Background
Financial statement

Notes to the consolidated profit and loss account

 

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

13. Net turnover

  2016/2017 2015/2016
     
Seed potatoes 273,802 246,600
Licences 16,432 14,047
Rendering of services 3,351 1,410
Ware potatoes 22,854 27,409
     
  316,439 289,466

 

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

  2016/2017

%

2015/2016

%
         
Netherlands 49,874 16 54,618 19
Other EU countries 177,193 56 154,175 53
Other European countries 12,457 4 12,079 4
Outside Europe 102,765 32 92,800 32
Intra-group deliveries -25,850 -8 -24,206 -8
         
  316,439 100 289,466 100

 

14. Other income

These are mainly goverment grants and incidental income.

15. Personnel expenses

  2016/2017 2015/2016
     
Wages and salaries 18,418 15,635
Social security costs 3,056 2,788
Pension costs 3,384 2,424
     
  24,858 20,847

Number of employees
During the financial year, the average number of employees at HZPC Holland B.V. and its subsidiaries was 328 FTE, of which 237 are employed in the Netherlands (previous financial year 293, of which 214 FTE were employed in the Netherlands). 340 FTE were employed on the balance sheet date.

Specific details for number of FTEs

  2016/2017 2015/2016
     
Management and Administration 56 50
Commerce and communication 94 81
Purchasing and logistical planning 76 66
Storage, grading and transport 26 27
Research 76 69
     
  328 293

 

16. Other operating expenses

  2016/2017 2015/2016
     
Sales costs 1,996 3,693
Office costs 3,541 2,449
Staffing related costs 4,011 2,602
Repair and maintenance 1,456 1,275
Other costs 6,438 5,090
     
  17,442 15,109

 

17. Interest receivable and similar income

  2016/2017 2015/2016
     
Deposits - 16
Trade receivables 92 6
Interest on loans to participating interests - 2
Bank current account 449 242
Other 22 56
     
  563 322

 

18. Interest payable and similar charges

  2016/2017 2015/2016
     
Grower deposits -110 -149
Discount -37 -37
Bank current account -433 -250
Other -83 -218
     
  -663 -654

 

19. Corporate income tax

  2016/2017 2015/2016
     
Applicable tax rate in the Netherlands 25.0% 25.0%
Foreign stock 1.5% 3.6%
Non-deductible amounts -0.9% 0.5%
Innovatiebox, RDA and other -1.3% -8.0%
Other corrections 0.7% -1.7%
     
Effective pressure 25,0% 19,4%

Together with HZPC Holland B.V., Stet Holland B.V., Bonna Terra B.V., ZOS B.V., ZOS WEHE B.V., HZPC SBDA B.V., HZPC SBA Europe B.V., HZPC Research 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, not taking into account any tax facilities applicable for the Company.

The effective tax rate is 25.0% (2015/2016: 19.4%). 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 28.7% applies (2015/2016: 38.8%).

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. Other 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)
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.

  2016/2017 2015/2016
Paid in the year:    
Audit of the financial statements (KPMG Accountants N.V.) 145,500 97,000
Audit of the financial statements abroad (KPMG network) 83,459 55,453
Audit of the financial statements previous year (KPMG Accountants N.V.) 12,125 -
Tax-related advisory services (KPMG network) 110,439 75,665
Other non-audit services (KPMG network) 34,385 92,157
     
Auditor’s fees 385,908 320,275
     

Subsequent events
No events have occurred following the balance sheet date with significant financial consequences.