Hydratec: better than expected results during 3rd quarter.
Turnover during the third quarter was at same level as last year, but because of a better gross margin, the EBIT increased. However the decreases in turnover from previous quarters could not be compensated for.
Agri & Food Equipment: Demand from the market segments of Pas Reform was weak causing a further decline in turnover as compared to last year. Also deliveries for the large Russian Cherkizovo project were partly postponed because of delays in construction of the local facilities. There is no uncertainty about the total completion of the project. LAN delivered a good number of projects and also booked substantial new orders. Thus turnover and earnings at LAN increased over last year.
Man Machine Interfaces: At Danielson we still see no improvements in the market demand resulting in lower than expected turnover and a decline in earnings. Newly developed products were very well received with potential customers, but it will take time before these will generate substantial additional turnover.
Plastics: Demand at Euro Mouldings increased so that a turnover level almost at last years level resulted. Timmerije benefitted from the structural changes implemented earlier this year, but demand from its customers remained weak. Total turnover of Plastics was at last years level, but the earnings improved.
We anticipate an EBIT for the second half which will be much better than that over the first half of the year. But the turnover for the total year will be substantially lower than the previous year. That is why we expect the EBIT to be approx. 30% lower than that over 2013.
Profile Hydratec Industries NV (Hydratec)
Hydratec is an industrial holding company with companies engaged in the following sectors:
- Design, development and production of Agri & Food Equipment by Pas Reform Hatchery Technologies (Zeddam, Holland) en LAN Handling Systems (Tilburg, Holland)
- Design, development and production of Man Machine Interfaces (MMI) by Danielson Europe (Hardenberg, Holland and Ayelsbury, UK)
- Design, development and production of plastics-parts and-packaging by Timmerije (Neede, Holland) and Euro Mouldings (Nijverdal, Holland)
Hydratec Industries NV is listed at NYSE Euronext Amsterdam NV (ISIN NL0009391242, ticker: HYDRA.)
Hydratec Industries NV
Tel: +31 33 469 73 25