2009 - Jaarverslag

REPORT OF THE EXECUTIVE BOARDAnalysis of 2009 results by sector 2009 2008 Difference OrganicOf whichcurrencyAcquisition/divestmentin millions of eurosNet salesAdvanced Textiles & Composites 397.3 481.0 – 17% – 20% + 3% –Geosynthetics & Grass 392.1 497.8 – 21% – 19% + 1% – 3%Other activities 52.7 53.8 – 2% – 2% – –842.1 1.032.6 – 18% – 18% + 2% – 2%Operating result before amortisation(EBITA)Advanced Textiles & Composites 31.7 61.5 – 48% – 52% + 4% -Geosynthetics & Grass 16.8 37.8 – 55% – 51% – – 4%Other activities – 7.0 – 3.9 – 79% – 80% + 1% –41.5 95.4 – 57% – 58% + 2% – 1%Amortisation – 8.8 – 11.6Operating result (EBIT) 32.7 83.8 – 61%Impairment of financial fixed assets – 4.9 –Net financial expenses – 7.8 – 13.7Pre-tax result 20.0 70.1 – 71%Profit tax – 5.6 – 19.1Results from ordinary operations after tax 14.4 51.0 – 72%Result from divested operations 9.5 –Net result from associated companies – 0.8 –Minority interest 0.8 0.1Net result 23.9 51.1 – 53%EBITA margins 2009 2008Advanced Textiles & Composites 8.0% 12.8%Geosynthetics & Grass 4.3% 7.6%Consolidated 4.9% 9.2%High visibility and flame-retarding capabilities in oneTenCate Protective Fabrics North America introduced TenCate Tecasafe Plus at the end of September. This is a high-visibilitywoven fabric for industrial use. The introduction of this new fabric was partly a response to stricter safety standards forprofessional wear. TenCate Tecasafe Plus not only offers more than adequate visibility, it is also the only commercially availablefire-retardant solution that complies with the standards in terms of safety and protection. The material is very durable and doesnot reduce wearer comfort. The commercial applications of TenCate Tecasafe Plus are numerous: it is suitable for electricitycompanies, the oil and petrochemical industry, national security services and for firemen when fighting forest fires.26Royal Ten Cate