News CZAV
CZAV members cash in on Agrimarkt deal
The financial result of the southwestern cooperative CZAV contrasts sharply with previous years. Due to the sale of the supermarket chain Agrimarkt, the result of €24 million is significantly higher.
Over 2018 achieved CZAV still a net result of €2,5 million after tax payments. Fiscal year 2019 brings in a considerably higher amount of more than €24 million. The direct cause is the cars for sale from the Agrimarkt supermarkets to Jumbo.
Extra discount
The affiliated farmers also notice this financial boost, reports CZAV. In December, a shorthand of €1,5 million. This is paid on fertilizers, crop protection products, animal feed, maize and onion seed. For the first time, a discount on organic fertilizer has also been paid. The wheat pool received a supplementary payment of €25 per tonne of wheat. In addition to the sale, the core activities and other participating interests realized around €2,5 million after tax, just like the year before.
More money in reserve
Of the €24 million, €5 million will be added to the general reserve of the cooperative. Over a period of 3 years, CZAV will pay this money to the members, for which the Council of Members must first give its approval. The first payment will follow in the autumn of 2020.
The remaining book profit is added to the statutory reserve and is available for the development of CZAV and its other activities. CZAV has not yet announced which branches of sport will receive a boost. It does say it is growing in the membership base in North Brabant and South Holland.
Niels van der Boom
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