1、Annual Report 2001/02Annual Report 2001/02Design,production&print:Datagraf Auning AS,DenmarkArla Foods ambaSkanderborgvej 277DK-8260 Viby J.Denmarktel.+45 89 38 10 00fax+45 86 28 16 91e-CVR-nr.25 31 37 633Key figures .2The Chairmans report .5Report .6Changes in the production structure .10Market rep
2、ortsHome markets .13European markets.17Overseas markets.20Ingredients for the food industry .24Relations with co-operative owners .25Innovation.27Environmental considerations .28Subsidiaries .30ContentsManaging financial risk at Arla Foods .38Accounts .40Accounting policies .41Profit&loss account .4
3、5Balance sheet .46Equity movements .48Cash flow statement.49Notes .50Group companies .56Arla Foods Supervisory Board .58The people behind Arla Foods products.Lars Wamberg met some of them in Sweden,the UK and Denmark and photographedthem in typical working situations.The photos were all shot underav
4、ailable light.The product photos show some of the years new products.The numbers refer to the back flap of the report where there is a short description of the products.Front cover:Jessica Russo,22,a machine operatorat Gothenburg Dairy for the past year,works withproduction of drinking milk and yogh
5、urt.5As a milk producer myself,I canconfirm that earnings from prima-ry production remain under pres-sure.Nevertheless,at the sametime,as Arla Foods owners weshould be pleased that our com-pany has achieved a result whichfew international dairy groups canmatch this year.As the international market f
6、ordairy products continues to becharacterised by tough competition,were compelled to follow the courseoutlined in our strategy plan.Wehave,however,proved our abilityto operate a profitable business both under last years favourablemarket conditions and under thisyears more difficult circumstances.Arl