Product and market development

Industrial Systems

Key market developments

Within Industrial Systems, Food is the most significant end market. Sub-markets are the global poultry, convenience food and animal feed sectors, and the construction of water supply systems. With 11 offices in the Netherlands, United States, India and Brazil, we generated revenue in 101 countries in 2025 (2024: 100) amounting to €157.8 million (2024: €155.9 million). 97% of revenue was achieved outside the Netherlands (2024: 95%).

General

We are achieving a good spread of products across different countries and customers in the sub-markets for Industrial Systems. Customers around the world continued to show reluctance to invest in 2025, in view of the wars, armed conflicts and international tensions on Europe’s doorstep. But also trade restricted measures such as import tariffs led to uncertainty in the market. We saw that decisions took longer to make as a result, although the strategic need of investing in automation and materials-saving solutions did not decrease. All in all, we saw that the revenue decrease in Asia and South America was offset by a revenue increase in Africa. Europe and North America remained stable.

By the end of the year, our order book’s status showed a limited decrease compared to that at the end of last year.

Poultry market

In the poultry market for Royal Pas Reform, revenue from hatchery systems for chickens showed a marked decrease in 2025, yet Royal Pas Reform achieved a good result in 2025 through strict cost control. In the United States in particular, after high revenue in 2024, revenue and order intake sharply decreased. In Asia and Africa, revenue increased sharply. To stimulate growth in the vaccination market, Pas Reform acquired the remaining 45.5% stake in Brazilian company ION in 2025. Poultry is a very project-oriented market, where revenue and therefore results vary considerably from year to year. Under the new leadership of Diana Roijmans, the focus lies on growing revenue through new products and services.

Animal feed and convenience

Revenue in the animal feed and convenience sector for LAN Handling Technologies increased markedly.  The spread across different customers has improved. We again added some appealing customers to the portfolio in 2025. After a hesitant start of the year, order intake picked up again at the end of the year, despite challenging market conditions. Throughout the year, a great deal of energy went into preparing for the introduction of a new ERP system that will enable the internal organisation to make better decisions faster. In early 2025, Ruben Jakobs assumed leadership of LAN Handling Technologies and is committed to continuing work to develop new sub-markets and services.

Water supply systems

Rollepaal’s revenue from pipe extrusion systems showed a marked increase in 2025 for the third year in a row. PVCO is beginning to gain ground in more and more markets, resulting in an increase in orders both in the USA and in India. Much of Rollepaal’s focus was on innovation through the smart application of Vision Technology, among other things, in the product portfolio. Rollepaal unveiled an in-line scanner for multi-layer pipes at the triennial K-show in Düsseldorf. The presentation was very well received and is a testament to the company’s innovative spirit.

Onion and potato sector

Through our participating interest in Eqraft®, we also operate in the onion and potato sectors. Thanks to the major projects sold in the USA, revenue from Eqraft® sorting systems increased sharply in 2025. The organisation has been able to scale up revenue. Much attention at Eqraft® has been focused on smart standardisation in the product portfolio, sourcing and project execution. This means that Eqraft® can offer a comprehensive range of customer-specific solutions based on the latest AI-powered vision technology.

Hightech Components

Hightech Components’ most important markets are Mobility and Health. The components were exported to 34 countries in 2025 (2024: 32), resulting in revenue of €107.1 million. That is a limited decrease compared to 2024 (€115.0 million).

Mobility

There was turmoil in the Mobility market in 2025 due to disappointing sales, not to mention the turmoil created by import tariffs and export restrictions. The advance of electric or even autonomous vehicles now seems to be slowing down. This has led to increased competition in this market segment. The Mobility market is experiencing a peculiar dynamic and has yet to show any signs of stability The market has seen major unrest, including mass redundancies among our customers. Despite this challenging market situation, Mobility’s revenue fell significantly compared with 2024.

Health

Revenue in the Health market increased significantly in 2025 and shifted to the more complex assemblies with more added value. In particular, regular high-volume production for new applications for reputable customers increased considerably in 2025. This development also resulted in other engineering assignments from renowned customers in the medical sector. The rising demand for smart sampling methods with ‘smart consumables’ ideally positions Helvoet for various health-tech applications, such as medical cartridges, point-of-care instruments and diagnostic devices. The speed of further growth here is strongly determined by how quickly new solutions can get to market.

Revenue at Helvoet declined significantly in 2025, partly owing to the Mobility market. Also, in the Netherlands, production was shut down in Hellevoetsluis last year and there were no more last-time-buy orders. In addition, the exchange rate of the Indian rupee has had a negative impact on consolidated revenue in euros. As budgeted, the various relocations also incurred one-off costs in 2025; however, we can fully benefit from the efficiency and cost benefits of the closure in 2026.

Timmerije saw a marked increase in product revenue in 2025. After a decline in 2024, revenue increased again partly thanks to recovery among existing large customers. New products with existing customers also contributed to revenue. Furthermore, we added some new customers whose revenue potential has not yet been fully realised. The continued restraint in business and consumer spending eased over the year. The organisation has been further strengthened in certain areas to prepare it to cope with future growth.

The management report as referred to in Part 9 of Book 2 of the Dutch Civil Code monitors the elements from the foreword to the historical summary inclusive. This version of the annual financial reporting of Hydratec Industries N.V. for the financial year ending on 31 December 2025 is not presented in the ESEF format as specified in the regulatory technical standards for ESEF (Delegated Regulation (EU) 2019/815). The set of ESEF reports can be downloaded at the download page.