1、BUILDING STRENGTH IN A VOLATILE MARKETConsolidated Annual ReportOUR VISIONCREATE THE fUTURE Of DAiRy TO BRiNG HEALTH AND iNSpiRATiON TO THE wORLD,NATURALLy3 Arla Foods Consolidated Annual Report 2021 Brings you back to the table of contentsNavigation in the reportRead more in the reportMANAGEMENT RE
2、ViEw04 2021 Performance at a glance05 Message from the Chairman and the CEO06 Message from the Chairman:Creating the future of dairy from the ground up07 Message from the CEO:Solid performance and sustainability actioninanother volatile year08 Highlights10 Five year overviewSTRATEGy13 Our business m
3、odel14 Good Growth 2020 prepared us for the future15 Achievements of our Calcium programme16 Trends shaping our strategy18 Future 26 Our new strategy19 Lead sustainable dairy20 Scale to grow21 Build growth platforms22 Collaborate for efficienciesOUR SUSTAiNABiLiTy jOURNEy24 Our sustainability strate
4、gy25 Stronger planet Our environmental ambition26 Sustainability on farms27 Stronger people Our societal ambitionOUR BRANDS AND COMMERCiALSEGMENTS29 Our global brands 32 Europe33 International34 Arla Foods Ingredients35 Global industry salespERfORMANCE REViEw38 Market overview39 Performance overview
5、45 Financial outlookGOVERNANCE47 Governance framework49 Board of Directors52 Executive Management Team54 Management remuneration55 Diversity and inclusionRiSK AND COMpLiANCE58 Risk management59 Risk overview Critical risks60 Risk overview Major risks61 Our work with controls and compliance62 Respons
6、ible and transparent tax practicesCONSOLiDATED fiNANCiALSTATEMENTS64 Table of contents65 Primary financial statements73 Notes117 Statement by the Board of Directors and the Executive Board118 Statement by the auditorsENViRONMENTAL,SOCiAL ANDGOVERNANCE(ESG)DATA120 Table of contents121 Sustainability