NOURISHING MAGICAL MOMENTS AS OFDECEMBER31,2014/54Thfiscalyear 2014 ANNUAL REPORT ANNUAL REPORT 54Th FISCAL YEAR Message from the President
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Tapa y contra MEF ENG_2014.ai NOURISHING MAGICAL MOMENTS 2014 ANNUAL REPORT HEADQUARTERS IN BUENOS AIRES AND COMMERCIAL OFFICES HEADQUARTERS IN CÓRDOBA AND THE ARCOR FOUNDATION ANNUAL REPORT AND FINANCIAL STATEMENTS 2014 AND FINANCIAL STATEMENTS REPORT ANNUAL Follow us at: AS OF DECEMBER 31, 2014 / 54th FISCAL YEAR ANNUAL REPORT 54th FISCAL YEAR Message from the President 02 In 2014, the global economy kept its growth performance at an The continuous profit reinvestment process leveraged industrial estimated rate of 3.3%. The Eurozone began showing a slight 0.8% investments, which are part of the ongoing Company's plan. For recovery, leaving behind the -0.5% shrinkage in 2013. On the other example, the new electric power generation plant was finished in the hand, the United States has definitively overcome the recession, as sugar mill La Providencia and the works to build the new wet milling expected, with a 2.4% growth. plant continued, which would place us in a leading position in the glucose production. In Chile, the Bicentenario modern plant project In the region, new rates show the economy deceleration in several was finished. countries that have had a sustained growth over the last decade. At the average interannual growth rate, Latin American countries have shown The Sustainability Policy and the shareholders’ commitment towards their lowest rate since 2009, ending 2014 with a 1.1% GDP. sustainability continued growing steadily this year. The strategic planning process for the 2016/2020 period was launched. The Argentine economy decreased by -0.2%, as compared to 2013, when its growth rate stood at 2.9%. In turn, the Argentine peso During 2015, we are committed towards new challenges and, at the depreciated by 30.4% against the U.S. dollar. same time, we are consolidating projects we carried out in previous years. The region where our main activity is performed will present Regarding the activity and challenges undertaken by Arcor Group, 2014 new scenarios and constructions where we will have to carry out new ends with an increase in sales, as compared to the previous year. All strategic plans. the mass consumption businesses carried out important launches and business actions in the region. Undoubtedly, the entry into the category Once more, the aim is to promote and renew the entrepreneurial spirit of fried snacks and the celebration of Bagley's 150th anniversary were of those who founded and carried on this company at its inception, the most significant events. focusing on the business and ongoing innovation. Always giving priority to management and the sustainable development lines we traced. The financial policy was focused on generating the necessary funds for Respecting and adding value to our consumers, who are our main the normal course of business, as well as the investment plans executed. asset. Carrying out, together with our employees, plans that contribute In Argentina, Arcor Group issued new series of corporate bonds in pesos, to a better quality of life for our communities, contributing to achieving achieving an excellent market acceptance. the common good. Luis A. Pagani Arcor Group’s President 03 Arcor Group Today MANUFACTURES ITS MAIN FOOD COMPANY PRODUCT IN ARGENTINA PACKAGINGS UNDERTAKES A SUSTAINABLE FIRST GLOBAL MANAGEMENT MANUFACTURER OF HARD CANDIES FIRST EXPORTER EXPORTS TO MORE THAN OF CONFECTIONERY IN ARGENTINA, BRAZIL, CHILE AND PERU 120 COUNTRIES MORE THAN 63 MILLION PRODUCTION UNITS ARGENTINE PESOS IN SOCIAL CERTIFIED UNDER ISO 14001 INVESTMENT AND 26 UNDER OHSAS 18001 MORE THAN 16,000 COMMERCIAL OFFICES DISTRIBUTED IN PYMES (SMEs) AS SUPPLIERS AMERICA, EUROPE (SPAIN) AND ASIA (CHINA) 39 INDUSTRIAL PLANTS 29 IN ARGENTINA, 5 IN BRAZIL, 3 IN CHILE,1 IN MEXICO AND 1 IN PERU BAGLEY LATINOAMÉRICA S.A. A COMPANY MADE UP OF THE DANONE GROUP; IT IS ONE OF THE LEADING COMPANIES IN THE REGION IT IS VERTICALLY ARGENTINE LEADER IN THE INTEGRATED CORRUGATED CARDBOARD PRODUCTION INTO ITS SUPPLIES 04 Presence in more than 120 countries* MANUFACTURES ITS MAIN FOOD COMPANY PRODUCT IN ARGENTINA PACKAGINGS UNDERTAKES A SUSTAINABLE FIRST GLOBAL MANAGEMENT MANUFACTURER OF HARD CANDIES FIRST EXPORTER EXPORTS TO MORE THAN OF CONFECTIONERY IN ARGENTINA, BRAZIL, CHILE AND PERU 120 COUNTRIES MORE THAN 63 MILLION PRODUCTION UNITS ARGENTINE PESOS IN SOCIAL CERTIFIED UNDER ISO 14001 INVESTMENT AND 26 UNDER OHSAS 18001 MORE THAN 16,000 COMMERCIAL OFFICES DISTRIBUTED IN PYMES (SMEs) AS SUPPLIERS AMERICA, EUROPE (SPAIN) AND ASIA (CHINA) 39 INDUSTRIAL PLANTS 29 IN ARGENTINA, 5 IN BRAZIL, 3 IN CHILE,1 IN MEXICO AND 1 IN PERU BAGLEY LATINOAMÉRICA S.A. A COMPANY MADE UP OF THE DANONE GROUP; IT IS ONE OF THE LEADING COMPANIES IN THE REGION IT IS VERTICALLY ARGENTINE LEADER IN THE CORRUGATED CARDBOARD PRODUCTION INTEGRATED *These are the main countries INTO ITS SUPPLIES 05 Arcor around the World COMMERCIAL OFFICES ARCOR A.G. (S.A. LTD.) BRANCH IN SPAIN Barcelona, Spain (2002) ARCOR USA INC. Miami, USA (1993) ARCOR TRADING (SHANGHAI) CO., LTD. Shanghai, China (2006) UNIDAL MÉXICO S.A. de C.V. Mexico City, Mexico (2000) UNIDAL VENEZUELA S.A. INDUSTRIA DOS EN UNO DE COLOMBIA LTDA. Caracas, Venezuela (2005) Bogotá, Colombia (1998) ARCOR ALIMENTOS BOLIVIA S.A. UNIDAL ECUADOR S.A. Santa Cruz de la Sierra, Bolivia (2004) Guayaquil, Ecuador (1998) ARCORPAR S.A. ARCOR S.A.I.C. Asunción, Paraguay (1976) Buenos Aires, Argentina (Headquarters) VAN DAM S.A. ARCOR S.A.I.C. Montevideo, Uruguay (1979) Córdoba, Argentina (Headquarters) GAP REGIONAL SERVICES S.A. Montevideo, Uruguay (2008) INDUSTRIAL PLANTS ARGENTINA Entre Ríos Mendoza Bagley S.A., Villa del Totoral (1975) BRAZIL CHILE Cartocor S.A., Paraná (1980) La Campagnola S.A.C.I., San Rafael (1972) Arcor S.A.I.C., Arroyito (1994) Industria de Alimentos Dos en Uno S.A. (Planta Buenos Aires La Campagnola S.A.C.I., San Martín (2006) Arcor S.A.I.C., Colonia Caroya (1994) Arcor do Brasil LTDA, Rio das Pedras, São Paulo 1), Santiago de Chile (1998) Arcor S.A.I.C., San Pedro (1979) Catamarca Bagley S.A., Córdoba (1997) (1981) Industria de Alimentos Dos en Uno S.A. (Planta Bagley S.A., Salto (1995) Arcor S.A.I.C., Recreo (1988) San Juan Arcor do Brasil LTDA, Bragança Paulista, São 2), Santiago de Chile (1998) Cartocor S.A., (Planta 1) Luján (1997) Arcor S.A.I.C., Recreo (1988) La Campagnola S.A.C.I., Villa Krause (1985) San Luis Paulo (1999) Cartocor Chile S.A., San Francisco de Mostazal, Cartocor S.A., (Planta 2) Luján (2012) Arcor S.A.I.C., Recreo (1988) La Campagnola S.A.C.I., Villa Mercedes (1987) Bagley do Brasil Alimentos LTDA, Campinas, São O’Higgins (2007) Converflex Argentina S.A., Luján (2004) Córdoba Converflex S.A., Villa Mercedes (1987) Paulo (2005) La Campagnola S.A.C.I., Mar del Plata (2006) Tucumán Arcor S.A.I.C., Arroyito (1951) Arcor S.A.I.C., San Luis (1998) Bagley do Brasil Alimentos LTDA, Contagem, MEXICO Arcor S.A.I.C., La Reducción (1972) Cartocor S.A., Arroyito (1954) Bagley S.A., Villa Mercedes (2005) Minas Gerais (2005) Mundo Dulce S.A. de CV, Toluca, México (2008) Río Negro Arcor S.A.I.C., La Reducción (1975) Arcor S.A.I.C., Arroyito (1958) Arcor do Brasil LTDA, Recife, Pernambuco La Campagnola S.A.C.I., Choele Choel (2006) Arcor S.A.I.C., Rio Seco (1994) Converflex Argentina S.A., Villa del Totoral (2007) PERU (1979) Arcor de Peru S.A., Chancay, Huaral (1996) 06 ARCOR A.G. (S.A. LTD.) BRANCH IN SPAIN Barcelona, Spain (2002) ARCOR USA INC. Miami, USA (1993) ARCOR TRADING (SHANGHAI) CO., LTD. Shanghai, China (2006) UNIDAL MÉXICO S.A. de C.V. Mexico City, Mexico (2000) UNIDAL VENEZUELA S.A. INDUSTRIA DOS EN UNO DE COLOMBIA LTDA. Caracas, Venezuela (2005) Bogotá, Colombia (1998) ARCOR ALIMENTOS BOLIVIA S.A. UNIDAL ECUADOR S.A. Santa Cruz de la Sierra, Bolivia (2004) Guayaquil, Ecuador (1998) ARCORPAR S.A. ARCOR S.A.I.C. Asunción, Paraguay (1976) Buenos Aires, Argentina (Headquarters) VAN DAM S.A. ARCOR S.A.I.C. Montevideo, Uruguay (1979) Córdoba, Argentina (Headquarters) GAP REGIONAL SERVICES S.A. Montevideo, Uruguay (2008) ARGENTINA Entre Ríos Mendoza Bagley S.A., Villa del Totoral (1975) BRAZIL CHILE Cartocor S.A., Paraná (1980) La Campagnola S.A.C.I., San Rafael (1972) Arcor S.A.I.C., Arroyito (1994) Industria de Alimentos Dos en Uno S.A. (Planta Buenos Aires La Campagnola S.A.C.I., San Martín (2006) Arcor S.A.I.C., Colonia Caroya (1994) Arcor do Brasil LTDA, Rio das Pedras, São Paulo 1), Santiago de Chile (1998) Arcor S.A.I.C., San Pedro (1979) Catamarca Bagley S.A., Córdoba (1997) (1981) Industria de Alimentos Dos en Uno S.A. (Planta Bagley S.A., Salto (1995) Arcor S.A.I.C., Recreo (1988) San Juan Arcor do Brasil LTDA, Bragança Paulista, São 2), Santiago de Chile (1998) Cartocor S.A., (Planta 1) Luján (1997) Arcor S.A.I.C., Recreo (1988) La Campagnola S.A.C.I., Villa Krause (1985) San Luis Paulo (1999) Cartocor Chile S.A., San Francisco de Mostazal, Cartocor S.A., (Planta 2) Luján (2012) Arcor S.A.I.C., Recreo (1988) La Campagnola S.A.C.I., Villa Mercedes (1987) Bagley do Brasil Alimentos LTDA, Campinas, São O’Higgins (2007) Converflex Argentina S.A., Luján (2004) Córdoba Converflex S.A., Villa Mercedes (1987) Paulo (2005) La Campagnola S.A.C.I., Mar del Plata (2006) Tucumán Arcor S.A.I.C., Arroyito (1951) Arcor S.A.I.C., San Luis (1998) Bagley do Brasil Alimentos LTDA, Contagem, MEXICO Arcor S.A.I.C., La Reducción (1972) Cartocor S.A., Arroyito (1954) Bagley S.A., Villa Mercedes (2005) Minas Gerais (2005) Mundo Dulce S.A.