Carlsberg A/S

CABHF

CABHFCarlsberg A/S US flag

Other OTC

121.00

USD

- -

7.19EPS

16.83P/E

15.33BMarket Cap

Aug 11Next Earn

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ISIN

DK0010181676

Return %

Stock

S&P500

-18.66

18.57

-18.66

40.07

9.87

86.07

Use logarithmic scale

	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	TTM
Revenue per Share	435.73	421.83	422.89	428.43	410.43	397.75	410.05	438.15	400.68	417.78	502.49	540.71	565.58	428.6
Basic EPS, GAAP	36.76	35.86	28.94	-19.18	29.41	8.26	34.83	43.67	41.27	47.59	-7.6	-299.72	68.73	-19.19
Free Cash Flow per Basic Share	64.67	53.26	48.42	65.94	61.02	77.6	78.97	81.34	44.71	58.22	63.87	54.11	47.37	65.97
Dividend per Share	5.5	6	8	9	9	10	16	18.2	21.17	22.16	24.24	27.15	27.15	- -
Book Value per Share	503.05	535.58	547.04	517.47	526.44	527.33	538.87	512.6	548.46	578.3	526.43	191.44	213.13	517.67
Tangible Book Value per Share	-115.15	-152.31	-173.15	-168.41	-151.33	-119.79	-124.51	-159.52	-155.36	-137.08	-103.7	-171.59	-164.18	-168.47
Basic Weighted Avg Shares	153	153	153	153	153	152	152	150	146	144	140	136	133	152
Sales/Revenue/Turnover	66,468	64,350	64,506	65,354	62,614	60,655	62,503	65,902	58,541	60,097	70,265	73,585	75,011	65,354
Operating Margin (%)	14.35	14.52	13.42	12.24	12.55	14.11	14.66	15.31	16.29	16.17	14.93	14.24	14.33	12.26
Depreciation Expense	4,545	3,863	4,103	4,674	4,742	4,581	4,091	4,542	4,386	4,238	4,187	4,074	4,370	4,674
Net Income, GAAP	5,607	5,471	4,414	-2,926	4,486	1,259	5,309	6,569	6,030	6,846	-1,063	-40,788	9,116	-2,926
Effective Tax Rate (%)	22.96	23.55	26.14	- -	33	41.39	28.01	26.9	24.7	20.62	17.85	18.91	19.85	132.82
Profit Margin (%)	8.44	8.5	6.84	-4.48	7.16	2.08	8.49	9.97	10.3	11.39	-1.51	-55.43	12.15	-4.48
Working Capital	-6,400	-15,255	-8,507	-12,683	-17,172	-9,814	-16,395	-15,363	-9,453	-20,191	-14,498	-17,032	-19,698	-12,683
LT Debt	36,706	30,239	38,690	31,479	21,137	23,340	16,750	20,879	29,291	22,755	22,865	30,763	27,392	31,479
Total Equity	73,650	71,001	55,997	47,231	53,650	49,525	47,889	46,033	43,362	48,756	34,722	25,749	30,612	47,231
Return on Invested Capital (%)	6.6	6.34	6.13	- -	6.24	6.29	8.95	10.19	9.8	10.04	12.07	13.17	12.81	11.42
Return on Capital (%)	5.68	5.37	4.14	- -	4.31	0.95	4.69	5.83	5.38	5.39	-1.51	-47.35	13.33	-54.95
Return on Common Equity (%)	7.41	6.91	5.35	-3.6	5.63	1.57	6.53	8.25	7.67	8.38	-1.36	-81.85	33.56	-3.6

Capital Structure

•

in mil. unless spec.

Working Capital

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in mil. unless spec.

Growth Rates

FRC

•

in mil. unless spec.

(avg. rate of change)	10 years	5 years	1 year
Sales/Revenue/Turnover	1.76%	3.01%	1.94%
Net Income, GAAP	335.84%	700.9%	-122.35%
Free Cash Flow	1.52%	-8.8%	-14.69%
Total Cash Common Dividend	- -	5.77%	-2.54%
Total Equity	-4.6%	-5.82%	18.89%

Growth Rates

•

in mil. unless spec.

Quarterly Revenue

•

in mil. unless spec.

Quarterly Earnings Per Share

•

in mil. unless spec.

Quarterly Dividends Per Share

•

in mil. unless spec.

Company Description

CEO: Mr. Cees C. ´t Hart
Full Time Employees: 31,000
Sector: Consumer Defensive
Industry: Beverages - Alcoholic
Address: 1 J. C. Jacobsens Gade Copenhagen Denmark 1799
IPO Date: Oct 29, 2009
Website: carlsberggroup.com
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Business: Carlsberg A/S produces and sells beer and other beverage products in Denmark. It offers core, and craft and specialty beers; and alcohol-free brews. The company provides its products primarily under the Carlsberg, Tuborg, Feldschlösschen, Baltika, Chongqing, 1664 Blanc, Grimbergen, Ringnes, and Somersby brand names. Carlsberg A/S also exports its products to approximately 100 countries worldwide. The company was founded in 1847 and is headquartered in Copenhagen, Denmark.

	Jun'15	Sep'15	Dec'15
Total Current Assets	22,225	19,201	17,076
Accounts Receivable, Net	- -	6,727	5,729
Cash, Cash Equivalents & STI	2,826	3,024	3,131
Inventories	14,104	4,391	3,817
Total Current Liabilities	31,081	27,737	29,759
Payables & Accruals	- -	- -	- -
ST Debt	2,078	1,481	4,549
Deferred Revenue	- -	- -	- -

	Jun'15	Sep'15	Dec'15
ST Debt	2,078	1,481	4,549
LT Borrowings	38,811	36,177	31,479
LT Finance Leases	- -	- -	- -
Preferred Equity and Hybrid Capital	- -	- -	- -
Shares Outstanding	153	153	153
Market Capitalization	22,387	22,348	22,993

	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	TTM
Revenue per Share	435.73	421.83	422.89	428.43	410.43	397.75	410.05	438.15	400.68	417.78	502.49	540.71	565.58	428.6
Basic EPS, GAAP	36.76	35.86	28.94	-19.18	29.41	8.26	34.83	43.67	41.27	47.59	-7.6	-299.72	68.73	-19.19
Free Cash Flow per Basic Share	64.67	53.26	48.42	65.94	61.02	77.6	78.97	81.34	44.71	58.22	63.87	54.11	47.37	65.97
Dividend per Share	5.5	6	8	9	9	10	16	18.2	21.17	22.16	24.24	27.15	27.15	- -
Book Value per Share	503.05	535.58	547.04	517.47	526.44	527.33	538.87	512.6	548.46	578.3	526.43	191.44	213.13	517.67
Tangible Book Value per Share	-115.15	-152.31	-173.15	-168.41	-151.33	-119.79	-124.51	-159.52	-155.36	-137.08	-103.7	-171.59	-164.18	-168.47
Basic Weighted Avg Shares	153	153	153	153	153	152	152	150	146	144	140	136	133	152
Sales/Revenue/Turnover	66,468	64,350	64,506	65,354	62,614	60,655	62,503	65,902	58,541	60,097	70,265	73,585	75,011	65,354
Operating Margin (%)	14.35	14.52	13.42	12.24	12.55	14.11	14.66	15.31	16.29	16.17	14.93	14.24	14.33	12.26
Depreciation Expense	4,545	3,863	4,103	4,674	4,742	4,581	4,091	4,542	4,386	4,238	4,187	4,074	4,370	4,674
Net Income, GAAP	5,607	5,471	4,414	-2,926	4,486	1,259	5,309	6,569	6,030	6,846	-1,063	-40,788	9,116	-2,926
Effective Tax Rate (%)	22.96	23.55	26.14	- -	33	41.39	28.01	26.9	24.7	20.62	17.85	18.91	19.85	132.82
Profit Margin (%)	8.44	8.5	6.84	-4.48	7.16	2.08	8.49	9.97	10.3	11.39	-1.51	-55.43	12.15	-4.48
Working Capital	-6,400	-15,255	-8,507	-12,683	-17,172	-9,814	-16,395	-15,363	-9,453	-20,191	-14,498	-17,032	-19,698	-12,683
LT Debt	36,706	30,239	38,690	31,479	21,137	23,340	16,750	20,879	29,291	22,755	22,865	30,763	27,392	31,479
Total Equity	73,650	71,001	55,997	47,231	53,650	49,525	47,889	46,033	43,362	48,756	34,722	25,749	30,612	47,231
Return on Invested Capital (%)	6.6	6.34	6.13	- -	6.24	6.29	8.95	10.19	9.8	10.04	12.07	13.17	12.81	11.42
Return on Capital (%)	5.68	5.37	4.14	- -	4.31	0.95	4.69	5.83	5.38	5.39	-1.51	-47.35	13.33	-54.95
Return on Common Equity (%)	7.41	6.91	5.35	-3.6	5.63	1.57	6.53	8.25	7.67	8.38	-1.36	-81.85	33.56	-3.6

Carlsberg A/S

Growth Rates

(avg. rate of change)

Company Description

Growth Rates

(avg. rate of change)

Working Capital

Capital Structure

Quarterly Earnings Per Share

Year

Quarterly Dividends Per Share

Year

Quarterly Revenue

Year

Year	Q1	Q2	Q3	Q4	FY
2022	- -	- -	- -	- -	-7.6
2023	- -	- -	- -	- -	-299.72
2024	- -	- -	- -	- -	68.73