DOCSLIB.ORG

Carlsberg Annual Report 2012 Market Overview

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Carlsberg Annual Report 2012 Market Overview CARLSBERG ANNUAL REPORT 2012 MARKET OVERVIEW 3 2 1 OUR MARKETS Denmark Norway Sweden Finland Poland Germany The Baltic StatesUnited KingdomFrance Switzerland Italy Portugal South East Europe Russia Ukraine Kazakhstan Belarus Azerbaijan Malaysia Singapore Hong Kong China Vietnam Laos Cambodia Nepal India Population (millions) 5.6 5.0 9.5 5.4 38.2 81.8 6.5 63.1 63.4 8.0 60.9 10.7 30.5 141.9 45.4 16.7 9.4 9.2 29.0 5.4 7.2 1,353.8 90.4 6.4 15.3 31.0 1,223.2 Est. GDP/capita PPP (USD) 37,738 55,264 41,750 36,458 20,976 39,059 23,3704 36,728 35,520 45,286 30,116 22,991 21,636 17,698 7,598 13,921 16,008 10,684Asia 16,942 60,883 50,709 9,146 3,545 3,005 2,398 1,306 3,851 Est. real GDP growth (%) 0.5 3.1 1.2 0.2 2.4 0.9 2.4-4.5 -0.4 0.1 0.8 -2.3 -3.0 -6.0-1 3.7 3.0 5.5 4.3 3.9 4.4 2.1 1.8 7.8 5.1 8.3 6.5 4.6 4.9 Infl ation, avg. consumer prices (%) 2.6 1.0 1.4 2.9 3.9 2.2 2.4-4.4 2.7 1.9 -0.5 3.0 2.8 0.9-5.9 Europe Eastern 5.1 2.0 5.0 60.2 3.0 2.0 4.5 3.8 3.0 8.1 5.1 3.6 8.3 10.3 Western Europe OUR OPERATIONS Breweries 1211324111125 103111 1--405 66 2116 Employees 1,643 1,261 946 827 1,239 581 1,004 1,665 1,508 1,287 328 661 1,782 8,864 1,787 421 597 239 687 74 200 6,625 832 1,095 1,457 354 615 OUR POSITION Market position (no.) 1 1 1 1 3 1 7 1-2411412-312211 22215 28 1113 Market share (%) 54 53 33 53 18 18 33-40 15 29 43 7 48 15-28 38 29 33 26 69 44 20 24 50-55 38 98 64 74 7 Primary competitive climate (int./local) Local Local Local Int. Int. Int./local Local Int. Int. Int. Int. Int. Int. Int. Int. Int. Int./local Local Int. Int. Int. Local 5 Int. Local Int. Local Int. CONSUMPTION CHARACTERISTICS1 On-trade share of market, approx. (%) 26 26 21 15 13 18 4-9 58 21 43 40 60 22-55 8 11 33 3 20 74 54 42 45 50 60 60 80 17 Per capita beer consumption (litres) 78 46 50 88 99 106 76-99 73 29 59 29 50 32-75 64 59 29 52 6 6 20 24 39 38 32 27 2 2 1 2012E. Sources: IMF, Canadean and Carlsberg estimates. 2 Estonia, Latvia, Lithuania. 3 Bulgaria, Croatia, Serbia, Greece. 4 Weighted average. 5 Western China, incl. Chongqing. 6 Excl. Habeco. 7 Northern Germany (Schleswig-Holstein, Hamburg, Lower Saxony). 8 Incl. Habeco. MANAGEMENT FINANCIAL REVIEW STATEMENTS 6Letter from the Chairman 59Consolidated fi nancial statements 7CEO statement 132 Management statement 11 In the spotlight: EURO 2012 133 Auditors’ report 12 Our regions 135 Supervisory Board 18 In the spotlight: Asia 138 Parent Company Carlsberg A/S 20 Our strategy: Preparing for the future 30 Value chain – CSR 32 In the spotlight: Thirst for Beer 35 Risk management 38 In the spotlight: Sustainable packaging 39 Corporate governance 46 Remuneration report 50 Executive Committee 52 Shareholder information 54 Financial review DISCLAIMER This Annual Report contains contain the words “believe, then current expectations or actual results to differ production- and distribution- can arise, and it may not be forward-looking statements, anticipate, expect, estimate, forecasts. Such information materially from those ex- related issues, information possible for management to including statements about intend, plan, project, will is subject to the risk that such pressed in its forward-looking technology failures, breach predict all such risk factors, the Group’s sales, revenues, be, will continue, will result, expectations or forecasts, or statements include, but are or unexpected termination nor to assess the impact of earnings, spending, margins, could, may, might”, or any the assumptions underly- not limited to: economic of contracts, price reductions all such risk factors on the cash flow, inventory, products, variations of such words ing such expectations or and political uncertainty resulting from market-driven Group’s business or the ex- actions, plans, strategies, or other words with similar forecasts, may change. The (including interest rates and price reductions, market tent to which any individual objectives and guidance with meanings. Any such state- Group assumes no obligation exchange rates), financial acceptance of new products, risk factor, or combination respect to the Group’s future ments are subject to risks and to update any such forward- and regulatory develop- changes in consumer prefer- of factors, may cause results operating results. Forward- uncertainties that could cause looking statements to reflect ments, demand for the ences, launches of rival prod- to differ materially from looking statements include, the Group’s actual results to actual results, changes in Group’s products, increasing ucts, stipulation of market those contained in any without limitation, any differ materially from the assumptions or changes in industry consolidation, com- value in the opening balance forward-looking statement. statement that may predict, results discussed in such other factors affecting such petition from other breweries, sheet of acquired entities, Accordingly, forward-looking forecast, indicate or imply forward-looking statements. forward-looking statements. the availability and pricing of litigation, environmental statements should not be future results, performance Prospective information is Some important risk factors raw materials and packaging issues and other unforeseen relied on as a prediction or achievements, and may based on management’s that could cause the Group’s materials, cost of energy, factors. New risk factors of actual results. Editors Carlsberg Group Communications Design and production Kontrapunkt Photos Nana Reimers Translation and proofreading Borella projects This report is available in Danish and English. In the event of any discrepancy between the two versions, the Danish version shall prevail. 4 Management review The Carlsberg Group is the fourth largest CARLSBERG brewer in the world. Our extensive port- folio of beer brands provides a beer for GROUP every occasion and palate. Our fl agship No. 4 brand, Carlsberg, is one of the best- 4th largest global brewer known beer brands in the world, and Baltika, Carlsberg, Tuborg and Kronen- bourg are among the biggest brands in Europe. In addition, we have a wide range of leading beer brands in local markets. Our business is focused in Western Europe, Eastern Europe and Asia, where we have strong market positions. The rest of the world is mainly serviced through export or licence agreements. 2012 in brief 9.8 DKKbn operating profi t • Successful execution of Carlsberg’s EURO 2012 sponsorship across all regions. • Rejuvenated Tuborg achieved strong Pro rata beer volumes results in Russia, China and India. Western Europe Eastern Europe Asia • Carlsberg teamed up with a group of global beer, wine and spirits producers to commit to joint actions against the harmful use of alcohol. 5.9DKKbn free cash fl ow Carlsberg is the second largest brewer WESTERN in Western Europe. The region mainly comprises mature markets and is gener- EUROPE ally characterised by well-established 40bp retail structures and a strong tradition of Market share growth beer consumption in most markets. Beer consumption is generally fl at or slightly declining. However, the uncertain macro- environment has had a slightly negative impact on consumption and has also led to a shift from on-trade to off-trade consump- tion. The main focus is twofold: increas- ing market share through improved value management, superior in-store execution and driving international and local premium brands; and simplifying our business model, 5.1 increasing effi ciencies and taking out costs DKKbn operating profi t while providing superior customer service and top-quality products. 2012 in brief • Challenging consumer dynamics and bad weather in Q2 and July led to a market decline of around 3%. • Overall market share up, driven by the continued focus on the commercial agenda. • Operating margin impacted by higher input costs, bad weather 25 and country mix. Breweries in 18 countries Carlsberg Annual Report 2012 5 Carlsberg holds a strong no. 1 position in EASTERN the region’s main market, Russia, and very strong positions in the other markets in the EUROPE region. The Russian beer market was fl at in 38.2% 2012, having experienced declining volumes 2012 Russian market share over the past few years due to the macro- economic downturn following the fi nancial crisis and unavoidable, signifi cant price increases. Value growth has been healthy and consistent. We expect the Russian beer volume market to revert to positive average annual growth rates. Ukraine is the second largest market and Carlsberg holds a strong no. 2 position. Volumes in the region are driven by increasing disposable incomes, improving consumer dynamics and con- sumers aspiring to brands and innovation. 4.3 DKKbn operating profi t The retail universe is in a developing stage with traditional trade still dominant. 2012 in brief • Flat Russian beer market impacted by short-term disruption from closures of non-stationary outlets. • Russian market share up sequentially in 2012, driven by implementation of Group tools, including value management and portfolio optimisation. • Buyout of minorities in Baltika Breweries completed. RURussia – the Group’s largest market Carlsberg’s Asian portfolio of businesses ASIA consists of mature markets such as Malaysia, Hong Kong and Singapore as well as investments in growing beer markets 9% such as China, India and Vietnam.
Load more

Recommended publications
  • Competitive Analysis & Two-Firm Comparison Paper Carlsberg Group
    Competitive Analysis & Two-Firm Comparison Paper Carlsberg Group | Sapporo Holdings Brandon Altman Professor Geraldine Wu International Studies Program: Europe Spring 2019 Word Count: 2393 – Excluding Titles 2 Table of Contents Part 1: Industry Analysis Pg. 3 Part 2: Firm Analysis Pg. 6 Part 3: Location Matters Pg. 9 References Pg. 12 ___________ Competitive Analysis & Two-Firm Comparison Paper 3 Part 1 Industry Analysis ______________________________________________________________________________ Competitive Analysis & Two-Firm Comparison Paper 4 Nature of Danish Beer Industry: The Danish beer market has proven to be an extremely attractive industry, as evidenced by the shocking increase in beer-firm numbers over the past two decades. According to Draft Mag, “at the end of the 20th century, Denmark had around a dozen breweries to its name, most conspicuously Carlsberg, one of the world’s largest brewers of industrial lager. A decade into the 21st century, the nation boasted almost 150 breweries.” This microbrewery boom brought in a large variety of craft beers that have tended to do especially well given that “the notoriously unstable Danish weather [caused] an increase in sales of craft beer due to people being driven away from the beaches and into bars or their own homes, where the consumption of craft and specialty beers is higher” (Euromonitor). On a competitive level, Denmark is a somewhat difficult market to compete in on a large scale. As stated by Euromonitor, “beer in Denmark continued to be highly consolidated with the two
    [Show full text]
  • Grimbergen and CARLSBERG GROUP
    CLIENT STORY Grimbergen AND CARLSBERG GROUP Burned, but not destroyed. Known for the stately gold phoenix on its label, Gimbergen beer is a unique drink. An abbey beer, Grimbergen got its start almost 900 years ago at the Grimbergen Abbey, in a little village just north of Brussels. While the setting was perfectly idyllic, the abbey was destroyed by three separate fires since 1128. Undeterred by hardship, the Grimbergen Fathers rebuilt the abbey time and time again—reviving their homemade beers each time. Today, Grimbergen beer maintains its legacy of hospitality, comfort, and good taste when you want to spoil yourself after a hard day of work, while ensuring a reliable experience. A welcoming pint of Grimbergen brings people together, just like it always has. In 2008 the Carlsberg Group, established in 1847 by master brewer J.C. Jacobsen, recognized the potential of bringing Grimbergen’s amazing beer and its story to markets outside of Belgium and helped launch large scale marketing campaigns to an international audience. One of the world’s leading brewery groups, the Carlsberg Group boasts over 140 brands in its portfolio of beer and other beverage brands and is committed to producing the beverages at the heart of moments that bring people together. Right now, the Carlsberg Group has more than 40,000 employees and sells its products in more than 150 markets. As the Group likes to say, they are living their purpose of brewing for a better today and tomorrow. To build on their legacy of success and keep pace with changing markets, Grimbergen wanted to shift their energy toward becoming a lifestyle brand—showcasing the unique stories and how Grimbergen is more than a beer—it’s an experience.
    [Show full text]
  • Carlsberg A/S Q3 2020 Trading Statement Conference Call
    Carlsberg A/S Q3 2020 Trading Statement Conference Call 28 October 2020 PARTICIPANTS Corporate Participants Cees ’t Hart – Chief Executive Officer, Carlsberg A/S Heine Dalsgaard – Chief Financial Officer, Carlsberg A/S Other Participants Simon Hales – Analyst, Citigroup Global Markets Ltd. Jonas Guldborg Hansen – Analyst, Danske Bank Trevor Stirling – Analyst, Sanford C. Bernstein Ltd. Søren Samsøe – Analyst, SEB Enskilda (Denmark) Laurence Whyatt – Analyst, Barclays Capital Securities Ltd. Tristan van Strien – Analyst, Redburn (Europe) Ltd. Fintan Ryan – Analyst, JPMorgan Pinar Ergun – Analyst, Morgan Stanley MANAGEMENT DISCUSSION SECTION Cees ’t Hart, Chief Executive Officer, Carlsberg A/S Good morning, everybody, and welcome to Carlsberg’s Q3 2020 conference call. My name is Cees ’t Hart and I have with me, CFO, Heine Dalsgaard; and Vice President of Investor Relations, Peter Kondrup. I hope you and your families are all safe and well and that you’re all getting through these challenging times. As you probably noticed, we issued our Q3 announcement, including an upgrade of our full-year earnings expectation, already last night. The upgrade is done in light of strong performance in Q3, positive volume development in Russia and China at the beginning of Q4, solid execution of cost reduction; and this, despite the current uncertainty in rest of Europe. We are, of course, very pleased with the new outlook. As said at previous quarters this year, however, the pandemic is having a significant impact on our business. We continue to take steps to protect our people, support our communities and protect the commercial and financial health of the Group, both in short and long-term.
    [Show full text]
  • The Best Year
    Carlsberg Brewery Malaysia Berhad (9210-K) Berhad Malaysia Brewery Carlsberg Annual Report 2018 Annual Report PROBABLY THE BEST Carlsberg Brewery Malaysia Berhad (9210-K) No. 55, Persiaran Selangor, Section 15 40200 Shah Alam, Selangor Darul Ehsan, Malaysia Tel : +603 5522 6688 Fax : +603 5519 1931 YEAR www.carlsbergmalaysia.com.my ANNUAL REPORT 2018 TABLE OF CONTENTS 2 Carlsberg Malaysia Group at a Glance 90 Audit & Risk Management Committee Report 4 Our Winning Portfolio of Brands 93 Responsibility Statement 6 Probably The Best Year by the Board of Directors 8 2018 Brand Highlights 94 Financial Statements 28 Chairman’s Address 183 Carlsberg Malaysia’s Sales Offices 30 Managing Director’s Message and 184 Particulars of Group Properties Management Discussion & Analysis 185 Analysis of Shareholdings 40 Sustainability Statement 187 Material Contracts 64 Management Team 188 List of Recurrent Related Party Transactions 66 Profile of Management eamT 190 Notice of Annual General Meeting 68 Profile of the Directors 195 Statement Accompanying Notice of Annual 72 Corporate Governance Overview Statement General Meeting 86 Statement on Risk Management Form of Proxy & Internal Control Corporate Information COVER RATIONALE This year’s theme of Probably the Best Year reflects the success we enjoyed on several fronts. We recorded strong top- and bottom-line growth as our mainstream, premium, craft and cider brands all grew. We delivered considerable value for shareholders with total declared and proposed dividends of 100.0 sen per ordinary share, driven by a 25.3% growth in net profit*. *Net profit refers to Group’s profit attributable to shareholders of the Company ANNUAL REPORT 2018 CARLSBERG +7.4% +25.3% +14.6%* FREE MALAYSIA GROUP NET PROFIT REVENUE CASH FLOW RM1.98 bil AT A GLANCE RM277.2 mil RM328.0 mil 100% Ownership 100% Ownership 51% Ownership MALAYSIA Carlsberg Marketing Sdn.
    [Show full text]
  • Carlsberg Annual Report Market Overview
    Carlsberg Annual Report Market overview 2 1 Our markets Denmark Norway Sweden Finland Poland Germany The Baltic StatesUnited KingdomFrance Switzerland Italy Greece Population (millions) 5.5 5.0 9.4 5.4 38.1 81.4 6.9 62.6 63.2 7.8 60.6 11.2 10.7 19.3 142.4 45.6 16.5 28.6 9.4 9.1 28.7 5.3 7. 2 1,348.1 89.3 6.6 14.4 28.5 1,206.9 Est. GDP/capita PPP (USD) 37,742 53,376 40,614 36,723 20,137 37,936 17,95 8 4 35,974 35,049 43,509 30,166 27,6 24 23,204 13,740 4 16,687 7,19 9 13,060 3,294 14,948 10,217 15,579 59,937 49,342 8,394 3,355 2,659 2,286 1,328 3,703 Est. real GDP growth (%) 1.5 1.7 4.4 3.5 3.8 2.7 4-6.6 1.1 1.7 2.2 0.6 -5.0 -2.2 0.8-2.5 4.3 4.7 6.5 7.1 5.0 0.2 5.2 5.3 6.0 9.5 5.8 8.3 6.7 3.5 7.8 Inflation, avg. consumer prices (%) 3.2 1.7 3.0 3.1 4.0 2.2 4.2-5.1 4.5 2.1 0.7 2.6 2.9 3.4 3.2-11.3 8.9 9.3 8.9 13.1 41.0 9.3 3.2 3.7 5.5 5.5 18.8 8.7 6.4 9.5 10.6 Est.
    [Show full text]
  • Q 2 Shareholder M Agazine a Ugust 2013
    Q2 Shareholder Magazine August 2013 WorldReginfo - a00da095-b474-43bf-a8db-f2f5b26cb8fd Q2 August 2013 3 Photo front page: GreenFest Russia The Tuborg brand is closely connected with music and sponsors music events across a large number of Carlsberg’s markets. The DEAR CARLSBERG Tuborg GreenFest is an annual series of rock music events which has Tuborg as its main sponsor. Read more on page 9. SHAREHOLDER Welcome to this edition of News! focused and by improving our ability to commercialise our ideas and knowledge. CONTENTS In the first half year, we grew our earnings In this edition of News, we have dedicated despite tough European markets. Asia con- four pages to shed more light on how we tinued its strong performance, supported work with innovation and provide exam- by strong growth from our international ples of recent innovations in our markets. premium brands. In Russia, we increased Please see pages 4-7. 03 CEO statement our market share in a declining beer 04 Innovation – the legacy and the future market, which continued to be impacted The Carlsberg Group has a long tradi- 06 A taste of Carlsberg Group innovations closure of non-permanent outlets and tion for sponsorships and they play an slower economic growth. In Western important part in our marketing efforts. 08 Sponsorship – it’s all about passion Europe, our market share remained flat, We consider sponsorships an efficient and 10 A glimpse of Carlsberg Group Jørgen a solid performance bearing in mind the engaging way of building brand awareness 13 Financial Statements as at 30 June 2013 Buhl Rasmussen difficult economic environment and tough and communicating with our consumers.
    [Show full text]
  • Annual Report 2013 Management Financial Review Statements
    Annual Report 2013 Management Financial review statements 3 The Carlsberg Group at a glance 54 Consolidated financial statements 8 Letter from the Chairman 140 Parent Company 9 Statement from the CEO 160 Management statement 12 In the spotlight: Supply chain 161 Auditors’ report 13 Our regions 19 In the spotlight: China 20 Our business model and Strategy Wheel 21 KPIs 22 Strategy 28 CSR in the value chain 29 CSR targets 30 In the spotlight: Self-regulation 31 Risk management 35 In the spotlight: Sponsorships 36 Corporate governance 43 Remuneration report 49 Executive Committee 50 Shareholder information 52 Financial review 162 Supervisory Board DISCLAIMER This Annual Report contains forward-looking may contain the words “believe, anticipate, then current expectations or forecasts. Such actual results to differ materially from those distribution-related issues, information tech- not be possible for management to predict all statements, including statements about the expect, estimate, intend, plan, project, will be, information is subject to the risk that such expressed in its forward-looking statements nology failures, breach or unexpected termina- such risk factors, nor to assess the impact of Group’s sales, revenues, earnings, spending, will continue, will result, could, may, might”, expectations or forecasts, or the assumptions include, but are not limited to: economic and tion of contracts, price reductions resulting all such risk factors on the Group’s business or margins, cash flow, inventory, products, or any variations of such words or other words underlying such expectations or forecasts, may political uncertainty (including interest rates from market-driven price reductions, market the extent to which any individual risk factor, actions, plans, strategies, objectives and with similar meanings.
    [Show full text]
  • FIC Guide 2009/10
    Guide to the Foreign Investors Council / 3 SPECIAL EDITION CONTENTS Guide to the STABLE BANKING SECTOR PHARMACEUTICALS RECESSION RESISTANT COMMENT - Radovan Jelašić, Gover- MARKET ANALYSIS FOREIGN by Erste Group 6 nor of the National Bank of Serbia 50 PREPARING FOR THE END OF THE CRISIS INVESTORS INTERVIEW - Aleksandar BUSINESS NEWS 8 Radosavljević, FIC President and 53 COUNCIL CEO of Carlsberg Srbija ADVANTAGES IN CRISIS 2009/2010 INVESTING IN SCIENTIFIC INFRASTRUC- INTERVIEW TURE 54 - Michael Kefalopoulos, General INTERVIEW - Božidar Đelić, Deputy Director of Mellon d.o.o. FASTER REFORMS REQUIRED IMPRESSUM 14 Serbian Prime Minister and Minister of Science & Technology INTERVIEW - Nenad Vuković, EDITOR IN CHIEF LEADERS 56 Member of the FIC Board of Direc- Tatjana Ostojić 20 tors, President of Henkel Serbia [email protected] SEEKING CONSISTENCY BUSINESS NEWS EDITOR INTERVIEW - Kjell-Morten Johnsen, 59 EU-STANDARD LAWS Mark R. Pullen 22 FIC Vice President, CEO of Telenor YEAR OF CRISIS & REFORM BUSINESS - Jelena Pejčinović ART DIRECTOR INTERVIEW - Nebojša Ćirić, 60 (FIC), Executive Secretary of the Tamara Ivljanin ADCPI Committee [email protected] 26 State Secretary in the Serbian Economy and Regional BUSINESS EDITORIAL Development Ministry 61 NEWS CONTRIBUTORS WORLD ECONOMIC FORUM REGULATING A CHANGING INDUSTRY Mark R. Pullen, Ana Stojanović Switzerland INTERVIEW - Vera Nikolić Dimić (Vip Mobile), Head of the FIC Tel- PHOTO 30 on top 62 Slobodan Jotić NEW FIXED-LINE OPERATORS ecommunications Committee and INTERVIEW - Jasna Matić, Serbian
    [Show full text]
  • An Introduction to Coloplast 2015 Table of Contents
    An introduction to Coloplast 2015 Table of contents Our Waking up Ostomy Care 04 commitment 06 to a new life 08 Breaking This is A partner 10 new ground 12 Coloplast. 14 in care How can I help? I am Simon Continence What women 16 18 Care 20 want Pioneering Urology Care No two days 22 new 24 26 are the same technologies Wound & A woman with Going west 28 Skin Care 30 a mission 32 in China A career, Coloplast Awards 34 not a job 36 globally 38 3 Lars Rasmussen, President, CEO Our commitment More than 2.5 million people live with a stoma; around 348 million suffer from incontinence; over 40 million are treated for chronic wounds every year. That’s a lot of people. We’re committed to help them live active, rewarding lives. hanks to life-saving surgery that meet their needs. That’s why we role in making this happen. By bringing and medication, we live work with healthcare authorities all innovative products to market. Working longer and survive conditions over the world to raise standards of to increase understanding – at all T that used to be fatal. As a care and promote choice of treatment. levels of society. And providing the consequence, however, many people We also engage with the people who information and inspiration users have to live with a chronic, intimate use our products to fully understand need to live the life they want to lead. healthcare condition for the rest of their daily challenges – and offer the their lives. guidance they need to manage their But let’s start by breaking the silence.
    [Show full text]
  • Using History to Motivate Change
    Using History to Motivate Change Creative and entrepreneurial employees thrive on a sense of the organisational past. How to change an organisation? The answer to this Five steps question is made surprisingly difficult by those who think that change is unnecessary, change is risky, To all appearances, the two projects could hardly and in any case it should be change exactly as they have been more different, yet they followed a want it; nothing else will do. Using organisational remarkably similar progression, which the history to promote a change effort is an old trick that researchers describe in five steps (the paper dubs makes a lot of sense, because it is a way of claiming them “five micro-processes of historicizing”). that change is actually a return to a golden age. And history can be edited in many ways; managers use • Rediscovering – At first, the brewers hit upon this trick of repurposing organisational history. Semper Ardens as a cool-sounding name for their proposed beer, having seen it on a stone carving But can it be more than a managerial trick to above the door of the Carlsberg laboratory in manipulate the organisation? New research by Copenhagen (formerly the company headquarters) Mary Jo Hatch and Majken Schultz in where they held weekly beer-tasting sessions. In Administrative Science Quarterly shows how 2009, the BrightHouse consultants learned of the change can be created in a more entrepreneurial phrase through interviews with master brewers. fashion. The research follows two distinct and Both sets of actors gravitated to, as one master independent occasions that Carlsberg brewery brewer put it, the “powerful mysterious phrase” used its old motto, the Latin phrase Semper Ardens because it seemed infused with the historical (“always burning”), to foster change.
    [Show full text]
  • Carlsberg Group Sustainability Report 2015
    Carlsberg Group Sustainability Report 2015 Sustainability Report 2015 Contents 2 MANAGEMENT REVIEW 3 Carlsberg Group introduction 4 Selected highlights 5 Foreword from our CEO Resources & Environment, page 10 7 Our sustainability strategy 9 Sustainability throughout the value chain 10 Resources & Environment 23 Health & Well-being 34 People & Policies APPENDICES 47 Section 1: Data summary table 51 Section 2: Independent assurance report 52 Section 3: Global Reporting Initiative table Health & Well-being, page 23 58 Section 4: Reporting process and scope 60 Section 5: Definitions 61 Section 6: List of reporting sites Editor Carlsberg Group Sustainability Design and production Kontrapunkt Copywriting One Stone Advisors Proofreading Borella projects People & Policies, page 34 Sustainability Report 2015 Carlsberg Group introduction 3 BALANCED GEOGRAPHY Carlsberg Group 2015 Our regional exposure has changed in recent years and introduction 28% the growing Asia region now 21% 2014 accounts for 28% of Group 51% 53% operating profit. 28% 19% Western Europe Eastern Europe 65.4bn Asia Net revenue (DKK) 8.5bn Operating profit before special items (DKK) 7.5bn Free cash flow (DKK) 8.1% Return on invested capital (ROIC) Learn more about our business model and 47,464 financial performance in our Annual Report 2015, Employees available at www.carlsberggroup.com. Sustainability Report 2015 Selected highlights 4 Selected highlights 78% of our companies conducted responsible drinking RESPONSIBLE DRINKING campaigns We reached more than 1.5 million consumers with responsible drinking messaging during the RENEWABLE ENERGY first Global Beer Responsibility Day. We increased our use of renewable energy from 5% to 7%. SUSTAINABLE CROWDSOURCING ENERGY, WATER, CO2 We received 162 ideas Slight improvements VOLUNTEERING from 35 countries in Cheers in energy and CO2 to Green Ideas, our first and stable water crowdsourcing campaign performance.
    [Show full text]
  • ENERGY PORTAL Business Web Portal About Clean Energy
    ENERGY PORTAL business web portal about clean energy ENERGY MAGAZINE December 2016./No.5 RECYCLING, WASTE MANAGEMENT, WASTE WATER MANAGEMENT, WATER MANAGEMENT TABLE OF CONTENTS: WASTE MATERIALS OF ONE INDUSTRY 04 Will Become Raw Materials of Another IN THIS ISSUE THERE IS CONSTATLY FEWER WATER RESOURCES, BETTER 09 MANAGEMENT IS NECESSARY - N.Veljković LAT’s sTART WITH OURSELVES 12 K. Bravenc Bajna BašTA HAS ACHIVED RESULTS ABOVE EXPECTATIONS 14 L. Pivnevi THE LEGAL FRAME IS GOD, ENFORCEMENT IS BIGGER PROBLEM 16 S.Kamberovic IT IS DIFFICULT BUT WE SHOULD NOT MAKE COMPROMISES 18 A. Petrović- Vukićević 20 COLLECT, THROW, RECYCLE IN ARILJE EXPECTED INVESTMENTS 6 BILLION FOR WASTE WATER TREATMENT 22 J.Plavanski 2 www.energetskiportal.rs ENERGY MAGAZINE December 2016./No.5 IT IS DIFFICULT THroUGH THE But we Should not CooPERATION Make Compromises of Private and Public Sector 18 28 to Efficient Solutions 26 MIX PRESS THROUGH THE COOPERATION OF PRIVATE AND PUBLIC SECTOR TO 28 EFFICIENT SOLUTIONS - N.Čolić Mohora WE PRODUCE BIOGAS AND SAVE UP TO 140,000 EUROS PER YEAR 29 M.Mareš OUR EXPERIANCE IN SERBIA IS POSITIVE 30 A. Francois WE HAVE INVESTED OVER 95 MILLION EUROS THROUGH GREEN 32 LOANS - I. Smiljković 34 REGISTER OF COMPANIES 2 www.energetskiportal.rs www.energetskiportal.rs 3 ENERGY PORTAL December/ No.5 WASTE MATERIALS OF ONE INDUSTRY Will Become Raw Materials of Another he Chief of the Department for Waste Management at the Ministry of Agriculture and Environmental Protection is Ms Radmila Šerović who has been working in the state Tadministration since 2002. More precisely, she has been engaged in waste management in relevant ministries since 2007.
    [Show full text]