Full Year 2024 Carlsberg A/S Earnings Call Transcript

Feb 06, 2025 / 08:30AM GMT

Release Date Price: kr781.8 (+6.51%)

Transcript

Key Points

Positve

Carlsberg AS (CABGY) launched the Accelerate SAIL strategy, aiming for a 4% to 6% CAGR in long-term top-line growth.
The company completed a significant acquisition of Britvic for GBP3.3 billion, enhancing its position in the soft drinks market.
Carlsberg AS (CABGY) returned $5.6 billion to shareholders, demonstrating strong shareholder value commitment.
The company achieved a gross margin improvement and increased operating margin despite higher commercial investments.
Carlsberg AS (CABGY) successfully negotiated full ownership of its businesses in India and Nepal, offering attractive growth opportunities.

Negative

The company faced volume declines in key markets such as Western Europe and Asia, impacting overall growth.
Carlsberg AS (CABGY) experienced market share losses in France due to price increases ahead of the market.
The acquisition of Britvic increased the company's leverage to a pro forma 3.4 times net interest-bearing debt to EBITDA.
The company anticipates a negative impact of 2 to 3 percentage points on organic operating profit growth due to the loss of the San Miguel brand in the UK.
Carlsberg AS (CABGY) is dealing with hyperinflation accounting in Laos, impacting financial reporting and ROIC.

Operator

Ladies and gentlemen, welcome to the Carlsberg A/S full year 2024 financial statement conference call. I am Yusuf, the conference call operator. (Operator Instructions) At this time, it's my pleasure to hand over to Jacob Aarup-Andersen, CEO. Please go ahead.

Jacob Aarup;Andersen;S;Group Chief Executive Officer

Carlsberg A;Member of the Executive Committee

/- -

Thank you, operator, and good morning, everybody, and welcome to Carlsberg's full year 2024 conference call. As said, my name is Jacob Aarup-Andersen, and I have with me our CFO, Ulrica Fearn and Vice President, Investor Relations, Peter Kondrup. 2024 was an eventful year where we took significant steps to build a stronger business for the future. So let me summarize the key headlines for 2024 as we had started here.

First of all, we launched Accelerate SAIL, a refreshed and more ambitious strategy. We announced major structural changes that will shape the future of the Group. We delivered continued solid profit development and cash flow,

Already have an account? Log in

Get the full story

Subscribe Now

	Access to All Earning Calls and Stock Analysis
	30-Year Financial on one screen
	All-in-one Stock Screener with unlimited filters
	Customizable Stock Dashboard
	Real Time Insider Trading Transactions
	8,000+ Institutional investors’ 13F holdings
	Powerful Excel Add-in and Google sheets Add-on
	All data downloadable
	Quick customer support
	And much more...

7-Day Free Trial · Cancel Anytime

Subscription fee may be tax deductible.

Excellent

4.6 out of 5

Trustpilot

Research Tools

All-In-One Screener Stock Ideas Stock List Guru List Guru Real-Time Picks Insider List Insider Trades Economic Indicators Sector & Industry Performance DCF Calculator Calculators Discussion Board

Product

Pricing Plans Excel Add-In Google Sheets Add-on Data API Stock Comparison Table Manual of Stocks Instant Alerts Mobile App Newsletters Signup 中文

Education

Financial Glossary Tutorials FAQ Buffett Indicator Shiller P/E Yield Curve Today U.S. Inflation Rate Global Market Valuation Fed Net Liquidity Buffett Assets Allocation

Company

About GuruFocus Career Contact Us Advertise Term of Use Privacy Policy Referral Program Partner Program

Survey

We'd love to learn more about your experiences on GuruFocus.com and how we can improve!

Take Survey

Disclaimers

GuruFocus.com is not operated by a broker or a dealer. Under no circumstances does any information posted on GuruFocus.com represent a recommendation to buy or sell a security. The information on this site, and in its related newsletters, is not intended to be, nor does it constitute investment advice or recommendations. The individuals or entities selected as "gurus" may buy and sell securities before and after any particular article and report and information herein is published, with respect to the securities discussed in any article and report posted herein. Gurus may be added or dropped from the GuruFocus site at any time. In no event shall GuruFocus.com be liable to any member, guest or third party for any damages of any kind arising out of the use of any content or other material published or available on GuruFocus.com, or relating to the use of, or inability to use, GuruFocus.com or any content, including, without limitation, any investment losses, lost profits, lost opportunity, special, incidental, indirect, consequential or punitive damages. Past performance is a poor indicator of future performance. The information on this site, and in its related newsletters, is not intended to be, nor does it constitute investment advice or recommendations. The information on this site is in no way guaranteed for completeness, accuracy or in any other way. The gurus listed in this website are not affiliated with GuruFocus.com, LLC. Stock quotes are provided by QuoteMedia, Inc. (CSI). Company fundamental data is provided by Morningstar. Analyst estimates data is sourced from both Refinitiv and Morningstar, with priority given to Refinitiv data. Data is updated daily.