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Trading update THirD qUarTer FigUreS For 2010 24 txtures | number 4 | winter Loek de Vries, Chairman and CEO TenCate n 47% in thi ‘TenCate’s results in the third quarter, with 47% growth, demonstrate that the recovery is continuing. qualification of the profit growth is, however, called for. The underlying operational trend is more positive than is shown by the reported profit growth. This can also be seen from the sharp rise in sales in the third quarter to the level of the top year 2008. • Sales in third quarter of €273 million at the level of the top year 2008 • Profit growth of 47% • Profit trend in third quarter affected by non-recurring high costs for the coordination of downstreaming of synthetic turf operations
et profit up rd quarter of 2010 In the first place, the direct consequence of the pick-up in some markets is that shortages have occurred in certain types of fibre. TenCate has contributed to this to a significant extent through the success of TenCate Tecasafe Plus and TenCate Defender M. Although TenCate, as global market leader in protective fabrics, is relatively well served by its suppliers, this has resulted in some delays and has led to somewhat higher costs, which will be of a temporary nature. reorganization A second effect comes from the synthetic turf markets. As market leader, TenCate heads the field in the reorganization of the synthetic turf market, which is entering a new phase. This development was accelerated by the financial crisis of 2009. The financing of seasonal sales may produce problems for some parties. Other market-related developments are, however, also playing a role in this. In this development phase there will be a consolidation of the markets; market parties will start to work together more in the chain. The main demands of end-users relate to quality and durability. Local authorities are often the owner of sports complexes, and environmental aspects are also playing an ever greater role here. Cooperation is necessary in order to pool specific knowledge. TenCate is seeking to enter into this cooperation through alliances with companies that operate close to the end markets. This process will initially require the appropriate investments and management focus. positive outlook There is also a more positive outlook for the aerospace market, although this is as yet not fully reflected in the current figures. TenCate with its composite materials occupies a prominent position in this market. It has already been announced through a press release that the sale of TenCate Defender M to the US Army will be substantial in the fourth quarter. Cautious We repeat the profit outlook for the second half of the year referred to above. The financial markets have, however, reacted cautiously so far. TenCate announced its expectation of achieving this outlook as a minimum. The trends observed also express confidence about a number of key future developments that will support the further growth of TenCate.’ 25
Page 1 and 2: 2010 | number 4 | winter Theme: spa
Page 3 and 4: mposites - light, strong, durable C
Page 5 and 6: the University of Twente) and in de
Page 7 and 8: production and products The Space &
Page 9 and 10: Advanced composites Advanced compos
Page 11 and 12: The Cirrus SR20 and SR22 consist en
Page 13 and 14: Lightweight composites, which meet
Page 15 and 16: innovations and trends as a technol
Page 17 and 18: Sustainability / Environment TenCaT
Page 19 and 20: Concentration Another challenge is
Page 21 and 22: Sustainability / Environment Ten Ca
Page 23: naTo and US soldiers in iraq and af
Page 27 and 28: number of members has now been redu
Page 29 and 30: Producing modern ballistic protecti
Page 31 and 32: TenCate Geosynthetics and Ashland H
Page 33 and 34: TenCate is putting the finishing to
Page 35 and 36: Innovation TenCaTe SponSorS kanJa U
Page 37 and 38: in 2010 TenCate outdoor Fabrics was
Page 39 and 40: Better grass The Dutch pavilion in
Page 41 and 42: Safety & Protection TenCaTe TeCaSaF
Page 43 and 44: protection US army and navy a signi
Page 45 and 46: Visitors to the AutoRAI in April 20
Page 47 and 48: txtures in 2011 Looking aHeaD To TH

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