CONTENTS 3 • MANAGEMENT'S REPORT 3 9 10 12 14 15 16 • • • • • • • Value growth for farmers from strongest pro ts to date Key Performance Indicators Financial targets for the Danish Agro group in 2015 CSR Risk management Danish Agro's Executive Board and Group Executive Board Highlights of the year 20 • THE FIVE BUSINESS UNITS 22 • AGRIBUSINESS DENMARK 23 • Danish Agro a.m.b.a 28 • HEDEGAARD agro A/S 30 31 31 32 32 32 33 33 33 34 34 35 36 37 37 38 38 38 39 39 • • • • • • • • • • • • • • • • • • • • AGRIBUSINESS INTERNATIONAL DAVA Agravis International Holding A/S AS Baltic Agro, Estonia SIA Baltic Agro, Latvia UAB Baltic Agro, Lithuania Polish Agro Sp. z.o.o. Raitech Sp. z.o.o. Agromex s.r.o. Hankkija Oy Y-Agro Oy Swedish Agro AB 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 42 42 42 43 43 43 44 44 45 45 45 • • • • • • • • • • • • • AGRIBUSINESS SPECIAL FEED Vilomix group Vilomix Denmark A/S Vilovet A/S Vilofarm A/S Trinol A/S Hatting A/S Vilomix Norway AS Vilomix Finland Oy Vilomix Baltic SIA Vilomix Sweden AB Vilomix Ukraine LLC Vilomix Rus 000 46 • FOOD ACTIVITIES 47 • DAVA Foods Holding A/S 48 • DanHatch A/S 50 • ACCOUNTS 52 53 54 56 58 59 60 64 74 75 • • • • • • • • • • Management’s report Independent auditor’s declaration Income statement Balance sheet Equity speci cation Cash ow Accounting practice applied Notes Danish Agro’s Supervisory Board Company details
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