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Q3 net profit mounts 10% at Dutch textile company TenCate

29 Oct '14

2 min read

Third-quarter of 2014 net profit rose 10 percent from the prior year quarter at Koninklijke TenCate, a Netherlands based textiles company, operating in the defence, sports and aerospace space.

TenCate said its third quarter net profit increased 10 percent to Euro 9.2 million from Euro 8.4 million in the corresponding quarter of 2013.

Net sales increased 3 percent to Euro 277.1 million from Euro 270.2 million, from the same quarter of 2013.

Meanwhile, in the third quarter of 2014, EBITA - a key earnings metric, remained unchanged from a year ago quarter at Euro 17.8 million, while EBITA margin fell 6.4 percent from 6.6 percent.

Net debt in the third-quarter of 2014 declined to Euro 206.9 million from Euro 209.8 million in the third-quarter of 2013.

TenCate said revenues of the Protective Fabrics segment increased in the third quarter, in particular in the industrial safety segment.

TenCate attributed the same to a specific focus on major industrial sectors, such as the oil and gas industry and energy companies, where personal protection is given high priority.

Sales of TenCate Defender M showed a sharp increase in the third quarter compared to the previous quarters of this year. In this market too, TenCate maintains a positive outlook for the reminder of the year.

Driven mainly by Airbus A350 and Boeing 787 programmes, aerospace-related revenues of Advanced Composites market group too went up, while those from the space industry declined.

TenCate said trends were favourable in the field of new business development, as sales in the automotive industry are still mainly concentrated within the sports car and racing car segment.

The continuing steep decline in the sales of armour composites compared to last year occurred mainly in the US market as projects suffered delays, due to starts getting delayed.

Revenues of the TenCate Geosynthetics market group showed slight growth in the third quarter of 2014 from hike in sales in Asia and the US, compared to last year.

The TenCate Grass market group grew slightly, in part due to stronger positioning in the American market.

The increased demand for synthetic turf fibres led to significant sales growth for TenCate Grass upstream. Positive efficiency effects were partly offset by increased raw materials costs. (AR)

Fibre2fashion News Desk - India

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Q3 net profit mounts 10% at Dutch textile company TenCate

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