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Group result of DKK 1.1 billion

Press Release   •   Nov 29, 2001 12:57 CET

Arla Foods’ consolidated result for the first full financial year following the merger totals DKK 1,157 million.

The accounts were presented to the Supervisory Board on Wednesday.

The result can only be compared with the result for the period April 17 to October 1 last year of DKK 392 million.
The result for the year should be seen within the context of the ex-farm result in Denmark of 260.68 Danish øre and a Swedish payment of 308.19 Swedish øre per kg.

Best result since 1992
The result is the best achieved in Denmark since 1992.
In the previous financial year, the total milk price, ex-farm, in Denmark amounted to 246.29 øre, while the Swedish milk price was 303.70 Swedish øre. The latest result, according to Group Managing Director Jens Bigum, is well above expectations at the beginning of the year.
”This is particularly the case for the Danish co-operative owners”, says Jens Bigum. ”However, the Swedish milk price is also better than expected.”

Based on the result, the Supervisory Board proposes a supplementary payment of 15.52 Danish øre per kg and a supplementary payment of 2.5 Swedish øre per kg to the Swedish co-operative owners in addition to the 5 Swedish øre which has already been paid. It is proposed that consolidation should be 5 Danish øre per kg.