HZPC: 2010-2011 a record year

HZPC Holland B.V. has finished the annual year with a record revenue, growers payout and profit.

Annual year 2010-2011 was an exceptional potato year. The many factors that influence the income of growers and organisation were all positive. The uncertainty about the availability of potatoes during the harvest season, the strong demand in North-Africa and the Middle-East and the huge need for ware potatoes in Russia formed the base of the season. The result was the unique combination of a big supply eventually, a good demand and a fine price level.

The consolidated turnover amounted to 284 million euro, about 70 million more than in annual year 2009-2010 and 40 million more than the old record of 2006-2007. The Dutch growers received a record amount per hectare, with a grower's price of 33.12 euro per 100 kg

After deduction from taxes this resulted in a net profit of 8.6 million euro for the company. The contribution of the subsidiaries in this result was 4.5 million euro, more than a doubled compared to 2009/2010. Mainly because of higher trade margin from the Dutch pool, the profit of HZPC Holland itself increased from 1.5 to 4.1 million euro.

On October 6 the supervisory board approved the annual accounts and an amount of 5.5. million euro (64%) available for dividend. This corresponds to a payment of 7.00 euro per certificate;also this is a record. The present quotation of the certificate is 53.25 euro, so the dividend yield comes out at 13.1%.

CEO Gerard Backx is very satisfied with the result. "Both growers and employees were able to take advantage of the opportunities offered by this season.""Our growth objective is thus amply achieved."

The new season looks completely different again. This year’s crop of ware potatoes is high in Europe, and the prices are low. The crop of seed potatoes is very moderate with relatively a lot of big sizes. The reason is the moderate tuber setting in both the ware potato and the seed crop.

There is currently uncertainty about the supply and possibilities for payment of our buyers. HZPC expects big differences between the several areas, but assumes an average year for both the organisation and the growers.

Source: HZPC