In part in response to the new European transparency guideline, which came into force on 1 January 2009, and the wishes of interested parties in the financial markets, starting this year Royal Ten Cate (TenCate) is no longer publishing detailed quarterly reports at sector level. This will have consequences primarily for the reporting of the first and third quarters. The reporting on a yearly and half-yearly basis will remain unchanged, taking into consideration recent legislation.
TenCate operates in sustainable growth markets, which are characterized by long-term trends. TenCate sales show in part a seasonal pattern and are project-specific in particular for activities related to military markets. This may produce peaks in quarterly sales, resulting in a decline in the transparency, comparability and predictability value of the figures at detail level.
TenCate will in future publish its report for the first and third quarters in the form of a market-oriented trading update. In addition to a qualitative representation of a general outline of performance, these reports will provide a quantitative overview of consolidated sales, operating result before amortization (EBITA) and net profit.
TenCate aims to increase the consistency of its reporting, with non-recurring aspects being given less weight in quarterly reports.
The financial calendar appears on the TenCate website (www.tencate.com).
Almelo, Wednesday 11 March 2009
Royal Ten Cate
Drs. F.R. Spaan, director investor relations & corporate development
Tel: +31 (0)546 544 338
Mobile: +31 (0)06 12 96 17 24