Net profit rose to EUR 415 million from EUR 401 million the previous year.
"We went from limited milk volumes globally to a rapidly increasing surplus, which put pressure on prices. In such a situation, it is reassuring to see how strong our cooperative model is," said Jan Toft Nørgaard, chairman of Arla's board, in a press release.
Arla's board of directors proposes a dividend of 2.2 euro cents per kilogram of milk delivered to farmers.
