Hydratec’s revenue considerably higher than in the first quarter of 2015
Hydratec’s revenue in the first quarter of 2016 was considerably higher than in the same period last year. This increase was due on the one hand to Helvoet and Abar which were acquired in July 2015 and were not, therefore, consolidated in the first half of last year, and on the other hand to substantial organic growth as a result of a greater number of systems being delivered by the Agri & Food Systems core activity. The higher revenue also led to an increase in Hydratec’s operating profit and net result.
Agri & Food Systems’ activity was clearly higher than in the comparable period in 2015. Thanks to well-filled order books more projects were carried out and delivered. In addition, the margins on these projects were better than in the same period last year. Some of the projects were for new clients in countries in which no previous projects had been delivered. The market position in North America was strengthened further. The Eastern-European market stabilised, but the Asian and South American markets remained reticient. The continued positive development of the pet food market resulted in the order book for this group of clients remaining well-filled. The number of projects completed during the second quarter is expected to be lower.
Thanks to the acquisition of Helvoet in 2015 and despite the sale of Euro Mouldings, overall Plastic Components’ activity was higher than in the same period last year. On top of that, the focus shifted more towards the important Automotive and Health Tech markets. The revenue and margin of the continued companies rose slightly compared to 2015. Most of the revenue increase was generated by the existing product range. Important orders for the future production of new components were also received from both existing and new clients. A comparable level of activity is anticipated in the second quarter.
Profile Hydratec Industries NV
Hydratec is a stock exchange listed, globally operating specialist in industrial systems and components with a focus on the Agri & Food, Automotive and Health Tech markets. Hydratec has two core activities:
Agri & Food Systems. The design and production of systems by:
Pas Reform Hatchery Technologies in Zeddam and
Lan|Abar Handling Technologies in Tilburg and Halfweg
Plastic Components. The design, production and assembly of plastic components by:
Timmerije in Neede and
Helvoet Rubber & Plastics Technologies with production facilities in the Netherlands (Hellevoetsluis and Tilburg), Belgium (Lommel), Germany (Munich) and India (Pune).
Hydratec Industries is listed on the NYSE Euronext Amsterdam NV (ISIN NL0009391242, ticker: HYDRA.)