Hydratec Industries: higher result despite lower revenue.
21 August 2025
AMERSFOORT – Hydratec Industries’ revenue of €127.5 million in the first half-year is 7.3% higher than that in the first half of 2024. Since the margin as a percentage of revenue increased, the absolute margin only fell by 1.2%. Due to a decrease in operating costs, the operating result rose from €11.7 million in the first half of last year to €13.0 million this year. Normalised for non-recurring effects, the operating result was the same as last year. The result from participating interests was positive thanks to the good result posted by our new acquisition Eqraft. This put the net result at €10.5 million, compared to €8.7 million last year.
Key figures
|
First half of 2025 |
First half of 2024 |
|||
|
Revenue |
127,513 |
137,495 |
||
|
Gross margin |
73,970 |
74,851 |
||
|
Gross margin as a % |
58.0% |
54.4% |
||
|
Normalised operating result* |
13,551 |
13,576 |
||
|
Operating result (EBIT) |
12,982 |
11,670 |
||
|
Operating result (EBIT) as a % |
10.2% |
8.5% |
||
|
Share of result from participating interest |
665 |
- |
||
|
Net result attributable to shareholders |
10,480 |
8,651 |
||
|
Investments in tangible/intangible fixed assets |
1,549 |
3,736 |
||
|
Solvency ratio |
50.3% |
45.7% |
- *Normalisation relates to project costs in preparation for the closure of the Helvoet site in Hellevoetsluis (first half of 2025: €0.5 million, first half of 2024: €0.9 million), acquisition costs (first half of 2025: €0.1 million) and Hydratec delisting process costs (first half of 2024: €0.9 million).
Bart Aangenendt, Co-CEO of Hydratec Industries: “Revenue fell at both segments in the first half of the year, but we still achieved a good result. Industrial Systems’ order book showed a limited decrease due to the uncertainties in the market. At Hightech Components, too, there are uncertainties around import tariffs, among other things. Eqraft, in which we acquired a 60% stake at the end of 2024, made a sound contribution to our net result. Thanks to our strong market position, we saw our relative margins rise, as the need for food, health and mobility remains consistently high.”
Industrial Systems
|
First half of 2025 |
First half of 2024 |
|||
|
Revenue |
74,041 |
78,212 |
||
|
Gross margin |
41,160 |
39,692 |
||
|
Gross margin as a % |
55.6% |
50.7% |
||
|
Normalised operating result |
11,645 |
11,092 |
||
|
Operating result (EBIT) |
11,645 |
11,092 |
||
|
Operating result (EBIT) as a % |
15.7% |
14.2% |
Revenue at Industrial Systems fell to €74.0 million, down 5.3% on the first half of last year. This revenue drop in the first half of this year is mostly explained by last year’s fulfilment of major orders from the US. The gross margin as a percentage increased compared to 2024. As a result, the absolute margin was also up, despite the revenue drop. Our strong market positions allowed us to pass on the rising costs for new projects in particular. Operating costs were only modestly higher than last year, despite the limited increase in salary costs. This led to an operating result of €11.6 million (15.7% of revenue) over the first half of the year, compared to €11.1 million (14.2%) last year.
The project-based nature of the activities can lead to significant fluctuations in revenue and results. The uncertainty over various import tariffs, currency exchange rate fluctuations and increased geopolitical tensions have worsened the investment climate. The order book showed a limited decrease and investment decisions are taking longer.
Hightech Components
|
First half of 2025 |
First half of 2024 |
|||
|
Revenue |
54,163 |
59,605 |
||
|
Gross margin |
32,811 |
35,160 |
||
|
Gross margin as a % |
60.6% |
59.0% |
||
|
Normalised operating result |
3,250 |
3,572 |
||
|
Operating result (EBIT) |
2,742 |
2,604 |
||
|
Operating result (EBIT) as a % |
5.1% |
4.4% |
Over the course of last year, certain structural efficiency measures were implemented to increase profitability in due course. It was decided to have fewer locations with higher revenue per location, and certain activities have been ceased. Furthermore, the reduction of additional customer inventory levels has now almost been completed. Together, this led to a 9.1% drop in revenue at Hightech Components compared to the same period last year. Revenue totalled €54.2 million over the first six months, compared to €59.6 million in 2024. The gross margin expressed as a percentage of revenue was higher than in the first half of 2024. Despite inflation, operating costs showed a marked decline, mainly on the back of the efficiency measures that were taken. Due to the lower revenue, the operating result corrected for non-recurring effects was lower than last year. The operating result came in at €2.7 million (5.1% of revenue). The uncertainty over various import tariffs and increased geopolitical tensions have worsened the investment climate, making new projects more uncertain.
Expectations for 2025
Hydratec Industries got the year off to a good start and has a well-filled order book. In view of macroeconomic developments, such as volatile exchange rates, trade restrictions, supply chain uncertainties and rising geopolitical tensions, we are unable to make any concrete statements about 2025.
2025 half-year report available online
This half-year report is also available on the website www.hydratec.nl. The figures in the half-year report have not been audited.
Bart Aangenendt
Co-CEO
Hydratec Industries NV is listed on the Euronext Amsterdam stock exchange (ISIN NL0009391242, ticker: HYDRA.)
Mr Bart Aangenendt
CEO Hydratec Industries NV
Phone: +31 33 469 73 25
Email: info@hydratec.nl
Website: www.hydratec.nl
