09 Nov 2022
Rijk Zwaan continues to innovate
In the 2021/2022 financial year, vegetable breeding company Rijk Zwaan generated a total net turnover of €534 million and invested 30% of its turnover back into research and development.
Highlights from 2021/2022
- An 7% increase in net turnover to €534 million; this increase occurred in almost all regions and across all crops in which Rijk Zwaan is active.
- The operating profit fell slightly due to the sharp rise in costs for research and development. However, the net profit rose thanks to the increase in the market rate.
- A market share of 9%, putting the company in the top 4 of the worldwide vegetable seed market.
- Rijk Zwaan employs over 3,800 people worldwide, of whom more than 40% are based in the Netherlands.
Food production is essential
The demand for high-quality vegetable seeds is rising in line with the growing global demand for healthy and sustainable food. Ben Tax, member of the Rijk Zwaan board of directors, comments on the financial year 2021/2022: “No matter what is going on in the world, food production remains essential. Every day, hundreds of millions of people eat vegetables that have been grown from the seeds we produce. Our vegetable breeding company has shown stable growth for many years and continues to invest in innovation and supply chain collaboration.”
Improved vegetable varieties
As a family-owned company with a long-term vision, the company invested €160 million into R&D in 2021/2022 aimed at developing new vegetable varieties that add value for growers, chain partners and consumers.
As part of this continuous innovation, Rijk Zwaan breeds vegetable varieties that achieve a higher yield for growers, are more resilient for the effects of climate change, and have resistances against plant diseases so that the use of chemical crop protection agents can be reduced.
Not without difficulties
Nevertheless, the world – and certainly the horticultural sector – is not without difficulties. For example, the exceptionally high energy costs are a big headache for greenhouse operators in Northern Europe, and a number of customers in the Netherlands have already been forced to close. Meanwhile, the soaring inflation levels are posing challenges in some parts of the world. Thankfully, the Dutch government has stepped in to partially compensate consumer households for sky-high energy bills.
The Rijk Zwaan annual accounts were filed with the Chamber of Commerce on 9 November 2022.