Company type
Limited Partnership
Established
2010
Size
Large
Employees
766
Revenue
4,917 MDKK
Gross profit
1,350 MDKK
Operating Profit (EBIT)
667 MDKK
Profit for the Year
656 MDKK
Equity
1,719 MDKK
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Rank Profit for the Year

Rank in industry
4/47
"Top 10%"
Rank in Denmark
215/303,205
"Top 10%"

Top management Top 3

Board Top 3

Peder Tuborgh 7Chairman of board
Povl Krogsgaard 2Boardmember
Andreas Lundby 4Boardmember

Legal owners Top 3

100%Arla Foods Amba

Rights certificate

Selskabet tegnes af to bestyrelsesmedlemmer i forening, en direktør i forening med et bestyrelsesmedlem, af den samlede bestyrelse eller af komplementaren

Company information based on CVR

NameArla Foods Ingredients Group P/S
Alternate namesAfi Group P/S Show more
CVR33372116
AddressSønderhøj 10-12, 8260 Viby J
IndustryManufacture of other chemical products n.e.c. [205900]
Established15-12-2010 (10 yr)
Company typeLimited Partnership
Number of employees766 (Fin.Stmt)
Advertising protectionNo
AuditorEy Godkendt Revisionspartnerselskab since 15-12-2010
Financial statement period01-01 to 31-12
Company capital10,000,000 DKK
1,802,356 DKK (31-03-2011 - 31-03-2011)
500,000 DKK (28-02-2011 - 30-03-2011)
Articles of assoc. last22-05-2020

Member of industries

Purpose

Selskabets formål er at udøve virksomhed med udvikling, produktion og salg af lactose, mælkeprotein, permeatpulver, blandingsprodukter heraf (compounds) samt hermed beslægtet virksomhed

Financial Statement

 201920182017
Currency/unit000' DKK000' DKK000' DKK
Revenue
4,916,714
+6%
4,617,812
+36%
3,394,170
-
Gross Profit
1,350,430
+36%
993,346
+5%
949,492
-
Profit for the Year
655,583
+17%
559,046
+11%
503,725
-
Equity
1,719,221
+62%
1,063,638
+6%
1,004,592
-
Total Assets
3,945,594
+7%
3,699,395
+20%
3,075,663
-

Mangement review

The Company's principal activities
Arla Foods Ingredients (AFI) is a 100 per cent owned subsidiary of Arla and a global leader in whey-based ingredients used in a wide range of categories from infant, clinical and sport nutrition to bakery, beverages and dairy. In addition, AFI manufacture child nutrition products for third parties.

”Arla Foods Ingredients' mission is to discover and deliver all the wonders whey can bring to people's life.”

In the past, whey was regarded as a simple by-product from cheese production. Today whey is a high-value ingredient in its own right, and in the future. AFI's core customers request even more product differentiation than before. We bring unique protein and lactose solutions with considerable added value to our customers. Our products provide proteins for clear beverages in sport nutrition, protein fractions and lactose for infant formula getting even closer to mimicking human milk, and solutions for food applications with unique functional properties.

Development in activities and financial matters
In 2019 all of our business units within the ingredients segment pediatric, health & performance and food continued to increase sales. Our child nutrition business however experienced lower revenue due to repercussions from the major changes in Chinese infant formula regulations. Nevertheless, we continued with our strategy aiming to continuously grow our child nutrition products, which included investing in significant capacity increases to supply the strong global demand for organic child nutrition. In the beginning of the year, we started operations in our new infant milk formula (IMF) plant at Arinco, and this will ensure supply for our rapidly growing organic infant milk formula business.

In the beginning of the year started operations in our new infant milk formula (IMF) plant. This will ensure supply for our rapidly growing organic infant milk formula business.

AFI increased the revenue from 4.618 mDKK in 2018 to 4.917 mDKK in 2019. The increase in sales was characterized by lower prices for standard products, which was more than offset by the growing share of specialty products sold through 2019.

Earnings for the year of 656 mDKK is equivalent to an increase of 17 % which is at an satisfactory level and above the expectations disclosed in 2018. The increased earnings are mainly driven by the growing share of specialty products.

Post financial year events
After the end of the financial year, in March 2020, restrictions related to the spread of the Coronavirus have entered into force in Denmark and many other countries, which significantly reduces the global economic growth. We have implemented strict mitigating measures and management constantly evaluates the situation. Short term demand has increased with positive impact on sales following the continuing stable operations. The long-term impact is not possible to estimate at this point in time, however the growing demand for value adding whey based ingredients and child nutrition are expected to continue in 2020. However, this conclusion is based on the information available at the time of signing these financial statements and the impact of future events may differ from the management's current assessment.

Expectations for the future
In 2019 we have made progress on several important projects to increase our raw material supply, most of which are expected to continue into 2020.

Construction of our new Innovation Centre in Nr. Vium has been started in 2019 and the work will continue during 2020. Once the centre is completed it will become a world-leading centre of whey research. It will operate in close cooperation with our key production site, Danmark Protein. Construction will be completed by 2021.

Looking into 2020, growth remains at the top of our agenda with large investments set to be completed. In March 2020 the breakout of Corona has been seen in many markets. On short term demand has increased with positive impact on sales following the continuing stable operations. The long-term impact is not possible to estimate at this point in time, however the growing demand for value adding whey based ingredients and child nutrition are expected to continue in 2020. We therefore expect earnings for the year to be in the range of 600 mDKK to 750 mDKK.

Environmental issues
We prioritise investments and initiatives to reduce our environmental footprint and contribute to a stronger planet. Today, at our resource-intensive production plants, we strive to maximise our use of whey raw materials and minimise our environmental footprint. Energy, water and wastewater optimisation are an ongoing focus and challenge

Statement on Corporate Social Responsibility

The Danish Financial Statements Act §99 a
In accordance with §99 a of the Danish Financial Statements Act, we have not included a statement of our corporate social responsibility in the Annual report, as this is covered by Arla Foods group's CSR report.
- https://www.arla.com/company/responsibility/csr-reports/

AFI has also prepared a supplement to Arla's CSR report, which can be read on the company's website.
- https://www.arlafoodsingredients.com/about/corporate-social-responsibility/

The Danish Financial Statements Act §99 b
In accordance with §99 b of the Danish Financial Statements Act, the company follows the diversity policy applicable in the consolidated financial statements of Arla Foods amba, where the long-term goal is that no more than 70% of the Board of Directors or the Executive Board, respectively, shall be of the same gender.

In 2019, the Board's composition is 100% of the same gender. No new members of the Board of Directors were appointed during 2019, why the target figure was not met. It is expected that the obligation is met by the end of 2023.
The management in the company is defined as the executive management, and since the executive management only consists of one person the composition is 100%.
22-05-2020

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