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Koninklijke Ten Cate NV : TenCate trading update for the first quarter of 2014

Key figures for the first quarter of 2014

|x 1 €million First quarter of 2013 First quarter of 2014 Changes Autonomous |
|Net revenues 241.2 223.3 -7% -5% |
|EBITA 12.8 5.5 -57% -56% |
|Net debt 246.3 209.4 |
|Debt ratio 2.80 2.80 |
TenCate recorded a decline in revenues of 7% in the first quarter of 2014,
with 2% of this being the result of currency effects. The lower defence
revenues had a considerable effect on profitability. TenCate does not
consider the results for the first quarter to be representative of the year
as a whole, particularly in view of the seasonal nature of a large part of
the revenues and the low number of major projects in the first quarter. The
net debt declined by €37 million, with the debt ratio on balance remaining

For the year as a whole TenCate maintains its growth projection in respect of
the trend in revenues for the company, barring unforeseen circumstances.

Advanced Textiles&Composites Sector
The defence-related revenues within the Advanced Textiles&Composites sector
decreased sharply in the first quarter of 2014 compared to the first quarter
of 2013. Defence-related revenues are expected to recover strongly, based on
current orders and orders that are expected.

Revenue growth was recorded within TenCate Protective Fabrics in the first
quarter in the market for emergency response and for industrial safety
(TenCate Tecasafe® Plus).

Activities in automotive and industrial composites made a significant
contribution to the growth in revenues of the TenCate Advanced Composites

Geosynthetics&Grass Sector
TenCate Geosynthetics achieved limited revenue growth in Europe and the
American continents. In Asia the market for infrastructure projects remained
depressed, as a result of lower government budgets and local political

Global fibre production at TenCate Grass achieved growth in revenues and
higher profitability as a result of recovering market demand for high-grade
fibres, in part due to a shift in the mix towards high quality products. The
costs that were entailed in the development of the GreenFields marketing and
sales organization in the United States put downward pressure on the Grass
downstream activities.

Royal Ten Cate
Almelo, Monday, 28 April 2014
For further information:


Pieter Zwinkels, investor relations manager
Tel. +31 (0)546 544 977
Mobile +31 (0)6 1088 6338
e-mail ir@tencate.com

Internet www.tencate.com

Royal Ten Cate
(TenCate) is a multinational company that combines material technology with chemical processes in the development and production of functional materials with distinctive characteristics, with the mission of 'Protecting People'. Systems and materials from TenCate come under six end markets: personal protection; defence; mobility; infrastructure; water management; sport and recreation. TenCate occupies leading positions in protective fabrics, composites for aerospace, antiballistics, geosynthetics and synthetic turf. TenCate is listed on NYSE Euronext Amsterdam and included in the AMX index.

Press release as PDF


This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Koninklijke Ten Cate NV via Globenewswire


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