Notes to the consolidated profit and loss account for 2022
11. sales – segmentation by region
|
In thousands of euros |
2022 |
2021 |
|
|
Deliveries within the Netherlands |
73,670 |
88,240 |
|
|
Deliveries within other EU countries |
306,854 |
253,331 |
|
|
Deliveries within Asia |
91,005 |
98,773 |
|
|
Deliveries within Africa |
195,321 |
250,581 |
|
|
Deliveries within Americas |
247,168 |
184,451 |
|
|
Deliveries to rest of the world |
25,128 |
18,192 |
|
|
xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx |
939,146 |
893,568 |
11. sales - segmentation by product
|
In thousands of euros |
2022 |
2021 |
|
|
Fat |
126,643 |
91,829 |
|
|
Powders |
691,165 |
693,367 |
|
|
Cheese |
98,758 |
79,898 |
|
|
Liquids |
22,580 |
28,474 |
|
|
xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx |
939,146 |
893,568 |
12. selling and distribution expenses
|
In thousands of euros |
2022 |
2021 |
|
|
Wages and salaries |
10,521 |
5,075 |
|
|
Social security and pension charges |
1,346 |
1,108 |
|
|
Emoluments statutory directors |
1,562 |
1,126 |
|
|
Other selling and distribution expenses |
2,639 |
1,646 |
|
|
xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx |
16,067 |
8,955 |
personnel expenses
During the financial year 2022, the average number of staff employed in the group, converted to full-time equivalents amounted to 77 FTE (2021: 76 FTE), of which 20 (2021: 18) were employed outside the Netherlands. This increase was mainly caused by the growth of the company. This staffing level (average number of staff) can be divided into the following staff categories:
Average number FTE
|
FTE |
2022 |
2021 |
|
|
Trade |
28.2 |
27.9 |
|
|
Logistics |
34.7 |
35.0 |
|
|
Finance |
8.2 |
7.3 |
|
|
Support |
5.9 |
6.0 |
|
|
xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx |
77.0 |
76.2 |
Wages and salaries
|
In thousands of euros |
2022 |
2021 |
|
|
Wages and salaries |
10,521 |
5,075 |
Social security and pension charges
|
In thousands of euros |
2022 |
2021 |
|
|
Social security charges |
714 |
559 |
|
|
Pension charges |
632 |
549 |
|
|
xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx |
1,346 |
1,108 |
Emoluments of statutory directors
|
In thousands of euros |
2022 |
2021 |
|
|
Dividend paid |
1,180 |
- |
|
|
Management fee |
1,562 |
1,126 |
|
|
xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx |
2,742 |
1,126 |
The emoluments, including pension costs as referred to in Section 2:383(1) of the Netherlands Civil Code, charged in the financial year to the Company amounted to EUR 2,742 thousand (2021: EUR 1,126 thousand) for statutory directors. There were no loans, advances or guarantees granted by the Company to the managing directors. The Company does not have a Supervisory Board.
other selling and distribution expenses
|
In thousands of euros |
2022 |
2021 |
|
|
Travel and accommodation |
669 |
192 |
|
|
Sales expenses |
1,170 |
982 |
|
|
Training charges |
144 |
82 |
|
|
Other personnel charges |
653 |
381 |
|
|
Costs related to leave hours |
3 |
9 |
|
|
xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx |
2,639 |
1,646 |
13. general and administrative expenses
|
In thousands of euros |
2022 |
2021 |
|
|
Depreciation on tangible fixed assets |
578 |
505 |
|
|
Housing expenses |
473 |
380 |
|
|
Office expenses |
903 |
751 |
|
|
Car expenses |
212 |
162 |
|
|
General and services expenses |
541 |
343 |
|
|
xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx |
2,707 |
2,141 |
14. other operating income
|
In thousands of euros |
2022 |
2021 |
|
|
Result on commodity derivatives |
22,853 |
(205) |
|
|
xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx |
22,853 |
(205) |
The 2022 result is a sum total of EUR 252 million profit on commodity derivative contracts and of EUR 229 million in losses on commodity derivative contracts.
15. interest receivables and similar income
|
In thousands of euros |
2022 |
2021 |
|
|
Interest |
7 |
- |
|
|
Result on FX |
- |
(471) |
|
|
Other financial income |
- |
- |
|
|
xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx |
7 |
(471) |
16. interest payable and similar charges
|
In thousands of euros |
2022 |
2021 |
|
|
Bank charges |
325 |
279 |
|
|
Interest on Subordinated loans |
89 |
130 |
|
|
Interest paid to bank |
1,790 |
1,083 |
|
|
Result on FX |
12 |
- |
|
|
Other financial expenses |
7 |
- |
|
|
xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx |
2,223 |
1,492 |
17. tax on result
|
In thousands of euros |
2022 |
2021 |
|
|
Result before tax |
29,379 |
5,189 |
|
|
Tax effect of: |
|||
|
- Results under the participation exemption |
(1,050) |
(378) |
|
|
-Additions on disposals |
- |
- |
|
|
- Addition on disinvestment |
- |
- |
|
|
-Tax allowance for investments |
- |
- |
|
|
- Non-deductible expenses |
28 |
14 |
|
|
Taxable amount |
28,358 |
4,825 |
|
|
Tax rate abroad |
2 |
6 |
|
|
Tax rate 15% |
59 |
37 |
|
|
Tax rate 25.8% |
7,458 |
1,224 |
|
|
Income tax expense |
7,519 |
1,267 |
|
|
The applicable weighted average tax rate |
25.6% |
24.4% |
18. transactions with related parties
Transactions with related parties are assumed when a relationship exists between the Company and a natural person or entity that is affiliated with the Company. This includes the relationship between the Company, its shareholders, and affiliated companies, among others. Transactions are transfers of resources, services or obligations, regardless of whether anything has been charged.
There were no transactions with related parties that were not on a commercial basis. On a commercial basis, there were the following transactions with related parties:
|
In thousands of euros |
2022 |
2021 |
|
|
Subordinated loan Nilina Holding B.V. |
(250) |
(250) |
|
|
Subordinated loan Loma Holding B.V. |
(250) |
(250) |
|
|
Subordinated loans |
(1,000) |
(1,500) |
|
|
Receivables as at 31-12 |
1,319 |
175 |
|
|
Payables as at 31-12 |
(140) |
382 |
|
|
Sales |
1,458 |
875 |
|
|
Purchases |
23,180 |
14,621 |
The remuneration of the managing directors is included in note 12.
19. auditor’s fees
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) of the Netherlands Civil Code.
The fees mentioned in the table for the audit of the financial statements 2022 (2021) relate to the total fees for the audit of the financial statements 2022 (2021), irrespective of whether the activities were performed during the financial year 2022 (2021).
|
In thousands of euros |
KPMG Accountants N.V. |
Other KPMG network |
Total KPMG |
|
2022 |
|||
|
Audit of the financial statements 2022 |
180 |
- |
180 |
|
180 |
- |
180 |
|
|
2021 |
|||
|
Audit of the financial statements 2021 |
123 |
- |
123 |
|
123 |
- |
123 |
20. subsequent events
For the disclosure of subsequent events reference is made to note 28 to the Company financial statements.