, consolidated key figures
(Mln euro)	June 30, 2013 Dec 31, 2012		Change
	6M	12M
Equity	59,8	54,6	9,54%
Net financial debt	11,9	10,9	9,66%
Assets held for sale	0,4	0,4	0,79%
Total assets	146,5	148,2	-1,15%
Non-audited, consolidated key figures per share
(euro)	June 30, 2013 6M	June 30, 2012 6M	Change
Cash flow from operations (EBITDA) 1	1,73	1,17	47,86%
Profit before taxes	1,21	0,94	28,72%
Profit after taxes continuing operations (EPS)	0,87	0,61	42,62%
Net cash flow 2	1,29	0,71	81,69%
Equity (June 30, 2013 - December 31, 2012)	7,47	6,82	9,53%

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.

3 Reclassification of 0.1 million currency gain to EBIT in 2013 and 0.3 million currency loss in 2012.

Number of shares (end of period) 8.002.968 8.002.968 Number of shares (average) 8.002.968 8.002.968

Interim Financial Information June 30, 2013

Financial review

• Revenue of the first half-year of 2013 amounts to 123.5 million euro, a 6.91% increase compared to last year.
• Operating profit (EBIT) for the first six months amounts to 10.5 million euro, which is 21.08 % higher than last year.
• Cash flow (EBITDA) for the first half year amounts to 13.8 million euro, a 47.39% increase compared to last year.
• Net profit amounts to 7.0 million euro (Earnings per Share of 0.87 euro), an increase of 42.53 % compared to last year.
• Net financial debt amounts to 11.9 million euro and increased by 1.0 million euro compared to December 2012.
• JENSEN-GROUP continues to expand its worldwide distribution network: On June 11, 2013 JENSEN Brasil was created. On July 3, 2013 JENSEN Japan Co. has been incorporated. On August 16, 2013 JENSEN-GROUP took over its Austrian distributor ÖWM. This transaction will not have a material impact on the financial statements of JENSEN-GROUP as most of the activities are already reflected in the consolidated Group results as distributors' sales.

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 2012. The increase in turnover is primarily due to higher activity in the USA, in Canada as well as in the Far East.
• o At June 30, 2013 the order backlog decreased by 34% compared to the backlog at June 30, 2012. Therefore JENSEN-GROUP expects a lower second half and has aligned its production capacity.
• EBIT
• o Consolidated EBIT increased from 8.6 million euro to 10.5 million euro (+21.08%) due to the higher activity level and productivity gains.

Report of the Board of Directors

Important developments of the first 6 months

Revenue is higher than the first half year of 2012 (123.5 million euro compared to 115.5 million euro prior year) due to a high order backlog at the beginning of the year. JENSEN-GROUP enjoyed a high activity level in the USA, in Canada as well as in the Far East.

The higher activity level and productivity gains contributed to the increase in operating profit by 21.08% over the last year.

The financial result was 0.3 million euro better than prior year: JENSEN-GROUP recorded a currency gain compared to a currency loss in 2012.

JENSEN-GROUP changed the valuation rules regarding the allocation of the currency gains and losses: In order to have a better matching of the result on transactions in foreign currency, the Audit Committee approved in November 2012 to change the recording of currency gains and losses. Depending on the nature of the currency effect, it is presented in operating or financial result. As per June 2013, 0.1 million euro currency gain is classified in the operating result. In the comparable figures of 2012, 0.3 million euro currency loss is classified in operating result. There is no impact on the net income as it is only a reclassification.

All the factors described above resulted in a 2.1 million euro increase in the Groups net income from continuing operations (from 4.9 million euro to 7.0 million euro).

Outlook for the remaining 6 months

At June 30, 2013 the order backlog decreased by 34% compared to the backlog at June 30, 2012. Therefore JENSEN-GROUP expects a lower second half and has aligned its production capacity.

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.

Important transactions with related parties

There were no important transactions with related parties.

Events after balance sheet date

The JENSEN-GROUP decided to expand its presence in Japan and incorporated JENSEN Japan Co on July 3, 2013.

On August 16, 2013 JENSEN-GROUP took over its Austrian distributor ÖWM. This transaction will not have a material impact on the financial statements of JENSEN-GROUP as most of the activities are already reflected in the consolidated Group results as distributors' sales.

Ghent, August 20, 2013

Raf Decaluwé Jesper M. Jensen Chairman of the Board of Directors Chief Executive Officer

Statement of the Responsible Persons

We hereby certify that, to the best of our knowledge, the condensed consolidated financial statements for the six-months period ended June 30, 2013 which has been prepared in accordance with the IAS 34 "Interim Financial Reporting" as adopted by the European Union, gives a true and fair view of the assets, liabilities, financial position and profit or loss of the company and the entities included in the consolidation as a whole, and that the interim management report includes a fair review of the important events that have occurred during the first six months of the financial year and of the major transactions with the related parties, and their impact on the condensed consolidated financial statements, together with a description of the principal risks and uncertainties for the remaining six months of the financial year.

Ghent, August 20, 2013

Jesper M. Jensen Markus Schalch Chief Executive Officer Chief Financial Officer

CONDENSED CONSOLIDATED STATEMENT OF FINANCIAL POSITION

		June 30 2013	December 31 2012
(in thousands of euro)	Notes
Total Non-Current Assets		30.431	29.860
Intangible assets		4.795	4.865
Property, plant and equipment		18.681	18.818
Trade and other long term receivables		838	865
Deferred taxes		6.117	5.312
' Total Current Assets		116.079	118.361
Inventories		29.089	28.409
A. Trade debtors B. Other amounts receivable		52.544 3.626	47.015 3.381
C. Gross amounts due from customers for contrac t work D. Derivative Financial Instruments Trade and other receivables		24.584 160 80.914	29.059 232 79.687
Cash and cash equivalents	4	5.694	9.886
Assets held for sale		382	379
TOTAL ASSETS		146.510	148.221

(in thousands of euro)	Notes	June 30 2013	December 31 2012
Equity attributable to equity holders		59.791	54.585
Share Capital		36.523	36.523
Other reserves		-4.523	-4.770
Retained earnings		27.791	22.832
Non Current Liabilities		20.360	20.800
Borrowings		6.894	7.219
Finance lease obligations			71
Deferred income tax liabilities		180	274
Provisions for employee benefit obligations		12.735	12.608
Derrivative financial instruments		551	628
Current Liabilities		66.359	72.836
Borrowings		10.584	13.328
Finance lease obligations		145	146
Provisions for other liabilities and charges		12.565	10.884
A. Trade debts B. Advances received for contrac t work C. Remuneration and social security D. Other amounts payable E. Accrued expenses Derivative financial instruments		15.655 5.435 9.911 1.247 6.034 443	19.538 9.495 8.965 1.601 5.658 635
Trade and other payables		38.725	45.892
Current income tax liabilities TOTAL EQUITY AND LIABILITIES		4.340 146.510	2.586 148.221

CONDENSED CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME

(in thousands of euro)	Notes	June 30, 2013	June 30, 2012
Revenue	3	123.533	115.546
Total expenses		-113.087	-107.236
Other Income / ( Expense)		18	332
Operating profit before tax and finance (cost)/ income		10.464	8.642
Net financial charges		-810	-1.094
Profit before tax		9.654	7.548
Income tax expense		-2.660	-2.641
Profit for the half-year from continuing operations		6.994	4.907
Result from discontinued operations		-34	-34
Consolidated profit for the half-year		6.960	4.873
Other comprehensive income: Gains/(losses) recognized directly in equity
Financial instruments		809	-240
Currency translation differences		-373	742
Actual gains/(losses) on Defined Benefit Plans		77	-27
Tax on items taken directly on or transferred from equity		-266	80
TOTAL OTHER COMPREHENSIVE INCOME/(LOSS) FOR THE HALF-YEAR		247	555
TOTAL COMPREHENSIVE INCOME FOR THE HALF-YEAR		7.207	5.428
Profit attributable to:
Equity holders of the company		6.960	4.873
Total comprehensive income attributable to: Equity holders of the company		7.207	5.428
Basic and diluted earnings per share (in euro's) Weighted average number of shares		0,87 8.002.968	0,61 8.002.968

CONDENSED CONSOLIDATED STATEMENT OF CHANGES IN EQUITY

June 30, 2012	42.715	5.813	48.528	1.735	-1.273	-2.833	-2.371	17.309	63.466
Dividend paid out	0	0	0	0			0	-2.001	-2.001
Total other comprehensive income/(loss) for the half-year, net of tax	0	0	0	742	-168	-19	555	0	555
Tax on items taken directly to or transferred from equity	0	0	0	0	72	8	80		80
Defined Benefit Plans	0	0	0	0	0	-27	-27	0	-27
Financial instruments	0	0	0	0	-240	0	-240	0	-240
Currency Translation Difference	0	0	0	742	0	0	742	0	742
Other comprehensive income
Result of the period	0	0	0	0	0	0	0	4.873	4.873
December 31, 2011	42.715	5.813	48.528	993	-1.105	-2.814	-2.926	14.437	60.039
In thousands of euro	Capital	Share premium	Total Share Capital	Translation differences	Hedging Reserves	Ac tuarial gains and losses on Defined Benefit Plans	Total other Reserves	Retained earnings	Total Equity

In thousands of euro	Capital	Share premium	Total Share Capital	Translation differences	Hedging Reserves	Actuarial gains and losses on Defined Benefit Plans	Total other Reserves	Retained earnings	Total Equity
December 31, 2012	30.710	5.813	36.523	1.009	-977	-4.802	-4.770	22.832	54.585
Result of the period	0	0	0	0	0	0	0	6.960	6.960
Other comprehensive income
Currency Translation Difference	0	0	0	-373	0	0	-373	0	-373
Financial instruments	0	0	0	0	809	0	809	0	809
Defined Benefit Plans	0	0	0	0	0	77	77	0	77
Tax on items taken directly to or transferred from equity	0	0	0	0	-243	-23	-266	0	-266
Total other comprehensive income/(loss) for the half-year, net of tax	0	0	0	-373	566	54	247	0	247
Dividend paid out	0	0	0	0	0	0	0	-2.001	-2.001
June 30, 2013	30.710	5.813	36.523	636	-411	-4.748	-4.523	27.791	59.791

The notes on pages 13 to 19 are an integral part of this condensed consolidated interim financial

information.

CONDENSED CONSOLIDATED CASH FLOW STATEMENT

(in thousands of euro)	Notes	June 30	June 30
		2013	2012
Cash flows from operating activities		12.988	10.088
Changes in working capital		-8.643	-11.111
Corporate income tax paid		-906	-3.659
Net cash flow from operating activities - continuing operations		3.439	-4.682
Net cash flow from operating activities - discontinued operations		-37	-5.443
Net cash flow from operating activities - total		3.402	-10.125
Net cash flow from investment activities		-1.269	4.152
Cash flow before financing		2.133	-5.973
Net cash flow from financial activities		-122	3.572
Net Change in cash and cash equivalents		2.011	-2.401
Cash, cash equivalent and bank overdrafts at the beginning of the year Exchange gains/(losses) on cash and bank overdrafts		-976 -373	-334 742
Cash, cash equivalent and bank overdrafts at the end of the period	4	662	-1.993

Notes to the condensed consolidated financial statements

Note 1 - Basis of Preparation

The JENSEN-GROUP (hereafter "The Group") is one of the major suppliers to the heavy-duty laundry industry. The Group markets its products and services under the JENSEN brand and is a leading supplier to the heavy-duty market. The product range varies from transportation and handling systems, tunnel washers, separators, feeders, ironers, folders to complete project management for fully-equipped and professionally managed industrial laundries. The JENSEN-GROUP has operations in 18 countries and distributes its products in more than 40 countries. Worldwide, the JENSEN-GROUP employs approximately 1.170 people.

JENSEN-GROUP N.V. (hereafter "The Company") is incorporated in Belgium. Its registered office is at Bijenstraat 6, 9051 Sint-Denijs-Westrem, Belgium.

The JENSEN-GROUP shares are quoted on the Euronext Stock Exchange.

This condensed consolidated interim financial information is for the first half-year ended June 30, 2013. These interim financial statements are prepared in accordance with IAS 34 "Interim Financial Reporting", as adopted by the EU. The accounting policies used in the preparation of the interim financial statements are consistent with those used in the annual financial statements for the year ended December 31, 2012 except for the classification of currency result as set out in note 2.

This condensed consolidated interim financial information should be read in conjunction with the 2012 annual IFRS consolidated financial statements.

This condensed consolidated interim financial information has been reviewed by an independent auditor, not audited.

The policies have been consistently applied to all the periods presented.

Taxation is determined annually and, accordingly, the tax charge for the interim period involves making an estimate of the likely effective tax rate for the year. The calculation of the effective tax rate is based on an estimate of the tax charge or credit for the year expressed as a percentage of the expected accounting profit or loss. This percentage is then applied to the interim result, and the tax is recognized rateably over the year as a whole.

This condensed consolidated interim financial information has been prepared in accordance with those IFRS standards and IFRIC interpretations issued and effective or issued and early adopted as at 30 June 2013 which have been adopted by the European Union, as follows:

The new standards, amendments to standards and interpretations listed below reflect the endorsement status at 30 June 2013.

The following new standards, amendments to standards and interpretations are mandatory for the first time for the financial year beginning 1 January 2013:

• Amendments to IFRS 1 'First-time adoption of IFRSs' related to severe hyperinflation and the removal of fixed dates for first-time adopters. These amendments are effective on or after 1 January 2013.
• Amendments to IAS 12 'Deferred taxes', effective on or after 1 January 2013. The amendments provide a practical approach for measuring deferred tax liabilities and deferred tax assets when investment property is measured using the fair value model.
• Amendments to IAS 1 'Presentation of financial statements', effective for annual periods beginning on or after 1 July 2012. The amendment changes the disclosure of items presented in other comprehensive income (OCI) in the statement of comprehensive income.
• IAS 19 Revised 'Employee benefits', effective for annual periods beginning on or after 1 January 2013. Through these amendments significant changes are made to the recognition and measurement of defined benefit pension expense and termination benefits, and to the disclosures for all employee benefits.
• Amendments to IFRS 1 'First-time adoption of IFRSs' related to government loans, dealing with loans received from governments at a below market rate of interest, give first-time adopters of IFRSs relief from full retrospective application of IFRSs when accounting for these loans on transition. These amendments are effective for annual periods beginning on or after 1 January 2013.
• Amendments to IFRS 7 'Disclosures Offsetting financial assets and financial liabilities', effective for annual periods beginning on or after 1 January 2013. The amendment reflects the joint requirements with the FASB to enhance current offsetting disclosures. The new disclosures are intended to facilitate comparison between those entities that prepare IFRS financial statements to those that prepare financial statements in accordance with US GAAP.
• IFRS 13 'Fair value measurement', effective for annual periods beginning on or after 1 January 2013. The new standard explains how to measure fair value for financial reporting.
• IFRIC 20 'Stripping costs in the production phase of a surface mine', effective for annual periods beginning on or after 1 January 2013. IFRIC 20 sets out the accounting for overburden waste removal (stripping) costs in the production phase of a mine. The interpretation may require mining entities to write off existing stripping assets to opening retained earnings if the assets cannot be attributed to an identifiable component of an ore body.
• IASB publishes 'Annual improvements' with minor amendments to five standards for 2013 year ends including IFRS 1, 'First time adoption of IFRS', IAS 1, 'Presentation of financial

statements', IAS 16, 'Property, plant and equipment', IAS 32, 'Financial instruments: Presentation' and IAS 34, 'Interim financial reporting'.

The following new standards and amendments to standards have been issued and have been endorsed by the European Union, but are not mandatory for the first time for the financial year beginning 1 January 2013:

• IAS 27 Revised 'Separate financial statements', effective for annual periods beginning on or after 1 January 2014. The revised standard includes the provisions on separate financial statements that are left after the control provisions of IAS 27 have been included in the new IFRS 10.
• IAS 28 Revised 'Investments in associates and joint ventures', effective for annual periods beginning on or after 1 January 2014. The revised standard now includes the requirements for joint ventures, as well as associates, to be equity accounted following the issue of IFRS 11.
• IFRS 10 'Consolidated financial statements', effective for annual periods beginning on or after 1 January 2014. The new standard builds on existing principles by identifying the concept of control as the determining factor in whether an entity should be included within the consolidated financial statements.
• IFRS 11 'Joint arrangements', effective for annual periods beginning on or after 1 January 2014. The new standard focuses on the rights and obligations rather than the legal form. Proportional consolidation is no longer allowed.
• IFRS 12 'Disclosure of interests in other entities', effective for annual periods beginning on or after 1 January 2014. This is a new standard on disclosure requirements for all forms of interests in other entities.
• Amendments to IFRS 10 'Consolidated financial statements', IFRS 11 'Joint arrangements' and IFRS 12 'Disclosure of interests in other entities'. The amendments clarify the transition guidance in IFRS 10, and provide additional transition relief (for example by limiting the requirement to provide adjusted comparative information to only the preceding comparative period or, for disclosures related to unconsolidated structured entities, removing the requirement to present comparative information for periods before IFRS 12 is first applied). These amendments will be effective for annual periods beginning on or after 1 January 2014 which is aligned with the effective date of IFRS 10, 11 and 12.
• Amendments to IAS 32 'Offsetting financial assets and financial liabilities', effective for annual periods beginning on or after 1 January 2014. The amendments clarify some of the requirements for offsetting financial assets and financial liabilities on the statement of financial position.

The following new standard, amendments to standards and interpretation have been issued, but are not mandatory for the first time for the financial year beginning 1 January 2013 and have not been endorsed by the European Union:

• Amendments to IAS 36 'Impairment of assets', effective for periods beginning on or after 1 January 2014. The IASB made consequential amendments to the disclosure requirements of IAS 36 when it issued IFRS 13. One of the amendments was drafted more widely than intended. This limited scope amendment corrects this and introduces additional disclosures about fair value measurements when there has been impairment or a reversal of impairment.
• Amendments to IAS 39 'Financial instruments: Recognition and measurement', effective for annual periods beginning on or after 1 January 2014. These amendments provide relief from discontinuing hedge accounting when novation of a derivative designated as a hedging instrument meets certain criteria. Similar relief will be included in IFRS 9 'Financial instruments'.
• IFRS 9 'Financial instruments', effective for periods beginning on or after 1 January 2015. The standard addresses the classification, measurement and derecognition of financial assets and financial liabilities.
• Amendments to IFRS 10 'Consolidated financial statements', IFRS 12 'Disclosure of interests in other entities' and IAS 27 'Separate financial statements' for investment entities. Effective for annual periods beginning on or after 1 January 2014. The amendments give an exemption to entities that meet an 'investment entity' definition and which display certain characteristics to account for its subsidiaries at fair value.
• IFRIC 21 'Levies', effective for periods beginning on or after 1 January 2014. IFRIC 21 sets out the accounting for a liability to pay a levy if that liability is within the scope of IAS 37. It also addresses the accounting for a liability to pay a levy whose timing and amount is certain.

The Group is currently assessing the impact of the new requirements.

This condensed consolidated interim financial information is prepared under the historical cost convention, as modified by the revaluation of available-for-sale financial assets, and financial assets and financial liabilities (including derivative instruments) at fair value through profit or loss.

This condensed consolidated interim financial information is prepared on an accrual basis and on the assumption that the Group is a going concern and will continue in operation for the foreseeable future.

The preparation of the condensed consolidated interim financial information in accordance with IAS 34 requires management to make estimates and assumptions that affect the reported amounts of

revenue, expenses, assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements. The areas involving a higher degree of judgement or complexity, or areas where assumptions and estimates are significant to the consolidated financial statements are disclosed in the accounting policies.

Note 2 – Changes in accounting policies and other changes, and their impact on equity

There are no changes in the accounting policies compared with the accounting policies used in the preparation of the consolidated financial statements as per December 31, 2012 except for the classification of currency result:

Based on the prior accounting policy, the sales and purchase transactions in foreign currency were accounted for at spot rate. During year-end closing, the revaluation of the balance sheet positions and of the hedging contracts at closing rate resulted in a currency gain or loss that was recorded in the financial result. As a consequence, the gain or loss of FX hedging transactions designed to protect the margin on sales was not included in the operating profit.

In order to improve the classification of the result on transaction in foreign currency, the Audit Committee approved in November 2012 to change the presentation of currency result. Depending on the nature of the currency result, it is now recorded in operating or financial result.

The table below gives on overview of the impact of this change in classification on the different lines of the comprehensive income statement: As per June 2013, 0.1 million euro currency gain is classified in the operating result. In the comparable figures of 2012, 0.3 million euro currency loss is classified in operating result.

(in thousand of	June 2013	June 2013	June 2012	June 2012
euro)	New rules	Old rules	New rules	Old rules
Operating	10.464	10.330	8.642	8.970
result
Net financial	-810	-676	-1.094	-1.422
charges
Profit before	9.654	9.654	7.548	7.548
taxes

The significant accounting policies applied in the condensed interim financial statements are presented on pages 67 – 74 of the annual consolidated financial statements for the year ended December 31, 2012.

Note 3 – Segment reporting

The total laundry industry can be split up into Consumer, Commercial and Heavy Duty laundry. The JENSEN-GROUP entities serve end-customers in the Heavy Duty laundry segment. They follow the same process. The JENSEN-GROUP sells its products and services under the JENSENTM brand through own sales and service companies and independent distributors worldwide. In this way the JENSEN-GROUP operates only in one single segment.

The following table presents revenue and non-current asset information based on the Group's geographical areas:

(in thousand of euro)	Europe + CIS			America		Middle East, Far East and Australia		TOTAL OPERATIONS
	June 13	June 12	June 13	June 12	June 13	June 12	June 13	June 12
Revenue from external customers	78.416	83.761	23.321	16.834	21.796	14.951	123.533	115.546
Other segment information
Non-current assets	18.498	18.820	2.888	3.369	2.928	3.375	24.314	25.564

Note 4 - Cash flow statement

Cash, cash equivalent and bank overdrafts include the following for the purpose of the cash flow statement:

(in thousands of euro)	June 30 2013	June 30 2012
cash	5.694	5.208
bank overdrafts	-5.032	-7.201
Cash, cash equivalent and bank overdrafts at the end of the period	662	-1.993

The net cash flow from operating activities increased with 8.1 million euro because of higher profitability.

Last year, the net cash flow from discontinued operations and the net cash flow from investment activities included the re-classification of the building in Switzerland that was held for sale.

Note 5 – Commitments and contingencies

There are no major changes compared to December 31, 2012.

Note 6 – Scope of consolidation

There are no changes in the scope of consolidation as at the end of June 2013.

Note 7 – Related party transactions

The shareholders of the Group as per June 30, 2013 are:

JENSEN Invest:	51.48%
Petercam:	8.66%
Free float:	39.85%

There are no significant changes in compensation of key management.

Note 8 - Events after balance sheet date

The JENSEN-GROUP decided to expand its presence in Japan and incorporated JENSEN Japan Co on July 3, 2013.

On August 16, 2013 JENSEN-GROUP took over its Austrian distributor ÖWM. This transaction will not have a material impact on the financial statements of JENSEN-GROUP as most of the activities are already reflected in the consolidated Group results as distributors' sales.

To the Board of Directors Jensen-Group NV

Statutory auditor's report on review of condensed consolidated financial information for the period ended 30 June 2013

Introduction

We have reviewed the accompanying consolidated condensed statement of financial position of Jensen-Group NV and its subsidiaries as of 30 June 2013 and the related consolidated condensed statements of comprehensive income, changes in equity and cash flows for the six-month period then ended, as well as the explanatory notes. The board of directors is responsible for the preparation and presentation of this consolidated condensed financial information in accordance with IAS 34, as adopted by the European Union. Our responsibility is to express a conclusion on this consolidated condensed financial information based on our review.

Scope of Review

We conducted our review in accordance with International Standard on Review Engagements 2410, "Review of Interim Financial Information Performed by the Independent Auditor of the Entity." A review of interim financial information consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with International Standards on Auditing and, consequently, does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion.

Conclusion

Based on our review, nothing has come to our attention that causes us to believe that the accompanying consolidated condensed financial information is not prepared, in all material respects, in accordance with IAS 34, as adopted by the European Union.

Antwerp, 20 August 2013

PwC Bedrijfsrevisoren bcvba Represented by

Filip Lozie* Bedrijfsrevisor

*Filip Lozie BVBA Board Member, represented by its fixed representative, Filip Lozie Regulated information

JENSEN-GROUP Half Year Results 2013

Consolidated, non-audited key figures

Income Statement 30/06/2013- 30/06/2012
	Non-audited, consolidated key figures
(million euro)	June 30, 2013	June 30, 2012	Change
	6M	6M
Revenue	123,5	115,5	6,91%
EBIT3	10,5	8,6	21,08%
Cash flow (EBITDA) 1	13,8	9,4	47,39%
Financial result3	-0,8	-1,1	-25,96%
Profit before taxes	9,7	7,5	27,90%
Taxes	-2,7	-2,6	0,72%
Net income continuing operations	7,0	4,9	42,53%
Result from discontinued operations	0,0	0,0
Net income (Group share in the profit)	7,0	4,9	42,83%
Net cash flow 2	10,4	5,7	83,42%
Balance sheet as of 30/06/2013- 31/12/2012
	Non-audited, consolidated key figures
(Mln euro)	June 30, 2013 Dec 31, 2012		Change
	6M	12M
Equity	59,8	54,6	9,54%
Net financial debt	11,9	10,9	9,66%
Assets held for sale	0,4	0,4	0,79%
Total assets	146,5	148,2	-1,15%
Non-audited, consolidated key figures per share
(euro)	June 30, 2013 6M	June 30, 2012 6M	Change
Cash flow from operations (EBITDA) 1	1,73	1,17	47,86%
Profit before taxes	1,21	0,94	28,72%
Profit after taxes continuing operations (EPS)	0,87	0,61	42,62%
Net cash flow 2	1,29	0,71	81,69%
Equity (June 30, 2013 - December 31, 2012)	7,47	6,82	9,53%

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.

3 Reclassification of 0.1 million currency gain to EBIT in 2013 and 0.3 million currency loss in 2012.

Number of shares (end of period) 8.002.968 8.002.968 Number of shares (average) 8.002.968 8.002.968

Interim Financial Information June 30, 2013

Financial review

• Revenue of the first half-year of 2013 amounts to 123.5 million euro, a 6.91% increase compared to last year.
• Operating profit (EBIT) for the first six months amounts to 10.5 million euro, which is 21.08 % higher than last year.
• Cash flow (EBITDA) for the first half year amounts to 13.8 million euro, a 47.39% increase compared to last year.
• Net profit amounts to 7.0 million euro (Earnings per Share of 0.87 euro), an increase of 42.53 % compared to last year.
• Net financial debt amounts to 11.9 million euro and increased by 1.0 million euro compared to December 2012.
• JENSEN-GROUP continues to expand its worldwide distribution network: On June 11, 2013 JENSEN Brasil was created. On July 3, 2013 JENSEN Japan Co. has been incorporated. On August 16, 2013 JENSEN-GROUP took over its Austrian distributor ÖWM. This transaction will not have a material impact on the financial statements of JENSEN-GROUP as most of the activities are already reflected in the consolidated Group results as distributors' sales.

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 2012. The increase in turnover is primarily due to higher activity in the USA, in Canada as well as in the Far East.
• o At June 30, 2013 the order backlog decreased by 34% compared to the backlog at June 30, 2012. Therefore JENSEN-GROUP expects a lower second half and has aligned its production capacity.
• EBIT
• o Consolidated EBIT increased from 8.6 million euro to 10.5 million euro (+21.08%) due to the higher activity level and productivity gains.

Report of the Board of Directors

Important developments of the first 6 months

Revenue is higher than the first half year of 2012 (123.5 million euro compared to 115.5 million euro prior year) due to a high order backlog at the beginning of the year. JENSEN-GROUP enjoyed a high activity level in the USA, in Canada as well as in the Far East.

The higher activity level and productivity gains contributed to the increase in operating profit by 21.08% over the last year.

The financial result was 0.3 million euro better than prior year: JENSEN-GROUP recorded a currency gain compared to a currency loss in 2012.

JENSEN-GROUP changed the valuation rules regarding the allocation of the currency gains and losses: In order to have a better matching of the result on transactions in foreign currency, the Audit Committee approved in November 2012 to change the recording of currency gains and losses. Depending on the nature of the currency effect, it is presented in operating or financial result. As per June 2013, 0.1 million euro currency gain is classified in the operating result. In the comparable figures of 2012, 0.3 million euro currency loss is classified in operating result. There is no impact on the net income as it is only a reclassification.

All the factors described above resulted in a 2.1 million euro increase in the Groups net income from continuing operations (from 4.9 million euro to 7.0 million euro).

Outlook for the remaining 6 months

At June 30, 2013 the order backlog decreased by 34% compared to the backlog at June 30, 2012. Therefore JENSEN-GROUP expects a lower second half and has aligned its production capacity.

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.

Important transactions with related parties

There were no important transactions with related parties.

Events after balance sheet date

The JENSEN-GROUP decided to expand its presence in Japan and incorporated JENSEN Japan Co on July 3, 2013.

On August 16, 2013 JENSEN-GROUP took over its Austrian distributor ÖWM. This transaction will not have a material impact on the financial statements of JENSEN-GROUP as most of the activities are already reflected in the consolidated Group results as distributors' sales.

Ghent, August 20, 2013

Raf Decaluwé Jesper M. Jensen Chairman of the Board of Directors Chief Executive Officer

Statement of the Responsible Persons

We hereby certify that, to the best of our knowledge, the condensed consolidated financial statements for the six-months period ended June 30, 2013 which has been prepared in accordance with the IAS 34 "Interim Financial Reporting" as adopted by the European Union, gives a true and fair view of the assets, liabilities, financial position and profit or loss of the company and the entities included in the consolidation as a whole, and that the interim management report includes a fair review of the important events that have occurred during the first six months of the financial year and of the major transactions with the related parties, and their impact on the condensed consolidated financial statements, together with a description of the principal risks and uncertainties for the remaining six months of the financial year.

Ghent, August 20, 2013

Jesper M. Jensen Markus Schalch Chief Executive Officer Chief Financial Officer

CONDENSED CONSOLIDATED STATEMENT OF FINANCIAL POSITION

		June 30 2013	December 31 2012
(in thousands of euro)	Notes
Total Non-Current Assets		30.431	29.860
Intangible assets		4.795	4.865
Property, plant and equipment		18.681	18.818
Trade and other long term receivables		838	865
Deferred taxes		6.117	5.312
' Total Current Assets		116.079	118.361
Inventories		29.089	28.409
A. Trade debtors B. Other amounts receivable		52.544 3.626	47.015 3.381
C. Gross amounts due from customers for contrac t work D. Derivative Financial Instruments Trade and other receivables		24.584 160 80.914	29.059 232 79.687
Cash and cash equivalents	4	5.694	9.886
Assets held for sale		382	379
TOTAL ASSETS		146.510	148.221

(in thousands of euro)	Notes	June 30 2013	December 31 2012
Equity attributable to equity holders		59.791	54.585
Share Capital		36.523	36.523
Other reserves		-4.523	-4.770
Retained earnings		27.791	22.832
Non Current Liabilities		20.360	20.800
Borrowings		6.894	7.219
Finance lease obligations			71
Deferred income tax liabilities		180	274
Provisions for employee benefit obligations		12.735	12.608
Derrivative financial instruments		551	628
Current Liabilities		66.359	72.836
Borrowings		10.584	13.328
Finance lease obligations		145	146
Provisions for other liabilities and charges		12.565	10.884
A. Trade debts B. Advances received for contrac t work C. Remuneration and social security D. Other amounts payable E. Accrued expenses Derivative financial instruments		15.655 5.435 9.911 1.247 6.034 443	19.538 9.495 8.965 1.601 5.658 635
Trade and other payables		38.725	45.892
Current income tax liabilities TOTAL EQUITY AND LIABILITIES		4.340 146.510	2.586 148.221

CONDENSED CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME

(in thousands of euro)	Notes	June 30, 2013	June 30, 2012
Revenue	3	123.533	115.546
Total expenses		-113.087	-107.236
Other Income / ( Expense)		18	332
Operating profit before tax and finance (cost)/ income		10.464	8.642
Net financial charges		-810	-1.094
Profit before tax		9.654	7.548
Income tax expense		-2.660	-2.641
Profit for the half-year from continuing operations		6.994	4.907
Result from discontinued operations		-34	-34
Consolidated profit for the half-year		6.960	4.873
Other comprehensive income: Gains/(losses) recognized directly in equity
Financial instruments		809	-240
Currency translation differences		-373	742
Actual gains/(losses) on Defined Benefit Plans		77	-27
Tax on items taken directly on or transferred from equity		-266	80
TOTAL OTHER COMPREHENSIVE INCOME/(LOSS) FOR THE HALF-YEAR		247	555
TOTAL COMPREHENSIVE INCOME FOR THE HALF-YEAR		7.207	5.428
Profit attributable to:
Equity holders of the company		6.960	4.873
Total comprehensive income attributable to: Equity holders of the company		7.207	5.428
Basic and diluted earnings per share (in euro's) Weighted average number of shares		0,87 8.002.968	0,61 8.002.968

CONDENSED CONSOLIDATED STATEMENT OF CHANGES IN EQUITY

June 30, 2012	42.715	5.813	48.528	1.735	-1.273	-2.833	-2.371	17.309	63.466
Dividend paid out	0	0	0	0			0	-2.001	-2.001
Total other comprehensive income/(loss) for the half-year, net of tax	0	0	0	742	-168	-19	555	0	555
Tax on items taken directly to or transferred from equity	0	0	0	0	72	8	80		80
Defined Benefit Plans	0	0	0	0	0	-27	-27	0	-27
Financial instruments	0	0	0	0	-240	0	-240	0	-240
Currency Translation Difference	0	0	0	742	0	0	742	0	742
Other comprehensive income
Result of the period	0	0	0	0	0	0	0	4.873	4.873
December 31, 2011	42.715	5.813	48.528	993	-1.105	-2.814	-2.926	14.437	60.039
In thousands of euro	Capital	Share premium	Total Share Capital	Translation differences	Hedging Reserves	Ac tuarial gains and losses on Defined Benefit Plans	Total other Reserves	Retained earnings	Total Equity

In thousands of euro	Capital	Share premium	Total Share Capital	Translation differences	Hedging Reserves	Actuarial gains and losses on Defined Benefit Plans	Total other Reserves	Retained earnings	Total Equity
December 31, 2012	30.710	5.813	36.523	1.009	-977	-4.802	-4.770	22.832	54.585
Result of the period	0	0	0	0	0	0	0	6.960	6.960
Other comprehensive income
Currency Translation Difference	0	0	0	-373	0	0	-373	0	-373
Financial instruments	0	0	0	0	809	0	809	0	809
Defined Benefit Plans	0	0	0	0	0	77	77	0	77
Tax on items taken directly to or transferred from equity	0	0	0	0	-243	-23	-266	0	-266
Total other comprehensive income/(loss) for the half-year, net of tax	0	0	0	-373	566	54	247	0	247
Dividend paid out	0	0	0	0	0	0	0	-2.001	-2.001
June 30, 2013	30.710	5.813	36.523	636	-411	-4.748	-4.523	27.791	59.791

The notes on pages 13 to 19 are an integral part of this condensed consolidated interim financial

information.

CONDENSED CONSOLIDATED CASH FLOW STATEMENT

(in thousands of euro)	Notes	June 30	June 30
		2013	2012
Cash flows from operating activities		12.988	10.088
Changes in working capital		-8.643	-11.111
Corporate income tax paid		-906	-3.659
Net cash flow from operating activities - continuing operations		3.439	-4.682
Net cash flow from operating activities - discontinued operations		-37	-5.443
Net cash flow from operating activities - total		3.402	-10.125
Net cash flow from investment activities		-1.269	4.152
Cash flow before financing		2.133	-5.973
Net cash flow from financial activities		-122	3.572
Net Change in cash and cash equivalents		2.011	-2.401
Cash, cash equivalent and bank overdrafts at the beginning of the year Exchange gains/(losses) on cash and bank overdrafts		-976 -373	-334 742
Cash, cash equivalent and bank overdrafts at the end of the period	4	662	-1.993

Notes to the condensed consolidated financial statements

Note 1 - Basis of Preparation

The JENSEN-GROUP (hereafter "The Group") is one of the major suppliers to the heavy-duty laundry industry. The Group markets its products and services under the JENSEN brand and is a leading supplier to the heavy-duty market. The product range varies from transportation and handling systems, tunnel washers, separators, feeders, ironers, folders to complete project management for fully-equipped and professionally managed industrial laundries. The JENSEN-GROUP has operations in 18 countries and distributes its products in more than 40 countries. Worldwide, the JENSEN-GROUP employs approximately 1.170 people.

JENSEN-GROUP N.V. (hereafter "The Company") is incorporated in Belgium. Its registered office is at Bijenstraat 6, 9051 Sint-Denijs-Westrem, Belgium.

The JENSEN-GROUP shares are quoted on the Euronext Stock Exchange.

This condensed consolidated interim financial information is for the first half-year ended June 30, 2013. These interim financial statements are prepared in accordance with IAS 34 "Interim Financial Reporting", as adopted by the EU. The accounting policies used in the preparation of the interim financial statements are consistent with those used in the annual financial statements for the year ended December 31, 2012 except for the classification of currency result as set out in note 2.

This condensed consolidated interim financial information should be read in conjunction with the 2012 annual IFRS consolidated financial statements.

This condensed consolidated interim financial information has been reviewed by an independent auditor, not audited.

The policies have been consistently applied to all the periods presented.

Taxation is determined annually and, accordingly, the tax charge for the interim period involves making an estimate of the likely effective tax rate for the year. The calculation of the effective tax rate is based on an estimate of the tax charge or credit for the year expressed as a percentage of the expected accounting profit or loss. This percentage is then applied to the interim result, and the tax is recognized rateably over the year as a whole.

This condensed consolidated interim financial information has been prepared in accordance with those IFRS standards and IFRIC interpretations issued and effective or issued and early adopted as at 30 June 2013 which have been adopted by the European Union, as follows:

The new standards, amendments to standards and interpretations listed below reflect the endorsement status at 30 June 2013.

The following new standards, amendments to standards and interpretations are mandatory for the first time for the financial year beginning 1 January 2013:

• Amendments to IFRS 1 'First-time adoption of IFRSs' related to severe hyperinflation and the removal of fixed dates for first-time adopters. These amendments are effective on or after 1 January 2013.
• Amendments to IAS 12 'Deferred taxes', effective on or after 1 January 2013. The amendments provide a practical approach for measuring deferred tax liabilities and deferred tax assets when investment property is measured using the fair value model.
• Amendments to IAS 1 'Presentation of financial statements', effective for annual periods beginning on or after 1 July 2012. The amendment changes the disclosure of items presented in other comprehensive income (OCI) in the statement of comprehensive income.
• IAS 19 Revised 'Employee benefits', effective for annual periods beginning on or after 1 January 2013. Through these amendments significant changes are made to the recognition and measurement of defined benefit pension expense and termination benefits, and to the disclosures for all employee benefits.
• Amendments to IFRS 1 'First-time adoption of IFRSs' related to government loans, dealing with loans received from governments at a below market rate of interest, give first-time adopters of IFRSs relief from full retrospective application of IFRSs when accounting for these loans on transition. These amendments are effective for annual periods beginning on or after 1 January 2013.
• Amendments to IFRS 7 'Disclosures Offsetting financial assets and financial liabilities', effective for annual periods beginning on or after 1 January 2013. The amendment reflects the joint requirements with the FASB to enhance current offsetting disclosures. The new disclosures are intended to facilitate comparison between those entities that prepare IFRS financial statements to those that prepare financial statements in accordance with US GAAP.
• IFRS 13 'Fair value measurement', effective for annual periods beginning on or after 1 January 2013. The new standard explains how to measure fair value for financial reporting.
• IFRIC 20 'Stripping costs in the production phase of a surface mine', effective for annual periods beginning on or after 1 January 2013. IFRIC 20 sets out the accounting for overburden waste removal (stripping) costs in the production phase of a mine. The interpretation may require mining entities to write off existing stripping assets to opening retained earnings if the assets cannot be attributed to an identifiable component of an ore body.
• IASB publishes 'Annual improvements' with minor amendments to five standards for 2013 year ends including IFRS 1, 'First time adoption of IFRS', IAS 1, 'Presentation of financial

statements', IAS 16, 'Property, plant and equipment', IAS 32, 'Financial instruments: Presentation' and IAS 34, 'Interim financial reporting'.

The following new standards and amendments to standards have been issued and have been endorsed by the European Union, but are not mandatory for the first time for the financial year beginning 1 January 2013:

• IAS 27 Revised 'Separate financial statements', effective for annual periods beginning on or after 1 January 2014. The revised standard includes the provisions on separate financial statements that are left after the control provisions of IAS 27 have been included in the new IFRS 10.
• IAS 28 Revised 'Investments in associates and joint ventures', effective for annual periods beginning on or after 1 January 2014. The revised standard now includes the requirements for joint ventures, as well as associates, to be equity accounted following the issue of IFRS 11.
• IFRS 10 'Consolidated financial statements', effective for annual periods beginning on or after 1 January 2014. The new standard builds on existing principles by identifying the concept of control as the determining factor in whether an entity should be included within the consolidated financial statements.
• IFRS 11 'Joint arrangements', effective for annual periods beginning on or after 1 January 2014. The new standard focuses on the rights and obligations rather than the legal form. Proportional consolidation is no longer allowed.
• IFRS 12 'Disclosure of interests in other entities', effective for annual periods beginning on or after 1 January 2014. This is a new standard on disclosure requirements for all forms of interests in other entities.
• Amendments to IFRS 10 'Consolidated financial statements', IFRS 11 'Joint arrangements' and IFRS 12 'Disclosure of interests in other entities'. The amendments clarify the transition guidance in IFRS 10, and provide additional transition relief (for example by limiting the requirement to provide adjusted comparative information to only the preceding comparative period or, for disclosures related to unconsolidated structured entities, removing the requirement to present comparative information for periods before IFRS 12 is first applied). These amendments will be effective for annual periods beginning on or after 1 January 2014 which is aligned with the effective date of IFRS 10, 11 and 12.
• Amendments to IAS 32 'Offsetting financial assets and financial liabilities', effective for annual periods beginning on or after 1 January 2014. The amendments clarify some of the requirements for offsetting financial assets and financial liabilities on the statement of financial position.

The following new standard, amendments to standards and interpretation have been issued, but are not mandatory for the first time for the financial year beginning 1 January 2013 and have not been endorsed by the European Union:

• Amendments to IAS 36 'Impairment of assets', effective for periods beginning on or after 1 January 2014. The IASB made consequential amendments to the disclosure requirements of IAS 36 when it issued IFRS 13. One of the amendments was drafted more widely than intended. This limited scope amendment corrects this and introduces additional disclosures about fair value measurements when there has been impairment or a reversal of impairment.
• Amendments to IAS 39 'Financial instruments: Recognition and measurement', effective for annual periods beginning on or after 1 January 2014. These amendments provide relief from discontinuing hedge accounting when novation of a derivative designated as a hedging instrument meets certain criteria. Similar relief will be included in IFRS 9 'Financial instruments'.
• IFRS 9 'Financial instruments', effective for periods beginning on or after 1 January 2015. The standard addresses the classification, measurement and derecognition of financial assets and financial liabilities.
• Amendments to IFRS 10 'Consolidated financial statements', IFRS 12 'Disclosure of interests in other entities' and IAS 27 'Separate financial statements' for investment entities. Effective for annual periods beginning on or after 1 January 2014. The amendments give an exemption to entities that meet an 'investment entity' definition and which display certain characteristics to account for its subsidiaries at fair value.
• IFRIC 21 'Levies', effective for periods beginning on or after 1 January 2014. IFRIC 21 sets out the accounting for a liability to pay a levy if that liability is within the scope of IAS 37. It also addresses the accounting for a liability to pay a levy whose timing and amount is certain.

The Group is currently assessing the impact of the new requirements.

This condensed consolidated interim financial information is prepared under the historical cost convention, as modified by the revaluation of available-for-sale financial assets, and financial assets and financial liabilities (including derivative instruments) at fair value through profit or loss.

This condensed consolidated interim financial information is prepared on an accrual basis and on the assumption that the Group is a going concern and will continue in operation for the foreseeable future.

The preparation of the condensed consolidated interim financial information in accordance with IAS 34 requires management to make estimates and assumptions that affect the reported amounts of

revenue, expenses, assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements. The areas involving a higher degree of judgement or complexity, or areas where assumptions and estimates are significant to the consolidated financial statements are disclosed in the accounting policies.

Note 2 – Changes in accounting policies and other changes, and their impact on equity

There are no changes in the accounting policies compared with the accounting policies used in the preparation of the consolidated financial statements as per December 31, 2012 except for the classification of currency result:

Based on the prior accounting policy, the sales and purchase transactions in foreign currency were accounted for at spot rate. During year-end closing, the revaluation of the balance sheet positions and of the hedging contracts at closing rate resulted in a currency gain or loss that was recorded in the financial result. As a consequence, the gain or loss of FX hedging transactions designed to protect the margin on sales was not included in the operating profit.

In order to improve the classification of the result on transaction in foreign currency, the Audit Committee approved in November 2012 to change the presentation of currency result. Depending on the nature of the currency result, it is now recorded in operating or financial result.

The table below gives on overview of the impact of this change in classification on the different lines of the comprehensive income statement: As per June 2013, 0.1 million euro currency gain is classified in the operating result. In the comparable figures of 2012, 0.3 million euro currency loss is classified in operating result.

(in thousand of	June 2013	June 2013	June 2012	June 2012
euro)	New rules	Old rules	New rules	Old rules
Operating	10.464	10.330	8.642	8.970
result
Net financial	-810	-676	-1.094	-1.422
charges
Profit before	9.654	9.654	7.548	7.548
taxes

The significant accounting policies applied in the condensed interim financial statements are presented on pages 67 – 74 of the annual consolidated financial statements for the year ended December 31, 2012.

Note 3 – Segment reporting

The total laundry industry can be split up into Consumer, Commercial and Heavy Duty laundry. The JENSEN-GROUP entities serve end-customers in the Heavy Duty laundry segment. They follow the same process. The JENSEN-GROUP sells its products and services under the JENSENTM brand through own sales and service companies and independent distributors worldwide. In this way the JENSEN-GROUP operates only in one single segment.

The following table presents revenue and non-current asset information based on the Group's geographical areas:

(in thousand of euro)	Europe + CIS			America		Middle East, Far East and Australia		TOTAL OPERATIONS
	June 13	June 12	June 13	June 12	June 13	June 12	June 13	June 12
Revenue from external customers	78.416	83.761	23.321	16.834	21.796	14.951	123.533	115.546
Other segment information
Non-current assets	18.498	18.820	2.888	3.369	2.928	3.375	24.314	25.564

Note 4 - Cash flow statement

Cash, cash equivalent and bank overdrafts include the following for the purpose of the cash flow statement:

(in thousands of euro)	June 30 2013	June 30 2012
cash	5.694	5.208
bank overdrafts	-5.032	-7.201
Cash, cash equivalent and bank overdrafts at the end of the period	662	-1.993

The net cash flow from operating activities increased with 8.1 million euro because of higher profitability.

Last year, the net cash flow from discontinued operations and the net cash flow from investment activities included the re-classification of the building in Switzerland that was held for sale.

Note 5 – Commitments and contingencies

There are no major changes compared to December 31, 2012.

Note 6 – Scope of consolidation

There are no changes in the scope of consolidation as at the end of June 2013.

Note 7 – Related party transactions

The shareholders of the Group as per June 30, 2013 are:

JENSEN Invest:	51.48%
Petercam:	8.66%
Free float:	39.85%

There are no significant changes in compensation of key management.

Note 8 - Events after balance sheet date

The JENSEN-GROUP decided to expand its presence in Japan and incorporated JENSEN Japan Co on July 3, 2013.

On August 16, 2013 JENSEN-GROUP took over its Austrian distributor ÖWM. This transaction will not have a material impact on the financial statements of JENSEN-GROUP as most of the activities are already reflected in the consolidated Group results as distributors' sales.

To the Board of Directors Jensen-Group NV

Statutory auditor's report on review of condensed consolidated financial information for the period ended 30 June 2013

Introduction

We have reviewed the accompanying consolidated condensed statement of financial position of Jensen-Group NV and its subsidiaries as of 30 June 2013 and the related consolidated condensed statements of comprehensive income, changes in equity and cash flows for the six-month period then ended, as well as the explanatory notes. The board of directors is responsible for the preparation and presentation of this consolidated condensed financial information in accordance with IAS 34, as adopted by the European Union. Our responsibility is to express a conclusion on this consolidated condensed financial information based on our review.

Scope of Review

We conducted our review in accordance with International Standard on Review Engagements 2410, "Review of Interim Financial Information Performed by the Independent Auditor of the Entity." A review of interim financial information consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with International Standards on Auditing and, consequently, does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion.

Conclusion

Based on our review, nothing has come to our attention that causes us to believe that the accompanying consolidated condensed financial information is not prepared, in all material respects, in accordance with IAS 34, as adopted by the European Union.

Antwerp, 20 August 2013

PwC Bedrijfsrevisoren bcvba Represented by

Filip Lozie* Bedrijfsrevisor

*Filip Lozie BVBA Board Member, represented by its fixed representative, Filip Lozie Regulated information

JENSEN-GROUP Half Year Results 2013

Consolidated, non-audited key figures

Income Statement 30/06/2013- 30/06/2012
	Non-audited, consolidated key figures
(million euro)	June 30, 2013	June 30, 2012	Change
	6M	6M
Revenue	123,5	115,5	6,91%
EBIT3	10,5	8,6	21,08%
Cash flow (EBITDA) 1	13,8	9,4	47,39%
Financial result3	-0,8	-1,1	-25,96%
Profit before taxes	9,7	7,5	27,90%
Taxes	-2,7	-2,6	0,72%
Net income continuing operations	7,0	4,9	42,53%
Result from discontinued operations	0,0	0,0
Net income (Group share in the profit)	7,0	4,9	42,83%
Net cash flow 2	10,4	5,7	83,42%
Balance sheet as of 30/06/2013- 31/12/2012
	Non-audited, consolidated key figures
(Mln euro)	June 30, 2013 Dec 31, 2012		Change
	6M	12M
Equity	59,8	54,6	9,54%
Net financial debt	11,9	10,9	9,66%
Assets held for sale	0,4	0,4	0,79%
Total assets	146,5	148,2	-1,15%
Non-audited, consolidated key figures per share
(euro)	June 30, 2013 6M	June 30, 2012 6M	Change
Cash flow from operations (EBITDA) 1	1,73	1,17	47,86%
Profit before taxes	1,21	0,94	28,72%
Profit after taxes continuing operations (EPS)	0,87	0,61	42,62%
Net cash flow 2	1,29	0,71	81,69%
Equity (June 30, 2013 - December 31, 2012)	7,47	6,82	9,53%

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.

3 Reclassification of 0.1 million currency gain to EBIT in 2013 and 0.3 million currency loss in 2012.

Number of shares (end of period) 8.002.968 8.002.968 Number of shares (average) 8.002.968 8.002.968

Interim Financial Information June 30, 2013

Financial review

• Revenue of the first half-year of 2013 amounts to 123.5 million euro, a 6.91% increase compared to last year.
• Operating profit (EBIT) for the first six months amounts to 10.5 million euro, which is 21.08 % higher than last year.
• Cash flow (EBITDA) for the first half year amounts to 13.8 million euro, a 47.39% increase compared to last year.
• Net profit amounts to 7.0 million euro (Earnings per Share of 0.87 euro), an increase of 42.53 % compared to last year.
• Net financial debt amounts to 11.9 million euro and increased by 1.0 million euro compared to December 2012.
• JENSEN-GROUP continues to expand its worldwide distribution network: On June 11, 2013 JENSEN Brasil was created. On July 3, 2013 JENSEN Japan Co. has been incorporated. On August 16, 2013 JENSEN-GROUP took over its Austrian distributor ÖWM. This transaction will not have a material impact on the financial statements of JENSEN-GROUP as most of the activities are already reflected in the consolidated Group results as distributors' sales.

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 2012. The increase in turnover is primarily due to higher activity in the USA, in Canada as well as in the Far East.
• o At June 30, 2013 the order backlog decreased by 34% compared to the backlog at June 30, 2012. Therefore JENSEN-GROUP expects a lower second half and has aligned its production capacity.
• EBIT
• o Consolidated EBIT increased from 8.6 million euro to 10.5 million euro (+21.08%) due to the higher activity level and productivity gains.

Report of the Board of Directors

Important developments of the first 6 months

Revenue is higher than the first half year of 2012 (123.5 million euro compared to 115.5 million euro prior year) due to a high order backlog at the beginning of the year. JENSEN-GROUP enjoyed a high activity level in the USA, in Canada as well as in the Far East.

The higher activity level and productivity gains contributed to the increase in operating profit by 21.08% over the last year.

The financial result was 0.3 million euro better than prior year: JENSEN-GROUP recorded a currency gain compared to a currency loss in 2012.

JENSEN-GROUP changed the valuation rules regarding the allocation of the currency gains and losses: In order to have a better matching of the result on transactions in foreign currency, the Audit Committee approved in November 2012 to change the recording of currency gains and losses. Depending on the nature of the currency effect, it is presented in operating or financial result. As per June 2013, 0.1 million euro currency gain is classified in the operating result. In the comparable figures of 2012, 0.3 million euro currency loss is classified in operating result. There is no impact on the net income as it is only a reclassification.

All the factors described above resulted in a 2.1 million euro increase in the Groups net income from continuing operations (from 4.9 million euro to 7.0 million euro).

Outlook for the remaining 6 months

At June 30, 2013 the order backlog decreased by 34% compared to the backlog at June 30, 2012. Therefore JENSEN-GROUP expects a lower second half and has aligned its production capacity.

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.

Important transactions with related parties

There were no important transactions with related parties.

Events after balance sheet date

The JENSEN-GROUP decided to expand its presence in Japan and incorporated JENSEN Japan Co on July 3, 2013.

On August 16, 2013 JENSEN-GROUP took over its Austrian distributor ÖWM. This transaction will not have a material impact on the financial statements of JENSEN-GROUP as most of the activities are already reflected in the consolidated Group results as distributors' sales.

Ghent, August 20, 2013

Raf Decaluwé Jesper M. Jensen Chairman of the Board of Directors Chief Executive Officer

Statement of the Responsible Persons

We hereby certify that, to the best of our knowledge, the condensed consolidated financial statements for the six-months period ended June 30, 2013 which has been prepared in accordance with the IAS 34 "Interim Financial Reporting" as adopted by the European Union, gives a true and fair view of the assets, liabilities, financial position and profit or loss of the company and the entities included in the consolidation as a whole, and that the interim management report includes a fair review of the important events that have occurred during the first six months of the financial year and of the major transactions with the related parties, and their impact on the condensed consolidated financial statements, together with a description of the principal risks and uncertainties for the remaining six months of the financial year.

Ghent, August 20, 2013

Jesper M. Jensen Markus Schalch Chief Executive Officer Chief Financial Officer

CONDENSED CONSOLIDATED STATEMENT OF FINANCIAL POSITION

		June 30 2013	December 31 2012
(in thousands of euro)	Notes
Total Non-Current Assets		30.431	29.860
Intangible assets		4.795	4.865
Property, plant and equipment		18.681	18.818
Trade and other long term receivables		838	865
Deferred taxes		6.117	5.312
' Total Current Assets		116.079	118.361
Inventories		29.089	28.409
A. Trade debtors B. Other amounts receivable		52.544 3.626	47.015 3.381
C. Gross amounts due from customers for contrac t work D. Derivative Financial Instruments Trade and other receivables		24.584 160 80.914	29.059 232 79.687
Cash and cash equivalents	4	5.694	9.886
Assets held for sale		382	379
TOTAL ASSETS		146.510	148.221

(in thousands of euro)	Notes	June 30 2013	December 31 2012
Equity attributable to equity holders		59.791	54.585
Share Capital		36.523	36.523
Other reserves		-4.523	-4.770
Retained earnings		27.791	22.832
Non Current Liabilities		20.360	20.800
Borrowings		6.894	7.219
Finance lease obligations			71
Deferred income tax liabilities		180	274
Provisions for employee benefit obligations		12.735	12.608
Derrivative financial instruments		551	628
Current Liabilities		66.359	72.836
Borrowings		10.584	13.328
Finance lease obligations		145	146
Provisions for other liabilities and charges		12.565	10.884
A. Trade debts B. Advances received for contrac t work C. Remuneration and social security D. Other amounts payable E. Accrued expenses Derivative financial instruments		15.655 5.435 9.911 1.247 6.034 443	19.538 9.495 8.965 1.601 5.658 635
Trade and other payables		38.725	45.892
Current income tax liabilities TOTAL EQUITY AND LIABILITIES		4.340 146.510	2.586 148.221

CONDENSED CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME

(in thousands of euro)	Notes	June 30, 2013	June 30, 2012
Revenue	3	123.533	115.546
Total expenses		-113.087	-107.236
Other Income / ( Expense)		18	332
Operating profit before tax and finance (cost)/ income		10.464	8.642
Net financial charges		-810	-1.094
Profit before tax		9.654	7.548
Income tax expense		-2.660	-2.641
Profit for the half-year from continuing operations		6.994	4.907
Result from discontinued operations		-34	-34
Consolidated profit for the half-year		6.960	4.873
Other comprehensive income: Gains/(losses) recognized directly in equity
Financial instruments		809	-240
Currency translation differences		-373	742
Actual gains/(losses) on Defined Benefit Plans		77	-27
Tax on items taken directly on or transferred from equity		-266	80
TOTAL OTHER COMPREHENSIVE INCOME/(LOSS) FOR THE HALF-YEAR		247	555
TOTAL COMPREHENSIVE INCOME FOR THE HALF-YEAR		7.207	5.428
Profit attributable to:
Equity holders of the company		6.960	4.873
Total comprehensive income attributable to: Equity holders of the company		7.207	5.428
Basic and diluted earnings per share (in euro's) Weighted average number of shares		0,87 8.002.968	0,61 8.002.968

CONDENSED CONSOLIDATED STATEMENT OF CHANGES IN EQUITY

June 30, 2012	42.715	5.813	48.528	1.735	-1.273	-2.833	-2.371	17.309	63.466
Dividend paid out	0	0	0	0			0	-2.001	-2.001
Total other comprehensive income/(loss) for the half-year, net of tax	0	0	0	742	-168	-19	555	0	555
Tax on items taken directly to or transferred from equity	0	0	0	0	72	8	80		80
Defined Benefit Plans	0	0	0	0	0	-27	-27	0	-27
Financial instruments	0	0	0	0	-240	0	-240	0	-240
Currency Translation Difference	0	0	0	742	0	0	742	0	742
Other comprehensive income
Result of the period	0	0	0	0	0	0	0	4.873	4.873
December 31, 2011	42.715	5.813	48.528	993	-1.105	-2.814	-2.926	14.437	60.039
In thousands of euro	Capital	Share premium	Total Share Capital	Translation differences	Hedging Reserves	Ac tuarial gains and losses on Defined Benefit Plans	Total other Reserves	Retained earnings	Total Equity

In thousands of euro	Capital	Share premium	Total Share Capital	Translation differences	Hedging Reserves	Actuarial gains and losses on Defined Benefit Plans	Total other Reserves	Retained earnings	Total Equity
December 31, 2012	30.710	5.813	36.523	1.009	-977	-4.802	-4.770	22.832	54.585
Result of the period	0	0	0	0	0	0	0	6.960	6.960
Other comprehensive income
Currency Translation Difference	0	0	0	-373	0	0	-373	0	-373
Financial instruments	0	0	0	0	809	0	809	0	809
Defined Benefit Plans	0	0	0	0	0	77	77	0	77
Tax on items taken directly to or transferred from equity	0	0	0	0	-243	-23	-266	0	-266
Total other comprehensive income/(loss) for the half-year, net of tax	0	0	0	-373	566	54	247	0	247
Dividend paid out	0	0	0	0	0	0	0	-2.001	-2.001
June 30, 2013	30.710	5.813	36.523	636	-411	-4.748	-4.523	27.791	59.791

The notes on pages 13 to 19 are an integral part of this condensed consolidated interim financial

information.

CONDENSED CONSOLIDATED CASH FLOW STATEMENT

(in thousands of euro)	Notes	June 30	June 30
		2013	2012
Cash flows from operating activities		12.988	10.088
Changes in working capital		-8.643	-11.111
Corporate income tax paid		-906	-3.659
Net cash flow from operating activities - continuing operations		3.439	-4.682
Net cash flow from operating activities - discontinued operations		-37	-5.443
Net cash flow from operating activities - total		3.402	-10.125
Net cash flow from investment activities		-1.269	4.152
Cash flow before financing		2.133	-5.973
Net cash flow from financial activities		-122	3.572
Net Change in cash and cash equivalents		2.011	-2.401
Cash, cash equivalent and bank overdrafts at the beginning of the year Exchange gains/(losses) on cash and bank overdrafts		-976 -373	-334 742
Cash, cash equivalent and bank overdrafts at the end of the period	4	662	-1.993

Notes to the condensed consolidated financial statements

Note 1 - Basis of Preparation

The JENSEN-GROUP (hereafter "The Group") is one of the major suppliers to the heavy-duty laundry industry. The Group markets its products and services under the JENSEN brand and is a leading supplier to the heavy-duty market. The product range varies from transportation and handling systems, tunnel washers, separators, feeders, ironers, folders to complete project management for fully-equipped and professionally managed industrial laundries. The JENSEN-GROUP has operations in 18 countries and distributes its products in more than 40 countries. Worldwide, the JENSEN-GROUP employs approximately 1.170 people.

JENSEN-GROUP N.V. (hereafter "The Company") is incorporated in Belgium. Its registered office is at Bijenstraat 6, 9051 Sint-Denijs-Westrem, Belgium.

The JENSEN-GROUP shares are quoted on the Euronext Stock Exchange.

This condensed consolidated interim financial information is for the first half-year ended June 30, 2013. These interim financial statements are prepared in accordance with IAS 34 "Interim Financial Reporting", as adopted by the EU. The accounting policies used in the preparation of the interim financial statements are consistent with those used in the annual financial statements for the year ended December 31, 2012 except for the classification of currency result as set out in note 2.

This condensed consolidated interim financial information should be read in conjunction with the 2012 annual IFRS consolidated financial statements.

This condensed consolidated interim financial information has been reviewed by an independent auditor, not audited.

The policies have been consistently applied to all the periods presented.

Taxation is determined annually and, accordingly, the tax charge for the interim period involves making an estimate of the likely effective tax rate for the year. The calculation of the effective tax rate is based on an estimate of the tax charge or credit for the year expressed as a percentage of the expected accounting profit or loss. This percentage is then applied to the interim result, and the tax is recognized rateably over the year as a whole.

This condensed consolidated interim financial information has been prepared in accordance with those IFRS standards and IFRIC interpretations issued and effective or issued and early adopted as at 30 June 2013 which have been adopted by the European Union, as follows:

The new standards, amendments to standards and interpretations listed below reflect the endorsement status at 30 June 2013.

The following new standards, amendments to standards and interpretations are mandatory for the first time for the financial year beginning 1 January 2013:

• Amendments to IFRS 1 'First-time adoption of IFRSs' related to severe hyperinflation and the removal of fixed dates for first-time adopters. These amendments are effective on or after 1 January 2013.
• Amendments to IAS 12 'Deferred taxes', effective on or after 1 January 2013. The amendments provide a practical approach for measuring deferred tax liabilities and deferred tax assets when investment property is measured using the fair value model.
• Amendments to IAS 1 'Presentation of financial statements', effective for annual periods beginning on or after 1 July 2012. The amendment changes the disclosure of items presented in other comprehensive income (OCI) in the statement of comprehensive income.
• IAS 19 Revised 'Employee benefits', effective for annual periods beginning on or after 1 January 2013. Through these amendments significant changes are made to the recognition and measurement of defined benefit pension expense and termination benefits, and to the disclosures for all employee benefits.
• Amendments to IFRS 1 'First-time adoption of IFRSs' related to government loans, dealing with loans received from governments at a below market rate of interest, give first-time adopters of IFRSs relief from full retrospective application of IFRSs when accounting for these loans on transition. These amendments are effective for annual periods beginning on or after 1 January 2013.
• Amendments to IFRS 7 'Disclosures Offsetting financial assets and financial liabilities', effective for annual periods beginning on or after 1 January 2013. The amendment reflects the joint requirements with the FASB to enhance current offsetting disclosures. The new disclosures are intended to facilitate comparison between those entities that prepare IFRS financial statements to those that prepare financial statements in accordance with US GAAP.
• IFRS 13 'Fair value measurement', effective for annual periods beginning on or after 1 January 2013. The new standard explains how to measure fair value for financial reporting.
• IFRIC 20 'Stripping costs in the production phase of a surface mine', effective for annual periods beginning on or after 1 January 2013. IFRIC 20 sets out the accounting for overburden waste removal (stripping) costs in the production phase of a mine. The interpretation may require mining entities to write off existing stripping assets to opening retained earnings if the assets cannot be attributed to an identifiable component of an ore body.
• IASB publishes 'Annual improvements' with minor amendments to five standards for 2013 year ends including IFRS 1, 'First time adoption of IFRS', IAS 1, 'Presentation of financial

statements', IAS 16, 'Property, plant and equipment', IAS 32, 'Financial instruments: Presentation' and IAS 34, 'Interim financial reporting'.

The following new standards and amendments to standards have been issued and have been endorsed by the European Union, but are not mandatory for the first time for the financial year beginning 1 January 2013:

• IAS 27 Revised 'Separate financial statements', effective for annual periods beginning on or after 1 January 2014. The revised standard includes the provisions on separate financial statements that are left after the control provisions of IAS 27 have been included in the new IFRS 10.
• IAS 28 Revised 'Investments in associates and joint ventures', effective for annual periods beginning on or after 1 January 2014. The revised standard now includes the requirements for joint ventures, as well as associates, to be equity accounted following the issue of IFRS 11.
• IFRS 10 'Consolidated financial statements', effective for annual periods beginning on or after 1 January 2014. The new standard builds on existing principles by identifying the concept of control as the determining factor in whether an entity should be included within the consolidated financial statements.
• IFRS 11 'Joint arrangements', effective for annual periods beginning on or after 1 January 2014. The new standard focuses on the rights and obligations rather than the legal form. Proportional consolidation is no longer allowed.
• IFRS 12 'Disclosure of interests in other entities', effective for annual periods beginning on or after 1 January 2014. This is a new standard on disclosure requirements for all forms of interests in other entities.
• Amendments to IFRS 10 'Consolidated financial statements', IFRS 11 'Joint arrangements' and IFRS 12 'Disclosure of interests in other entities'. The amendments clarify the transition guidance in IFRS 10, and provide additional transition relief (for example by limiting the requirement to provide adjusted comparative information to only the preceding comparative period or, for disclosures related to unconsolidated structured entities, removing the requirement to present comparative information for periods before IFRS 12 is first applied). These amendments will be effective for annual periods beginning on or after 1 January 2014 which is aligned with the effective date of IFRS 10, 11 and 12.
• Amendments to IAS 32 'Offsetting financial assets and financial liabilities', effective for annual periods beginning on or after 1 January 2014. The amendments clarify some of the requirements for offsetting financial assets and financial liabilities on the statement of financial position.

The following new standard, amendments to standards and interpretation have been issued, but are not mandatory for the first time for the financial year beginning 1 January 2013 and have not been endorsed by the European Union:

• Amendments to IAS 36 'Impairment of assets', effective for periods beginning on or after 1 January 2014. The IASB made consequential amendments to the disclosure requirements of IAS 36 when it issued IFRS 13. One of the amendments was drafted more widely than intended. This limited scope amendment corrects this and introduces additional disclosures about fair value measurements when there has been impairment or a reversal of impairment.
• Amendments to IAS 39 'Financial instruments: Recognition and measurement', effective for annual periods beginning on or after 1 January 2014. These amendments provide relief from discontinuing hedge accounting when novation of a derivative designated as a hedging instrument meets certain criteria. Similar relief will be included in IFRS 9 'Financial instruments'.
• IFRS 9 'Financial instruments', effective for periods beginning on or after 1 January 2015. The standard addresses the classification, measurement and derecognition of financial assets and financial liabilities.
• Amendments to IFRS 10 'Consolidated financial statements', IFRS 12 'Disclosure of interests in other entities' and IAS 27 'Separate financial statements' for investment entities. Effective for annual periods beginning on or after 1 January 2014. The amendments give an exemption to entities that meet an 'investment entity' definition and which display certain characteristics to account for its subsidiaries at fair value.
• IFRIC 21 'Levies', effective for periods beginning on or after 1 January 2014. IFRIC 21 sets out the accounting for a liability to pay a levy if that liability is within the scope of IAS 37. It also addresses the accounting for a liability to pay a levy whose timing and amount is certain.

The Group is currently assessing the impact of the new requirements.

This condensed consolidated interim financial information is prepared under the historical cost convention, as modified by the revaluation of available-for-sale financial assets, and financial assets and financial liabilities (including derivative instruments) at fair value through profit or loss.

This condensed consolidated interim financial information is prepared on an accrual basis and on the assumption that the Group is a going concern and will continue in operation for the foreseeable future.

The preparation of the condensed consolidated interim financial information in accordance with IAS 34 requires management to make estimates and assumptions that affect the reported amounts of

revenue, expenses, assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements. The areas involving a higher degree of judgement or complexity, or areas where assumptions and estimates are significant to the consolidated financial statements are disclosed in the accounting policies.

Note 2 – Changes in accounting policies and other changes, and their impact on equity

There are no changes in the accounting policies compared with the accounting policies used in the preparation of the consolidated financial statements as per December 31, 2012 except for the classification of currency result:

Based on the prior accounting policy, the sales and purchase transactions in foreign currency were accounted for at spot rate. During year-end closing, the revaluation of the balance sheet positions and of the hedging contracts at closing rate resulted in a currency gain or loss that was recorded in the financial result. As a consequence, the gain or loss of FX hedging transactions designed to protect the margin on sales was not included in the operating profit.

In order to improve the classification of the result on transaction in foreign currency, the Audit Committee approved in November 2012 to change the presentation of currency result. Depending on the nature of the currency result, it is now recorded in operating or financial result.

The table below gives on overview of the impact of this change in classification on the different lines of the comprehensive income statement: As per June 2013, 0.1 million euro currency gain is classified in the operating result. In the comparable figures of 2012, 0.3 million euro currency loss is classified in operating result.

(in thousand of	June 2013	June 2013	June 2012	June 2012
euro)	New rules	Old rules	New rules	Old rules
Operating	10.464	10.330	8.642	8.970
result
Net financial	-810	-676	-1.094	-1.422
charges
Profit before	9.654	9.654	7.548	7.548
taxes

The significant accounting policies applied in the condensed interim financial statements are presented on pages 67 – 74 of the annual consolidated financial statements for the year ended December 31, 2012.

Note 3 – Segment reporting

The total laundry industry can be split up into Consumer, Commercial and Heavy Duty laundry. The JENSEN-GROUP entities serve end-customers in the Heavy Duty laundry segment. They follow the same process. The JENSEN-GROUP sells its products and services under the JENSENTM brand through own sales and service companies and independent distributors worldwide. In this way the JENSEN-GROUP operates only in one single segment.

The following table presents revenue and non-current asset information based on the Group's geographical areas:

(in thousand of euro)	Europe + CIS			America		Middle East, Far East and Australia		TOTAL OPERATIONS
	June 13	June 12	June 13	June 12	June 13	June 12	June 13	June 12
Revenue from external customers	78.416	83.761	23.321	16.834	21.796	14.951	123.533	115.546
Other segment information
Non-current assets	18.498	18.820	2.888	3.369	2.928	3.375	24.314	25.564

Note 4 - Cash flow statement

Cash, cash equivalent and bank overdrafts include the following for the purpose of the cash flow statement:

(in thousands of euro)	June 30 2013	June 30 2012
cash	5.694	5.208
bank overdrafts	-5.032	-7.201
Cash, cash equivalent and bank overdrafts at the end of the period	662	-1.993

The net cash flow from operating activities increased with 8.1 million euro because of higher profitability.

Last year, the net cash flow from discontinued operations and the net cash flow from investment activities included the re-classification of the building in Switzerland that was held for sale.

Note 5 – Commitments and contingencies

There are no major changes compared to December 31, 2012.

Note 6 – Scope of consolidation

There are no changes in the scope of consolidation as at the end of June 2013.

Note 7 – Related party transactions

The shareholders of the Group as per June 30, 2013 are:

JENSEN Invest:	51.48%
Petercam:	8.66%
Free float:	39.85%

There are no significant changes in compensation of key management.

Note 8 - Events after balance sheet date

The JENSEN-GROUP decided to expand its presence in Japan and incorporated JENSEN Japan Co on July 3, 2013.

On August 16, 2013 JENSEN-GROUP took over its Austrian distributor ÖWM. This transaction will not have a material impact on the financial statements of JENSEN-GROUP as most of the activities are already reflected in the consolidated Group results as distributors' sales.

To the Board of Directors Jensen-Group NV

Statutory auditor's report on review of condensed consolidated financial information for the period ended 30 June 2013

Introduction

We have reviewed the accompanying consolidated condensed statement of financial position of Jensen-Group NV and its subsidiaries as of 30 June 2013 and the related consolidated condensed statements of comprehensive income, changes in equity and cash flows for the six-month period then ended, as well as the explanatory notes. The board of directors is responsible for the preparation and presentation of this consolidated condensed financial information in accordance with IAS 34, as adopted by the European Union. Our responsibility is to express a conclusion on this consolidated condensed financial information based on our review.

Scope of Review

We conducted our review in accordance with International Standard on Review Engagements 2410, "Review of Interim Financial Information Performed by the Independent Auditor of the Entity." A review of interim financial information consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with International Standards on Auditing and, consequently, does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion.

Conclusion

Based on our review, nothing has come to our attention that causes us to believe that the accompanying consolidated condensed financial information is not prepared, in all material respects, in accordance with IAS 34, as adopted by the European Union.

Antwerp, 20 August 2013

PwC Bedrijfsrevisoren bcvba Represented by

Filip Lozie* Bedrijfsrevisor

*Filip Lozie BVBA Board Member, represented by its fixed representative, Filip Lozie