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Arla Foods result: DKK 1.16 billion

Press Release   •   Nov 28, 2002 09:45 CET

The Arla Foods Group achieved profits of DKK 1,161 million in the financial year 2001/02.

Matching last year’s profits of DKK 1,157 million, the result should be seen within the context of a result ex farm in Denmark of 261.14 Danish øre per kg and in Sweden of 311.28 Swedish øre per kg.

This represents a moderate increase on last year’s milk price for both Danish and Swedish co-operative owners. In Denmark 239.25 Danish øre was paid on account in 2001/2002 against 235.79 øre in 2000/2001 after adjustment for 4.2 % fat and 3.4% protein.

“The result is highly satisfactory, particularly in view of declining international trends and fluctuations in foreign exchange rates,” commented Jens Bigum, Managing Director, Arla Foods.

On the basis of the year’s result, the Supervisory Board of Arla Foods will recommend to the Board of Representatives that a supplementary payment of 12.78 Danish øre per kg is paid to Danish co-operative owners and 11.75 Swedish øre per kg to Swedish co-operative owners.

The Board also recommends that 5 Danish øre per kg is allocated to consolidation (6.21 Swedish øre per kg for Swedish co-operative owners) besides a reconsolidation of 2.06 Danish øre per kg (2.56 Swedish øre per kg). The reconsolidation is owing to the fact that payments from the personal accounts set up in connection with the Kløver Mælk and Arla mergers are now taking place.