Lower operating result from substantially higher revenue
Revenue up to and including the 3rd quarter was substantially higher than for the same period in 2014 in part due to the acquisition of Helvoet and Abar. The acquisitions resulted in a balance sheet increase with satisfactory solvency. The recent acquisitions are performing according to plan. Operating result is still considerably lower than for 2014 due to Agri & Food Systems achieving lower revenue and margins. Plastic Components’ operating result rose.
Agri & Food Systems
After a mediocre first half of the year both organic revenue and operating result increased. As a result, revenue over the first three quarters of the year was at the same level as for 2014 but, as anticipated, the operating result was down due to a lower margin. The participation in Brazil, where the Real came under considerable pressure during the 3rd quarter, was confronted with currency translation losses.
Compared with last year Plastics Components’ revenue increased, both organically and through the acquisition of Helvoet Rubber & Plastics Technologies. The increase in the operating result compared to 2014 continued in the 3rd quarter. Euro Mouldings was sold to Wadinko on 1 October and since the start of the 4th quarter has no longer been consolidated.
Despite a disappointing operating result this year, the forecast for the 4th quarter is positive with higher revenues and, in particular, better margins. Agri & Food Systems’ order intake has increased and the order book is well-filled with attractive projects for which better margins are expected to be achieved. Plastics Components’ order book is also well-filled. In addition, a book profit has been achieved on the sale of Euro Mouldings.
Profile Hydratec Industries NV
Hydratec is a 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:
1. Agri & Food Systems:
- Pas Reform Hatchery Technologies in Zeddam
- LAN Handling Systems / ABAR Automation in Tilburg and Halfweg
2. Plastics Components:
- Timmerije in Neede
- Helvoet Rubber & Plastics Technologies 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.)