2009 - Jaarverslag

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NOTES TO THE CONSOLIDATED BALANCE SHEETThe € 3.7 million financial lease liability relates to a building in Hungary.The USD loan with variable interest concerns a $ 4.0 million loan from the Development Authority of Pike CountyIndustrial Revenue Bonds. Repayment is due in full in 2018.Of the total of long-term loans, 99% had variable interest in 2009 (2008: 99%). The risk associated with thisvariability has been hedged by means of a number of instruments (caps, swaps). Details of the interest rate riskborne by the Group can be found in note 51.3.49 PENSION LIABILITIES 2009 2008Defined benefit schemesDiscounted value of covered liabilities 295.7 275.1Market value of fund investments 298.5 272.4Discounted value of net liabilities – 2.8 2.7Unrecognised actuarial profits and losses 15.4 15.1Total defined benefit schemes 12.6 17.8Other liabilities in respect of pensions 8.4 6.5Pension liabilities 21.0 24.349.1 Changes in the valuation of liabilities as at the reporting date 2009 2008Balance of liabilities as at 1 January 275.1 298.6Transfers from other pension liabilities 3.0 –Service costs 2.9 3.3Members’ contributions 3.1 3.1Interest costs 15.7 16.3Benefits paid – 15.9 – 15.6Actuarial differences 11.8 – 30.6Balance as at 31 December 295.7 275.1122Royal Ten Cate Annual Report 2009
49.2 Investments 2009 2008Balance as at 1 January 272.4 304.7Transfers from other pension liabilities 2.5 –Expected return 16.6 17.7Employer’s contribution 8.0 4.8Members’ contributions 3.1 3.1Actuarial differences 11.8 – 42.3Benefits paid – 15.9 – 15.6Balance as at 31 December 298.5 272.4Analysis of investments as at 31 December 2009 2008Bonds 158.6 161.4Shares 96.4 69.0Hedge funds 11.5 11.1Real estate 25.2 26.0Cash 3.4 4.9Other 3.4 –Pension fund investments 298.5 272.449.3 Charge stated in statement of comprehensive income 2009 2008Service costs – 2.9 – 3.3Asset ceiling test in accordance with IAS 19.58 – 0.8 –Interest on the liabilities – 15.7 – 16.3Expected return on fund investments 16.6 17.7Pension income/charges – 2.8 – 1.9The pension charges have been stated in the 2009 statement of comprehensive income in an amount of€ 2.8 million (2008: € 1.9 million) under personnel costs. The actual return on fund investments amountsto € 28.4 million (2008: – € 24.6 million).Royal Ten Cate Annual Report 2009 123
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Royal Ten CateAnnual Report 2009Con
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COMMERCIAL OVERVIEWas at 1 January
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Annual Report 2009Royal Ten CatePro
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Financial highlights inmillions of
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Corporate technology3D weavingThe T
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Vision, mission, strategy and objec
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TenCate technology overviewEND-USER
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The TenCate shareLISTINGThe TenCate
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ConnectedTenCate is a producer of m
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Report of the Supervisory BoardANNU
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REPORT OF THE SUPERVISORY BOARD◾
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ADVANCED ARMOURIn Europe demand has
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The Boards (as at 1 January 2010)EX
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PROTECTIVE FABRICSIn 2009 TenCate P
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REPORT OF THE EXECUTIVE BOARDAnalys
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REPORT OF THE EXECUTIVE BOARDOPERAT
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REPORT OF THE EXECUTIVE BOARDPOST B
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PROTECTIVE FABRICSProtective clothi
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REPORT OF THE EXECUTIVE BOARD > Adv
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REPORT OF THE EXECUTIVE BOARD > Adv
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AEROSPACE COMPOSITESIn March 2009 A
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ADVANCED ARMOURPeace operations are
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GEOSYNTHETICSIn 2009 TenCate Geosyn
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REPORT OF THE EXECUTIVE BOARD > Geo
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innovative inkjet solutionsAs globa
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REPORT OF THE EXECUTIVE BOARD > Oth
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GEOSYNTHETICSTenCate GeoDetect ® i
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Corporate informationCORPORATE GOVE
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CORPORATE INFORMATIONSWOT ANALYSIST
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GRASSThe 100th Cruyff Court was ope
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CORPORATE INFORMATIONbodies, in par
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CORPORATE INFORMATIONWith regard to
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CORPORATE INFORMATIONCentral manage
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CORPORATE INFORMATIONthe reduction
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CORPORATE INFORMATIONSAFETYOur empl
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Page 78 and 79: CORPORATE INFORMATIONSUSTAINABILITY
Page 80 and 81: SPACE COMPOSITESGalileo is the firs
Page 82 and 83: Corporate communicationIn October 2
Page 84 and 85: 24 Share capital 10125 Pension liab
Page 86 and 87: Consolidated statement of comprehen
Page 88 and 89: Consolidated balance sheetin millio
Page 90 and 91: Consolidated cash flow statementFor
Page 92 and 93: Consolidated statement of changes i
Page 94 and 95: Notes to the consolidated financial
Page 96 and 97: NOTES TO THE CONSOLIDATED FINANCIAL
Page 108 and 109: Notes to the statement of comprehen
Page 110 and 111: NOTES TO THE STATEMENT OF COMPREHEN
Page 112 and 113: NOTES TO THE STATEMENT OF COMPREHEN
Page 114 and 115: NOTES TO THE CONSOLIDATED BALANCE S
Page 132 and 133: OTHER INFORMATIONThe term of the fi
Page 134 and 135: OTHER INFORMATION51.3 Interest rate
Page 136 and 137: OTHER INFORMATION51.5 Hedge account
Page 138 and 139: OTHER INFORMATIONThe effect of a ge
Page 140 and 141: OTHER INFORMATION56.2 Directors’
Page 142 and 143: Company financial statements58 COMP
Page 144 and 145: NOTES TO THE COMPANY FINANCIAL STAT
Page 150 and 151: Other informationTo the General Mee
Page 152 and 153: OTHER INFORMATIONSUBSEQUENT EVENTSA
Page 154 and 155: Ten-year summaryIn millions of euro
Page 156 and 157: 152 Royal Ten Cate Annual Report 20
Page 158 and 159: OTHER ACTIVITIESNON-CONSOLIDATED CO
Page 160: Royal Ten Cateinvestor relations &
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2009 - Jaarverslag

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