GJNasdaq CopenhagenSpecialty Industrial MachineryIFRS · DKK

GLUNZ & JENSEN HOLDING A/S

GLUNZ & JENSEN HOLDING A/S is a Danish holding company for Glunz & Jensen’s prepress equipment business, which designs and produces plate-making systems and related solutions for offset and flexo printing. The group serves a global printing supply chain with equipment, consumables, spare parts, and technical support, with core operations and production capabilities centered in Prešov, Slovakia.

Revenue144m DKK
+9.6 %y/y
Operating profit (EBIT)15.7m DKK
+98.8 %y/y
EBIT margin10.9%
+4.9 ppy/y
Net income8.5m DKK
+199.4 %y/y
Free cash flow4.3m DKK
−20.5 %y/y

Fiscal year 2025 · change from previous year

Development 2020–2025

050100150m DKK2020: 137 m DKK2020: EBIT 4.7 m DKK20202021: 147 m DKK2021: EBIT 18 m DKK20212022: 103 m DKK2022: EBIT 17 m DKK20222023: 143 m DKK2023: EBIT 8.6 m DKK20232024: 131 m DKK2024: EBIT 7.9 m DKK20242025: 144 m DKK2025: EBIT 16 m DKK202514416
RevenueOperating profit (EBIT)

Business

Share of revenue
Platemaking equipment55 %

Primary production equipment used to image, process, wash, dry, and finish printing plates.

Imaging and processing systems20 %

Inkjet imaging systems and lithographic processors used in prepress workflows.

Service and support10 %

Customer support, technical training, and installation-related services.

Spare and wear parts10 %

Replacement parts and wear components needed to maintain installed equipment.

Consumables5 %

Recurring consumable products used in operating plate-making systems.

Customers

The company sells to printing and prepress customers that need equipment to prepare plates for offset and flexographic printing. Its buyers include large printing technology groups, platemaking operations, and distributors that support the global prepress market. Demand is tied to installed-base replacement, workflow upgrades, and the need for reliable service and consumables over the life of the equipment.

Offset printing companies

Buy plate-making and processing systems for offset workflow preparation.

Flexographic printers

Buy flexo-oriented platemaking equipment and processing units.

Prepress service providers

Buy systems to produce printing plates for multiple end customers.

OEM and channel partners

Support global market reach and place equipment into end markets.

Installed-base customers

Buy spare parts, wear parts, consumables, and service to keep systems running.

Strategy

The company’s strategy is to strengthen its position in high-end prepress equipment and services by emphasizing innovation, product quality, and customer value. It also highlights improved trade profitability and more efficient manufacturing and procurement as ways to support competitiveness and make the business more resilient over time.

Innovation in prepress systemsMedium term

Technology leadership helps defend pricing and win replacement cycles in specialized equipment.

Service-led installed-base monetizationShort term

Parts, wear items, consumables, and support create recurring revenue around installed equipment.

Operational efficiencyMedium term

Manufacturing and procurement efficiency support competitiveness in a niche hardware market.

Geography

Glunz & Jensen markets its products globally through a worldwide network, while its R&D, supply chain, production, testing, and technical training facilities are in Prešov, Slovakia. The company is Danish in structure but has an international operating footprint, with sales dependent on print-industry demand across multiple regions.

Risks

The business is exposed to cyclical demand in printing and prepress, where capital spending can slow if customers delay equipment upgrades. It also faces execution risk tied to manufacturing complexity, supply chain reliability, and maintaining product quality in specialized industrial hardware.

Sorted by severity
LowMediumHighLowMediumHighImpact →Likelihood →Cyclical end-market demand1Supply chain disruption2FX and geographic exposure3Product quality and performance4
Impact is the risk’s severity and likelihood how probable it is over the next few years, both assessed from the company’s reports. Numbers match the list.
  1. Cyclical end-market demandImpact: HighLikelihood: Medium

    Printing and prepress customers may delay equipment purchases during weaker spending cycles.

    Exposure: Capital equipment sales and replacements

  2. Supply chain disruptionImpact: HighLikelihood: Medium

    The business depends on sourcing components and moving them through a cross-border manufacturing setup.

    Exposure: Procurement and production continuity

  3. FX and geographic exposureImpact: MediumLikelihood: High

    Global sales and manufacturing across countries create currency and logistics exposure.

    Exposure: Revenue translation and cost base

  4. Product quality and performanceImpact: MediumLikelihood: Medium

    Industrial customers expect reliable equipment; defects can hurt reputation and warranty costs.

    ExposureEquipment salesService obligationsCustomer retention

Accounting

Judgemental items
Revenue recognition

Equipment sales, spare parts, consumables, and support may be recognized differently under contract terms.

Impact: Affects revenue timing and quarterly comparability

Inventory valuation

Specialized parts and finished goods may require write-downs if demand slows or products become obsolete.

Impact: Affects gross profit and working capital

Warranty and provisions

Industrial equipment can carry repair or replacement obligations that require estimation.

Impact: Affects expenses and liabilities

Lease and property accounting

The group references leased and refurbished property, which can affect balance-sheet and depreciation treatment.

Impact: Affects assets, depreciation, and lease liabilities

Publicly listed companies with a comparable business focus.

Last updated: 24/10/2026