Report and Accounts 1999 / 2000 - Carlsberg Group

More documents

Recommendations

Info

Contents 2 Letter to the Shareholders 4 Board of Directors and Executive Board 5 The Shape of the Carlsberg Group 6 Highlights and Key Figures, 5-year Summary 8 Report for 1999/00 15 Management and Corporate Governance 17 Shareholder Information 20 Group Staff Functions 30 Regional Reports 30 Nordic Region 33 Rest of Europe 36 Asia, Americas and Africa 39 Other Markets 39 Exports 40 Soft Drinks 41 The New Carlsberg A/S 57 Accounts for 1999/00 58 Financial Review 66 Accounting Policies 69 Profit and Loss Account 70 Balance Sheet 72 Cash Flow Statement 73 Notes to the Accounts 81 Development in Results by Quarters 82 Turnover, etc. in Major Subsidiaries 83 Group Companies 84 Management Statement 85 Auditors’ Report 86 Subsidiaries and Associated Companies 88 Announcements to the Stock Exchange
A Brief Presentation ▲ ▲ A Brief Presentation The Carlsberg Group is one of the world’s major international brewing groups and Carlsberg and Tuborg are two of the most widely-sold beer brands on a global scale. The Group comprises the Parent Company - the Carlsberg Breweries founded in 1847 and Tuborg Breweries founded in 1873 - and about 100 subsidiaries and associated companies, the majority of which are situated outside Denmark. The Group has a workforce of approximately 23,600 employees, if all associated companies are included. It sells its products in about 150 markets. The core business of the Carlsberg Group is the production and sale of beer. More than 90% of beer sales are achieved outside Denmark. International brewing operations include the export of beer brewed in Denmark, as well as local brewing at 67 production sites in 42 countries. Local production, according to the Group’s specifications, is handled partly by breweries in which the Group holds capital interests, and partly by breweries and partners with which agreements have been made for the production and sale of Carlsberg and Tuborg beer. The Group’s activities within the soft drink sector are carried out mainly by Coca-Cola Nordic Beverages A/S, which produces and markets household names such as Coca-Cola, Fanta and Sprite in the Nordic countries. Ever since Carlsberg’s foundation, the Company has operated its own research departments. In 1875, the Carlsberg Laboratory was established. It has now been integrated into the Carlsberg Research Center which has 80 laboratories equipped with the latest technology and a staff of about 150. In addition to extensive basic research, brewing related research is conducted into enzyme chemistry, protein chemistry, carbohydrate chemistry, plant breeding and genet- ics, as well as the malting, brewing and fermenting processes. Moreover, process and product development takes place in a variety of departments within the Company. Carlsberg A/S is a company publicly quoted on the Copenhagen Stock Exchange with some 14,000 registered shareholders. The largest, single shareholder by far is the Carlsberg Foundation, which is required by its charter to hold a minimum of 51% of the share capital in Carlsberg A/S. Only one other shareholder, the Danish Labour Market Supplementary Pension Scheme, accounts for more than 5% of the shares. Over the years, the employees of the Parent Company have accepted offers to buy shares on favourable terms or have been granted shares in connection with Carlsberg’s 150 years’ anniversary in 1997. The Carlsberg Foundation was established by Carlsberg’s founder, Brewer J.C. Jacobsen, and its income goes to support Danish natural and social sciences as well as the humanities. The Carlsberg Foundation also administers and maintains the Frederiksborg Museum of National History and the Carlsberg Laboratory. The New Carlsberg Foundation, a separate department of the Carlsberg Foundation with its own board of directors, has the special task of acquiring works of art for Danish museums and institutions. It is also responsible for the administration and maintenance of the Ny Carlsberg Glyptotek, in collaboration with the Danish government and the City of Copenhagen. The Tuborg Foundation is another department of the Carlsberg Foundation with its own board of directors. It operates in support of activities of benefit to society as is also the case with the Carlsberg Bequest to the Memory of Brewer J. C. Jacobsen. The annual report includes examples of Carlsberg’s international advertising campaign starring some of Carlsberg’s world-famous means of distribution. Photos by Bent Rej.
Page 1: Report and Accounts 1999 / 2000
Page 5 and 6: 2 Letter to the Shareholders Letter
Page 7 and 8: 4 Board of Directors and Executive
Page 9 and 10: 6 Highlights and Key Figures, 5-yea
Page 11 and 12: 8 Report for 1999/2000 Report for 1
Page 13 and 14: 10 Report for 1999/2000 Provisions
Page 15 and 16: 12 Report for 1999/2000 Malaysia: E
Page 17 and 18: 14 Report for 1999/2000 ed a key pa
Page 19 and 20: 16 Management and Corporate Governa
Page 21 and 22: 18 Shareholder Information Investor
Page 23 and 24: 20 Group Staff Functions Group Staf
Page 25 and 26: 22 European Music Awards, the devel
Page 27 and 28: 24 Group Staff Functions the projec
Page 29 and 30: 26 Corporate Strategic Sourcing (CS
Page 31 and 32: 28 Group Staff Functions allocation
Page 33 and 34: 3030 Regional Reports Regional Repo
Page 35 and 36: 32 Regional Reports Finland The Fin
Page 37 and 38: 34 Regional Reports due to the posi
Page 39 and 40: 36 Regional Reports vourably. Today
Page 41 and 42: 38 Regional Reports new joint ventu
Page 43 and 44: 40 Soft Drinks Soft Drinks CCNB In
Page 45 and 46: 4242 The New Carlsberg A/S The New
Page 47 and 48: 4444 The New Carlsberg A/S Carlsber
Page 49 and 50: 46 The New Carlsberg A/S establishm
Page 51 and 52: 48 The New Carlsberg A/S Group Comp
Page 53 and 54:
50 The New Carlsberg A/S 2 3 4 5 Ca
Page 55 and 56:
52 52 The New Carlsberg A/S Carlsbe
Page 57 and 58:
54 The New Carlsberg A/S Carlsberg
Page 60 and 61:
Accounts for 1999 / 2000 Accounts f
Page 62 and 63:
Financial Review of the Carlsberg G
Page 64 and 65:
Page 66 and 67:
Page 68 and 69:
Page 70 and 71:
Accounting Policies 67 running of t
Page 72 and 73:
Profit and Loss Account 1999/00 69
Page 74 and 75:
Balance Sheet 71 Balance Sheet at 3
Page 76 and 77:
Notes to the Accounts 73 Notes to t
Page 78 and 79:
Page 80 and 81:
Page 82 and 83:
Page 84 and 85:
Development in Results by Quarters
Page 86 and 87:
Group Companies 83 Group Companies
Page 88 and 89:
Auditors’ Report 85 Auditors’ R
Page 90 and 91:
Subsidiaries 87 Carlsberg Malawi Br
Page 92 and 93:
▲ ▲ Board of Directors and Exec
Page 94 and 95:
Carlsberg's primary activities are
show all

Report and Accounts 1999 / 2000 - Carlsberg Group

Create successful ePaper yourself

Delete template?

Save as template?