Ambitious budget for 2008
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- 15 January 2008
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Budget 2008 has just been approved by the Supervisory Board.
"The budget is ambitious, especially on the backdrop of falling bulk prices and low dollar and sterling rates," says CEO Peder Tuborgh.
The 2008 budget is Arla Foods’ first following the cessation of export subsidies. Despite this, however, Arla Foods expects to maintain payments to the Group’s co-operative owners at a high level. This will be achieved by increasing the turnover by DKK 5 billion and pursuing the added value strategy.
The Supervisory Board has also approved an investment budget of DKK 1.5 billion, which is slightly above last year’s level. The budget provides for capacity expansion and new product areas.
Key figures 2008
Budgeted net turnover: DKK 52 billion (against the expected DKK 47 billion in 2007)
Budgeted net profit: DKK 906 million
Arla Foods is an international dairy company owned by 9,700 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.