15 - Net turnover

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

  2018 / 2019 2017 / 2018
     
Seed potatoes 302,471 267,232
Licenses 21,767 21,805
Services 2,936 1,967
Ware potatoes 20,690 9,281
     
  347,864 300,285

 


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

 

2018 / 2019

% 2017 / 2018

%

         
The Netherlands 71,069 20 49,422 16
Other EU countries 190,025 54 161,242 53
Other European countries 16,346 5 10,896 4
Outside Europe 105,102 30 103,806 35
Intra-group deliveries -34,678 -9 -25,081 -8
         
  347,864 100 300,285 100

 

16 - Other income

These are mainly government grants and incidental income.

 

17 - Personnel expenses

  2018 / 2019 2017 / 2018
     
Personnel expenses 20,187 18,176
Social security costs 3,568 3,756
Pension costs 2,312 2,138
     
  26,067 24,070

Number of employees
During the financial year, the average number of employees at HZPC Holding B.V. and its subsidiaries was 355 FTE, of which 259 are employed in the Netherlands (previous financial year 345, of which 251 FTE were employed in the Netherlands). 362 FTE were employed on the balance sheet date.

 

Specification number of FTE’s

  2018 / 2019 2017 / 2018
     
Management, administration and IT 82 66
Commerce and communication 86 95
Purchasing and logistic planning 88 80
Storage, grading and transport 21 22
Research 78 82
     
  355 345

 

18 - Other operating expenses

  2018 / 2019 2017 / 2018

   
Sales costs 3,608 2,600
Office costs 3,224 4,117
Staffing related costs 4,725 4,468
Staffing related costs 1,759 1,683
Other costs 4,987 6,322
     
  18,303 19,190

 

19 - Interest receivable and similar income

  2018 / 2019 2017 / 2018
     
Debtors 82 70
Bank account current 1,773 647
Other    107 122
     
  1,962 839

 

20 - Interest payable and similar charges

  2018 / 2019 2017 / 2018
     
Grower deposits - -12
Discount -50 -12
Bank current account -2,042 -844
Other    -50 -20
     
  -2,142 -888

 

21 - Corporate income tax

  2018 / 2019 2017 / 2018
     
Applicable tax rate in the Netherlands 25,0% 25,0%
Foreign stock -1,3% 3,0%
Non-deductible amounts 1,0% 1,6%
Innovationbox -2,9% -1,2%
Recognition of previously non recognised tax losses 0,0% -3,5%
Other    3,5% -2,3%
     
Effective pressure 25,3% 22,6%


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., 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 would be due, at the nominal value, not taking into account any tax facilities applicable for the Company.

The effective tax rate is 25.3% (2017/2018: 22.6%). For the Dutch companies the effective tax rate is higher than the nominal rate of 25% due to revaluation of deferred tax assets at a rate of 20.5% instead of 25%. For the foreign companies an average tax rate of 21.6% applies (2017/2018: 39.2%).
 

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. These transactions include: 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) BW.

  2018 / 2019 2017 / 2018
     
Paid in the year:    
Audit of the financial statements, the Netherlands (KPMG Accountants N.V.) 173,450 185,810
Audit of the financial statements abroad (KPMG Network) 64,486 35,604
Tax - related advisory services (KPMG Network)    96,718 36,426
Other non-audit services (KPMG Network) 63,788 132,914
     
Auditor’s fees 398,442 390,454
     


Remuneration of managing and supervisory directors
For an explanation of the remuneration of managing and supervisory directors reference is made to page 76 in the seperate balance sheet.  

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