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CRV ends up in the red and is eating into its own capital
Breeding organization CRV looks back on a difficult year. Turnover still rose sharply, but a net loss remained, while shareholders' equity was also drawn down. There is therefore no additional payment, which is called a member benefit at CRV.
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Financial director Egon Verheijden explains the figures of a modest operating result for the 2022/23 financial year, which ran from September 1, 2022 to August 31, 2023.
Expressed in figures, the operating result amounted to €300.000, compared to €1,6 million a year earlier. However, after deduction of taxes, CRV is in a negative position, with a net loss of €1 million, which is €1,7 million less than in the previous year.
In the meantime, equity also had to be used. That fell from €93 million to €89,5 million last year. On the positive side, CRV's turnover increased by €9 million to €188,5 million. That is a record for the organization.
Markets nearby
The increase in turnover was mainly achieved in Germany, the Czech Republic and the Dutch-Flemish home market. "Here we benefited from the good milk price and the fact that the size of the livestock has remained stable for the time being," says Verheijden. "The world's major AI organizations are in fierce competition on the international sperm market."
According to Verheijden, the negative results were the result of 'extreme inflation', sharply increasing personnel costs (9% higher wages) and exchange rate losses on, among other things, US dollars. These last losses in particular had a negative effect on shareholders' equity.
In the meantime, CRV continues to invest in research and development. €10,7 million was invested in this in the closed financial year, including in improving feed efficiency.