1、2013Delivering good growthWe bring the benefit of our milk to more consumers.Consolidated Annual ReportFinancial highlights Front flap of the cover insideManageMent review Business review 2013 in short 1A solid platform inviting growth 2ke Hantoft:Raising the bar together 4Peder Tuborgh:On track for
2、 sustainable growth 6Seven essential goals for 2013 9StrategyDedicated to long-term targets 12Develop the core 14 Consumer UK 16 Consumer Sweden&Finland 18 Consumer Denmark 20 Consumer Germany&The Netherlands 22Deliver the growth 24 Consumer International 26 Arla Foods Ingredients 28 Innovation crea
3、tes value 30Faster,simpler and leaner 32Arlagrden secures the quality of my milk 34GovernanceCorporate Responsibility:Being responsible is key 36Corporate Responsibility(CSR)How we meet our responsibilities 38Diversity is an asset in Arla 40Tax governance 42Corporate governance 44Compliance is in ou
4、r DNA 46Strategic risk management 48Financial reviewFrederik Lotz:Healthy financial base 50Investing in development together 52COnSOLiDateD FinanCiaL StateMentSPrimary financial statements 54Notes 62enDOrSeMentSIndependent auditors report 107Statement by the Board of Directors and the Executive Boar
5、d 108exeCutive ManageMent grOup 110In order to make this report more manageable and user-friendly,the Arla Foods Group has decided to publish a consolidated annual report that does not include the financial statements of the parent company,Arla Foods amba.In accordance with section 149 of the Danish
6、 Financial Statements Act,this consolidated annual report is an extract of the companys complete annual report.The full report,including the annual report for the parent company,is available at .Profit appropriation and supplementary payment of the parent company are shown under equity in the consol