Koninklijke Ten Cate NV

amsterdam : KTC


April 26, 2013 02:17 ET

Koninklijke Ten Cate NV : TenCate Defender™ M revenue shows strong growth

ALMELO, THE NETHERLANDS--(Marketwired - Apr 26, 2013) -


TenCate trading update for the first quarter of 2013

Revenue and operating result

+---------------------+--------------------+-------------------+----------+
| x EUR 1 million     | First quarter 2013 | First quarter 2012|Change (%)|
+---------------------+--------------------+-------------------+----------+
| Net revenue         |              241.8 |              256.7|       -6%|
+---------------------+--------------------+-------------------+----------+
| EBITA               |               12.5 |               13.2|       -5%|
+---------------------+--------------------+-------------------+----------+
| Net profit          |                4.6 |                5.1|      -10%|
+---------------------+--------------------+-------------------+----------+
| Operating cash flow |               13.0 |               10.0|      +30%|
+---------------------+--------------------+-------------------+----------+

Ten Cate's activities recovered in the first quarter in line with expectations. The synthetic turf activities in particular posted a good performance and revenue from TenCate Defender™ M grew strongly. The cost measures and efficiency improvements implemented in 2012 led among other things to improvements in gross margin and working capital. The debt position before acquisitions decreased by EUR6 million compared to the end of December 2012. Operating cash flow increased strongly.

Advanced Textiles & Composites sector Revenue from TenCate Defender™ M in the United States was above expectations in the first quarter of 2013 but lower than in the relatively strong first quarter of 2012. Revenue in the defence market outside the United States continued to rise.

The revenue trend in the US defence market was increasingly offset by the growth of the TenCate Tecasafe™ Plus portfolio in the worldwide industrial market.

Revenue in the composites group in the United States developed in line with growth expectations. Revenue in Europe lagged behind expectations due to delays in deliveries to suppliers for the Airbus A350.

The market potential for armour composites improved, in view of the number of outstanding tenders. Defence budgets nevertheless remain under pressure.

The EBITA of the Advanced Textiles & Composites sector decreased compared to the first quarter of 2012.

Geosynthetics & Grass sector TenCate Geosynthetics experienced a slow start to the year due to delays in projects caused by the persistent winter weather in Europe and the United States.

TenCate Grass recorded a good performance, with earlier cost measures making a positive contribution. Demand for special (engineered) grass fibres and 3D-woven pitches based on matrix technology grew strongly.

The EBITA of the Geosynthetics & Grass sector increased substantially.

Royal Ten Cate

Almelo, the Netherlands, Friday, 26 April 2013

Note for editors

Royal Ten Cate (TenCate) is a multinational company that combines textile technology with chemical processes and material technology in the development and production of functional materials with distinctive characteristics. TenCate products are sold throughout the world. TenCate systems and materials fall into four areas: safety and protection; aerospace; infrastructure and the environment; sport and recreation. TenCate occupies leading positions in protective fabrics, aerospace composites, antiballistics, geosynthetics and synthetic turf. TenCate is listed on NYSE Euronext (AMX).

Press release as PDF:

http://hugin.info/130798/R/1696695/558907.pdf

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Source: Koninklijke Ten Cate NV via Thomson Reuters ONE

[HUG#1696695]

Contact Information

  • For further information:

    Pieter Zwinkels
    Investor Relations Manager
    Telephone: +31 546 544 318
    Mobile: +31 610 886 338
    E-mail: Email Contact
    Internet: www.tencate.com