Report and Accounts 1999 / 2000 - Carlsberg Group

8
Report for 1999/2000
Report for 1999/2000
Basis of comparison
At the Extraordinary General Meeting on 30
August 2000, it was decided to change the
financial year to follow the calendar year. This was
done by extending the financial year 1999/00 by
three months until 31 December 2000.
Consequently, the accounts and the financial
review cover the accounting period from 1 October
1999 until 31 December 2000 (15 months).
Carlsberg has increased its shareholdings in
the companies in Malaysia and Poland, achieving
the controlling interest, and these companies are
now fully consolidated. Previously, the companies
were associated and included on a pro rata basis
and one-line consolidated, respectively. A few
Group companies which, for practical reasons,
were previously included with a certain time lag
are now included up until 31 December 2000. The
changes in the basis of the accounts entail that
operating profit is DKK 276 million higher than
would otherwise have been the case.
To create a basis for comparison with previous
years, figures covering 12 months are stated in
brackets throughout the review when deemed expedient,
corresponding to the calendar year 2000
adjusted for the effects of the changes made in
the basis of the accounts.
Turnover
An increase in turnover was realised. When
adjusted for the extended period and the changes
in the basis of the accounts, the increase amounted
to DKK 1.5 billion (+6%). The increase is
particularly attributable to the CCNB companies
and the acquisition of companies through the
subsidiary Carlsberg Italia S.p.A. Furthermore,
Sinebrychoff, Finland and Falcon, Sweden also
achieved a positive trend in turnover. As expected,
turnover in the United Kingdom showed a declining
trend.
Operating profit
After depreciation, operating profit totalled DKK
2,934 million (DKK 2,087 million) against DKK
1,673 million last year, corresponding to a comparable
increase of 25%. Depreciation amounted to
DKK 2,153 million (DKK 1,692 million) against
DKK 1,354 million last year.
The results met with the expectations expressed
in the Financial Statement of 30 September
2000.
Special items
As in previous years, this item includes significant
non-recurring amounts, which are not directly
attributable to the normal running of the company.
Special items amounted to DKK 428 million,
against DKK 79 million last year.
This item primarily comprises a net profit of
DKK 354 million from the sale of the shares in
Grupo Cruzcampo and profit from the sale of the
shares in Tivoli, amounting to DKK 182 million.
Furthermore, the company Ejendomsaktieselskabet
matr. nr. 43 ei Avedøre by was sold at a
profit of DKK 41 million. The item also covers adjustments
in provisions, totalling DKK 312 million.
SALES OF BEER, TOTAL
(MILLION HECTOLITRES) 12 months
SALES OF SOFT DRINKS, TOTAL
(MILLION HECTOLITRES) 12 months
99/00
98/99
97/98
96/97
95/96
0 5 10 15 20 25 30 35 40
99/00
98/99
97/98
96/97
95/96
0 5 10 15