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Kendrion contact
Head Office
Kendrion N.V.
Vesta Building - 5th floor
Herikerbergweg 213
1101 CN Amsterdam
The Netherlands
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Kendrion contact
Head Office
Kendrion N.V.
Vesta Building - 5th floor
Herikerbergweg 213
1101 CN Amsterdam
The Netherlands
Contact now

"Our main priority is the health and safety of our employees, their families and all other stakeholders"
 

Joep van Beurden, CEO

Status within Kendrion

To date, five of our employees have been infected with COVID-19, all have fully recovered, and we currently have zero known active cases. We have had no instance where one Kendrion employee has infected another.

In all Kendrion's facilities, we have strict operating procedures in place to protect the health and safety of our employees. This procedure includes as many employees as possible working from home, the strict separation of production shifts, maximising the social distance between colleagues, additional cleaning and disinfecting of relevant surfaces, temperature screening and the use of face masks in our factories, where available.

We will keep these measures in place for as long as is needed as we continue to focus on the health and safety of our employees and their families with priority.

Protecting our business

To mitigate the decrease in revenue because of the pandemic, we have put short-time work into effect in several of our European facilities and Kendrion's senior management, including the Supervisory Board, has agreed to a temporary salary reduction of 15%. Discretionary spending has been limited and we have suspended all uncommitted and non-urgent capital expenditure.

Although there are some delays in deliveries in a few areas of our business, our supply chain is currently fully operational. We continuously monitor suppliers that are critical to our supply chain and we are committed to reducing our cash contained in working capital during periods of reduced revenue.

Our liquidity remains strong, with cash levels around EUR 17.5 million and around EUR 50 million in undrawn credit facilities. The leverage ratio based on definitions in the loan documentation was 2.3 at the end of Q1 2020 against a financial covenant level of 3.5 as per 30 June 2020 and 3.0 as from 31 December 2020 onwards.