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TenCate records profit growth of 47% for H1
20 Aug '08
5 min read
Performance by sector:
Advanced Textiles & Composites:
The Advanced Textiles & Composites sector showed a growth in sales of 48% in the first half. A major proportion of the increase in sales resulted from the acquired company Composix. In the first half of the year sales increased by 15% on an autonomous basis. The currency effect amounted to -9%.
The results too showed very strong growth. In autonomous terms, EBITA rose in the first half of the year by 11%
The further rise in the EBITA margin reflects the increase in the proportion of products with a high functional value and distinctive capability.
Sales in this sector are to a large extent determined by the tightening up of the requirements relating to levels of protection with regard to fire-resistance and armour for military personnel and materiel. The American defence market is of particular importance in this respect.
The defence orders for safety fabrics form a major part of the total sales in this sector. In the future too the demand for fire-resistant fabrics will continue to develop strongly, in view of the safety requirements of the US army and increasing interest from Europe.
TenCate Defender M material, which was specially developed by TenCate to meet the specifications of the US army, is the leading product in this market. The capacity relating to fibre production by suppliers has now been brought in line with current needs. In the second half of the year volumes may be stepped up further.
Sales in Europe in the field of safety fabrics, where sales are primarily generated in the industrial market for professional wear and protective clothing, are at a lower level than the previous year.
TenCate recently entered into a joint venture with a Thai producer in order to secure a position in the emerging Asian market for protective fabrics. The joint venture will become operational in mid-August.
The acquisition of Xennia plc (75%) in March 2008 represents an acceleration in the marketing of inkjet technology for certain industrial applications, including production processes in the textile sector. TenCate will exclusively deploy this technology in markets for technical textiles (functional materials). Other industrial sectors will be allowed to use the technology under licence.
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Advanced Textiles & Composites:
The Advanced Textiles & Composites sector showed a growth in sales of 48% in the first half. A major proportion of the increase in sales resulted from the acquired company Composix. In the first half of the year sales increased by 15% on an autonomous basis. The currency effect amounted to -9%.
The results too showed very strong growth. In autonomous terms, EBITA rose in the first half of the year by 11%
The further rise in the EBITA margin reflects the increase in the proportion of products with a high functional value and distinctive capability.
Sales in this sector are to a large extent determined by the tightening up of the requirements relating to levels of protection with regard to fire-resistance and armour for military personnel and materiel. The American defence market is of particular importance in this respect.
The defence orders for safety fabrics form a major part of the total sales in this sector. In the future too the demand for fire-resistant fabrics will continue to develop strongly, in view of the safety requirements of the US army and increasing interest from Europe.
TenCate Defender M material, which was specially developed by TenCate to meet the specifications of the US army, is the leading product in this market. The capacity relating to fibre production by suppliers has now been brought in line with current needs. In the second half of the year volumes may be stepped up further.
Sales in Europe in the field of safety fabrics, where sales are primarily generated in the industrial market for professional wear and protective clothing, are at a lower level than the previous year.
TenCate recently entered into a joint venture with a Thai producer in order to secure a position in the emerging Asian market for protective fabrics. The joint venture will become operational in mid-August.
The acquisition of Xennia plc (75%) in March 2008 represents an acceleration in the marketing of inkjet technology for certain industrial applications, including production processes in the textile sector. TenCate will exclusively deploy this technology in markets for technical textiles (functional materials). Other industrial sectors will be allowed to use the technology under licence.
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