The Jensen-Group reported an ongoing healthy performance in the first quarter of 2018, with revenue rising to 86.0 million euro, a 4.2% increase compared with the corresponding period of last year. However, the group now expects half-year revenue be lower than last year primarily due to a slowdown in large projects caused by consolidation of major customers.
The order backlog at the end of March 2018 was 6.0% lower than at the end of March 2017. Excluding orders that will not be delivered in 2018 and considering the finished goods and work in progress, production backlog is 32.7% lower than as at March 2017, according to the company’s press statement on 14 May.
This year has seen important investments. On January 2, 2018 Jensen acquired 30% share in Inwatec, a Danish company that manufactures high-end heavy-duty laundry products. JENSEN-GROUP has the option to increase its shareholding from 2020-2023. This investment in laundry robotics and AI (Artificial Intelligence) confirms the Group’s vision to automate all processes in the laundry.
0n 10 April, Jensen increased its shareholding in Tolon Global Makina of Turkey, by 6.33% to 42.66%. The group has the option to acquire up to 49% of the shares within a period of three years.