2009 - Jaarverslag

More documents

Recommendations

Info

GEOSYNTHETICSIn 2009 TenCate Geosynthetics wasalso involved in numerous projectsworldwide for sustainable watermanagement, often in collaborationwith government agencies. TheTenCate Geotube ® system consistsof very large tubular textile systemsthat are hydraulically filled with sandor sludge that is available locally.This makes it a more sustainablesolution than traditional materials forbank protection. The system is moreeffective than the dredging up of sand,which may be carried away again by theflowing water. In addition, it can be wellintegrated into the landscape and isthus also of ecological value.In 2009 a start was made on reinforcingand protecting river banks in theNiger delta in Nigeria using TenCateGeotube ® . In the United States workwas carried out on the recovery andprotection of the coastal strip of GrandIsle in New Orleans (Louisiana) togetherwith the US Corps of Engineers. InMalaysia a large number of systemswere supplied for the ecologicaldewatering and storage of calciumsulfate. China too now uses thesesystems for large-scale applications.Connected to end-user marketing
GEOSYNTHETICS & GRASSKey figuresGeosynthetics & Grass 2009 2008 2007 2006 2005in millions of euros unless stated otherwiseRevenues 392.1 497.8 468.3 397.5 273.9Operating result before amortisation (EBITA) 16.8 37.8 30.4 25.6 23.8EBITA margin (%) 4.3 7.6 6.5 6.4 8.7Operating result (EBIT) 13.8 34.8 28.3 25.5 23.8Investments 9.0 29.0 44.9 28.9 10.5Depreciation and amortisation 25.3 23.0 20.0 13.7 7.9Net assets 332.7 427.4 354.8 215.8 206.4Staff years at year-end 1,795 2,129 2,053 1,633 1,544EBITA as percentage of net average capital employed 4.1 8.8 8.9 12.9 22.6ACTIVITIESThe Geosynthetics & Grass sector consists of the following marketgroups:◾ TenCate Geosynthetics and TenCate Industrial FabricsFabrics, grids and nonwovens for use in civil engineering, theconstruction industry and the environmental market, as well asindustrial fabrics for various applications, such as fish farms,agribusiness, sport and recreation.◾ TenCate GrassSynthetic turf components, including synthetic grass fibres andbacking, for applications such as football, hockey and other sportspitches, as well as landscaping.REVENUES AND RESULTSThe revenues of the Geosynthetics & Grass sector declined on anorganic basis by 19% to € 392.1 million (2008: € 497.8 million).The currency effect was 1%. This decrease occurred to the sameextent in both markets.The market for geosynthetics was mainly under pressure due to thesituation in the United States, which is one of the main geographicmarkets. The promised stimulation of the US economy by means ofinfrastructure works did not translate into a revival of the projectmarket. Throughout the year, TenCate exercised restraint in the use ofsupplier credits to provide finance in the synthetic turf market. This isa seasonal market, and supplier credit is an inseparable part of it.In view of the limitation on working capital – unlike the situation inBUSINESS MODEL GEOSYNTHETICSBUSINESS MODEL GRASSEND-USER MARKETINGINNOVATIONEND-USER MARKETINGINNOVATION▪ Upgrade sales organization towardsproject market and high added valueproducts (new dimensions)▪ Alignments with other solution providers(water management)▪ Position geosynthetics as durable,ecological friendly▪ Emerging markets▪ I n t e l l i g e n t g e o s y n t h e t i c s▪ Polymer technology (biopolymers)▪ Filtration technology▪ Integrate strategic alliances into theTenCate strategy▪ System approach▪ Quality matters. Cost of ownership▪ Implement system approach withpartners▪ Finalization 4th generation systems▪ Limit (other) technological developments(focus)▪ Rationalisation of product portfolio▪ Focus on infrastructure and environment▪ Military market▪ Cost reduction / higher efficiencyDutch production▪ Lean and mean (EU) sales organization▪ Get own systems certified and specified(system ownership)▪ Performance guarantees▪ Cradle to cradle▪ Cost-effective / more flexibleDutch production▪ Margin growth through better utilizationDIFFERENTIATIONCOST LEADERDIFFERENTIATIONCOST LEADERAnnual Report 2009 43
Page 1 and 2: Royal Ten CateAnnual Report 2009Con
Page 3 and 4: COMMERCIAL OVERVIEWas at 1 January
Page 5 and 6: Annual Report 2009Royal Ten CatePro
Page 7: Financial highlights inmillions of
Page 10 and 11: Corporate technology3D weavingThe T
Page 12 and 13: Vision, mission, strategy and objec
Page 14 and 15: TenCate technology overviewEND-USER
Page 16 and 17: The TenCate shareLISTINGThe TenCate
Page 18 and 19: ConnectedTenCate is a producer of m
Page 20 and 21: Report of the Supervisory BoardANNU
Page 22 and 23: REPORT OF THE SUPERVISORY BOARD◾
Page 24 and 25: ADVANCED ARMOURIn Europe demand has
Page 26 and 27: The Boards (as at 1 January 2010)EX
Page 28 and 29: PROTECTIVE FABRICSIn 2009 TenCate P
Page 30 and 31: REPORT OF THE EXECUTIVE BOARDAnalys
Page 32 and 33: REPORT OF THE EXECUTIVE BOARDOPERAT
Page 34 and 35: REPORT OF THE EXECUTIVE BOARDPOST B
Page 36 and 37: PROTECTIVE FABRICSProtective clothi
Page 38 and 39: REPORT OF THE EXECUTIVE BOARD > Adv
Page 40 and 41: REPORT OF THE EXECUTIVE BOARD > Adv
Page 42 and 43: AEROSPACE COMPOSITESIn March 2009 A
Page 44 and 45: ADVANCED ARMOURPeace operations are
Page 48 and 49: REPORT OF THE EXECUTIVE BOARD > Geo
Page 54 and 55: innovative inkjet solutionsAs globa
Page 56 and 57: REPORT OF THE EXECUTIVE BOARD > Oth
Page 58 and 59: GEOSYNTHETICSTenCate GeoDetect ® i
Page 60 and 61: Corporate informationCORPORATE GOVE
Page 62 and 63: CORPORATE INFORMATIONSWOT ANALYSIST
Page 64 and 65: GRASSThe 100th Cruyff Court was ope
Page 66 and 67: CORPORATE INFORMATIONbodies, in par
Page 68 and 69: CORPORATE INFORMATIONWith regard to
Page 70 and 71: CORPORATE INFORMATIONCentral manage
Page 72 and 73: CORPORATE INFORMATIONthe reduction
Page 74 and 75: CORPORATE INFORMATIONSAFETYOur empl
Page 76 and 77: CORPORATE INFORMATIONResearch and d
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 98 and 99:
Page 100 and 101:
Page 102 and 103:
Page 104 and 105:
Page 106 and 107:
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 116 and 117:
Page 118 and 119:
Page 120 and 121:
Page 122 and 123:
Page 124 and 125:
Page 126 and 127:
Page 128 and 129:
Page 130 and 131:
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 146 and 147:
Page 148 and 149:
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 &
show all

2009 - Jaarverslag

You also want an ePaper? Increase the reach of your titles

Delete template?

Save as template?