Key figures first half of 2015
|Figures in € 1 1.000 unless stated otherwise||
1st half of 2015
1st half of 2014
|Net profit of discontinued activities||–||3,307|
|Net profit to be allocated to shareholders||490||4,486|
|Net profit continued activities per share (in €)||0.40||0.97|
|Net profit per share (in €)||0.40||3.67|
No audit has been carried out
Revenue and results for the first half of 2015:
At € 42.3 million, consolidated revenue for the first six months of 2015 was 8% lower than for the same period in 2014 (first half of 2014: € 46.0 million). Although the gross margin rose to 45.8% of revenue (was 44.4%), due to the drop in revenue both operating profit and net profit fell.
During the first half of 2015 the Agri & Food Equipment activities achieved revenue of € 21.5 million – a drop of 18% compared with the previous year. This was due to Pas Reform being unable to carry out as many projects because, as had been anticipated, reticence in emerging markets resulted in fewer orders being received. The two Plastics companies achieved revenue of € 21.2 million, an increase of 4%.
Operating profit fell to € 1.2 million (first half of 2014: € 2.3 million), which equates to 2.7% of revenue. Due to the lower revenue Agri & Food Equipment achieved operating profit of € 0.1 million (first half of 2014: € 1.4 million. The Plastics companies’ operating profit rose to € 1.7 million compared with € 1.4 million in 2014.
Hydratec’s total net profit fell to € 0.8 million. In 2014 the net profit amounted to € 4.9 million of which € 3.3 million was related to the sale of Danielson. After deduction of third party interests the net profit for shareholders amounted to € 0.5 million.
Forecast for the whole of 2015
Thanks to a well-filled order book we expect the Agri and Food Equipment revenue and result will be higher during the second half of the year than it was during the first half of the year. The recent acquisition of ABAR Automation has reinforced LAN Handling Systems. The two companies will be integrated during the second half of this year. We also anticipate significantly higher revenue from the Plastics companies in the second half of the year due to the recent acquisition of Helvoet. As a result we forecast that Hydratec’s operating profit during the second half of 2015 will be higher than during the first half of the year.
Hydratec’s Half-year Report can be viewed on the Company’s website: www.hydratec.nl
Profile Hydratec Industries NV (Hydratec)
Hydratec is an industrial holding company with company’s engaged in the following sectors:
- 1. The design and manufacture of Agri & Food Equipment by Pas Reform Hatchery Technologies in Zeddam (NL) and LAN Handling Systems / ABAR Automation in Tilburg (NL) and Halfweg (NL).
- 2. The design, manufacture and assembly of plastic components and packaging by Helvoet, Timmerije and Euro Mouldings, with production facilities in the Hellevoetsluis (NL), Tilburg (NL), Lommel (BE), Munich (DE)Pune (IN). Neede (NL) and Nijverdal,
Hydratec Industries is listed on the NYSE Euronext Amsterdam NV (ISIN NL0009391242, ticker: HYDRA.)