Despite recent acquisitions, Hydratec Industries’ revenue did not increase in comparison to the first quarter of 2019. Food & Industrial Systems experienced a very good first quarter last year, while company revenue declined in 2020. Due to this disappointing revenue, Hydratec Industries’ operating profit substantially declined.

At Plastic Components, the operating profit for the first quarter was slightly higher than last year. Margins were marginally higher and costs were slightly lower with slightly lower revenue. The production stops invoked by many car manufacturers caused a high level of uncertainty in the automotive market, however. Spending in other markets also declined. The medical market is increasingly interested in the joint developments of point of care diagnostic solutions.

At Food & Industrial Systems the year started off on a disappointing note with appreciably lower revenue in each company in comparison to the first quarter of 2019. By contrast, the first quarter of 2019 was very good for Food & Industrial Systems. Due to global measures relating to the COVID-19 virus, it was not possible to complete projects and new projects were deferred. The order intake at Food & Industrial Systems was at a respectable level in the first quarter, but unequally distributed across the different companies.

Bart Aangenendt, CEO of Hydratec: “The global outbreak of the COVID-19 pandemic has created major uncertainties for our employees and customers. Naturally, the safety of our employees is our highest priority. The pandemic is expected to have a negative impact on our revenue, operations, profit and cash flows. Various measures have 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.”

Annual Report and AGM

The 2019 Annual Report will be published on 8 May 2020. In addition, the General Meeting of Shareholders of Hydratec Industries N.V. will be held on 26 June 2020. 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).