Arla Foods UK plc (ARU) 2016年年度报告「LSE」.pdf

1、Creating the future of dairyCONSOLIDATED ANNUAL REPORTContentsManagement review2 2016 in short4 Arlas milk wheel6 Movingforwardafteravolatileyear by Chairman of the Board ofDirectors,keHantoft8 Branded growth in a volatile market by CEO,Peder Tuborgh10 Significanteventsin201614 Strategy30 Governance

2、42 Performance 58 Risk and opportunity68 Values and considerationsConsolidated financial statements 80 Consolidatedfinancialstatements 82 Primary statements 90 Notes 136 Independent auditors report 138 Statement by the Board of Directors and the Executive BoardProject management:Corporate Finance an

3、d Corporate Communication,ArlaCopy,design and production:We Love PeopleTranslation:TextMinded Photos:Jens Bangsbo,Hans-Henrik Hoeg and Arla The consolidated annual report is published in Danish,Swedish,German,French and English.Only the original Danish text is legally binding.The translation has bee

4、n prepared for practical reasons.Financial statement of the parent companyUnder section 149 of the Danish Financial Statements Act,this consolidated annual report represents an extract of Arlas complete annual report.In order to make this report more manageable and user-friendly,we have decided to p

5、ublish a consolidated annual report without the financial statements of the parent company,Arla Foods amba.The annual report of the parent company is an integrated part of the full annual report and is available on .Profit sharing and supplementary payment from the parent company are set out in the

6、equity section of the consolidated annual report.The full annual report contains the statement from the Board of Directors and the Executive Board as well as the independent auditors report.GlossaryBrand share is the ratio of revenue from strategic branded products of Arlas total revenue.Strategicbr