Hydratec Industries (HYDRA) H1 2024 earnings summary

Executive summary

• Revenue for H1 2024 rose 2.8% year-over-year to €137.5 million, with improved margins and lower operating costs excluding non-recurring items.

• Normalised operating result increased by €2.8 million to €13.6 million compared to H1 2023.

• Net result attributable to shareholders was €8.7 million, up from €4.2 million in H1 2023.

• Order book remains strong despite increased uncertainty from higher interest rates and geopolitical tensions.

Financial highlights

• Gross margin increased to €74.9 million from €70.5 million year-over-year.

• Operating result (EBIT) rose to €11.7 million from €6.3 million in H1 2023.

• Earnings per share doubled to €6.66 from €3.24 year-over-year.

• Cash flow from operating activities was €18.7 million; net cash flow was negative at -€1.8 million.

• Solvency ratio improved to 45.7% from 35.0% at H1 2023.

Outlook and guidance

• No concrete statements for 2024 due to macroeconomic volatility, trade restrictions, supply chain uncertainties, and geopolitical risks.

• Well-filled order book and strong demand in food, health, and mobility markets.