25 July 2015

TenCate records 5% organic sales growth with net profit sharply higher at € 19.3 million

TenCate News 23 July 2015 - Loek de Vries, president and CEO: “The second quarter of 2015 marked five consecutive quarters with organic sales growth. It was the third consecutive quarter with a higher EBITA margin for the group.

The earnings recovery is mainly due to the growth of a number of the most high-quality products with which TenCate can combine its innovations with a strong position in growth markets. This applies for example to artificial turf, military protective fabrics and aerospace composites.

The sale of industrial protective fabrics and of geotextiles was affected by the reduced activity in the oil and gas industry. At TenCate Advanced Armour, delivery volumes are still too low, which leads to a continued negative operating result despite the restructuring measures taken..read on.