HZPC Group: Resilience and Transformation in Fiscal Year 2023-2024

The Royal HZPC Group's General Meeting of Shareholders reviewed and approved the 2023–2024 financial statements on October 29, 2024.

Europe experienced a late start to the 2023 crop year because of heavy rainfall, followed by a hot and dry spell. Consequently, the potato growers' seed yields were much below average. Despite that, the potato breeder showed tenacity in the face of volume and yield obstacles.

The gross margin for Royal HZPC Group dropped to EUR67.3m. Lower volumes, not entirely offset by higher pricing, were the reason for this. Nonetheless, a net profit of EUR6.1m was made before subtracting the Connecting Growers program's expenses thanks to strict cost control. The General Meeting of Shareholders decided on a dividend of EUR5.20 per certificate.

The fiscal year's overall sales and licensing volume was 940,963 tons, which is nearly the same as the 944,293 tons from the year before. In Asia and the Americas, license growth increased, offsetting the decreasing harvest in northwest Europe. Sales for the fiscal year totaled EUR415m.

“In 2023/2024, we were not able to achieve the growth we had estimated. However, in the special year 2023/2024 we showed how important resilience and adaptability are to our employees, growers, customers, and partners. We pushed boundaries and saw a new balance emerge, with our strategy of focusing on different segments and regions paying off,” Former CEO, Gerard Backx, reflected on the past year.

As of September 1, 2024, Hans Huistra has taken over the CEO position. He looks optimistic about the future: “Royal HZPC Group has built a very good market position over the years. A lot has been invested in new, promising varieties and there is a strong international organization with a solid home base in the Netherlands. With our employees, growers, clients, and partners, we have an excellent starting position to grow in the coming years.”

Royal HZPC Group is committed to sustainability and innovation, convinced that there is still a world to be won in seed potato growing.