The Euro is the largest

Read time:
1 min
Published:
10 June 1999
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MD Foods' largest export currency is now the Euro. As several of MD Foods' largest export markets are within the new European currency area, which came into force on January 1, almost half MD's export accounts are now settled in Euros. In particular, the German mark, the French franc and the Italian lire have been replaced by the Euro.
Although the overall number of currencies used has fallen, the effect on MD Foods is moderate. The reason is, explains Finance Director Mogens Møller, that Denmark's economic policies have for years linked the Danish kroner closely to the German mark and, therefore, now to the Euro.
"MD Foods' foreign exchange risks primarily relate to sterling and US dollar which tend to fluctuate a great deal. When these currencies go up, MD Foods benefits. When they fall, it's to our disadvantage," says Møller.

Arla Foods is an international dairy company owned by more than 8,400 farmers from Denmark, Sweden, the UK, Germany, Belgium, Luxembourg and the Netherlands. Arla Foods is one of the leading players in the international dairy arena with well-known brands like Arla®, Lurpak®, Puck® and Castello®. Arla Foods is focused on providing good dairy nourishment from sustainable farming and operations and is also the world's largest manufacturer of organic dairy products.

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Arla Group Press Office
Arla Group Press Office (journalists/media only) pressoffice@arlafoods.com +4591310310