DOCSLIB.ORG

Annual Report 2013 Management Financial Review Statements

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read 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. Any such statements change. The Group assumes no obligation to and exchange rates), financial and regulatory acceptance of new products, changes in con- or combination of factors, may cause results guidance with respect to the Group’s future are subject to risks and uncertainties that update any such forward-looking statements developments, demand for the Group’s prod- sumer preferences, launches of rival products, to differ materially from those contained in operating results. Forward-looking statements could cause the Group’s actual results to to reflect actual results, changes in assump- ucts, increasing industry consolidation, com- stipulation of market value in the opening any forward-looking statement. Accordingly, include, without limitation, any statement that differ materially from the results discussed tions or changes in other factors affecting such petition from other breweries, the availability balance sheet of acquired entities, litigation, forward-looking statements should not be may predict, forecast, indicate or imply future in such forward-looking statements. Prospect- forward-looking statements. Some important and pricing of raw materials and packaging environmental issues and other unforeseen relied on as a prediction of actual results. results, performance or achievements, and ive information is based on management’s risk factors that could cause the Group’s materials, cost of energy, production- and factors. New risk factors can arise, and it may Editor Carlsberg Group Corporate Affairs Design and production Kontrapunkt Photos Nana Reimers Proofreading Borella projects Carlsberg Group Annual Report 2013 Management review CONTENTS 2 We are the fourth largest global brewer with leading Our longer-term financial positions in Western Europe, Eastern Europe and Asia. ambition is to deliver an average growth in adjusted Who we are earnings per share of more 75% 31% 500 than 10% p.a. 75% of our beer volumes 31% of volumes and We have 500 Adjusted EPS1 are sold in markets 45% of operating brands in our (DKK) where we have a number profit are generated global port folio 40 1 or 2 position. in developed markets. – a powerful combina tion 38 of local power 36 brands and 34 international 1 Adjusted for premium brands. 32 special items after tax. 30 2011 2012 2013 We drive organic revenue and earnings Carlsberg is our flagship brand Beer volumes growth by Western and one of the best-known beer Europe Eastern • Improving market shares and increasing net revenue per brands in the world. Europe hl through the roll-out of international premium brands Asia and innovations, accelerated portfolio optimisation and improved commercial execution. • Driving a focused efficiency agenda, including back- Our winning portfolio of high- end centralisation and standardisation of key processes across the value chain. quality beer brands includes our • Capturing emerging markets growth. international premium and Operating profit brands. local power Western Europe We target strong cash flow generation and Eastern increased return on capital employed by Europe We drive top-line growth through Asia • Growing operating profit. scalable and consumer-relevant • Improving operational and financial efficiency. • Improving working capital management. innovations. • Improving fixed asset utilisation. Carlsberg Group Annual Report 2013 Management review THE GroUP at A glance 3 Financial highlights Operational highlights • The Group delivered strong perform- ance and achieved market share 2013 results 119.7 66.6bn 2% growth in all three regions driven by focused commercial execution and Pro rata beer volume Organic net revenue Solid price/mix a number of successful innovations. of 119.7m hl. growth of 1%. of 2%. • Our Asian markets continued to grow In 2013, we delivered solid earnings growth while our Western European markets despite challenging and uncertain market declined by an estimated 2%. The conditions and we achieved market share Russian market declined by an esti- 9.8bn 3.0bn 5% mated 8% due to outlet restrictions growth in all three regions. and slower economic growth. Organic operating Free operating cash Adjusted net profit profit growth of 5%. flow of DKK 3.0bn. growth of 5%. • Tuborg grew 10% and was the fastest growing international premium beer brand in China and the largest pre- mium brand in India. EXPECTATIONS AND RESULTS 2013 Operating profit before special items Carlsberg’s share of adjusted net profit1 • The Carlsberg brand grew 6% in the 18.02.2013 Actual (Financial Statements for 2012) DKK 9,793m DKK 5,504m second half of 2013 in premium markets 18.02.2013 Financial Statements for 2012 Around DKK 10bn Mid-single-digit percentage increase (declined 2% for the full year, cycling 19.02.2014 Actual (Financial Statements for 2013) DKK 9,844m 5% (DKK 5,795m) last year’s EURO 2012 activations). 1 Reported net profit adjusted for special items after tax. • Our international cider brand, Somersby, grew 78%. MAIN ASSUMPTIONS UNDERLYING 2013 EARNINGS EXPECTATIONS February 2013 Actual • We kept a high level of investments Beer market dynamics for all three regions to be similar to 2012. Russian beer market development was worse than anticipated, across markets and functions to declining 8% (assumption adjusted during 2013). capture the short- and longer-term Beer volumes to be impacted by destocking in France and Russia in Q1 and stock Beer volumes were impacted as anticipated. earnings growth opportunities. building in Russia in Q4 ahead of the RUB 3 excise tax increase in January 2014. Reported cost of goods sold per hl expected to be flat. Reported cost of goods sold per hl declined slightly. • We strengthened our presence in Sales and marketing investments to revenue expected to be at the level of 2012. Sales and marketing investments to revenue were at the level of 2012. Asia, including increased ownership Costs of rolling out the integrated supply chain and business standardisation BSP1-related costs were DKK 350m. of Chongqing Brewery Group and project (BSP1) in Western Europe to impact Group profits by DKK 300-400m. construction of breweries. Average all-in cost of debt to decline by some 50-75bp. Average all-in cost of debt declined approximately 100bp. Tax rate expected to be 24-25%. Tax rate was 24.1%. • We established the Carlsberg Circular Capital expenditures expected to remain at the level of 2012. Capital expenditures were DKK 5.8bn (DKK 5.1bn in 2012) Community to rethink and redevelop (assumption updated in November). packaging with the aim of reducing Outlook based on an average EUR/RUB exchange rate of 42. Average EUR/RUB exchange rate was 42.2. the impact on the environment. Carlsberg Group Annual Report 2013 Management review THE GroUP at A glance 4 28.3m Our regions hl pro rata beer volume 1.9bn DKK – Asia operating profit WESTERN EUROPE ASIA Carlsberg is the second largest Carlsberg’s Asian portfolio of brewer in Western Europe. The businesses consists of mature region mainly comprises mature markets such as Malaysia, Hong markets mostly characterised by Kong and Singapore as well as well-established retail structures investments in growing beer and a strong tradition of beer markets such as China, India consumption. Beer consumption is and Vietnam. These markets generally flat or slightly declining. 42.4m offer considerable prospects for However, the uncertain macro- growth, underpinned by expand- environment of recent years has hl pro rata beer volume ing populations, rising disposable had a slightly negative impact on income levels, growing economies consumption and has also led to and relatively low per capita beer consumers shifting from on-trade consumption. The competitive in- to off-trade consumption.
Load more

Recommended publications
  • 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]
  • 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]
  • 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]
  • 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]
  • Fic Guide 2008 Impressum
    GUIDE Foreign Investors Council October 2008 FIC GUIDE 2008 IMPRESSUM Managing Director Ana Isaković CONTENTS [email protected] Editor in Chief 70 PANAGIOTIS VLASIADIS Tatjana Ostojić Member of the FIC Board of [email protected] Directors, President of the Executive Associate Editor Board of Alpha Bank Mark Pullen 74 DRAGINJA ĐURIĆ Art Director Zlatko Jovanović President of the Banca Intesa [email protected] Executive Board 10 STEIN-ERIK VELLAN Design Assistant 78 ALEXANDER SPERL Tatjana Radojičić FIC President, Telenor CEO CEO of Vip Mobile Editorial contributors 14 THE WHITE BOOK 80 MILAN SAMARDŽIĆ Kristen Dara Kaefer, Ana Stojanović, 15 FOREIGN INVESTMENTS - SIEPA Head of the FIC Legal Committee, Marica Vuković 34 JASNA MATIĆ Partner at Specht Law Office Photo Minister of Telecommunications Marko Rupena, Časlav Vukojičić, 82 IVAN RAKIĆ Stanislav Milojković and Information Society Head of the FIC Taxation Translators 38 MILUTIN MRKONJIĆ Committee, Head of Ernst & Young Snežana Krstić Serbian Minister for Infrastructure Tax Services Executive Director 42 SLOBODAN MILOSAVLJEVIĆ 84 MILOŠ MIRIĆ Sanja Zimonjić [email protected] Minister of Trade in the Serbian Head of the FIC HR Committee, Government Sales Executive Administration Manager of Holcim Marija Urošević, [email protected], 46 SURVEY Srbija’s Petrus Project Marija Savić, [email protected], The PricewaterhouseCoopers EM20 Slobodan Savić, [email protected] Index Editorial Manager 56 LUIZ AUGUSTO HEEREN Tanja Banković [email protected] Member of the FIC Board Directors, Subscription General
    [Show full text]
  • Glassmaking Trends in Malaysia
    Focus ASEAN Glassmaking trends in Malaysia Malaysia has emerged as an important player for flat glass manufacture in recent times, the arrival of leading Chinese producers contributing to the nation becoming one of the region’s leading players. In comparison, glass container production/demand has failed to grow in parallel, as Sunder Singh explains. With a population of nearly 32 million Three producers in each of in 2018, Malaysia is the smallest the two major segments cater for among four major South East Asian Malaysian flat and container glass countries. It has the highest per capita demand. In recent years, Chinese income of the four, however. The glass producers have invested heavily country’s flat and hollow glass industry in the country’s flat and downstream has benefited from steady economic glass processing activities. growth, averaging above 5% for the Addressing the Malaysian media past five years, leading to higher per recently, Ms Woo Wan Zheng, capita income and reducing already President of the Malaysia Glass low poverty levels. Association said: “The glass industry Malaysia also has some of the needs to push for new technology to best ingredients for the development improve glass (product mix) quality. of flat and container glass production The industry is doing well, with a lot in the future. The country has a young of players in the market providing population with 17% in the 15-24 year healthy competition. It keeps all age group and 41% in the 25-54 age players on their toes and may help band. About half of the population them to innovate their products.The is in the middle to high income second thing we would have to note Flat glass industry group, with growing purchasing (to improve the industry) would be to The Malaysian flat glass industry has witnessed one of the power.
    [Show full text]
  • 0 Planning Report for Twin Cities
    Municipal Report Twin Cities - BAČKA PALANKA (Serbia) and ILOK (Croatia) Project is co-funded by the European Union funds (ERDF an IPA II) www.interreg-danube.eu/danurb Municipal Report BAČKA PALANKA (Serbia) Prepared by: Prof. dr Darko Reba, full professor Prof. dr Milica Kostreš, associate professor Prof. dr Milena Krklješ, associate professor Doc. dr Mirjana Sladić, assistant professor Doc. dr Marina Carević Tomić, assistant professor Ranka Medenica, teaching assistant Aleksandra Milinković, teaching assistant Dijana Brkljač, teaching assistant Stefan Škorić, teaching assistant Isidora Kisin, teaching associate Dr Vladimir Dragičević, urban planner DANUrB | Bačka Palanka | Municipal Report 2 CONTENTS 1 HISTORY AND DEVELOPMENT 1.1 Bačka Palanka (Serbia) 2 SPACE 2.1 Location and its connection to the Danube 2.2 Bačka Palanka municipality – spatial and socio-economic characteristics 2.3 Accessibility 2.4 Urban structure and land use 2.5 Development potentials 2.6 Mapping and spatial demarcation of data 2.7 Conclusions 3 CULTURAL HERITAGE 3.1 Tangible heritage 3.2 Intangible heritage 3.3 Identifying possibilities for heritage use in regional development 4 TOURISM 4.1 Tourism infrastructure and attractiveness 4.2 Possibilities for touristic network cooperation 5 STAKEHOLDERS’ ANALYSES 5.1 Recognition of stakeholders’ interests 5.2 Possibilities for involvement of stakeholders in DANUrB project 6 DEVELOPMENT POTENTIALS 6.1 National/regional development plans 6.2 Regulatory plans 6.3 Possibilities for joint development plans 7 CONCLUSION DANUrB | Bačka Palanka | Municipal Report 3 1 HISTORY AND DEVELOPMENT 1.1 Bačka Palanka (Serbia) Settlement of Bačka Palanka, under this name and with current occupied area, is mentioned fairly late in history.
    [Show full text]
  • Sustainability Report 2018 Contents Carlsberg Group Sustainability Report 2018 2
    SUSTAINABILITY REPORT 2018 CONTENTS CARLSBERG GROUP SUSTAINABILITY REPORT 2018 2 INTRODUCTION METHODOLOGY, SCOPE AND ASSURANCE ABOUT THE CARLSBERG GROUP CEO foreword ......................................................... 3 This report covers the relevant and significant Sustainable business ............................................ 5 social, ethical and environmental issues for the Together Towards ZERO.................................... 6 financial year 1 January to 31 December 2018. It gives our stakeholders an overview of our performance in these areas, complementing our OUR AMBITIONS Annual Report, which primarily covers our financial and economic performance. ZERO CARBON FOOTPRINT ....................................................... 9 The first section presents our strategy, along with details of Together Towards ZERO, our global ZERO WATER sustainability programme. The second section WASTE ............................................................. 16 describes our performance against our four Together Towards ZERO ambitions, while ZERO IRRESPONSIBLE presenting selected case stories from across the DRINKING ........................................................ 20 Group. The third section provides supplementary information under the headings: Responsible ZERO ACCIDENTS business, Economic contribution to society, and CULTURE ......................................................... 26 Data and assurance. This report also serves as our annual SUPPLEMENTARY communication on progress to the UN Global Compact and as the
    [Show full text]
  • 2020 Sustainability Report
    SUSTAINABILITY ENVIRONMENT, SOCIAL & GOVERNANCE REPORT 2020 DISCLOSURES CARLSBERG GROUP SUSTAINABILITY REPORT 2020 2 INTRODUCTION Welcome to the INTRODUCTION ......................................... 3 FIND OUT MORE Carlsberg Group’s SUSTAINABILITY REPORT TOGETHER TOWARDS ZERO ................. 9 + SUMMARY Sustainability This full Sustainability Report provides ZERO detailed information on our strategy, Report for 2020 CARBON governance, partnerships and FOOTPRINT ...................................... 10 performance. The Summary includes extracts from this report to provide an ZERO overview of our approach and progress. Here we present an update on WATER progress on our Together Towards WASTE ............................................... 20 ZERO programme as we work with ZERO our people and partners to achieve IRRESPONSIBLE Annual Report ZERO carbon footprint, ZERO water DRINKING ......................................... 27 Our Annual Report focuses on our waste, ZERO irresponsible drinking and financial performance. It includes ZERO information on sustainability that is a ZERO accidents culture. We explain ACCIDENTS most pertinent to investors. CULTURE .......................................... 35 how we do business responsibly to support these goals and our business strategy. And we provide information RESPONSIBLE BUSINESS ...................... 41 on sustainability governance. GOVERNANCE AND TRANSPARENCY ..................................... 51 Website Carlsberggroup.com hosts our reports and policies, as well as showcasing stories
    [Show full text]
  • 09Carlsberg A/S Annual Report
    CARLSBERG A/S 09 ANNUAL REPORT The Carlsberg Group is one of the leading brewery groups in the world, with a large portfolio of beer and other beverage brands. The flagship brand – Carlsberg – is one of the best-known beer brands in the world. More than 43,000 people work for the Carlsberg Group, and our products are sold in more than 150 markets. MANAGEMENT REVIEW 2 CEO statement 5 Five-year summary 02 6 Earnings expectations 8 Executive Committee 12 Our beer markets 14 Market overview 16 Beer portfolio 18 Group strategy 20 People agenda 22 Corporate social responsibility 26 Events in 2009 30 Northern & Western Europe 34 Eastern Europe 38 Asia 42 Financial review 46 Corporate governance and risk management 52 Shareholder information FINANCIAL STATEMENTS 58 Carlsberg Group 126 Parent Company Carlsberg A/S 58 154 Management statement 155 Auditors’ report 156 Supervisory Board 2 Management review CEO statement STRONG PROFIT 2009 was a challeng- GROWTH ing year for Carlsberg and the global brewing industry. The global economy affected consumer behaviour negatively and overall beer market volumes declined. While the Asian markets were less affected by the crisis, the Northern & Western European and, in particular, the Eastern European markets were materially impacted. Although consumers reduced their consumption, they remained loyal to their favour- ite brands leading to a positive price/mix across many markets. This occurred despite the negative channel mix from on-trade to off-trade. Carlsberg was well prepared entering 2009. In late 2008 and early 2009 the Group implemented and accelerated numerous efficiency improvement ini- tiatives to protect earnings and improve cash flow and as a result was able to mitigate the impact from the declining markets.
    [Show full text]
  • CARLSBERG BREWERY AR2019.Part A.Pdf
    ANNUAL REPORT 2019 TABLE OF 06 2019 MILESTONES CONTENTS 02 Carlsberg Malaysia Group at a Glance 04 Our Winning Portfolio of Brands 06 2019 Milestones 08 2019 Brand Highlights 28 Chairman’s Address 32 Managing Director’s Message and MANAGING DIRECTOR’S Management Discussion & Analysis 32 MESSAGE AND MANAGEMENT 46 Sustainability Statement DISCUSSION & ANALYSIS 72 Management Team COVER RATIONALE 74 Profile of Management Team FINANCIAL 76 Profile of the Directors 104 STATEMENTS Carlsberg’s founder J.C. Jacobsen set forth 80 Corporate Governance Overview Statement a visionary ambition in his Golden Words, advocating a “constant pursuit of better beer”. 96 Statement on Risk Management & Internal Control More than 150 years after, we continue to 100 Audit & Risk Management pursue perfection every day in our products, Committee Report people and performance. We Brew for a 103 Responsibility Statement by the Board Better Today & Tomorrow, not settling for of Directors immediate gain when we can create a better tomorrow for all of us. 104 Financial Statements 201 Carlsberg Malaysia’s Sales Offices In 2019, we built upon positive momentum for revenue, net profit, and earnings per 202 Particulars of Group Properties 2019 BRAND share to create satisfactory shareholder 203 Analysis of Shareholdings 08 HIGHLIGHTS value. We clinched six major accolades in the 205 Material Contracts year, a testament to our efforts in running a sustainable business. 206 List of Recurrent Related Party Transactions Corporate Information Just like our flagship Carlsberg brand, we “Just Keep Getting Better”! CHAIRMAN’S SUSTAINABILITY The cover of this report is printed on 28 ADDRESS 46 STATEMENT environmentally friendly paper.
    [Show full text]