2021 performance well ahead of pre-COVID 2019: strong top-line growth and operating cash flow; increased returns to shareholders.
2022 will be another challenging year. COVID-19 is expected to continue to impact our markets to various degrees. At the same time, our business will be impacted by substantial increases in input costs, which we aim to offset in absolute terms through higher revenue/hl and continued tight focus on costs. The higher revenue/hl may have a negative impact on beer consumption. As a result, 2022 guidance is:
• Organic operating profit growth of 0-7%.
Based on the currency spot rates at 3 February, we assume a translation impact of around DKK +250m for 2022.
CEO Cees ’t Hart says: “We’re very satisfied with the Group’s 2021 performance. Although our business was significantly impacted by COVID-19, we delivered strong top- and bottom-line growth and free cash flow. Our results in 2021 are well above the pre-pandemic levels of 2019.
“The Group’s financial situation is very strong, and we’re pleased to announce that the Supervisory Board recommends another solid increase in dividends for 2021 and a new share buy-back programme. The significantly higher input costs and continued impact from COVID-19 will pose challenges in 2022, but we’re well prepared.
“We have also launched our new strategy, SAIL’27, with clear priorities for our portfolio, geographies, execution and culture and with ambitious long-term growth aspirations for the Group. Building on the strong foundation of SAIL’22 and our ambitions for the next strategy
period, we’re convinced that we can continue our sustainable long-term value creation.”