Background
Financial statement

Notes for the consolidated profit and loss account


Net turnover can be specified as follows in accordance with important yield categories:

13. Net turnover

  2015/2016 2014/2015
     
Seed potatoes 246,600 215,355
Licences 14,047 12,765
Rendering of services 1,410 1,454
Ware potatoes 27,409 12,056
     
  289,466 241,630

 

The following overview is provided for the net turnover/percentage spread over the sales areas:

  2015/2016

%
2014/2015

%
         
Netherlands 54,618 19 36,284 15
Other EU countries 154,175 53 127,343 53
Other European countries 12,079 4 7,767 3
Outside Europe 92,800 32 88,534 37
Intra-group deliveries -24,206 -8 -18,298 -8
         
  289,466 100 241,630 100

 

14. Other income

These are mainly government grants and incidental income.

15. Personnel expenses

  2015/2016 2014/2015
     
Wages and salaries 15,635 14,768
Social security costs 2,788 2,371
Pension costs 2,424 2,274
     
  20,847 19,413

Number of employees
During the financial year, the average number of employees at HZPC Holland B.V. and its subsidiaries was 293 FTE, of which 214 are employed in the Netherlands (previous financial year 270 FTE, of which 199 FTE were employed in the Netherlands).

Specific details for number of FTEs

  2015/2016 2014/2015
     
Management and Administration 50 48
Commerce and communication 81 66
Purchasing and logistical planning 66 60
Storage, grading and transport 27 26
Research 69 70
     
  293 270

 

16. Other operating costs

  2015/2016 2014/2015
     
Sales costs 3,693 2,059
Office costs 2,449 2,376
Staffing related costs 2,602 3,029
Repair and maintenance 1,275 1,114
Other costs 5,090 4,842
     
  15,109 13,420

 

17. Interest receivable and similar income

  2015/2016 2014/2015
     
Deposits 16 67
Trade receivables 6 7
Interest on loans to participating interests 2 2
Bank current account 242 7
Other 56 111
     
  322 194

 

18. Interest payable and similar charges

  2015/2016 2014/2015
     
Grower deposits -149 -244
Discount -37 -53
Rekening courant bank -250 -23
Other -218 -30
     
  -654 -350

 

19. Corporation tax

  2015/2016 2014/2015
     
Applicable tax rate in the Netherlands 25.0% 25.0%
Foreign tax 3.6% 5.9%
Share of result of participating interests 0.2% -1.8%
Non-deductible amounts 0.5% 0.6%
Movement in temporary differences -2.0% -7.3%
Innovatiebox scheme for profits arising from innovation, RDA and other -7.9% -19.9%
     
Effective rate 19.4% 17.1%

Together with Stet Holland B.V., Bonna Terra B.V., ZOS B.V., Participatie Maatschappij Buitenland B.V., HZPC IPR B.V. and Solentum B.V., the Company forms a fiscal unit for corporation tax. The corporate income tax is included in each of the companies for the part that the Company concerned as an independent company would be due, taking into account any tax facilities applicable for the Company.

The effective tax rate is 19.4% (2014/2015: 17.1%). For the Dutch companies the effective tax rate is lower than the nominal rate of 25% due to extra fiscal deduction possibilities. These are mainly related to R&D activities. For the foreign companies an average tax rate of 38.8% applies (2014/2015: 42.9%).

Other explanatory notes


Transactions with related parties
Transactions with related parties occur when a relationship exists between the company, its participating interests and their managers and directors. This includes the relationships between the company and its participating interests, the shareholders, the directors and key management personnel.
Transactions are to be understood as a transfer of resources, services or obligations, regardless of whether a sum is charged.

There were no transactions with related parties that were not on a commercial basis.

Auditor’s fees (in EUR x 1)
The following fees were charged by KPMG Accountants N.V. to the company, its subsidiaries and other consolidated companies, as referred to in Section 2:382a (1) and (2) of the Netherlands Civil Code.

  2015/2016 2014/2015
Paid in the year:    
Audit of the financial statements (KPMG Accountants N.V.) 97,000 87,500
Audit of the financial statements abroad (KPMG network) 55,453 51,052
Audit of the financial statements previous year (KPMG Accountants N.V.) - 14,000
Tax-related advisory services (KPMG network) 75,665 20,252
Other non-audit services (KPMG network) 92,157 82,973
     
Auditor’s fees 320,275 255,777