In addition to beverage activities, Carlsberg has interests within the development and sale of real estate, primarily at its former brewery sites, and the operation of the Carlsberg Research Center. These activities generated operating profit of DKK 261m in 2007, against DKK 49m in 2006.
In common with a number of other European markets, the Danish real estate market has experienced something of a slowdown over the past year, with sales of off-plan flats declining as a result.
The brewery in Valby will close at the end of 2008, and the subsequent sale of real estate is expected to have a substantial positive effect on Carlsberg’s net interest-bearing debt and balance sheet in the medium term. The Carlsberg site at Valby in Copenhagen covers a total of approx. 330,000 m2. As part of the preparations, an architectural competition was held to explore development opportunities for the site.
The winning entry proposes total development of approx. 550,000 m2. Carlsberg anticipates continuing to use 60-70,000 m2 of the site in Valby after production is relocated. Drafting and approval of the public plan for the site are expected to take place in 2008.
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