Stronger revenue and result
Hydratec’s consolidated revenue during the first three quarters of 2018 was stronger than for the same period in 2017. As a consequence operating profit also rose strong.
Agri & Food Systems’ revenue rose sharp and, despite a lower margin, so did its operating profit. Although over half the growth was organic, the acquisition of NatureForm (USA) also contributed towards this result. Order intake was up compared to 2017, which means the order book is well filled.
Plastic Components’ revenue was limited higher than for the same period in 2017 and, as a result, a marked rise in operating profit was achieved. The acquired Polish company, Polmer, contributed towards revenue from September on. The results in the Netherlands were better than expected, but due to ‘dieselgate’ and the electrification of the automobile industry revenue in Belgium was lower and the high salary costs put quite a considerable pressure on the international competitive position. Measures to adjust the Belgian organisation to the current situation are being prepared.
Bart Aangenendt, CEO of Hydratec: “The Agri & Food market in particular is undergoing a major development. Unfortunately the automotive industry is experiencing a difficult period, which has had a negative effect on the order intake. As stated earlier, the expectation is that 2018 will be a good year for Hydratec.”
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: