Sales volume (mil. hl) % to InBev
1 InBev 271 100.00%
2 SABMiller 239 88.19%
3 Anheuser-Busch 128.4 47.38%
4 Heineken 119.8 44.21%
5 Carlsberg 115.2 42.51%
Largest breweries
The Global Beer Industry in 2007
Carlsberg A/S’ Financial Figures
2003 2004 2005 2006 2007
Sales volume (million hl)
Beer 81.4 92 101.6 100.7 115.2
Soft drinks 21.2 19.4 19.1 20.2 20.8
Profit and loss account (kr million)
Net revenue 34,626 36,284 38,047 41,083 44,750
Profit before taxation 2,688 1,651 1,892 3,029 3,634
Profit for the year 1,719 1,269 1,371 2,171 2,596
Balance sheet total 46,712 57,698 62,359 58,451 61,220
Equity 11,276 15,084 17,968 17,597 18,621
Net interest-bearing debt
8,929 21,733 20,753 19,229 19,726
Key ratios
Operating margin, % 10.3 9.4 9.2 9.8 11.8
ROIC, % 12.4 8.1 7.8 9.2 11.7
Equity ratio, % 38.3 29.1 31.3 32.5 32.6
Debt/equity (financial gearing), X
0.5 1.29 1.06 1.01 0.99
Employees 31,531 31,703 30,208 31,680 33,420
Carlsberg A/S Global Markets, 2007
Operating Profit
(kr mil.)
Operating
Margin (%)
Western Europe 27,944 2.738 10
Eastern Europe (BBH) 10,435 2.338 22.4
Eastern Europe (excl.
BBH)
4,267 477 11.2
Asia 2,535 330 13
Carlsberg A/S’ Competitors
InBev
North America 4.6
Latin America North 37.3
Latin America South 11.3
Western Europe 13.3
Central and Eastern Europe 18.2
Asia Pacific 13.4
Global Export and Holding Companies 1.9
Anheuser-Busch
United States 81.3
International 18.7
Heineken
Western Europe 30.4
Central and Eastern Europe 10.5
Americas 36.8
Africa and the Middle East 6.5
Asia Pacific 15.8
SABMiller
Latin America 25
Europe 20
North America 10
Africa and Asia 12
South Africa 33
Worldwide beer volume 2007, %
Worldwide beer volume 2007, %
Worldwide beer volume 2007, %
Worldwide beer volume 2007, %