As a result of higher-than-expected third-quarter revenue and operating profit, the Carlsberg Group is adjusting its 2018 earnings expectations upwards. Good progress on our strategic priorities, strong execution of Funding the Journey and a warm summer in Western Europe are the main reasons behind the strong third-quarter performance. Consequently, we now expect:
• 10-11% organic operating profit growth (previously high-single-digit percentage growth).
A translation impact on operating profit of around DKK -500m (previously DKK -425m) is assumed, based on the spot rates as at 24 October.
Other relevant assumptions are:
Financial expenses, excluding currency losses or gains and fair value adjustments, are expected to be around DKK 800m (unchanged).
The effective tax rate is expected to be below 29% (unchanged).
Capital expenditures are expected to be DKK 4.0-4.5bn (previously around DKK 4.5bn).
As planned, the Q3 2018 Trading Statement will be published on 1 November at 7.00 am (CET).
Contacts:
Investor Relations:
Peter Kondrup +45 2219 1221
Iben Steiness +45 3327 1232
Media Relations:
Kasper Elbjørn +45 4179 1216
Anders Bering +45 4179 1217
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