News

  • TenCate trading update for the first quarter of 2015


    Key figures
    in millions of Euros
    First quarter
    2015
    First quarter
    2014
    Revenues 267.7 223.3
    Organic revenue growth + 9% − 6%
    EBITA 9.8 5.5
    Net interest-bearing debt 235.6 209.4
    Debt ratio, Net debt / EBITDA 2.69 2.80

    TenCate recorded a 20% increase in revenues in the first quarter of 2015. On an organic basis, adjusted in part for the higher dollar exchange rate, revenue growth was 9%. The strong revenue growth in the fourth quarter of 2014 relating to composite materials and synthetic turf continued in the first quarter of 2015. Higher sales of TenCate Defender™ M and synthetic turf drove the improvement in margins and earnings. An earnings recovery at TenCate Advanced Armour has not yet materialised.

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  • TenCate shareholders approve 2014 dividend of € 0.50 per share

    During the Annual General Meeting of Shareholders of Royal Ten Cate, which was held on Thursday 9 April 2015, the dividend for the 2014 financial year was declared at € 0.50 (2013: € 0.50) per ordinary share of € 2.50 par value. 

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  • TenCate Cetex® thermoplastic composite for AstroMesh® deployable mesh reflector on NASA SMAP spacecraft

    Northrop

    TenCate Advanced Composites, a leading developer and manufacturer of advanced composite materials, provides Northrop Grumman’s Astro Aerospace to utilize TenCate Cetex® thermoplastic composites for the AstroMesh® deployable mesh reflector on the NASA Soil Moisture Active Passive spacecraft. This reflector uses TenCate Cetex® to achieve parabolic shape design, strength, durability, and weight savings.  

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  • TenCate presents high-grade composite solutions at JEC Europe 2015

    JEC 2015

    TenCate Advanced Composites, a leading developer and manufacturer of advanced composite materials, will be highlighting their latest material innovations and technologies for aerospace, automotive and industrial markets during the JEC Europe 2015 exhibition in Paris, France, between 10 and12 March 2015. TenCate will launch several new high-grade products and will showcase a range of customer applications that utilize advanced composites of TenCate.

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  • General Meeting of Shareholders

    Koninklijke Ten Cate N.V. (‘Royal Ten Cate’), having its registered office in Almelo

    Shareholders of Royal Ten Cate and other persons entitled to vote are invited to attend the Annual General Meeting of Shareholders to be held from 2pm on Thursday 9 April 2015, in the Polman Stadium, Stadionlaan 1, Almelo.

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  • TenCate records 4% organic revenue growth in 2014

    Impairment of € 82 million, mainly at TenCate Advanced Armour

    • Organic revenue growth of 4% for the full year 2014; 9% in the second half of 2014
    • Growth in composites, synthetic turf yarns and industrial protective fabrics
    • Expected increase in defense revenues failed to materialise as a result of postponed deliveries of armour orders (vehicle armour)
    • Downward pressure on results due to a substantial operating loss at TenCate Advanced Armour, to lower margins at TenCate Geosynthetics and to increased marketing costs
    • EBITA* € 53.3 million (2013: € 54.4 million); EBITA margin* 5.1% (2013: 5.4%)
    • Net profit before exceptional items € 24.1 million (2013: € 23.2 million)
    • Net result (IFRS) – € 45.7 million (2013: € 19.0 million) as a result of exceptional items, impairments at TenCate Advanced Armour and Xennia Technology
    • Positive cash flow of € 1.9 million (2013: € 42.6 million); increase in working capital as a result of strong revenue growth in the fourth quarter due in part to continuing demand for synthetic turf yarns
    • Net debt € 215.5 million (2013: € 188.3 million)
    • Net debt / EBITDA ratio 2.57 (2013: 2.27)
    • TenCate expects 2015 organic growth in revenues similar to that in 2014
    • Dividend proposal unchanged at € 0.50 per share (optional stock dividend)

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  • TenCate decides to record an impairment charge

    TenCate Advanced Armour

    Ahead of the publication of its 2014 annual results on Friday, 20 February 2015, and based on preliminary data, TenCate has decided to record a (non-cash) impairment charge against goodwill as well as tangible and intangible fixed assets, mainly in TenCate Advanced Armour, for an amount of approximately € 82 million pre-tax.

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  • TenCate to supply digitally printed tent cloth to camping tour operators

    voorkant-bloemen-tent.jpg

    TenCate Outdoor Fabrics is to supply Rent-a-Tent - as the first camping tour operator -  with digitally printed tent cloth for bungalow tents that will be rented to camping enthusiasts across Europe. At the Camping by Night event during the 2015 Vakantiebeurs (Holiday Trade Fair), which is being held this week in Utrecht (NL), consumers can already become acquainted with more colour for characterful camping. Digital printing techniques make it possible to create a specific camping atmosphere at camp sites and glamping locations both in the Netherlands and abroad.

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  • TenCate agrees to sell TenCate Enbi

    ENBI Transfer Rollers

    Royal Ten Cate (TenCate) has reached an agreement with Platinum Equity, a US-based private equity investor, regarding the sale of TenCate Enbi. The transaction is expected to close in the first half of 2015. The divestment will be valued at an amount close to book value. No further financial detail will be provided.

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  • TenCate Advanced Composites signs long term supply agreement with Kestrel Aircraft for new all composite turboprop Kestrel K-350

    Kestrel K-350

    TenCate Advanced Composites North America, a leading global composite materials company for space and aerospace applications, have signed a long term composite materials supply agreement with Kestrel Aircraft, headquartered in Superior (Wisconsin), United States of America. The new all composite turboprop Kestrel K-350 will utilize the latest TC275-1 epoxy prepreg system of TenCate. The TC275-1 system features superior hot/wet strength retention, the ability to cure at either 275°F or 350°F, and can be processed with a free standing post cure for higher temperature performance. Financial details will not be provided.

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Blue fabric (Tecawork Blue 65287)