JENSEN-GROUP reports high activity during first quarter

Revenue during Q1 was 74.1 million euro, 34.2% higher compared to the same period in 2014. The weakness of the euro resulted in a significant positive effect on sales outside the euro zone. However, it does not read through in margin due to our forward exchange cover, moreover the same currency movement also results in non-euro overhead costs translating to higher amounts in euro.

The order backlog at the end of March 2015 was 12.6% higher than at the end of March 2014. Taking into account the equipment already produced by the end of the first quarter, the order backlog is 3% lower than last year.

Based on the above, JENSEN-GROUP expects a first half-year revenue to be higher than that of last year. However taking into account the translation impact explained above, the Group expects profitability to be in line with first half year of 2014. As in previous years, the Group does not provide full year guidance. The most important risk factors remain rapid changes in demand, availability of financing to our customers, high exchange rate volatility and fluctuating raw material, energy and transport prices.