Arla Foods UK plc (ARU) 2018年年度报告「LSE」.pdf

1、Only yoghurt and fruit,nothing elseMost eco-friendly carton to dateCONSOLIDATED ANNUAL REPORTTransforming for the future2018Scene setterAs we are the largest organic dairy producers in the world,and have the second largest milk pool in Europe,we are creating the blueprint for a more sustainable indu

2、stry.Now we are also transforming Arla for the future we want to see:with fresh thinking and smarter spending,we keep finding new ways to meet and exceed the expectations of our owners,customers and consumers.Management Review03 2018 Performance at a glance04 Message from the Chairman of the Board o

3、f Directors06 Message from the Chief Executive Officer08 Highlights10 Five year financial overview11 Essential business priorities for 2018Our Strategy13 Who we are14 Our business model15 Good Growth 202016 Embracing change18 Our risk landscape20 Preparing for Brexit21 Our transformation programme,C

4、alcium24 Essential business priorities for 2019Our Brands and Commercial Segments26 Arla27 Lurpak28 Castello29 Puck30 Milk based beverages31 Europe33 International35 Arla Foods Ingredients36 TradingOur Governance38 Governance framework40 Executive Management Team42 Board of Directors43 Management Re

5、munerationOur Responsibility45 Our Code of Conduct46 Our compliance activities47 Our tax affairs48 Leading the sustainability agenda49 Sustainable dairy farming50 Sustainability highlights 201851 Arlagrden52 Diversity and inclusionOur Financial Review54 Market overview56 Financial performance62 Fina

6、ncial outlookConsolidated Financial Statements66 Primary financial statements75 Notes121 Statement by the Board of Directors and the Executive BoardEndorsement122 Independent auditors report123 Glossary125 Corporate calendarContentPerformance priceEUR-CENT/KG36.42018 Performance at a glanceMilk volu