Kendrion reports strong first quarter with increased profitability

Kendrion N.V. confirms that all resolutions that were brought up for vote were adopted by the general meeting of shareholders earlier today.

Kendrion today announced that it has entered into an agreement to sell its Automotive business in Europe and the United States to Solero Technologies LLC (“Solero Technologies”) and affiliates.

Solid year in a challenging market environment, ready for economic rebound in 2024

Kendrion protects profitability and cashflow amidst economic slowdown

Following the press release of 29 August 2023, Kendrion reports that it has fully resumed operations following the recent cyber incident. On 29 August 2023, Kendrion reported the identification of a cyber security incident involving unauthorized third-party access to certain of the company’s IT systems. Upon becoming aware of the incident, the company immediately shut down all affected IT systems to contain the incident, engaged leading cyber security experts, and activated its response protocol, including contingency plans to continue operations without these systems. Today Kendrion has restored all key IT systems, ensuring minimal disruption for customers and employees. The incident has had no significant impact on our customer deliveries and is not expected to have a material impact on the company’s financial results. Kendrion is assessing the extent to which data has been lost or compromised.

Kendrion has recently identified a cyber security incident which involves an unauthorized third party that has gained access to the Company’s systems. Immediately upon becoming aware of the incident, the Company took down all its systems to contain the incident. The Company has activated its response protocol, which includes contingency planning to continue operations. Investigations are ongoing with the support of leading third-party cybersecurity experts. Based on the current status of the investigation, the Company cannot rule out that the unauthorized party has obtained data from its systems. More information will be disclosed if and when appropriate or required.

Kendrion demonstrates resilience in deteriorating market circumstances

In an interview with Beleggers Belangen, CEO Joep van Beurden expresses his enthusiasm for the new factory in China, highlighting the positive impact it will have on strengthening Kendrion's position in the region. The company has shifted its focus to energy-clean applications, with wind turbines, electric vehicles, and robotics already contributing to 65% of their total turnover.