CONTENTS MANAGEMENT'S REVIEW 6 Long drought affected an otherwise good year 7 Key Performance Indicators 11 Financial results 12 Financial targets 2019 14 Risk management 16 Executive Board and group management 17 Danish Agro's Supervisory Board 18 Good corporate management 19 Drought and a historically low harvest yield 20 CSR 22 Food quality and safety 23 Highlights of the year 24 DIVISIONS 30 Agribusiness Denmark 32 Agribusiness International 38 Agribusiness Support 44 Agribusiness Machinery 50 Special Feed 60 Food Activities 66 ACCOUNTS 74 Management's report 76 Independent auditor's report 77 Income statement 79 Balance sheet 80 Equity specification 82 Cash flow statement 83 Accounting policies applied 84 Notes 88 Company details 98 Danish Agro group companies 99
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