Jensen-Group 1Q24 revenues were up y/y 11.6% to € 109.1m. The 1Q24 order intake increased y/y 34.4% to €114.9m. As a result Jensen-Group called this “a good start to 2024”. 1Q24 EBIT came in at € 11.2m (€ 11.4m in 1Q23) resulting in 10.3% 1Q24 EBIT-margin (11.7% in 1Q23). 1Q24 net result amounted to € 11.1m (€ 1.15 EPS). We maintain for the moment our Accumulate rating and € 40 Target Price as these numbers are ahead of our FY24 forecasts of 8.8% FY24E sales growth and 9.5% FY24E EBIT-margin. ...
For Jensen-Group, we saw in 1H23 record high first half revenue (+20.7% y/y) leading to significant profit growth (11.9% EBITDA-margin, 10% EBIT-margin) and despite that Jensen-Group expects revenue growth in 2H23 to be more modest than in 1H23, we increased our FY23 numbers. We maintain our Accumulate and increase our Target Price to € 40, in line with our updated DCF-valuation.
We publish a Company Note on Jensen-Group titled “Automating all processes in the laundry” in which we increase our TP to € 35.0 (was € 33.0) and maintain our Accumulate rating as Jensen-Group received € 345m orders in FY21, a very nice 54% increase over last year’s order intake and the second highest order intake in its history thanks to a very strong 4Q21. The hospitality and hotel sector (40% of Jensen-Group’s sales) are recovering slowly from the adverse conditions since Covid-19. But, afte...
AKKA: FY21 REBIT beating our estimates by 14% Atenor: FY21 – Approvals pick up Biotalys: Bringing next generation of Evoca to market in 2026 Brederode: Strong FY21 results driven by PE boost GBL: FY21 NAV of € 143.9 ps, up 13.3% y/y Immobel: FY21 Results – Wide range outlook Jensen-Group: Strong growth in profitability and efficiency
ABN Amro: 2Q21: strong support from incidentals & releases Aedifica: 1HY21 results as expected Ageas: One-offs at Asia drag down strong underlying result Ahold Delhaize: 2Q21: beat and guidance upgrade Avantium: 1H results: no green light yet on FDCA plant Jensen-Group: Able to weather the storm
Full Article at IIR has reaffirmed its Recommended rating for PIA after undertaking a review post the appointment of a new Portfolio Manager, Harding Loevner. The full report can be found on the IIR website. On 26 July 2021, Pengana International Equities Limited (PIA) announced a fully franked dividend of 1.35 cents per share for the June quarter. This represents an 8% increase on the March quarter dividend and takes the total dividends declared for FY21 of 5.1 cents per share, fully franked....
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