DENMARK
The JENSEN-GROUP has reported that revenue for the full year 2019 amounted to 332.2 million euro compared to 343.8 million euro last year. Many smaller orders with fast deliveries could not fully compensate the decrease of large projects. The company also expects a slow-down in activities due to the spread of Covid-19 in several countries, it said in a further press release. A close monitoring process for orders is in place to assess the consequences of order postponements.
On Covid-19, Jensen said it is unable to assess for the moment the duration of the Covid-19 crisis and therefore cannot estimate the impact on its performance. "This slow-down will have a significant impact on the revenue and on the profitability of the Company in 2020. The Jensen-Group makes every effort to ensure the maximum possible business continuity and to continue production where possible in order to guarantee expected delivery dates."
The annual report, which can be found on the group’s website, shows that in 2019, the Jensen-Group received 326.3 million euro orders, 1.4% above 2018. "We are prudent in our outlook because we are unable to assess today the impact of the Corona virus on the various markets. The volume of projects in the markets is still good and a close monitoring process for orders and capacity needs is in place. The main business risks have not changed materially from last year. Major risk factors are the volatility in the financial markets affecting our customers’ investment decisions and their capacity to find financing, competitive pressure, political instability and uncertainty in certain parts of the world. The Group does not expect a significant impact from the Brexit. The potential impact of the Corona virus and the possible protectionist movements in various parts of the world cannot be assessed today. Other risks that mainly affect our margin are exchange rate volatility and fluctuating raw material prices, energy and transportation costs."
More can be found at https://www.jensen-group.com/investor-relations/press-releases.html
