The Shape of the Carlsberg Group
Total Page:16
File Type:pdf, Size:1020Kb
Contents A Brief Presentation 2 Supervisory Board and Executive Board 4 The Shape of the Carlsberg Group 5 Highlights and Key Figures 7 Report for 1998/99 8 The Danish Brewing Operations 15 Carlsberg and the Environment 17 The International Brewing Operations 19 Nordic Region 19 UK 20 Central, Eastern and Southern Europe 21 Western Europe and Exports 25 Asia, Africa, North and Latin America 29 Carlsberg's Alcohol Policy 32 Carlsberg's Policy on Gene Technology 33 Soft Drinks, Coca-Cola Nordic Beverages 35 Group Staff Functions 37 Accounts for 1998/99 43 Financial Review 44 Accounting Policies 49 Turnover etc. in Major Subsidiaries 51 Group Companies 52 Profit and Loss Account 53 Balance Sheet 54 Cash Flow Statement 56 Notes to the Accounts 57 Auditors' Report 65 Subsidiaries and Associated Companies 67 Shares and Shareholders 71 Announcements to the Stock Exchange, Financial Calendar, Annual General Meeting 72 1 A Brief Presentation The Carlsberg Group is one of the world’s major interna- Ever since Carlsberg’s foundation, the Company has tional brewing groups, with Carlsberg and Tuborg being operated its own research departments. In 1875, the two of the most widely-sold beer brands on a global scale. Carlsberg Laboratory was established. It has now been integrated into the Carlsberg Research Center which has The Group comprises the Parent Company - the Carlsberg 80 laboratories equipped with the latest technology and a Breweries founded in 1847 and Tuborg Breweries founded staff of about 150. In addition to extensive basic research, in 1873 - and about 100 subsidiaries and associated com- brewing related research is conducted into enzyme chem- panies, the majority of which are situated outside istry, protein chemistry, carbohydrate chemistry, plant Denmark. The Group has a workforce of approximately breeding and genetics, as well as the malting, brewing 22,000 employees, if all associated companies are inclu- and fermenting processes. Moreover, process and product ded. It sells its products in about 150 markets. development takes place in a variety of departments within the Company. The core business of the Carlsberg Group is the produc- tion and sale of beer. More than 88 per cent of beer sales Carlsberg A/S is a company publicly quoted on the are achieved outside Denmark. International brewing Copenhagen Stock Exchange with some 11,000 registered operations include the export of beer brewed in Denmark, shareholders. The largest, single shareholder by far is the as well as local brewing at 73 production sites in 40 coun- Carlsberg Foundation, which is required by its charter to tries. Local production, according to the Group’s specifica- hold a minimum of 51 per cent of the share capital in tions, is handled partly by breweries in which the Group Carlsberg A/S. Only one other shareholder, the Danish holds capital interests, and partly by breweries and part- Labour Market Supplementary Pension Scheme, accounts ners with which agreements have been made for the pro- for more than 5 per cent of the shares. Over the years, duction and sale of Carlsberg and Tuborg beer. the employees of the Parent Company have accepted offers to buy shares on favourable terms or have been The Group's activities within the soft drink sector are car- granted shares in connection with Carlsberg's 150 years' ried out mainly by Coca-Cola Nordic Beverages A/S, anniversary in 1997. which produces and markets household names such as The Carlsberg Foundation was established by Carlsberg’s Coca-Cola, Fanta and Sprite in the Nordic countries. founder, Brewer J.C. Jacobsen, and its income goes to support Danish natural and social sciences as well as the The Group also has interests in other business areas, humanities. The Carlsberg Foundation also administers most significantly through the ownership of Royal and maintains the Frederiksborg Museum of National Scandinavia A/S, the largest applied arts group in the History and the Carlsberg Laboratory. Nordic countries. Royal Scandinavia incorporates the The New Carlsberg Foundation, a separate department of Royal Porcelain Manufactory, Bing & Grøndahl, Georg the Carlsberg Foundation with its own board of directors, Jensen Silversmiths, Holmegaard Glassworks and Illums has the special task of acquiring works of art for Danish Bolighus, the Swedish companies Orrefors Kosta Boda museums and institutions. It is also responsible for the and BodaNova-Höganäs Keramik, as well as the Italian administration and maintenance of the Ny Carlsberg art glassware company Venini. Glyptotek, in collaboration with the Danish government and the City of Copenhagen. The Group also includes Vingaarden, one of Denmark’s The Tuborg Foundation, which operates in support of largest wine and spirits companies and A/S Kjøbenhavns activities of benefit to society, is another department of Sommer-Tivoli. the Carlsberg Foundation with its own board of directors. The annual report includes examples of Carlsberg's interna- tional advertising campaign starring some of Carlsberg's world-famous means of distribution. Photos by Bent Rej. 2 A Brief Presentation On 30 September 1999 Vietnam's Prime Minister Phan Van Khai visited Carlsberg. The photo shows His Excellency Phan Van Khai (left), President and Group Chief Executive Officer Flemming Lindeløv and Group Managing Director Michael C. Iuul. 3 Supervisory Board and Executive Board Supervisory Board Executive Board Poul Chr. Matthiessen Flemming Lindeløv Professor D.Econ., Chairman. Member of the Supervisory President, Group Chief Executive Officer. Chairman of the Board of Royal Scandinavia A/S. Supervisory Board of Royal Scandinavia A/S. Deputy Chair- man of the Supervisory Board of Coca-Cola Nordic Beverages A/S. Member of the Supervisory Board of A/S Kjøbenhavns Erik B. Rasmussen Sommer-Tivoli, Carlsberg Brewery Hong Kong Limited, Hong Director, Deputy Chairman. Kong, Carlsberg Brewery Malaysia Berhad, Malaysia, Carlsberg Chairman of the Supervisory Board of A/S Dansk Shell. Finans A/S, Carlsberg-Tetley PLC, UK, Danbrew Ltd. A/S, Member of the Supervisory Board of Billetkontoret A/S. Dansk Olie og Naturgas A/S, Ejendomsaktieselskabet af 3/9 1930, Falcon Bryggerier AB, Sweden, H. Lundbeck A/S, Oy Sinebrychoff Ab, Finland, Superfos a/s. Hans Andersen Brewery Worker, Carlsberg A/S. Employee board member. Michael C. Iuul Torkild Andersen Group Managing Director, International. Chairman of the Professor, D.Ph. Supervisory Board of Carlsberg International A/S, Carlsberg Brewery Hong Kong Limited, Hong Kong, Carlsberg Marketing (Singapore) Pte Ltd., Singapore, Carlsberg-Tetley Brewing Jens Bigum Limited, UK, Carlsberg-Tetley PLC, UK, Danbrew Ltd. A/S, Managing Director, MD Foods amba. Hannen Brauerei GmbH, Germany, Oy Sinebrychoff Ab, Member of the Supervisory Board of Per Aarsleff A/S. Finland, Tuborg International A/S, United Breweries Interna- tional Limited A/S. Deputy Chairman of the Supervisory Board Povl Krogsgaard-Larsen of Carlsberg Brewery (Thailand) Co. Ltd., Thailand, Carlsberg Finans A/S, Carlsberg Italia S.p.A., Italy. Member of the Super- Professor, D.Sc., Ph.D., Dr.h.c. Member of the Board of visory Board of Aktieselskabet Th. Wessel & Vett, NESA A/S, Directors of Acadia Pharmaceuticals A/S. Sophus Berendsen A/S, Magasin du Nord, Carlsberg Brewery Malaysia Berhad, Malaysia, Carlsberg Malawi Brewery Limited, Jens Larsen Malawi, Carlsberg-Importers S.A., Belgium, Gorkha Brewery Porcelain Painter, Royal Scandinavia A/S. Ltd., Nepal, Grupo Cruzcampo S.A., Spain, Hue Brewery Ltd., Member of the Supervisory Board of Royal Scandinavia A/S. Vietnam, Israel Beer Breweries Ltd., Israel, South-East Asia Bre- Employee board member. wery Ltd., Vietnam, Unicer-União Cervejeira, S.A., Portugal, Carlsbrew Brewery (Shanghai) Company Limited, China, Carlsbrew Brewery (Guangdong) Ltd., China. Palle Marcus Managing Director. Chairman of the Supervisory Board of Coloplast A/S. Deputy Chairman of the Supervisory Board of Walther Paulsen Den Danske Bank Aktieselskab and Novo Nordisk A/S. Group Managing Director, Finance and Administration. Member of the Supervisory Board of Novo A/S. Deputy Chairman of the Supervisory Board of Royal Scandi- navia A/S. Member of the Supervisory Board of A/S Kjøben- havns Sommer-Tivoli, Carlsberg (UK) Limited, UK, Carlsberg- Axel Michelsen Tetley PLC, UK, Coca-Cola Nordic Beverages A/S, Danske In- Professor, D.Ph. vest Administration A/S, Det Berlingske Officin A/S, Ejendoms- aktieselskabet af 3/9 1930, Tuborg Nord I/S, Vingaarden A/S. Erik Dedenroth Olsen EDP Office Manager, Carlsberg A/S. Nils Smedegaard Andersen Employee board member. Group Managing Director, Nordic. Chairman of the Supervisory Board of Coca-Cola Nordic Beverages A/S, Danish Malting Group A/S, Dryckes Distributören AB, John Petersen Sweden, Falcon Bryggerier AB, Sweden, Svyturys Brewery, Silversmith, Royal Scandinavia A/S. Member of the Lithuania. Member of the Supervisory Board of Oy Sinebry- Supervisory Board of Royal Scandinavia A/S. choff AB, Finland, Hannen Brauerei GmbH, Germany. Employee board member. December 1999. The management's board memberships are Per Øhrgaard disclosed pursuant to the Danish Companies Accounts Act. Professor, D.Ph. 4 The Shape of the Carlsberg Group Supervisory Board Executive Board Beer Soft Drinks Other Companies Group Staff Functions Coca-Cola Nordic Denmark Beverages A/S United Kingdom Group Staff Functions • Corporate Communications Nordic Region • Secretariat • Corporate Marketing • Corporate Technology Organisation Central, Eastern and • Corporate Human Southern