HZPC managed to get its results back on track in the fiscal year 2021-2022 after a difficult same-year period.

“Times remain uncertain. The fact that in 2021-2022 we brought the profit figure back in line with our ambitions makes us cautiously positive about the results for the coming years,” Gerard Backx, CEO of HZPC mentioned.

Because of the corona crisis and the impact of the Lebanon crisis, the fiscal year 2020-2021 was particularly difficult. HZPC was forced to reorganize, resulting in lower cost increases beginning in the 2021-2022 fiscal year.

Furthermore, the increase in profit was the result of improved market conditions, which increased sales. At the same time, following the outbreak of war between Russia and Ukraine on February 24, net sales were close to zero. After February, HZPC usually sells a few percent of its stock. The war increased uncertainty among ware potato growers, while prices of several cereal products rose. This influenced the results of HZPC.

“What we have learned from the past few years is that HZPC is a tremendously resilient company. The world has become more unpredictable. And yet we manage to hold our own in uncertain times. I am therefore cautiously positive about the coming financial year with more sales and a similar level of profit. We are facing high inflation and energy costs, forcing growers and potato processors to make different choices than we are used to. The war in Ukraine has not yet stopped. Its effect on the potato market is difficult to predict. There is uncertainty. But one thing is certain: the demand for sufficient food remains. We foresee substantial growth in countries outside of Europe, such as India, China, Africa, and America. In recent years, we took important steps in the development of new varieties and invested in market development. This will begin to bear fruit in the coming year. I have full confidence in that,” Backx concluded.

The Supervisory Board of HZPC Holding B.V. discussed the annual accounts for the fiscal year 2021-2022 at the beginning of October 2022.

HZPC’s revenue was EUR350m, up from EUR312m the previous year. HZPC sold nearly 992,080 tons of seed potatoes directly or through licensees in 2021-2022.