Report and Accounts 1999 / 2000 - Carlsberg Group

Highlights and Key Figures, 5-year summary
7
1995/96 1996/97 1997/98 1998/99 1999/2000 2000
(15 months) (12 months) 1)
Investments
Investments in production plant, etc. 1,513 1,042 1,287 2,024 2,770
Acquisition of companies - 190 1,373 621 4,462
Depreciation 834 877 1,305 1,354 2,153
Key figures
Net profit ratio 3) 9.0% 8.4% 7.0% 6.9% 8.4% 8.1%
Return on investment 4) 10.0% 8.1% 8.2% 7.3% 8.3% 7.4%
Return on equity 5) 13.1% 13.1% 16.5% 10.2% 15.8% 15.3%
Solvency ratio 6) 41.5% 41.2% 35.2% 39.7% 30.4% 30.4%
Gearing 7) -11.7% -3.2% 15.5% 36.1% 97.0% 97.0%
Stock market ratios
Number of shares 63,906 63,906 63,906 63,906 63,906
Earnings per share of DKK 20 8) 16.6 19.4 25.7 18.2 26.7 25.8
Cash flow per share 9) 37.5 36.4 36.9 28.5 40.4
Book value per share 131.5 150.9 151.0 162.6 140.5
Year-end market quotation (B-shares) 353.0 374.0 400.0 257.0 468.0
Dividend per share 3.4 3.6 4.0 4.0 5.4
Payout ratio 10) 19% 18% 15% 22% 20%
Price/Earnings 11) 21.2 19.2 15.6 14.1 17.5
Employees
Number of employees 12) 18,519 18,081 20,589 21,906 23,641
1) Unaudited comparable figures adapted to the calendar year 2000 and
adjusted for the effects of the change in the basis of the accounts
2) Sales of Carlsberg and Tuborg beer, including brewed under licence
and other beer brandsbrewed by breweries of the Carlsberg Group and
its associated companies
3) Operating profit as per cent of net turnover
4) Operating profit as per cent of average operating assets
5) Group profit as per cent of average equity
6) Equity at year-end as per cent of total liabilities
7) Interest-bearing net liabilities as per cent of equity
8) Carlsberg A/S’ share of profit for the year per DKK 20 share
9) Cash flow from operations divided on average number of shares
10) Dividend paid divided by Carlsberg A/S’ share of the profit
11) Market price per share divided by earnings per share
12) Including all employees in pro rata consolidated companies