Netherlands: Good year for HZPC

HZPC Holland B.V. closed financial year 2011/2012 with a good result. However, the previous year 2010/2011 was a record year with a record turnover, payments and profit. Compared to the previous year the result decreased. Nevertheless the 2011/2012 year was a year with a good result, which without doubt satisfies the objectives set by HZPC for itself. The consolidated turnover amounted to 237 million Euro (290 million Euro last year) and the company result was 5.7 million (11.3 million the previous year)
After tax a net profit of more than 4.4 million Euro resulted (8.6 million Euro the previous year). The share of the participating companies in this result was 3.8 million Euro (4.5 million Euro the previous year). HZPC Holland share decreased more compared to last year. The trade on the Dutch part was not as profitable for HZPC. The Dutch growers received a good seed-potato price from the 2011 harvest with Euro 31/100kg. There are clear agreements about the earnings between the organisation HZPC and the growers, which cannot be changed on a whim. The smaller result of the Dutch pool is the result of a smaller market in Europe because of the lower prices of consumption potatoes.
On 4 October the Board of Directors and the shareholders confirmed the annual accounts and have made an amount of 2.9 million Euro (65%) available for the payment of dividends. This is equal to a payment of Euro 3.75 per certificate (last year Euro 7.00). The present quotation of the certificate is Euro 64.35 (Euro 53.25 a year ago) and consequently the dividend is 6%. The value of the certificate increased by the maximum of 10% during the last 5 stock exchange days. There are two stock exchange days annually.
Director Gerard Backx is satisfied with the results achieved. "The company has developed again further during the last year. HZPC have the ambition to increase the volume of their varieties on the world market annually. The gross margin is good. Except last year the realised gross margin was a record. We have consciously chosen to have increase cost in favour of investments in the research and sales of our varieties. With this the result fits very well into the strategy of HZPC to develop further into a seed-potato company."
For the coming season HZPC again see good opportunities on the world market. Prices for our ware potatoes have increased again. Sales in the Middle East remain unsure because of political unrest. Nevertheless HZPC is positive about the coming year.


Publication date:

Receive the daily newsletter in your email for free | Click here

Other news in this sector:

Sign up for our daily Newsletter and stay up to date with all the latest news!

Subscribe I am already a subscriber