Jensen Industrial Group A/S

The Company's principal activities JENSEN Industrial Group A/S is an intermediate holding company in the JENSEN-GROUP N.V. in Belgium. The principal activity of the subsidiaries in the JENSEN Industrial Group was like in previous years that of production, development, and sale of machinery to industrial laundries and the textile industry, including wholly or partially owned companies having those activities. Development in activities and the financial situation The company’s development resources are used to align the company’s main products to the needs in the market. The result for the year compared to the expected development The Profit from ordinary operating activities of the company amounted to 106.1 million DKK in 2022, compared to 68.6 million DKK in 2021 the management finds satisfactory and in agreement with the expectations described in the Annual Report for 2021. The subsidiaries were hit by material shortage and price increases driven among other of the close downs in China due to the pandemic, global logistic challenges with subsequent increasing freight rates and the war in Ukraine. Though they experience a record high order intake in 2022. The 2022 results show that the subsidiaries can grow despite considerable setbacks in the supply chains, as they continue to navigate successfully through rapidly changing environments. Significant events after the end of the financial year JENSEN industrial Group's subsidiaries continue to have high order intake. The investment climate has improved, though not fully normalized yet. Financial risk Significant uncertainties with consequence for the operating result are developments in the market and developments in exchange rates (Euro and USD). Environmental situation In cooperation with local environmental authorities, efforts are made to reduce any environmental nuisance for the company's surroundings. The company does not have unresolved environmental conditions in relation to regulatory approvals. Future expectations The material shortage situation has improved and with the high order intake, the management are confident that the company will come out of these challenges with a profit of +50 MDKK in 2023, provided the positive trends continues.

Development in activities and the financial situation The company’s development resources are used to align the company’s main products to the needs in the market.