2009 - Jaarverslag

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ADVANCED ARMOURPeace operations are becoming evermore dangerous for soldiers. This ispartly the result of a change in militarydeployment, although another cause isthe change in the levels and forms ofthreats.In 2009 too TenCate Advanced Armourwas focused on a systematic andintegrated approach to protection.The very best configuration forthe protection of vehicle and crewcan be achieved for customersthrough collaboration with vehiclemanufacturers. The weight of theanti-ballistic protection must remain aslow as possible, while at the same timeproviding the highest possible level ofprotection.In February 2009 TenCate AdvancedArmour presented its complete rangeof protective solutions at the Abu Dhabitrade fair. Taking pride of place waseffective protection against improvisedexplosive devices (IED) and explosivelyformed projectiles (EFP). TenCateArmourtex BM is an importantexample of lightweight protection thatis able to reduce the extra weight of thevehicle to a minimum.Connected to end-user marketing
REPORT OF THE EXECUTIVE BOARD > Advanced Textiles & CompositesObtaining the above qualifications is important for future sales.TenCate is therefore continuing to invest even in the current economicconditions. Applications for TenCate composites in military aviationand the satellite industry have grown strongly. An important growthmarket is unmanned vehicles (UAVs) for military applications andthe satellite industry. These market positions were considerablystrengthened in 2009. As a result, the number of applications ofTenCate composites will increase further in the near future.OUTLOOK FOR TENCATE ADVANCED ARMOUR ANDTENCATE SPACE & AEROSPACE COMPOSITESTenCate participates directly and indirectly in tenders which can havean important influence on sales, both in the short and long term.There is constant uncertainty about the timing of the placing of theseoften large defence orders. Annual sales are therefore highlydependent on the number and size of projects and fluctuate as a result.No major programmes are scheduled in the short term of the kind seenin 2008, with the exception of the MATV programme (MTAP All TerrainVehicle). The timing of these potential sales is uncertain.the current year. The Boeing 787 Dreamliner completed its firstsuccessful test flight in December 2009. Sales in the second half of2010 could therefore receive a boost. On the other hand, uncertaintyremains with regard to the economic trend and the potential financingproblems of aviation companies in the acquisition of new aircraft.As a result of the cost measures already taken, TenCate will be ableto benefit as soon as the markets pick up. The expectations for themilitary aviation market remain positive, as do those for satelliteprogrammes.In Europe, where revenues are spread over several projects, the orderposition is strong. The market is expected to show a continued goodlevel of sales. This expectation is due to the fact that governmentbudgets for security are not decreasing as a result of the economicsituation and due the previously announced defence programmes forarmour and modernisation.The structural demand for TenCate composites in the aviation industryhas remained positive. That is partly a consequence of thequalifications secured by the company. However, it remains uncertainwhether and to what extent a recovery will be seen in the market inAnnual Report 2009 41
Page 1 and 2: Royal Ten CateAnnual Report 2009Con
Page 3 and 4: COMMERCIAL OVERVIEWas at 1 January
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Page 20 and 21: Report of the Supervisory BoardANNU
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Page 24 and 25: ADVANCED ARMOURIn Europe demand has
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Page 28 and 29: PROTECTIVE FABRICSIn 2009 TenCate P
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OTHER INFORMATIONThe term of the fi
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OTHER INFORMATION51.3 Interest rate
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OTHER INFORMATIONSUBSEQUENT EVENTSA
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Ten-year summaryIn millions of euro
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152 Royal Ten Cate Annual Report 20
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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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