Koninklijke Ten Cate NV : TenCate records 11% organic profit growth (EBITA) in third quarter of 2013
(Thomson Reuters ONE) -
TenCate trading update for third quarter of 2013
+------------+-------------+------------------+------+--------------+
| |Third quarter| | | |
|x ?1 million|2013 |Third quarter 2012|Change|Organic growth|
+------------+-------------+------------------+------+--------------+
|Net revenues| 273.0| 276.8| -1%| 1%|
+------------+-------------+------------------+------+--------------+
|EBITA | 18.1| 16.7| 8%| 11%|
+------------+-------------+------------------+------+--------------+
|EBITA margin| 6.6%| 6.0%| | |
+------------+-------------+------------------+------+--------------+
|Net profit | 8.4| 7.8| 8%| 10%|
+------------+-------------+------------------+------+--------------+
|Net debt | 211.3| 273.6| -23%| |
+------------+-------------+------------------+------+--------------+
|Debt ratio | 2.51| 2.60| | |
+------------+-------------+------------------+------+--------------+
In the third quarter of 2013 TenCate recorded an organic increase in EBITA of
11% compared to the third quarter of 2012. This increase is almost entirely
attributable to the Advanced Textiles & Composites sector. The cautious
government market (infrastructure and environment) and weakening economic
growth in Asia put downward pressure on revenues in the Geosynthetics & Grass
sector.
Revenue growth in the third quarter was achieved by the TenCate Advanced
Composites, TenCate Advanced Armour and TenCate Grass market groups.
The debt position has decreased further compared to the first half of the year,
due to modified control of the company, resulting in a strong cash flow, good
control of the working capital and a restrained level of investment.
Advanced Textiles & Composites sector
Sales of TenCate Defender(TM) M remained at a low level. Despite increased
marketing of TenCate Defender(TM) M outside the US, the increase in sales here
had a limited impact overall. Sales of TenCate Tecasafe® Plus (industrial
market) continued to grow strongly.
TenCate Advanced Composites took advantage of the increase in production for
both Airbus and Boeing. At other leading OEMs in the aircraft industry too
developments were positive. Demand from the space industry remained at a high
level.
Armour-related revenues increased compared to the third quarter of 2012, thanks
to growing revenues from the market for personal protection. The vehicle armour
market remained cautious, while production for aerospace armour recovered in
accordance with expectations.
Geosynthetics & Grass sector
In the third quarter the revenues of the TenCate Geosynthetics market group
remained at the same level as in the comparable period last year. In Europe and
North America revenues grew. However, the pressure on government spending had a
negative effect on the margin due to the absence of large projects. Revenues
from Asia were below the level of last year as a result of weakening economic
growth.
TenCate Grass benefited from a higher capacity utilization rate thanks to
favourable market trends and an increase in market share. The demand for
GreenFields® MX (the 3D-woven synthetic turf system) increased due to its
distinctive innovative technology. GreenFields® MX is being used by amongst
others clubs in the Jupiler League (first division) in the Netherlands.
Royal Ten Cate
Almelo, Thursday 24 October 2013
Note for editors
For further information:
Pieter Zwinkels, investor relations manager
Tel: +31 (0)546 544 318
Mobile: +31 (0)610 886 338
E-mail: p.zwinkels(at)tencate.com
Internet: www.tencate.com
Royal Ten Cate (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 and included in the AMX index.
Press release as PDF:
http://hugin.info/130798/R/1737856/582849.pdf
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originality of the information contained therein.
Source: Koninklijke Ten Cate NV via Thomson Reuters ONE
[HUG#1737856]
Unternehmensinformation / Kurzprofil:
Datum: 24.10.2013 - 07:59 Uhr
Sprache: Deutsch
News-ID 308891
Anzahl Zeichen: 5694
contact information:
Town:
Almelo
Kategorie:
Business News
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