Koninklijke Ten Cate NV : TenCate begins 2012 in line with expectations
(Thomson Reuters ONE) -
TenCate trading update for the first quarter of 2012
Sales and operating result
+-------------+--------------------+--------------------+--------+
| X ? million | First quarter 2012 | First quarter 2011 | Change |
+-------------+--------------------+--------------------+--------+
| Sales | 257 | 279 | -8% |
+-------------+--------------------+--------------------+--------+
| EBITA | 13.2 | 20.1 | -34% |
+-------------+--------------------+--------------------+--------+
| Net profit | 5.1 | 10.0 | -49% |
+-------------+--------------------+--------------------+--------+
The sales and profit achieved in the first quarter of 2012 are in line with
expectations. The comparison with the first quarter of 2011 is not
representative, as an exceptionally high level of sales of TenCate Defender
(TM)M was generated last year.
The expectation for 2012 as a whole announced earlier will be maintained,
barring unforeseen circumstances.
Advanced Textiles & Composites Sector
The sales of products to the US Army was, as expected and previously announced,
below the exceptionally high level of sales of the first quarter of 2011. At the
end of the first quarter of 2012 demand from the US Army picked up again. Orders
have now been received for new projects.
The other market segments within TenCate Protective Fabrics were cautious, with
the exception of international demand for the protective fabric TenCate
Tecasafe(TM) Plus.
The European market for protective fabrics again showed growth at the end of the
first quarter, which increased the order position.
Sales of armour materials in the United States were at a lower level compared
with the first quarter of 2011.
The market for aerospace composites continued to develop apace, which can also
be regarded in the longer term as a major pillar underpinning the growth of
TenCate. In addition, markets are being developed for TenCate Industrial
Composites (automotive industry, oil & gas extraction and other industrial
applications). The recent acquisition of the composite company PMC Baycomp fits
in well with this. The industrial market regards this acquisition as extremely
positive, in view of the number of new orders received. TenCate Industrial
Composites currently has several concrete projects for the automotive market.
Developments relating to the TenCate ABDS(TM) active blast countermeasure system
are proceeding according to plan. Preparations for its market implementation are
being made in collaboration with public sector bodies and industrial partners.
This process will initially entail additional development costs, which will be
shared in part by third parties.
Geosynthetics & Grass Sector
The trend in sales of geosynthetics and synthetic turf was as expected.
TenCate Geosynthetics continued to record a good performance. In the US in
particular there were positive developments, which were partly due to new
products.
In the Grass group there was still no recovery in the results in the fibre
production (upstream), partly as the result of seasonal effects.
The downstream activities developed in the desired direction, which can partly
be attributed to a certain extent to the measures taken in 2011.
Other activities
The performance at both TenCate Enbi and Xennia Technology was in line with the
developments of the past year. For both companies Asia currently offers the
greatest potential for growth.
Royal Ten Cate
Almelo, the Netherlands, Friday 27 April 2012
_____________________________________________________________________
For further information:
TenCate
F.R. Spaan, Corporate Director, Business Development & Investor Relations
Tel. : +31 546 544 977
Mobile : +31 612 96 17 24
E-mail : f.spaan(at)tencate.com
Internet : www.tencate.com
Royal Ten Cate nv (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.
Systems and materials from TenCate come under four areas of application: safety
and protection; space and aerospace; infrastructure and the environment; sport
and recreation. TenCate occupies leading positions in protective fabrics,
composites for space and aerospace, antiballistics, geosynthetics and synthetic
turf. TenCate is listed on NYSE Euronext (AMX).
Press release as PDF:
http://hugin.info/130798/R/1606706/509446.pdf
This announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Koninklijke Ten Cate NV via Thomson Reuters ONE
[HUG#1606706]
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Datum: 27.04.2012 - 02:04 Uhr
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