Hydratec: Increases in turnover and profits bring higher dividends
The consolidated turnover of Hydratec Industries NV(Hydratec) over 2012 increased by 43% to €120 mio. Of which € 61 mio was realized by the Agri & Food companies Pas Reform Hatchery Technologies and LAN Handling Systems) which were acquired year end 2011.
The EBIT amounted to € 7,1 mio. (from € 5,5mio over 2011). The Agri & Food companies contributed € 4,2 mio.
Net Profit was € 5,4 mio. (vs. € 4,2 mio over 2011).
Profit per share increased to € 3,84 (from € 3,07 over 2011) .
Roland Zoomers (CEO) over last year results:
During the first half both turnover and profits still increased, but after the summer the effects of the economic slow-down clearly caused lower order intakes at all the companies. During the final quarter this situation stabilized. Over 2013 the Agri & Food companies are consolidated for the full year and therefore our turnover and profits are substantially higher. Therefore also our profit per share again increased. And because the Agri & Food companies are generating almost 90% of their turnover in “emerging markets” we are less dependent on the economic developments here in Europe.
Key figures 2012 vs. 2011
| 2012 | 2011 | |
| ( in millions of Euros ) | ||
| Net Turnover | 120.0 | 84.2 |
| Gross Margin | 48.7 | 37.1 |
| Earnings before Interest and Tax (EBIT) | 7.1 | 5.5 |
| Net Result | 5.4 | 4.2 |
| Net Result for shareholders | 4.7 | 3.6 |
| Net Earnings per Share (in Euros) | 3.84 | 3.07 |
2012 Annual report
The 2012 annual report will be published on Thursday April 11th.
Dividend proposal
In the annual meeting, to be held on May 30st 2013, a dividend pay-out of € 1.55 per share (vs € 1.20 over 2011) will be proposed to the shareholders. This in line with the company policy to pay out annual dividends of at least 40% of net earnings.
Expectations for 2013
We are experiencing much uncertainty at our customers, who are therefore ordering less than at same periods last year. This is especially the case in the west-european markets. But globally, for our Agri & Food businesses, the high feedstock pricing are slowing down investments in new equipment and machineries. We therefore expect, especially for the first half of the year, no increases in turnover. We must remain extremely cost conscious to protect our profit levels.
The Hydratec companies have solid financial structures and we keep investing in their production and organizations.
However we believe it is still to early to express clear expectations about the expected results for this year.
Profile Hydratec Industries NV (Hydratec)
Hydratec is an industrial holding company with companies engaged in the following sectors:
- Design, development and production of Agri & Food Equipment by Pas Reform Hatchery Technologies (Zeddam, Holland) en LAN Handling Systems (Tilburg, Holland)
- Design, development and production of Man Machine Interfaces (MMI) by Danielson Europe (Hardenberg, Holland and Ayelsbury, UK)
- Design, development and production of plastics-parts and-packaging by Timmerije (Neede, Holland) and Euro Mouldings (Nijverdal, Holland)
Hydratec Industries is listed at NYSE Euronext Amsterdam NV (ISIN NL0009391242, ticker: HYDRA.)