JENSEN-GROUP - KBC Securities Company Note 14-11-2018 - Going Flat Out JEN BB
We currently see three longer-term trends favouring laundry businesses that will result in more laundry and more laundry automation: 1) growth in laundry from a) higher spending on healthcare services b) more travelling and c) more tourism; 2) an increase in laundry automation from smaller workforces working fewer hours at higher average wages; and 3) more cleantech from a) water scarcity and b) higher energy costs. New € 42.5 target price. BUYJensen-Group and its subsidiaries are engaged in heavy-duty laundry activities. Through its Heavy-Duty Laundry Division, Co. supplies textile and garment services to textile rental operations, commercial laundries, on premise laundries for hotels, hotel chains, etc. and institutional laundries and central laundries. Under this division, Co. also operates a separate business unit serving the confectionery textile industry, marketing specialized folding equipment for finished products. Co.'s products include open-pocket washer extractors, split pocket washer extractors, continuous batch washers, batch transfer drying tumblers and flatwork ironers.
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