CONTENTS 3 • MANAGEMENT’S REPORT 3 9 10 12 13 14 15 16 • • • • • • • • International strength and local presence behind record results Key Performance Indicators Financial targets for the Danish Agro group in 2016 Focus on sustainability Quality Risk management Executive Board and Group Executive Board Highlights of the year 22 • BUSINESS UNITS 24 • AGRIBUSINESS DENMARK 25 • Danish Agro a.m.b.a. 29 • Hedegaard A/S 31 32 32 33 34 34 34 35 35 36 37 37 38 38 38 39 39 39 • • • • • • • • • • • • • • • • • • AGRIBUSINESS INTERNATIONAL Ceravis AG Swedish Agro AB Hankkija Oy AS Baltic Agro, Estonia SIA Baltic Agro, Latvia UAB Baltic Agro, Lithuania Polish Agro Sp. z o.o. Hungaria Agro Kft. AGRIBUSINESS SUPPORT Nordic Seed A/S DLA Agro a.m.b.a. DAVA Energy A/S Scanola A/S AS Scanola Baltic Scanfedt A/S DanGødning A/S DGF sikring a.m.b.a. 40 41 41 42 • • • • AGRIBUSINESS MACHINERY Raitech Sp. z o.o. Agromex s.r.o Baltic Agro Machinery OÜ 42 • Hankkija Machinery 42 • Y-Agro Oy 43 44 44 45 45 45 45 46 46 47 47 47 48 48 • • • • • • • • • • • • • • SPECIAL FEED Vilomix International Holding A/S Vilomix Denmark A/S Vilovet A/S Vilofarm A/S Trinol A/S Hatting A/S Vilomix Vilomix Vilomix Vilomix Vilomix Vilomix Vilomix Norway AS Finland Oy Baltic SIA Sweden AB Ukraine LLC Rus OOO Shanghai Trading Co. LLC 49 • FOOD ACTIVITIES 50 • DAVA Foods Holding A/S 51 • DanHatch A/S 54 • ACCOUNTS 56 57 58 60 62 63 64 68 78 79 • • • • • • • • • • Management’s report Independent auditor’s declaration Income statement Balance sheet Equity specification Cash flow Accounting practice applied Notes Danish Agro’s Supervisory Board Company details
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