Industrial Systems

The revenue in the first quarter for Industrial Systems was significantly higher than in the first quarter of 2023. This led to a sharply higher result for Industrial Systems compared to Q1 of 2023. Last year, the last two quarters were particularly strong due to project deliveries. The revenue of Industrial Systems has a strong project-based nature, and the results can fluctuate per quarter and year.

Hightech Components

The revenue at Hightech Components in the first quarter was significantly lower than in the first quarter of 2023 and stable compared to the last quarters of last year. The percentage margin was modestly higher compared to the first quarter of last year and 2023. Due to the lower revenue, the operational result at Hightech Components was sharply lower than the result of the good first quarter of last year.

Bart Aangenendt, CEO of Hydratec: "After a good result in 2023, we started this year with a well-filled order book. The increased interest rates and geopolitical uncertainty have caused a hesitancy in investment willingness. For now, the order book has remained well-filled and we can speak of stable developments at Hydratec. For further development of Hydratec Industries, a stock listing is no longer desirable. Therefore, in January 2024, an agreement was reached with Ten Cate Investment Company on a recommended public tender offer aimed at terminating the stock listing."

Expectations for Fiscal Year 2024
Hydratec Industries began 2024 with a good order book. The market position of the companies, each in their own niche, remains strong. However, due to macroeconomic and geopolitical developments and the uncertain impact of these on our markets, it is not possible to make concrete statements about 2024.

 

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