Earnings Release • May 14, 2018
Earnings Release
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Under Embargo until 14/05/2018 17.40 CET Regulated information
Press Release Trading update 1st quarter 2018
Revenue during Q1 was 86.0 million euro, 4.2% higher compared to the same period in 2017.
The order backlog at the end of March 2018 was 6.0% lower than at the end of March 2017. Excluding orders that will not be delivered in 2018 and considering the finished goods and work in progress, production backlog is 32,7% lower than as at March 2017.
Based on the above, JENSEN-GROUP expects a first half-year revenue to be lower than last year primary due to a slowdown in large projects caused by consolidation of major customers. As in previous years, the Group does not provide full year guidance. The most important risk factors remain uncertain political climate, rapid changes in demand, availability of financing to our customers, high exchange rate volatility and fluctuating raw material, energy and transport prices.
On January 2, 2018 JENSEN-GROUP acquired a participation of 30% in Inwatec, ApS, a Danish company that manufactures high-end heavy-duty laundry products. JENSEN-GROUP has the option to increase its shareholding from 2020-2023. This investment in laundry robotics and AI (Artificial Intelligence) confirms the Group's vision to automate all processes in the laundry.
0n April 10, 2018, the JENSEN-GROUP increased its shareholding in TOLON GLOBAL MAKINA Sanyi Ve Tikaret Sirketi A.S., Turkey, by 6.33% to 42.66%. The JENSEN-GROUP has the option to acquire up to 49% of the shares within a period of three years.
| Financial information | ||||
|---|---|---|---|---|
| In MEUR | 2018 | 2017 | ||
| Revenue Q1 | 86.0 | 82.5 | ||
Based on the excellent result of 2017 and the financial position at 2017 closing, the Board proposes to the Annual Shareholders' meeting to approve a dividend of 1.00 euro per share. Subject to approval by the Annual Shareholders' meeting of May 15, 2018, the share will trade ex-coupon as of May 29, 2018 and the dividend will be payable as from May 31, 2018 at the counters of KBC bank upon presentation of coupon n°13.
The JENSEN-GROUP assists heavy-duty laundries worldwide to provide quality textile services economically. We have become a preferred supplier in the laundry industry by leveraging our broad laundry expertise to design and supply sustainable single machines, systems and integrated solutions. We are continuously growing by extending our offer and by developing environmental friendly and innovative products and services that address specific customer needs. Our success results from combining our global skills with our local presence. The JENSEN-GROUP has operations in 24 countries and has distribution in more than 40 countries. Worldwide, JENSEN-GROUP employs about 1,745 employees.
This press release is also available on the corporate website www.jensengroup.com.
(End of press release) 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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