TenCate has the following qualitative and financial objectives.


The qualitative objectives of TenCate are: 

  • Value creation for shareholders. Making optimal use of the resources available, taking into account the company’s social, ecological and economical responsibilities 
  • Growth. Creating a critical mass by occupying leading positions in specialist market niches 
  • Healthy financial position with sufficient strength to undertake acquisitions 
  • Balanced portfolio of activities. Product-market combinations differ in terms of growth potential and risk profile 
  • Open company culture. Promoting an open culture for progress and innovations 
  • Solution driven. A commercial organization that thinks in terms of systems (solutions) instead of the traditional role of the provider of materials or components (for the system)


The financial objectives of TenCate are: 

  • The net capital employed must generate a sufficient return. The operating result before amortization as a percentage of net capital employed must be at least 15% 
  • The financial position must be sufficiently solid. The ratio of net interest-bearing debt to operating result before amortization and depreciation (EBITDA) must be structurally lower than 2.5
  • Long-term growth. The long-term growth of net earnings per share before amortization must be at least 10% 
  • An appropriate profit margin must be achieved. The EBITA margin should gradually rise to at least 10%
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