Trading update 1st quarter 2017

Revenue during Q1 was 82.5 million euro, 3.2% higher compared to the same period in 2016.

The order backlog at the end of March 2017 was 28.0% higher than at the end of March 2016. Taking into account the equipment already produced by the end of the first quarter, the production backlog is 24.5% higher than last year. Management estimates that approximately 19.8% of this production backlog relates to sales in 2018 and later.

Based on the above, JENSEN-GROUP expects a first half-year revenue to be higher than last year. The intense competition on large projects and costs associated with the investments in capacity expansion, new products and the sales force impact our profitability. 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.