Arla Foods Annual Report

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annual report 2010

FINANCIAL HIGHLIGHTS

F I NA NC I A L H I G HLIGHTS
Group DKK million Results Net revenue Of which outside DK/SE % outside DK/SE Operating profit Net financials Profit for the year Supplementary payments Consolidation: Reconsolidation according to Articles of Association Change in policy Capital account Delivery-based owner certificates Contributed capital Strategy fund Total assets Fixed assets Investment in property, plant and equipment Current assets Equity Long-term liabilities and provisions Short-term liabilities Cash flow from operating activities Cash flow from investing activities Cash flow from financing activities Free cash flow Financial ratios Net interest bearing debt incl. pension commitment/ EBITDA Interest cover Solvency ratio Inflow of raw milk Total million kg milk weighed in by the group Members in DK Members in SE Other Total members at 31 December In DK In SE Total Arla earnings DKK per kg co-operative member milk SEK per kg co-operative member milk Employees Average number of full-time employees

2010

2009

2008

2007

2006

49,030 30,600 62% 1,684 –294 1,268 1,031 – – 466 0 233 –462 30,097 17,004 1,613 13,093 8,580 9,341 12,060 2,552 –1,626 –2,392 926

46,230 28,374 61% 1,412 –232 971 660 0 – 0 311 – 0 30,094 16,782 1,618 13,312 8,281 9,917 11,768 3,402 –2,392 –526 1,010

49,469 29,766 60% 1,149 –862 556 137 121 0 0 176 – 122 29,280 15,205 1,447 14,075 7,797 9,857 11,482 1,388 –1,082 733 306

47,742 29,339 61% 1,520 –562 938 503 121 0 0 174 – 140 30,725 17,473 1,895 13,252 8,145 10,369 12,064 3,285 –4,298 2,835 –1,013

45,491 27,393 60% 1,161 –409 933 336 122 91 0 184 – 200 26,611 15,762 1,792 10,849 7,971 11,037 7,541 2,354 –1,268 –1,075 1,086

2.7 10.0 29% 8,713 4,345 1,829 2,539 3 649 3 529 7,178 2,52 3,49 16,215

3.2 9.0 28% 8,660 4,253 1,894 2,513 3,838 3,787 7,625 2,14 2,91 16,231

3.7 3.4 27% 8,243 3,911 1,943 2,389 3,906 4,090 7,996 2.82 3.61 16,233

3.2 6.3 27% 8,360 3,976 1,957 2,427 4,170 4,352 8,522 2.47 3.07 16,559

3.4 7.4 30% 8,592 4,047 2,067 2,478 4,591 4,817 9,408 2.27 2.81 17,933

2

coNteNts

coNteNts
Arla Foods is one of the world’s largest dairy companies. Our products are marketed in more than 100 countries. We employ 16,215 people.”

MANAGEMENT REVIEW 2 key figures 4 the chairman’s report 6 the ceo’s report 10 arla’s identity: Our Vision, Our Mission, Our Strategy, Our Character and Our Resources 16 financial review 19 financial risks STATEMENTS 21 management report 22 independent auditor’s report

GROUP AND ANNUAL ACCOUNTS 23 accounting policies 29 income statement 30 Balance sheet 32 statement of changes in equity 33 cash flow statement 34 Notes 42 Group overview OTHER INFORMATION 44 Board of directors 46 executive management Board 47 map of arla’s markets

OUR VISION

our responsibility
ArlA Foods’ corporAte sociAl responsibility

OUR VISION
”Our vision is to be the leading dairy company in Europe through strong value creation and active market leadership in order to achieve the highest possible milk price.” A global dairy company
Arla is owned by 7,178 Danish and Swedish milk producers, of which 680 are organic farms.

report 2010

■ ■ ■

Core markets Growth markets Value markets

PRIORITY MARKETS Core markets: The UK, Sweden, Denmark, Finland, the Netherlands and Germany Growth markets: Russia, Poland, USA, China and the Middle East and North Africa (MENA) Value markets: Canada, Spain, Greece, Norway and other export markets

VALUE CREATION IN PRACTICE
Continual improvements and change are some of the driving forces behind Arla’s vision and strategy. Some examples: ■■ NEW WORLD-CLASS DAIRY IN THE UK. Arla has decided to invest DKK 1.5 billion in the world’s most efficient and environmentally-friendly liquid milk dairy. A location just outside London has been identified and it is anticipated that production will begin in 2012. ■■ SUCCESSFUL PRODUCT DEVELOPMENT. At the beginning of...
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