Archer Daniels Midland 2009 Annual Report Download - page 3

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03
Overall, ADM’s 2009 net earnings were $1.7 billion. Revenues were essentially flat
at $69.2 billion. We increased our dividend and extended our record of uninterrupted
dividend payments to 77 years.
We strengthened our balance sheet and maintained our strong credit rating. We worked
to minimize exposure to counterparty risk. At June 30, 2009, the Company had $1.6 billion
of cash and short-term marketable securities and a healthy current ratio of 2.2 to 1.
We also focused on the efficiency of our operations. And we leveraged a different set
of opportunities to make strategic investments to build long-term value.
Overall, we succeeded in performing solidly in a tough year while laying the ground-
work for a bright future—one in which we will continue to dedicate our global asset
base and the talent of our workforce to delivering on our commitments to shareholders,
employees, customers, business partners and communities in which we operate.
Strategic progress
Our strategy is to: expand the size and global reach of our core model; expand the volume
and range of crops we originate and process; and increase the volume and diversity of our
product portfolio.
In our oilseeds processing business, we continued our work to fulfill that strategy
through the expansion of our crop origination capabilities in the world’s key growing regions
and the growth of our processing operations in markets that will see rising consumption.
In South America, one of those key growing regions, we added to our origination capacity
and our barge fleet. At our Rondonopolis, Brazil, oilseeds crushing complex, we expanded
biodiesel production capacity, which allows us to extract greater value from the vegeta-
ble oil we produce. We increased our fertilizer blending capacity to enhance our soybean
origination programs with local growers. We acquired a Peruvian oil packaging facility to
market higher-margin finished products. In Southeast Germany, we acquired a rapeseed
processing facility to improve our access to the growing Eastern European market. And
through our North American packaged-oil joint venture, Stratas Foods, LLC, we combined
ADM’s efficient origination, processing and refining operations with the sales expertise of
Associated British Foods, plc.
ARCHER DANIEL S MIDL AND COMPANY 2009 FORM 10 - K AND LETTER FROM THE CHAIRMAN