TenCate: First Half Figures
Revenues in the second quarter of 2011 of Royal Ten Cate nv (TenCate), Almelo, Netherlands, increased by 19% to EUR 313.6 million. The operating result before amortization of intangible fixed assets (EBITA) rose by 20% to EUR 36.0 million. The Ebita margin in the second quarter remained the same throughout the group (11.5%). Net profit rose by 17% to EUR 23.2 million in the second quarter.
As a result of the restrained investment policy, investments in fixed assets remained at a relatively low level (EUR 13.3 million). The balance of financial income/expenses remained almost the same at EUR 5.7 million (2010: EUR5.4 million). The interest-bearing debt amounted to EUR319 million. The ratio of debt to Ebitda was 2.24 at the end of June. Earnings per share rose by 67% to EUR 1.30 in the first half-year.
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