Financial statement as at 31 March 2012

Carlsberg A/S 

09.05.2012 07:00
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First quarter in line with expectations

Financial highlights

  -- Organic beer volume growth of 2% adjusted for Russian destocking.
  -- Solid growth in Northern & Western Europe and strong performance in
     Asia.
  -- Net revenue of DKK 12.9bn with flat organic development due to Russian
     destocking.
  -- Organic operating profit growth in Northern & Western Europe and Asia.
  -- Operating profit of DKK 574m impacted by lower Russian volumes/destocking
     and phasing of sales and marketing investments.
  -- 2012 outlook maintained.

Operational highlights

  -- Market share improvements in Northern & Western Europe and Asia.
  -- Russian market share (37.0%) improved slightly versus Q4 in flat market.
  -- 6% Carlsberg brand growth in premium markets; substantial activations ahead
     of EURO 2012.
  -- As part of the ongoing global rejuvenation of Tuborg brand, Tuborg enters
     Chinese market.
  -- Baltika Breweries filed application for delisting from the Russian stock
     exchange.
  -- Consortium established to develop the Valby site, Copenhagen.

Commenting on the results, CEO Jørgen Buhl Rasmussen says: 'In the
traditionally small first quarter of the year, the Group delivered continued
solid growth and performance in Northern & Western Europe and Asia, while
destocking impacted our Russian results as expected. Our Q1 results were in
line with our plans and we are on track to meet our 2012 expectations.' 

Jørgen Buhl Rasmussen continues: '2012 is a year where focus, prioritisation
and efficiency are key in everything we do. We are focusing our commercial
activities behind our most important brands and events. We are putting
significant resources behind the EURO 2012 sponsorship, which will be a key
driver behind the support of the repositioning and the growth of the Carlsberg
brand in 2012. In addition, the rejuvenation of the Tuborg brand will support
the brand growth through improved performance in existing markets, as well as
through introductions into new growth markets such as China.' 

Read the full announcement on attachment or on www.carlsberggroup.com.

Contacts                                                                        
Investor Relations:              Peter Kondrup              +45 3327 1221       
Media Relations:                  Jens Bekke       +45 3327 1412       Ben      
 Morton        +45 3327 1417
News Source: NASDAQ OMX



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Language:     English
Company:      Carlsberg A/S
              
               
              Denmark
Phone:        
Fax:          
E-mail:       
Internet:     
ISIN:         DK0010181759
WKN:          
 
End of Announcement                             DGAP News-Service
 
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