High revenue growth, strong net profit despite supply chain disruptions and soaring inflation.

Performance 2022

• Revenue increased from 259.7 million euro in 2021 to 341.6 million euro in 2022, an increase of 31.5%. This is the result of a higher order backlog at the end of 2021 and a continuous strong order intake during 2022.
• The Group received orders for 364.4 million euro in 2022, a 6% increase compared to previous year and the highest order intake in its history. This rise in order intake was also influenced by the announcement of a second price increase, effective as from 1st of July 2022.
• For both revenues and new orders, the JENSEN-GROUP is back at pre-Covid-19 activity levels, earlier than anticipated.
• Operating profit (EBIT) amounted to 22.4 million euro in 2022 compared to 21.3 million euro in 2021, an increase of 5.1%, which is the result of:
  • The positive impact of higher revenues as well as lower organizational costs due to the measures taken by the Group in the previous years to structurally decrease the cost base.
  • The negative impact of supply chain disruptions, resulting in lower operational efficiency as well as higher than anticipated cost increases from suppliers.
• Cash flow from operations (EBITDA) amounts to 26.2 million euro in 2022, a 15% decrease compared to last year. EBITDA is lower in 2022 versus 2021 as restructuring provisions for an amount of 2.2 million euro recorded in 2021, have been effectively incurred as cash expenses in 2022.
• Total net finance cost amounts to 1.9 million euro and relates to interest charges (1.1 million euro), net currency charges (0.1 million euro) and other financial charges (0.7 million euro).
• Result of companies (TOLON) accounted for by the equity method, increased from 0.5 million euro to 1.0 million euro.
• Net profit attributable to the shareholders amounts to 16.3 million euro (Earnings per Share of 2.10 euro) compared to 14.6 million euro last year (Earnings per Share of 1.86 euro).
• The Group reports a net financial cash of 11.5 million euro compared to 41.0 million euro at year-end 2021. The decrease in net cash is mainly caused by higher working capital, negatively affected by the industry-wide increase in material prices as well as higher work-in-progress due to components scarcity.
• The Board proposes to members of the Annual Shareholders’ meeting to approve a dividend of 0.50 euro per share.
• Subject to approval at the Annual Shareholders' meeting of May 16 ,2023, the share will trade ex-coupon as of May 24, 2023 and the dividend will be payable as from May 26, 2023 at the counters of KBC bank upon presentation of coupon n°17.