Printable PDF - Tessenderlo Group

2000
1500
1000
500
0
100
80
60
40
20
0
250
200
150
100
50
0
Turnover
(millions EUR)
Net consolidated earnings
(millions EUR)
Consolidated cash flow
(millions EUR)
1972
94 95 96 97 98 99 00 01 02 03
43
94 95 96 97 98 99 00 01 02 03
162
94 95 96 97 98 99 00 01 02 03
300
250
200
150
100
50
0
8
6
4
Ebitda
(millions EUR)
Earnings/turnover
(%)
2
0
0
204
94 95 96 97 98 99 00 01 02 03
94 95 96 97 98 99 00 01 02 03
Net financial debt/
cash flow
3
2
1
2.2
2.13
94 95 96 97 98 99 00 01 02 03
0.7
0.6
0.5
0.4
0.3
0.2
0.1
0.0
30
24
18
12
6
0
6
4
2
0
Enterprise
Value/turnover
94 95 96 97 98 99 00 01 02 03
Enterprise Value/
net profit
Enterprise Value/ebitda
0.56
25.02
94 95 96 97 98 99 00 01 02 03
5.4
94 95 96 97 98 99 00 01 02 03
1000
800
600
400
200
0
28
21
14
7
0
756
94 95 96 97 98 99 00 01 02 03
Net financial debt/
Enterprise Value
(%)
35
40
30
20
10
0
TESSENDERLO GROUP IN A FEW CHARTS
Group shareholders' equity
(millions EUR)
31
94 95 96 97 98 99 00 01 02 03
Net financial debt/
equity ratio
(%)
50
44.84
94 95 96 97 98 99 00 01 02 03
20
16
12
8
4
0
12
9
6
3
0
0.8
0.6
0.4
0.2
0.0
Return on equity
(%)
5.7
94 95 96 97 98 99 00 01 02 03
Interest coverage
5.7
94 95 96 97 98 99 00 01 02 03
Evolution of the net
dividend per share
(EUR)
1.0
0.85
94 95 96 97 98 99 00 01 02 03
THE GROUPS’ STRATEGY AND ASSETS
For years Tessenderlo Group has been pursuing a logical strategy
that can be summarised as folllows:
– striving throughout the world for a leading position in niche markets;
– implementing acquisitions with a high added value, more specially within
the Fine Chemicals and Plastics Converting divisions;
– pursuing a policy with minimal risk;
– generating an optimal yield with the resources furnished by the
shareholders;
– devoting constant attention to cost savings;
– seeking a high return on the share capital.
On the basis of this strategy, Tessenderlo Group wants to achieve the
following objectives:
– devoting maximum attention to the environment and the safety and health
of each individual – both inside and outside the company;
– offering customers quality products and outstanding service;
– creating a working environment in which teamwork plays a central role,
and which stimulates the personal development of the employees;
– achieving steady profit growth in order to further strengthen the confidence
of the shareholders.
In recent years, this strategy has born fruit, in part thanks to a
number of advantages Tessenderlo Group possesses:
– the world leadership – and at least the European leadership – for the vast
majority of its diversified product range, primarily in niche markets;
– the industrial integration of the various production processes. Focus on
valorisation of by-products. This generates considerable cost savings;
– the emphasis that is placed on specialities (60% of turnover), where the
market is less cyclical;
– the orientation towards products with a high added value;
– the importance of exports. +90% of the group’s production is consumed
outside Belgium;
– the sound financial situation;
– annual investments of 130 million EUR on average;
– the dedication of experienced and highly qualified employees.