News

• TenCate supplies compression molded parts to Bell 525 Relentless helicopter program

  

  TenCate Advanced Composites, a leading supplier of advanced composite materials for aerospace and industrial applications, has begun production of compression molded parts for the Bell 525 Relentless helicopter program. On July 1st, this program achieved its first flight. At the current time, there are approximately a dozen parts per aircraft in applications ranging from access doors to engine compartment walls.

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• TenCate records 5% organic sales growth with net profit sharply higher at € 19.3 million

  • Organic sales growth 5% in the first half year of 2015; 2% in the second quarter of 2015
  • Total sales growth 15% in the first half of 2015; 11% in the second quarter of 2015
  • Net Profit before exceptional items € 19.3 million (2014 H1: € 10.0 million)
  • Continuing growth in synthetic turf, TenCate Defender® M and aerospace composites
  • Organic sales decrease at TenCate Geosynthetics and TenCate Advanced Armour
  • Margin improvement from high occupancy and higher gross margins in synthetic turf and from growth in high-margin product categories
  • EBITA* € 33.1 million (2014 H1: € 24.3 million)
  • EBITA margin* 5.8% (2014 H1: 4.9%), second quarter 7.7% (2014 Q2: 6.9%)
  • Restructuring charges TenCate Advanced Armor USA € 1.8 million
  • Divestment of TenCate Enbi and Xennia Technology 
  • Net debt € 224.3 million (2014 H1: € 213.4 million)
  • Net debt / EBITDA ratio 2.63 (2014 H1: 2.87)

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• GILDE BUY OUT PARTNERS LEADS CONSORTIUM TO MAKE A RECOMMENDED CASH OFFER FOR ALL SHARES OF TENCATE

  Almelo/Utrecht, 20 July 2015 – Royal Ten Cate N.V. and Tennessee Acquisition B.V., a company controlled by a consortium of investors led by Gilde Buy Out Partners and also including Parcom Capital and ABN Amro Participaties, today jointly announce that they have reached conditional agreement on an intended recommended full public offer for TenCate of EUR 24.60 (cum dividend) in cash per ordinary share of TenCate, subject to customary conditions (the “Offer”). The Offer Price represents a premium of 26.8% to the closing price of 17 July 2015, and a premium of 27.1% to the average closing price for the 12 months prior to and including that date.

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• New: txtures summer 2015

  The 2015 summer edition of txtures is now available.

  A low-res PDF and summaries of most of the articles can be read here.

  Printed copies can be ordered via royal@tencate.com and +31 546 544 911.

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• TenCate introduces military combat fabrics for firefighter turnout gear

  

  TenCate Protective Fabrics in Europe is launching new thermal barrier and liner fabrics for use in firefighting turnout gear, based on the TenCate Defender™ M flame-resistant fabrics already used for military combat uniforms. These new fabrics for firefighter turnout gear use TenCate Coolderm™ technology to provide better insulation and protection from heat while offering an evaporative cooling effect to keep the skin cooler and drier. This contributes to a reduction in the heat stress suffered by firefighters and further increases their overall safety. The introduction will be at the forthcoming Interschutz 2015 international trade fair in Hannover, Germany.

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• Geosynthetics for construction Lach Huyen Bridge in Haiphong

  

  The longest sea-crossing bridge in Vietnam is under construction close to the Vietnamese city of Hải Phòng (Haiphong), situated near the Gulf of Tonkin. This massive infrastructure project involves the building of a new deep sea port for the northern region of Vietnam and the construction of a motorway. Geosynthetics from TenCate are used in constructing works platforms.

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• TenCate agrees to sell Xennia Technology Ltd

  

  TenCate has signed the agreements with Sensient Technologies Corporation (Milwaukee, Wisconsin, USA) to acquire the assets of Xennia Technology Ltd (Letchworth, UK). Consequently, the expectation is realistic that a final closing of the envisaged transaction can be reached shortly. Financial details of the transaction will not be made available.

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• TenCate sets exchange ratio for stock dividend

  With reference to the dividend for the 2014 financial year, Royal Ten Cate announces that the number of dividend rights of ordinary shares of € 2.50 nominal value giving right to one new ordinary share, has been set at 42.

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• 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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