Thursday 2 April 2020, 09:00
In connection with COVID-19, Hydratec Industries is deferring publication of the annual report
The exceptional circumstances caused by the COVID-19 pandemic entail many disruptions and uncertainties, including the effect and impact of the government measures announced on 30 March 2020. This means that activities relating to the annual report and financial statements are still in progress. As a result, it is currently not possible for Hydratec and its external auditor to complete the annual report. For this reason, the planned 2 April publication date has been deferred.
COVID-19
The global outbreak of COVID-19 creates uncertainties and is expected to negatively impact the revenue, operations, profit and cash flows of Hydratec Industries in 2020. Within the Plastic Components companies, the revenue of the Automotive sector continues to decline and within Food & Industrial Systems, companies are having difficulties completing projects due to global travel restrictions. If applicable, use will be made of the Temporary Emergency Bridging Measure for Sustained Employment (NOW) and the deferral of income taxes and social insurance contributions. Furthermore, various other measures have already been implemented or are currently being prepared. A cost reduction programme is being implemented and investments that are not necessary to keep the operation running will be deferred.
AGM
In addition, it was decided to defer the General Meeting of Shareholders of Hydratec Industries N.V. scheduled for 28 May 2020. A new Annual General Meeting will be held on a date still to be determined. This meeting will be invoked in accordance with the applicable rules.
Hydratec Industries NV Profile
Hydratec is a listed, globally operating specialist in industrial systems and components and has two core activities:
- Food & Industrial Systems: Design and production of systems by:
- Royal Pas Reform Hatchery Technologies in Zeddam (NL)
- Lan Handling Technologies in Tilburg (NL) and Halfweg (NL)
- Stork Plastics Machinery in Hengelo (NL)
- Rollepaal Holding in Dedemsvaart (NL)
- Plastic Components: Design, production and assembly of plastic components by:
- Timmerije in Neede (NL)
- Helvoet Rubber & Plastics Technologies with production facilities in Hellevoetsluis (NL), Tilburg (NL), Lommel (BE), München (DE), Pune (IN), Kaniow (PL) and Wroclaw (PL)
Hydratec Industries is listed on the NYSE Euronext Amsterdam NV stock exchange (ISIN NL0009391242, ticker: HYDRA).