Background
Financial report

Notes to the consolidated profit and loss statement

13. Net turnover


Net sales consists of:

  2014/2015 2013/2014
     
Seed potatoes 215,355 244,967
Licenses 12,765 11,925
Services 1,454 1,223
Ware potatoes 12,056 24,613
     
  241,630 282,728

 

Overview of sales by region (x EUR 1,000 and as a %):

  2014/2015

%
2013/2014

%
         
Netherlands 36,284 15 49,010 17
E.U. countries 127,343 53 154,286 55
Other European countries 7,767 3 9,518 3
Outside Europe 88,534 37 90,435 32
Intercompany deliveries -18,298 -8 -20,521 -7
         
  241,630 100 282,728 100

 

14. Other income

These are mainly subsidies and incidental income.

15. Wages and salaries

  2014/2015 2013/2014
     
Wages and salaries 14,771 15,162
Social security cost 2,371 2,375
Pension cost 2,273 2,159
Other personnel expenses 1,298 393
     
  20,713 20,089

Number of employees
During the financial year, the average number of employees at HZPC Holland B.V. and its subsidiaries was 270 fte, of which 199 are employed in the Netherlands (previous financial year 261, of which 196 fte are employed In the Netherlands). These figures only take into account the permanent employees.

Specification number of fte’s

  2014/2015 2013/2014
     
Management en administration 48 46
Commerce en communication 66 63
Purchasing and logistic planning 60 58
Storage, grading and transport 26 30
Research 70 64
     
  270 261

16. Other operating cost

  2014/2015 2013/2014
     
Sales costs 2,059 2,816
Office costs 2,376 2,371
Personnel related cost 1,729 1,651
Repair and maintenance 1,114 1,143
Other cost 4,842 5,256
     
  12,120 13,237

17. Interest income and similar revenues

  2014/2015 2013/2014
     
Deposits 67 72
Debtors 7 68
Other 120 144
     
  194 284

18. Interest expense and similar charges

  2014/2015 2013/2014
     
Grower deposits -244 -411
Bank charges -53 -41
Other -53 -59
     
  -350 -511

19. Corporate income tax

  2014/2015 2013/2014
     
Applicable tax rate in the Netherlands 25.0% 25.0%
Applicable tax rate abroad 5.9% 3.1%
Result participations -1.8% -0.7%
Non deductible expenses 0.6% 0.3%
Movement in temporary differences -7.3% 4.0%
Innovatiebox, RDA and other -19.9% -3.8%
Adjustments for prior periods - -11.1%
     
Effective tax rate 17.1% 16.9%

Together with Stet Holland B.V., Bonna Terra B.V., ZOS B.V. and Participatie Maatschappij Buitenland B.V. the Company forms a fiscal unity. 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 the Company any tax facilities.

The effective tax rate is 17.1% (2013/2014: 16.9%). For the Dutch companies the effective tax rate is lower due to extra fiscal deduction possibilities. These are mainly related to R&D activities. For the foreign companies the effective tax rate is 42.9%.

Transactions with related parties
Transactions with related parties occur when a relationship exists between the company, its participating interests and their directors and key management personnel.

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.

  2014/2015 2013/2014
Paid in the year    
Audit of the financial statements (KPMG Accountants N.V.) 87,500 65,000
Audit of the financial statements abroad (KPMG Group) 51,052 58,773
Audit of the financial statements previous year (KPMG Accountants N.V.) 14,000 -
Tax - related advisory services (KPMG Group) 20,252 17,066
Other non-audit services (KPMG Group) 82,973 80,500
     
Auditor’s fees 255,777 221,339
     
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