Robust Performance by Carlsberg Group
Carlsberg Group has reported a 3% rise in net revenue to DKr62.50 billion (€8.37 billion) for 2018 with organic growth of 6.5%. Operating profit grew 5.1% to DKr9.329 billion – up 11% organically. Adjusted net profit was 9% higher at DKr5.359 billion.
During the year, Carlsberg successfully completed its Funding the Journey cost saving and profit improvement programme with total benefits of around DKr3 billion. The savings are helping to fund Carsberg Group’s ‘SAIL 22’ development strategy.
Cees ’t Hart, chief executive of Carlsberg Group, says: “We delivered a strong set of results for 2018. In line with our ambitions for SAIL’22, we accelerated top-line growth, improved margins, delivered a strong cash flow and reduced debt even further. At the same time, we invested significant resources in our brands and activities, and we continue to target top-line growth and profit improvement in the coming years.”
The global brewing group has initiated a share buy-back programme of DKr4.5 billion, leading to cash returns to shareholders for the year of DKr7.2 billion. For 2019, Carlsberg Group expects mid-single-digit percentage organic growth in operating profit.
