Arla Foods Consolidated Annual Report 2021
3
Arla Foods Consolidated Annual Report 2021
TABLE OF CONTENTS
MANAGEMENT REVIEW
04
2021 Performance at a glance
05
Message from the Chairman and the CEO
39
PERFORMANCE REVIEW
38 Market overview
Performance overview
06
Message from the Chairman:
45
Financial outlook
Creating the future of dairy
from the ground up
07 Message from the CEO:
47
Solid performance and sustainability
49
Board of Directors
action in another volatile year
52
08
Highlights
54
10 Five year overview
STRATEGY
GOVERNANCE
Governance framework
Executive Management Team
Management remuneration
55 Diversity and inclusion
RISK AND COMPLIANCE
Risk management
58
59
Risk overview - Critical risks
Our external reporting comprises of three reports: Annual report,
sustainability report and environmental, social and governance
(ESG) report. Each includes content tailored to its specific audience,
and cross-references to the other reports where relevant.
2021
BUILDING
STRENGTH IN
AVOLATILE
MARKET A
LURPAK
Annual report
Our annual report is our detailed annual account
of the company's performance, strategy and
governance. It includes our consolidated financial
statements and our externally audited ESG figures.
60 Risk overview - Major risks
13
Our business model
14 Good Growth 2020
prepared us for the future
15
Achievements of our Calcium programme
61
182222
16
Trends shaping our strategy
62
Future 26 Our new strategy
19
Lead sustainable dairy
20
Scale to grow
Build growth platforms
64
Collaborate for efficiencies
OUR SUSTAINABILITY JOURNEY
24
25
26
Our sustainability strategy
Stronger planet - Our environmental ambition
Sustainability on farms
27 Stronger people - Our societal ambition
OUR BRANDS AND
COMMERCIAL SEGMENTS
Europe
29
Our global brands
32
33
International
34
Arla Foods Ingredients
35
Global industry sales
Navigation in the report
Brings you back to the table of contents
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Our work with controls and compliance
Responsible and transparent tax practices
CONSOLIDATED
FINANCIAL STATEMENTS
Table of contents
65 Primary financial statements
73 Notes
117 Statement by the Board of Directors
and the Executive Board
118 Statement by the auditors
ENVIRONMENTAL, SOCIAL
AND GOVERNANCE (ESG) DATA
120 Table of contents
121 Sustainability performance at a glance
122 Committed to transparent action
123 Fiveyear overview
124 Notes
136 Statement by the auditors
137 Glossary
139 Corporate calendar
Consolidated
Annual Report
Sustainability report
Arla
Our sustainability report describes how we
work with social, ethical and environmental
commitments, and also serves as our annual
communication on our progress towards the
UN Global Compact, and the statutory statement
on CSR in accordance with section 99a of the
Danish Financial Statements Act.
Sustainability results
2021
ENVIRONMENTAL,
SOCIAL AND
GOVERNANCE
(ESG) REPORT
Arla
2021
Sustainability
Report
BUILDING
SUSTAINABLE
SOLUTIONS
Arla
Environmental, social and
governance (ESG) report
The ESG report focuses on presenting our ESG
data and corresponding methodologies and
accounting policies in detail. The ESG report
carries a reasonable assurance statement by EY.View entire presentation