Notes to the consolidated profit and loss account for 2023

12. sales – segmentation by region

12. sales - segmentation by product

13. selling and distribution expenses

The selling and distribution expenses include expenses relating to trade and logistical employees, travelling and representation expenses, fair expenses and other publicity expenses. 

14. general and administrative expenses

The general and administrative expenses include expenses related to finance and support employees. Operating costs are distributed between selling and general expenses according to the nature of the costs. 

15. personnel expenses

During the financial year 2023, the average number of staff employed in the group, converted to full-time equivalents amounted to 96.3 FTE (2022: 77 FTE), of which 21 (2022: 19) 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

Wages and salaries

Wages and salaries are included in selling and distributions expenses and general and administrative expenses.

Social security and pension charges

Emoluments of statutory directors

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 1,812 thousand (2022: EUR 1,562 thousand) for statutory directors. There were no loans, advances or guarantees granted by the Company to the statutory directors. The Company does not have a Supervisory Board.

16. other operating income

The 2023 result is a sum total of EUR 104.7 million profit on commodity derivative contracts and of EUR 91.2 million in losses on commodity derivative contracts.

17. interest receivables and similar income

18. interest payable and similar charges

19. tax on result

20. 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:

The remuneration of the managing directors is included in note 15.

21. 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 2023 (2022) relate to the total fees for the audit of the financial statements 2023 (2022), irrespective of whether the activities were performed during the financial year 2023 (2022).

22. subsequent events

For the disclosure of subsequent events reference is made to note 30 to the Company financial statements.