Hydratec: profitable despite lower turnover

Key financials during first half 2013

All in € 1000,00 unless otherwise mentioned

1st half 2013

1st half 2012
Net-turnover

48.819

59.071
Gross margin

22.006

24.214
EBIT

1.812

3.334
Net Profit

1.150

2.355
Net profit for shareholders

894

2.023
Net profit per share (in €)

0,73

1,66

Turnover and results during 1st half 2013:

Consolidated turnover decreased to € 48,8 mio (€ 59,1 mio Last year). All the operating companies were experiencing lower demand from their customers. It seems evident that the economic crises in Western Europe is the major cause for the reduced demand for our products.  Also for Agri & Food Equipment the worldwide project turnover was lower than last year, mainly because the high nutrion prices caused uncertainty among potential customers. Than situation seems to improve.

While product price levels could be maintained and the fixed costs are well under control, the total gross margin decreased because of the lower turnover levels. Thus EBIT decreased and amounted to € 1,8 mio. (€ 3,3 mln. over 1st half 2012) 3,7% of turnover.(5,6% over 1st half 2012). After minority interests a net profit of € 0,9 mio resulted. (€ 2,0 mln. over 1st half 2012).

Expectation for full year 2013 :

We see not yet any serious improvements in the economic circumstances. But we do see that order levels no longer decline! All our companies are able to keep their customers and book new business at existing customers and win new business. Thus we expect that the turnover over the 2nd half  will at least be at the same level as over the first half. We also expect to make the gross margin. And since there is no reason that costs should be higher an EBIT at least at the same level as over the first half should result.

Profile Hydratec Industries NV (Hydratec)

Hydratec is an industrial holding company with companies engaged in the following sectors:

  1. Design, development and production of Agri & Food Equipment by Pas Reform Hatchery Technologies (Zeddam, Holland) en LAN Handling Systems (Tilburg, Holland)
  2. Design, development and production of Man Machine Interfaces (MMI) by Danielson Europe (Hardenberg, Holland and Ayelsbury, UK)
  3. Design, development and production of plastics-parts and-packaging by Timmerije (Neede, Holland) and Euro Mouldings (Nijverdal, Holland)

Hydratec Industries NV is listed at NYSE Euronext Amsterdam NV (ISIN NL0009391242, ticker: HYDRA.)