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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. President & CEO comparables with the positive EURO 2012 Ultimately, our sponsorships are, of course, 17 Key figures and financial ratios activities in the previous year. You can read about growing our business and driving 18 Income statement much more about our business results on the long-term sales of our great beer 19 Statement of financial position pages 14-19. brands. On page 8, we provide a bit more WE DELIVERED SOLID insight into our work with sponsorships. 20 Overview MARKET SHARE We have revised our expectations for the Russian beer market in 2013 from flat to I hope this edition of News will be interest- IMPROVEMENTS IN mid-single-digit percentage decline. Never- ing reading. EASTERN EUROPE AND theless, due to tight cost control measures, improved cost development in logistics and Cheers, ASIA WHILE OUR MARKET other supply chain areas, and the start to SHARE IN WESTERN Q3, we keep the full-year earnings outlook EUROPE WAS FLAT AS unchanged. COMPARABLES WERE The challenging market conditions under- DIFFICULT DUE TO LAST pin the importance of our continued efforts Jørgen Buhl Rasmussen to make our business more efficient. The YEAR’S EURO FOOTBALL. many initiatives in this area, as well as the initial results from the implementation of the integrated supply chain and business standardisation in Sweden, give us confi- dence that we are on the right track. The Carlsberg Group is one of the leading brewery groups in the world, with a large portfolio of beer and other I believe it is fair to say that the beer beverage brands. Our flagship brand – Carlsberg – is one of the best-known beer brands in the world and the industry historically has not been very Baltika, Carlsberg and Tuborg brands are among the eight biggest brands in Europe. More than 41,000 people proactive at innovating. At Carlsberg, work for the Carlsberg Group, and our products are sold in more than 150 markets. In 2012, the Carlsberg Group though, research, development and in- sold 120 million hectolitres of beer, which is about 36 billion bottles of beer. novation have always been part of who we are; and this goes all the way back to our founder, J. C. Jacobsen. In recent years, we have done a lot to become even better at utilising our research, development and innovation capabilities by becoming more NEWS is published quarterly by Carlsberg in Danish and English. In case of any discrepancy between the two versions, the Danish version shall apply. Circulation: 4,200 (incl. Danish circulation). Editorial staff: Anne-Marie Skov (responsible) and Iben Steiness. Layout and production: Liebling A/S. Carlsberg A/S, CVR No. 61056416, Ny Carlsberg Vej 100, DK-1799 Copenhagen V, Tel: +45 33 27 33 00, www.carlsberggroup.com. WorldReginfo - a00da095-b474-43bf-a8db-f2f5b26cb8fd 4 NEWS Q2 August 2013 5 Modular 20 – revolutionising draught beer Modular 20 is a unique draught beer system. It delivers improved draught beer quality and is easy to handle, which is an advantage for on-trade customers, such as bars and restaurants. Modular 20 INNOVATION – is based on the Group’s proprietary break-through DraughtMaster™ keg technology. This deploys one-way plastic kegs full of fizzy beer rather THE LEGACY AND than the aluminium beer kegs and CO2 cylinders needed for traditional draught beer. The technology also reduces the environmental impact of draught beer compared to traditional THE FUTURE steel kegs due to lower water consumption, lower CO2 emissions and less waste. The DraughtMaster™ technology was successfully piloted in Italy in 2011 and is now in use by 60,000 customers in 17 markets. RESEARCH, DEVELOPMENT, AND INNOVATION ARE CORE TO THE CARLSBERG She continues, “Innovation is the lifeblood The radler concept is a good example of LEGACY AND ARE STILL of many fast moving consumer goods this approach, which involves applying (FMCG) companies. Even though the new concepts and ideas to local brands. CONSIDERED VITAL IN beer industry generally tends to be more Julia Isdale explains: “The basic concept DRIVING BEER CATEGORY traditional, it’s increasingly important for of radler is mixing low-alcoholic beer with us to be innovative and bring ideas to the fruit juice to get a beer that is very light, GROWTH AND BUSINESS market to maintain consumer loyalty and refreshing and easy to drink. We have RESULTS. BY OFFERING attract new consumers.” rolled the radler concept out internatio- nally by launching radler variants of our CONSUMERS NEW EXPERI- Carlsberg’s innovation efforts are not only local brands. In effect, this means that ENCES, WE ENSURE THAT limited to developing the flavours inside radler is sold across many of our markets, OUR BRANDS REMAIN the bottles – in fact, it’s not even limited but under a different name and with to beer: different packaging and positioning. For RELEVANT AND THAT WE example in Croatia, we have utilised the Julia Isdale, head of the Carlsberg Group’s Innovation team MAINTAIN CONSUMER “We have a holistic approach to innova- local brand Pan to launch “Pan Radler”. In tion in the Carlsberg Group. Innovation Denmark, where Tuborg is a very popular LOYALTY AND ATTRACT means all kinds of new ideas and inventi- brand, we have launched radler under the NEW CONSUMERS. Most people probably wouldn’t connect To support this and to drive an ambitious ons, be it liquids, packaging, categories or name “Tuborg Sommer”. By using this ap- beer with research, development and and profitable innovation agenda, our technologies,” says Julia Isdale. proach, we can leverage the brands that innovation. But at Carlsberg, these are organisational structure integrates the are strong in each market to get the most core to our legacy, which goes all the research, development and innovation Three recent examples show the benefits value out of our radler innovation.” way back to the brewery’s founder, J.C. functions with sales and marketing, with of successful innovation. The new Tuborg Jacobsen. He built Carlsberg with a strong the combined function being headed up bottle, which you can read more about What’s next? focus on research and development, and by Senior Vice President Khalil Younes. on the following page, is an example of Innovation is a key component of the it was this focus as well as his extraordi- This pooling of capabilities brings the innovation in packaging that revitalised Carlsberg Group strategy. Focused efforts nary business acumen that lead to him different functions and teams together al- the Tuborg brand and helped boost sales within defined innovation platforms sup- becoming one of the leading brewers in lowing better opportunities for combining in many markets. Somersby, the cider ported by research and development are Europe of his time. commercial and technological knowledge, Radler – a repeatable concept brand first launched in 2008, became driving a continuous innovation pipeline. insights and developments. the world’s fastest growing international But Julia Isdale doesn’t want to be too Today, the Carlsberg Group continues to Radler is a refreshing low-alcohol drink in which cider brand in 2012 and is an example of specific: “We are very busy and have a beer is mixed with juice. It’s very popular in Europe see research, development and innova- Widening the scope of innovation category innovation. And an example of lot of ideas and concepts in the pipeline. and is known as radler in Germany, shandy in tion as vital in driving the growth of the Julia Isdale, head of the Carlsberg Group’s England, and clara in Spain. To date, Carlsberg has innovation in technology is Draught Ma- But since many of our plans are commer- beer category in general and to improv- Innovation team, explains why it is so launched the radler concept across nine markets. ster Modular 20, a break-through draught cially sensitive, it’s better not to reveal too ing business performance. Consequently, important for Carlsberg to continue its system that keeps draught beer fresh for much just now.” innovation is a key priority of the Group’s focus on innovation: The Lithuanian radler, Utenos Radler Lemon, a longer time.
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