Upgrade of 2018 earnings expectations

As a result of higher-than-expected third-quarter revenue and operating profit, the Carlsberg Group is adjusting its 2018 earnings expectations upwards.

Good progress on our strategic priorities, strong execution of Funding the Journey and a warm summer in Western Europe are the main reasons behind the strong third-quarter performance. Consequently, we now expect: 

  • 10-11% organic operating profit growth (previously high-single-digit percentage growth).

A translation impact on operating profit of around DKK -500m (previously DKK -425m) is assumed, based on the spot rates as at 24 October. 

Other relevant assumptions are: 

Financial expenses, excluding currency losses or gains and fair value adjustments, are expected to be around DKK 800m (unchanged). 

The effective tax rate is expected to be below 29% (unchanged). 

Capital expenditures are expected to be DKK 4.0-4.5bn (previously around DKK 4.5bn). 


Please address enquiries to:

Head of Group External Communications

Kenni Leth

Tel +45 51 71 43 68 Email [email protected]

Vice President, Investor Relations

Peter Kondrup

Tel +45 2219 1221 Email [email protected]