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Annual results 2019

Income Statement
Consolidated, audited key figures      
        Dec 31, 2019 Dec 31, 2018 Change
(million euro)       12M 12M  
Revenue       332.2 343.8 -3.4%
Operating result (EBIT)       23.0 26.9 -14.6%
Cash flow from operations (EBITDA) 1       31.2 33.5 -6.8%
Financial result       -2.5 -1.3 86.7%
Profit before taxes       20.5 25.6 -19.8%
Income tax expense       -5.1 -7.6 -32.1%
Profit from the period from the continuing operations       15.4 18.0 -14.7%
Result from assets held for sale       -0.1 -0.1 -7.8%

Share in result of associates and joint ventures accounted for using the equity method

      -0.2 0.9 -126,5%
Result attributable to Non Controlling Interest       -0.7 -0.3 103.7%

Consolidated result attributable to equity holders (Group share in the profit)

      15.7 19.1 -17.8%
Net cash flow 2       23.9 25.7 -6.9%
             
Balance sheet      
Consolidated, audited key figures      
        Dec 31, 2019 Dec 31, 2018 Change
(million euro)       12M 12M  
Equity       132.4 126.0 5.1%

Net financial debt (+)/Net cash (-) 3

      4.4 -5.4 -181.5%
Assets held for sale       0.4 0.4 1.8%
Total assets       276.7 255.7 8.2%
             
Consolidated, audited key figures per share      
        Dec 31, 2019 Dec 31, 2018 Change
(euro)       12M 12M  

Cash flow from operations (EBITDA) 1

      3.99 4.29 -7.0%
Profit before taxes       2.62 3.27 -19.9%

Consolidated result attributable to equity holders (EPS)

      2.01 2.44 -17.6%
Net cash flow 2       3.06 3.29 -7.0%
Equity       16.93 16.11 5.1%
Number of shares (end of period)       7'818'999 7'818'999  
Number of shares (average)       7'818'999 7'818'999  

 

1 EBITDA (Earnings before Interest, Taxes, Depreciation and amortization) = Operating profit (EBIT) + Depreciation, amortization, write downs on trade receivables, write downs on inventory, changes in provisions
The JENSEN-GROUP adjusted the definition of EBITDA in order to further improve transparency: in last years, the movement in the related balance sheet accounts was used for the changes in provision. As from 2019 onwards the JENSEN-GROUP uses the amount in P&L. The 2018 ratio is restated accordingly. In 2018, the EBITDA disclosed amounted to 33,525 thousand euro, restated the EBITDA for the same period amounts to 31,823 thousand of euro.

2 Net cash flow = Consolidated result attributable to the equity holders + Depreciation, amortization, write downs on trade receivables, write downs on inventory, changes in provisions

Net financial debt (+)/Net cash (-)= Borrowings (Non-current and current) – Cash and cash equivalent