There are risks associated with the business strategy. External economical, ecological and social factors, unpredictability of market developments, calamities and human factors can impede the achievement of business objectives.
TenCate strives to control the achievement of strategic and operational objectives as effectively as possible. To that end, TenCate has access to appropriate risk management and control measures. As a result of these:
- The main risks are identified in time and remain limited to an acceptable level
- There is a reasonable degree of certainty that the financial reporting contains no material misstatements
- The applicable regulations and legislation are complied with
The market arenas and areas in which TenCate operates – protective fabrics, space and aerospace composites, antiballistics, geotextiles and synthetic turf – entail specific strategic and commercial risks. In most cases, TenCate pursues these activities on four continents, each with its own dynamics. TenCate is therefore not part of a monoculture. Consequently, none of the risks detailed below will have a dominant influence.
A number of specific significant risks applying to TenCate have been identified. The summary of the main specific risk areas below is not exhaustive. It is possible that risks which have not currently been identified or which are not seen as material will subsequently have a significant negative effect on ability of TenCate to achieve its business objectives. The risk management and control measures are aimed at timely identification of these risks.