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Last $15.04 USD
Change Today -0.155 / -1.02%
Volume 32.1K
CABGY On Other Exchanges
Symbol
Exchange
OTC US
Copenhagen
Copenhagen
Frankfurt
As of 3:59 PM 08/31/15 All times are local (Market data is delayed by at least 15 minutes).

carlsberg as-b-spon adr (CABGY) Key Developments

Carlsberg A/S Initiates Strategic Review

Carlsberg A/S (CPSE:CARL.B) has started a strategic review the outcome of which will be announced in the first half of 2016.

Carlsberg A/S Announces Unaudited Consolidated Earnings Results for the Second Quarter and First Half Ended June 30, 2015; Revises Earnings Guidance for the Full Year 2015

Carlsberg A/S announced unaudited consolidated earnings results for the second quarter and first half ended June 30, 2015. For the quarter, the company reported net revenue of DKK 18,931 million against DKK 19,162 million a year ago. Operating profit before special items was DKK 2,922 million against DKK 3,601 million a year ago. Profit before tax was DKK 2,433 million against DKK 3,138 million a year ago. Profit attributable to shareholders of the company was DKK 1,585 million against DKK 2,210 million a year ago. Profit per diluted share was DKK 10.4 against DKK 14.4 a year ago. Cash flow from operating activities was DKK 4,392 million against DKK 4,068 million a year ago. Acquisition of property, plant and equipment and intangible assets was DKK 920 million against DKK 1,410 million a year ago. Net interest-bearing debt was DKK 36,195 million against DKK 36,112 million a year ago. Cash flow from operating activities per share was DKK 28.8 against DKK 26.6 a year ago. Free cash flow DKK 3,638 million against DKK 2,737 million a year ago. For the six months, the company reported net revenue of DKK 32,402 million against DKK 32,058 million a year ago. Operating profit before special items was DKK 3,583 million against DKK 4,054 million a year ago. Profit before tax was DKK 2,530 million against DKK 3,216 million a year ago. Profit attributable to shareholders of the company was DKK 1,495 million against DKK 2,143 million a year ago. Profit per diluted share was DKK 9.8 against DKK 14.0 a year ago. Cash flow from operating activities was DKK 3,844 against DKK 2,872 million a year ago. Acquisition of property, plant and equipment and intangible assets was DKK 1,990 million against DKK 2,363 million a year ago. ROIC was 7.9% against 8.3% a year ago. Cash flow from operating activities per share was DKK 25.2 against DKK 18.8 a year ago. Net CapEx was DKK 1.7 billion, down DKK 483 million compared to the same period last year. Free cash flow DKK 2,218 million against DKK 641 million a year ago. The company has lowered its full-year earnings forecast after declining beer sales in Russia and Ukraine hurt second-quarter profits. The company, which had previously forecast single-digit growth in operating profit in 2015, now expects a slight decline, due to challenging market conditions in Eastern Europe and weaker-than-expected results in Western Europe. As part of the intensified focus on ROIC, capital expenditures will be approximately DKK 4 billion in 2015 (around index 90 to expected depreciation), a reduction of approximately 30% compared with 2014. The tax rate is expected to increase to approximately 28%, mainly because the Russian business, where the corporate tax rate is below Group average, will decline in importance.

Carlsberg Eastern Europe Announces Unaudited Earnings and Production Results for the Second Quarter and First Half Ended June 30, 2015

Carlsberg Eastern Europe announced unaudited earnings and production results for the second quarter and first half ended June 30, 2015. For the quarter, the company reported net revenue of DKK 3,821 million against DKK 4,992 million a year ago. Operating profit was DKK 985 million against DKK 1,518 million a year ago. EBITDA was DKK 1,237 million against DKK 1,838 million a year ago. For the six months, the company reported net revenue of DKK 5,556 million against DKK 7,476 million a year ago. Operating profit was DKK 830 million against DKK 1,510 million a year ago. Return on invested capital was 4.9% against 6.7% a year ago. EBITDA was DKK 1,312 million against DKK 2,158 million a year ago. Return on invested capital excl. goodwill 8.3% against 11.2% a year ago. For the quarter, the company reported total volume of 10.7 million hl against 13.3 million hl a year ago. For the six months, the company reported total volume of 16.9 million hl against 20.6 million hl a year ago.

Carlsberg Western Europe Announces Unaudited Earnings and Production Results for the Second Quarter and First Half Ended June 30, 2015

Carlsberg Western Europe announced unaudited earnings and production results for the second quarter and first half ended June 30, 2015. For the quarter, the company reported net revenue of DKK 10,709 million against DKK 10,945 million a year ago. Operating profit was DKK 1,530 million against DKK 1,871 million a year ago. EBITDA was DKK 1,948 million against DKK 2,282 million a year ago. For the six months, the company reported net revenue of DKK 18,872 million against DKK 18,585 million a year ago. Operating profit was DKK 2,155 million against DKK 2,311 million a year ago. Return on invested capital was 14.6% against 15.0% a year ago. EBITDA was DKK 2,975 million against DKK 3,139 million a year ago. For the quarter, the company reported total volume of 18.3 million hl against 19.1 million hl a year ago. For the six months, the company reported total volume of 32.3 million hl against 32.2 million hl a year ago.

Carlsberg A/S, Q2 2015 Earnings Call, Aug 19, 2015

Carlsberg A/S, Q2 2015 Earnings Call, Aug 19, 2015

 

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CABGY Competitors

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Asahi Group Holdings Ltd ¥4,003 JPY +80.00
Kesko OYJ €32.07 EUR -0.10
Molson Coors Brewing Co $68.09 USD +0.95
Pernod Ricard SA €93.52 EUR +0.69
Tsingtao Brewery Co Ltd CNY33.55 CNY -0.57
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Industry Analysis

CABGY

Industry Average

Valuation CABGY Industry Range
Price/Earnings 20.6x
Price/Sales 1.2x
Price/Book 1.4x
Price/Cash Flow 16.0x
TEV/Sales 0.2x
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