Debt reduced sooner than expected
- Net interest-bearing debt was reduced by DKK 5.6bn in Q2 and totalled DKK 23.4bn as at 30 June 2004. Holsten transaction was completed faster and more effectively than originally planned.
- High organic volume growth and a successful Carlsberg marketing campaign in connection with EURO 2004 in Portugal. Net revenue rose by 6% compared with first half-year 2003 measured in local currencies.
- Operating profit exclusive of property gains was at level with last year, despite DKK 250m increase in marketing expenses. When including property gains, operating profit rose by 23%.
- Carlsberg A/S' share of profit (before goodwill, etc.) was DKK 384m compared with DKK 363m in first half-year 2003 (+6%).
- Bad weather in Northern Europe continuing in July will adversely affect full-year operating profit (EBITA). Therefore, expectations to operating profit, inclusive of property gains, will not be revised upwards..
- Carlsberg A/S' share of profit (before goodwill, etc.) for 2004 is revised upwards and is expected to be at the level of DKK 1.5-1.6bn. (DKK 1,179m last year).
Read the entire announcement here ...
The H1 2004 presentation for analysts, etc. will be available from 10:00 CET am today
Mikael Bo Larsen, +45 33 27 1223
Margrethe Skov, +45 33 27 1410
Public Affairs Director