Even though Fruitmasters had a slighter higher turnover in 2016, their net results were somewhat lower: 129.000 euro versus 464.000 in 2015. "We have invested in new IT-software, the modernised pear we cultivate at our Geldermalsen location and the modernisation of the Ochten location's logistics", the company stated. In addition, a one-time correction on the GMO of € 589,000 produced a good result.
"Looking back on 2016, we see a clear distinction between the soft and hard fruit categories. Soft fruit growers had a good to excellent year. Hard fruit growers, on the other hand had a difficult year. After the Russian boycott, this sector had to reinvent itself. This question now is what kind of innovation is needed within this area of cultivation to keep these companies profitable. We are focusing our attention on the expansion of concepts and protecting cultivation. Added to this, the reduction of costs is always on the agenda", says Chairman, Rien van Doorn.
"2016 was a reasonable year financially for FruitMasters. The effects of the Russian boycott were still seen this year - in the results of the hard fruit growing companies and our own results. The moderate price of apples and pears has meant pressure in the packing station because of poorer quality. This, in turn, had an impact on FruitMasters' returns. The good prices and growth of soft fruit had a positive effect on our results", the company explained. The Russian boycott impacted the area of the low-wage work force in west-European markets.
FruitMasters Deutschland GmbH had a positive contribution to the group's results for the year in review. Furthermore, two inactive contributors were liquidated in the current year. This gives a positive spin to the results. The balance sheet total was lower, primarily due to an improvement in working capital. This improvement was partly due to a decrease in short-term receivables. This was done to focus attention on the required working capital. The most important reason for the decrease in net financial debt was a reduction in short-term bank debt. Due to, among other things, the optimization of the aforementioned working capital, the cash flow from operational activities improved. The 2016 harvest filled up cold storage facilities.
"Looking back on 2016, we see a clear distinction between the soft and hard fruit categories. Soft fruit growers had a good to excellent year. Hard fruit growers, on the other hand had a difficult year. After the Russian boycott, this sector had to reinvent itself. This question now is what kind of innovation is needed within this area of cultivation to keep these companies profitable. We are focusing our attention on the expansion of concepts and protecting cultivation. Added to this, the reduction of costs is always on the agenda", says Chairman, Rien van Doorn.
"2016 was a reasonable year financially for FruitMasters. The effects of the Russian boycott were still seen this year - in the results of the hard fruit growing companies and our own results. The moderate price of apples and pears has meant pressure in the packing station because of poorer quality. This, in turn, had an impact on FruitMasters' returns. The good prices and growth of soft fruit had a positive effect on our results", the company explained. The Russian boycott impacted the area of the low-wage work force in west-European markets.
FruitMasters Deutschland GmbH had a positive contribution to the group's results for the year in review. Furthermore, two inactive contributors were liquidated in the current year. This gives a positive spin to the results. The balance sheet total was lower, primarily due to an improvement in working capital. This improvement was partly due to a decrease in short-term receivables. This was done to focus attention on the required working capital. The most important reason for the decrease in net financial debt was a reduction in short-term bank debt. Due to, among other things, the optimization of the aforementioned working capital, the cash flow from operational activities improved. The 2016 harvest filled up cold storage facilities.
The year ended with reasonable pricing and the outlook is even better. For FruitMasters, 2016 was a year of expanding their sales channels and investments focused on the future prospects of growers. The dynamic soft fruit market, focusing on the repair of hard fruit cultivation sector and the innovation of the supply chain provides new opportunities in the market. FruitMasters has built long-lasting relationships with its clients. These diverse clients, both at home and abroad, ensure distribution throughout the season.
FruitMasters plans to distinguish itself even more with brands such as Kanzi®, Migo®, Prestige and Bob's.