2009 - Jaarverslag

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ADVANCED ARMOURIn Europe demand has increased forcustomized anti-ballistic protectiveplates, specially designed againstspecific threats. The first supplies forthe French military’s FELIN programmestarted in November 2009. TenCateAdvanced Armour supplies the Frenchwith integrated solutions based onTenCate Multi-light protective plates.These interchangeable plates can befreely produced as regards form, weightand colour.In June 2009 the first TenCate Cerategocomposite armouring panels weredelivered to the Dutch military for theprotection of the Patria XA-188 vehicles,which are deployed by The Netherlandsin Afghanistan. This anti-ballistic productis also made of lightweight compositematerial. Thanks to new technology, itis extremely suitable as backing behindexisting armouring panels. Comparedwith conventional protective solutions,it saves fuel, thus increasing the actionradius of the vehicles.Now that TenCate Advanced Armourstarted operations in the United Kingdomin mid-2009, British soldiers will also beable to benefit from the wide range ofcomposite armour solutions.Connected to end-user marketing
FOREWORD BY THE CHAIRMAN OF THE EXECUTIVE BOARDFUTURE GROWTHTenCate continues to work constantly on the achievement of futuregrowth. A characteristic feature of this work is ‘casting the anchorforward’. In line with our buy & build strategy, companies are acquiredwhich fit within the TenCate business model. Strong product-markettechnologycombinations are expanded. Activities with little prospectof future success are divested, while TenCate pursues its geographicexpansion. The core theme is technological innovation: thedevelopment of leading and trendsetting market positions withpioneering technologies. In this regard TenCate focuses on worldwidesustainable growth markets, such as safety and protection, lowerenergy consumption, water management and environmental protection.These are also social and ecological themes.Xennia Technology is currently a small but profitable part of TenCate.The company produces advanced technical solutions for various marketoperators. Xennia has developed a number of applications – includingtextile applications through TenCate – which represent attractivegrowth markets for solutions based on industrial inkjet technology.TenCate expects to achieve a breakthrough in digital finishing (surfacecoating) of textiles based on nanotechnology. Xennia is workingintensively in this area in co-operation with TenCate. This innovativetechnology has strong spin-off potential for many of TenCate’s existingproduct-market combinations. Our inkjet technology, which is protectedby various patents, can also be applied to non-textile materials, forexample in packaging and product decoration such as ceramics, glassand furniture.innovations. There will also be a continued focus on control of workingcapital and costs in 2010. Some expansion is planned here, partlyhaving regard to the positive effects of the cost measures taken.The priority is the generation of a strong cash flow. The investmentlevel will therefore be around the depreciation level (€ 35 million).The rationalisation and concentration process initiated in 2009 amongthe Dutch businesses is intended to open up new prospects for thefuture.Expectations with regard to a general economic recovery are not highfor 2010. We nevertheless see positive signals in submarkets, such asprotective fabrics for safety clothing. TenCate also has potential invarious emerging markets, such as in Asia and South America. This willbe exploited intensively in 2010.CO-OPERATIONCo-operation with our customers, with our strategic partners intechnology and other fields and among our employees and businessunits is essential in order to maintain a strong position as a globalplayer in the market. New value is created on the basis of openinnovation and our shared knowledge and skills. All parties ultimatelybenefit from optimum results. The way in which we co-operatedsuccessfully once again in 2009 gives me great hope and gives usconfidence in the future. I would also like to express my gratitudefor the efforts made by our employees over the past year.DEVELOPMENTS IN 2010Although we are continuing to pursue growth, attention on theoperational level in 2010 will be focused first on consolidating andwhere possible expanding our existing market positions, second onfinancial solidity and third on continuing development in technologicalL. de Vries, Chairman of the Executive BoardAnnual Report 2009 21
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OTHER INFORMATIONThe term of the fi
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OTHER INFORMATIONSUBSEQUENT EVENTSA
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Ten-year summaryIn millions of euro
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OTHER ACTIVITIESNON-CONSOLIDATED CO
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Royal Ten Cateinvestor relations &
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2009 - Jaarverslag

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