Jensen Group announces good financial performance in the first quarter of 2018

Jensen-Group Reports 2020 Revenues: 26% Decrease Compared to 2019

The Jensen-Group has reported a revenue of 245.2 million Euro for 2020. Due to the impact of Covid-19, the revenue decreased with 26.2% from 332.2 million euro in 2019. The operating profit (EBIT) amounts to 12.8 million euro, which is 44.4% lower than the previous year, while cash flow from operations (EBITDA) amounts to 19.8 million euro, a 36.3% decrease compared to 2019. . As a consequence of the Covid-19 crisis, Jensen experienced a significant slow-down in order intake as well as several project cancellations and postponements of confirmed orders.

The group expects capital expenditure in 2021 to be significantly higher than in 2020 and will invest primarily in a 40% increase in the shareholding in  Inwatec ApS, Denmark, after having  purchased 30% in 2018. Inwatec ApS announced a net income of 2.7 million Euro in 2020.