Earnings Release • Nov 17, 2011
Earnings Release
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Under Embargo until 17/11/2011 17.45 CET Regulated information
Trading update 3rd quarter 2011
Revenues during Q3 stand alone were 47,7 mio euro, 4,3% below the comparable number for the same period of 2010.
Year-to-date revenues amount to 164,9 mio euro versus 171,4 mio euro in 2010; 3,7% below the comparable number for the same period of 2010.
This years' profit will be negatively affected by the costs associated with planned strategic investments, overruns on projects and product development.
The consultation procedure, as required by law, related to the consolidation of the Swiss production into the Danish manufacturing facility has been finalized. The Board of Directors has analysed the different proposals and has decided to transfer the Swiss production into the Danish plant. Management estimates the charge to EBIT of current year to be between 2.5 to 3.0 MEUR.
The current order backlog at the end of September 2011 is 42% above the level as at the end of September 2010. Management estimates that major part of this backlog will not be reflected in the 2011 results and carried over to 2012.
At its meeting held on November 3, 2009, the Board of Directors approved the purchase of 36.874 shares of the Company that were held by Baillie Gifford and offered for sale. The buyback was completed through the use of an investment bank, acting as intermediary, at a price per share of 6,9 euro at the Euronext stock exchange. As a result of this transaction, JENSEN-GROUP currently holds 36.874 treasury shares.
November 30, 2011: Extra Ordinary Shareholders' meeting March 2012: publication 2011 figures.
The JENSEN-GROUP assists heavy-duty laundries worldwide to provide quality textile services economically. We have become the preferred supplier in the laundry industry by leveraging our broad laundry expertise to design and supply sustainable single machines, systems and integrated solutions. We are continuously growing by extending our offer and by developing environmental friendly and innovative products and services that address specific customer needs. Our success results from combining our global skills with our local presence. The JENSEN-GROUP has operations in 12 countries and has distribution in more than 50 countries. Worldwide, the JENSEN-GROUP employs about 1.100 employees.
This press release is also available on the corporate website www.jensen-group.com. (End of press release)
Note to the editors: for more information, please contact: Jensen-Group: Jesper Munch Jensen, Chief Executive Officer Markus Schalch, Chief Financial Officer Scarlet Janssens, Investor Relations Manager Tel. +32.9.333.83.30 E-mail : [email protected].
Under Embargo until 17/11/2011 17.45 CET Regulated information
Trading update 3rd quarter 2011
Revenues during Q3 stand alone were 47,7 mio euro, 4,3% below the comparable number for the same period of 2010.
Year-to-date revenues amount to 164,9 mio euro versus 171,4 mio euro in 2010; 3,7% below the comparable number for the same period of 2010.
This years' profit will be negatively affected by the costs associated with planned strategic investments, overruns on projects and product development.
The consultation procedure, as required by law, related to the consolidation of the Swiss production into the Danish manufacturing facility has been finalized. The Board of Directors has analysed the different proposals and has decided to transfer the Swiss production into the Danish plant. Management estimates the charge to EBIT of current year to be between 2.5 to 3.0 MEUR.
The current order backlog at the end of September 2011 is 42% above the level as at the end of September 2010. Management estimates that major part of this backlog will not be reflected in the 2011 results and carried over to 2012.
At its meeting held on November 3, 2009, the Board of Directors approved the purchase of 36.874 shares of the Company that were held by Baillie Gifford and offered for sale. The buyback was completed through the use of an investment bank, acting as intermediary, at a price per share of 6,9 euro at the Euronext stock exchange. As a result of this transaction, JENSEN-GROUP currently holds 36.874 treasury shares.
November 30, 2011: Extra Ordinary Shareholders' meeting March 2012: publication 2011 figures.
The JENSEN-GROUP assists heavy-duty laundries worldwide to provide quality textile services economically. We have become the preferred supplier in the laundry industry by leveraging our broad laundry expertise to design and supply sustainable single machines, systems and integrated solutions. We are continuously growing by extending our offer and by developing environmental friendly and innovative products and services that address specific customer needs. Our success results from combining our global skills with our local presence. The JENSEN-GROUP has operations in 12 countries and has distribution in more than 50 countries. Worldwide, the JENSEN-GROUP employs about 1.100 employees.
This press release is also available on the corporate website www.jensen-group.com. (End of press release)
Note to the editors: for more information, please contact: Jensen-Group: Jesper Munch Jensen, Chief Executive Officer Markus Schalch, Chief Financial Officer Scarlet Janssens, Investor Relations Manager Tel. +32.9.333.83.30 E-mail : [email protected].
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