At €169 million, Hydratec’s revenue was slightly higher than last year (€162 million). Revenue of the Agri & Food companies, in particular, increased. At 52.9% the gross margin increased in comparison to last year (52.4%). The operating profit amounted to €8.3 million and was somewhat higher than in 2016, but in that year non-recurring income in the amount of €0.8 million was recognised. As a result of a lower financing burden and lower tax expenses, the net profit attributable to shareholders rose from €5.9 million to €7.1 million in 2017. Shareholders’ equity rose from €48.4 million to €53.4 million, while solvency was 38.6%. The profit per share amounted to €5.60.

Bart Aangenendt (CEO) on the past year:

“In 2017, all companies within Hydratec improved their results. Furthermore, in 2017 significant investments were made in product, production and market development, which has well prepared us for further growth.”

Key figures 2017 vs. 2016

	2017	2016
(millions of euros)
Net revenue	169.3	162.4
Gross margin	89.5	85.1
Operating profit before exceptional income	8.3	7.4
Exceptional income	–	0.8
Operating profit	8.3	8.2
Net profit attributable to shareholders	7.1	5.9
Net profit per share (euros)	5.60	4.72
Dividend per share (euros, 2017 proposed)	2.25	1.70
Solvency ratio	38.6%	40.8%

2017 Annual Report

The 2017 Annual Report will be published on Thursday 5 April 2018. The audit currently has not yet been fully completed.

Proposed Dividend

In the Annual Meeting of Shareholders of 30 May 2018, a proposal will be presented to pay a dividend of €2.25 per share in accordance with the policy that calls for at least 40% of the net profit (excluding non-recurring income) to be paid to shareholders annually. This represents an increase of 32% in comparison to last year (€1.70).

Outlook for 2018

The order intake is encouraging and the order book is well-filled. As always, macroeconomic developments, such as volatile exchange rates and Brexit, for example, have an impact on the demand for our products. In part for these reasons, we consider it premature to make any statements at this point in time about the potential 2018 result.

Hydratec Industries NV Profile

Hydratec is a listed, globally operating specialist in industrial systems and components, with a focus on the markets in the Agri & Food, Automotive and Health Tech sectors, and has two core activities:

Agri & Food Systems: Design and production of systems by:
Pas Reform Hatchery Technologies in Zeddam (NL) and
Lan Handling Technologies in Tilburg (NL) and Halfweg (NL)

Plastic Components: Design, production and assembly of plastic components by:
Timmerije in Neede (NL) and
Helvoet Rubber & Plastics Technologies with production facilities in Hellevoetsluis (NL), Tilburg (NL), Lommel (BE), München (DE), Pune (IN) and Kaniow (PL).

Hydratec Industries is listed on the NYSE Euronext Amsterdam NV stock exchange (ISIN NL0009391242, ticker: HYDRA).