Koninklijke Ten Cate NV : TenCate decides to record an impairment charge
2015年2月6日 - 4:05PM
Ahead of the publication of its 2014 annual results on Friday, 20
February 2015, and based on preliminary data, TenCate has decided
to record a (non-cash) impairment charge against goodwill as well
as tangible and intangible fixed assets, mainly in TenCate Advanced
Armour, for an amount of approximately € 82 million pre-tax.
This impairment charge was triggered by revised forecasts and
also relates to the historical performance of TenCate Advanced
Armour, which recorded a substantial operating loss in 2014. In
this market group, the development of the TenCate ABDS(TM) active
blast countermeasure system is proceeding according to plan.
The impairment charge at TenCate Advanced Armour does not affect
the unit's market position. As reported previously, the market
group has secured multi-year supply agreements in both the United
States and Europe. The timing of the actual delivery of orders
remains uncertain, however. In 2015, the cost structure of the
Advanced Armour group will be further adapted and made more
flexible to better cope with volatile sales volumes, in order to
improve the operating result.
Provisional 2014 results
Based on preliminary data, pending the external auditor's
review, TenCate recorded organic growth of 4% in 2014, resulting in
full-year turnover of approximately € 1,042 million. The 2014 net
profit adjusted for non-recurring items will be approximately € 24
million (2013: € 23.2 million), according to preliminary
figures.
In addition to the impairment charge, non-recurring items
include a pre-tax gain of approximately € 8 million related to a
change in the Dutch pension scheme.
After tax, the balance of non-recurring items is approximately €
70 million negative, according to preliminary data. Reported net
income (IFRS) for 2014 will be a loss of approximately € 46
million.
The impairment charge has no effect on the net debt / EBITDA
ratio; at the end of 2014, TenCate was in compliance with its bank
covenants. It is expected that the proposed dividend will be
unchanged from the previous year (€ 0.50 per share).
The content of this press release has not been reviewed by the
external auditor
Royal Ten Cate Almelo, The Netherlands, Friday, 6 February
2015
For further information: TenCate corporate Gert Steens, investor
relations Telephone : +31 (0)546 544 977
Mobile : +31 (0)621 597 411
E-mail : ir@tencate.com
Internet : www.tencate.com
Royal Ten Cate (TenCate) is a multinational company that
combines textile technology with chemical processes and material
technology in the development and production of functional
materials with distinctive characteristics. TenCate products are
sold throughout the world. Systems and materials from TenCate come
under four areas of application: safety and protection; aviation
and aerospace; infrastructure and the environment; sport and
recreation. TenCate occupies leading positions in protective
fabrics, composites for aviation and aerospace, antiballistics,
geosynthetics and synthetic turf. TenCate is listed on Euronext
(AMX).
Press release as PDF
http://hugin.info/130798/R/1892402/670310.pdf
HUG#1892402
KT (NYSE:KTC)
過去 株価チャート
から 8 2024 まで 9 2024
KT (NYSE:KTC)
過去 株価チャート
から 9 2023 まで 9 2024