Key figures	2024	2023	Difference
Revenue	€270.2M	€282.7M	-/-4.4%
Operating result	€25.3M	€22.0M	+14.7%
Net profit	€18.2M	€15.8M	+15.5%
ROI	15.9%	14.2%	+12.0%
Earnings per share	€14.04	€12.11	+15.9%
Solvency ratio	48.4%	42.6%	+13.6%

Industrial Systems

In 2024, revenue for Industrial Systems decreased by 4.3% to €155.3 million. Within this segment, revenue in the poultry market and handling systems markedly decreased, while revenue from pipe extrusion systems increased significantly. Overall, the gross margin increased, both in absolute terms and as a percentage of revenue, as the higher raw material prices could be better passed on. However, operating costs rose, resulting in an operating result for Industrial Systems in line with last year’s level: €24.6 million. In addition, at yearend, Hydratec acquired a 60% stake in Eqraft, a medium-sized company based in Emmeloord that designs, builds, and maintains sorting and packaging lines for potatoes and onions for the international market.

Hightech Components

Revenue at Hightech Components was €115.6 million, ending 4.7% below 2023. The organic decline in revenue was 2.0%, due to the transfer of our German operation to new ownership. Despite challenging conditions in mobility markets, revenue in this sector declined only modestly in 2024. Revenue in the health markets remained stable. Gross margin declined marginally. One-off costs related to the closure of the Hellevoetsluis site also had a negative impact on earnings. The operating result for Hightech Components amounted to €4.0 million, compared to a negative operating result of -/- €0.7 million last year. Adjusted for one-off costs, the operating result for 2024 was €6.1 million, modestly higher than the €5.9 million in 2023.

Bart Aangenendt (CEO) on the past year:

“Looking back at 2024, we see that Hydratec Industries has achieved a strong result despite challenging conditions. The quality of revenue has improved again this year, as evidenced by increased margins and added value among other things. Unfortunately, autonomous revenue declined 3.3% in 2024. In both Hightech Components and Industrial Systems, for various reasons, we are seeing restraint in the various markets we serve. I am pleased with our investment in Eqraft, as it adds a promising fourth activity to the Industrial Systems segment.”

Hydratec Industries

In November, Ms. J. ten Cate and Mr. D.J. Raithel joined the Supervisory Board of Hydratec Industries. Subsequently, Mr. Raithel was elected Chairman of the Board. In addition, at the suggestion of the Management Board, the Supervisory Board decided to fill in the CEO role as a duo. Alongside Bart Aangenendt, Everien Slijkhuis has been appointed as CEO of Hydratec Industries. Complementary skills and improved continuity, among other things, led to this decision. Ms. Slijkhuis has been CFO at Hydratec Industries for more than 6 years. A clear division of responsibilities has been agreed upon. External communication will remain with Mr. Aangenendt.

Dennis Raithel (Chairman of the Supervisory Board):

“The Supervisory Board has unanimously decided to appoint Mr. B. Aangenendt and Ms. E. Slijkhuis as duo-CEO. Over the years, they have demonstrated a strong ability to collaborate and complement each other, leading to well-balanced decision making. We consider them an excellent team to lead Hydratec Industries into the future. We congratulate Everien on her appointment and wish them both success.”

2024 Annual Report

Hydratec Industries will publish its 2024 annual report after the close of trading on Thursday, March 6, 2025. At this time, the audit has not yet been fully completed.

Shareholders’ Meeting

The general meeting of shareholders will be held on 24 April 2025 in Amersfoort.

Dividend Proposal

Earnings per share for 2024 amounted to €14.04. It is proposed to the General Meeting of Shareholders to set the dividend for the 2024 financial year at € 12.00 per share. An interim dividend of € 6.00 has already been paid in July 2024. The final dividend of € 6.00 will also be paid out in cash. This dividend distribution is in line with the policy of distributing at least 40% of the profit after taxes, excluding non-recurring income. The net profit after dividends for 2024 will be added to the other reserves.

Expectations for the 2025 financial year

Hydratec Industries started 2025 with a good order book. The market position of the companies, each in its own niche, remains strong. We expect our investment in Eqraft to contribute positively to the net profit. However, there remains significant geopolitical turmoil causing uncertainty in the markets. We expect no changes in our personnel, investment and financing policies in 2025. However, macroeconomic developments, such as volatile exchange rates, trade restrictions, uncertainties in the supply chain and inflation, it is not possible to provide specific forecasts for 2025.

Bart Aangenendt

CEO

 

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