Royal HZPC Group's growth and stability in financial year 2022/2023

HZPC potatoes

Royal HZPC Group's growth and stability in financial year 2022/2023

October 18, 2023
For financial year 2022/2023, potato breeder Royal HZPC Group B.V. reports substantial growth in sales. Gerard Backx, CEO Royal HZPC Group B.V., underlines that the important growth in volume, is mainly in Asia and America.

On Thursday 5 October 2023, the Supervisory Board of Royal HZPC Group B.V. discussed the annual accounts for the 2022/2023 financial year. On Tuesday 17 October 2023, the General Meeting of Shareholders considered and adopted the financial statements.

Impressive growth

The potato breeder's turnover is EUR 420 million (USD 442 million), up from EUR 350 million (USD 368 million) the previous year. In 2021/2022, Royal HZPC Group B.V. sold almost 900,000 tonnes of seed potatoes directly or through licensees, this has increased to 944,000 tonnes in 2022/2023.

The increase in sales was strongly driven by higher selling prices due to higher transport costs. Royal HZPC Group B.V. sells many seed potatoes delivered in the country of destination. The growth in tonnages mainly takes place outside Europe. With licensed growing, great progress is being made in Asia and America.

Stable result

The result was EUR 7.1 million (USD 7.48 million) in 2022/2023, comparable to the result of EUR 7 million (USD 7.37 million) in 2020/2021. The result for both years excludes the costs of the Connecting Growers program.

Royal HZPC Group B.V. bought a total of 16,311 certificates for EUR 1.1 million (USD 1.16 million) over the financial year for the program. The General Meeting of Shareholders was again able to set the dividend at EUR 6 (USD 6.32) per certificate. The potato breeder is focusing on more efficient internal processes and investing in its research activities. Gerard Backx:
 
"By investing in new business systems and reviewing business processes, we aim to increase the efficiency of Royal HZPC Group. By investing in research, we can develop new potato varieties that contribute to a sustainable and liveable future."

"In the coming years, we will introduce many new robust varieties with important resistances. These varieties can do with much less chemicals and water and provide good yields even under challenging conditions."
More information can be read from Friday 20th October in their new annual report.