Arla Foods is stepping up the pace of its investment programme in high-growth emerging markets. The company is capitalising on booming demand in areas such as Asia, Russia and the Middle East and Africa. Given the slow-to-no growth environment in European dairy, the investment case behind Arla's decision to look further afield is clear. But what impact will this have on the group's margins? We caught up with CFO Frederik Lotz to find out more.