Q1 2018 TRADING STATEMENT

HIGHLIGHTS

• Organic net revenue growth of 2%; reported decline of 5% to DKK 12.7bn due to currencies (-5%) and disposals (-2%).
• Price/mix improvement of 1%.
• Total organic volume growth of 1%.
  • Tuborg volume growth +11%, Carlsberg flat, Grimbergen +12% and 1664 Blanc +44%.
  • Craft & speciality volume growth of +30%, alcohol-free brew volume growth of +23% in Western Europe.

2018 EARNINGS EXPECTATIONS MAINTAINED

• Mid-single-digit percentage organic growth in operating profit.
• A translation impact on operating profit of around DKK -550m, based on the spot rates at 30 April (previously DKK -450m).

CEO Cees ’t Hart says: "In the seasonally small first quarter, we delivered 2% organic revenue growth. The Q1 growth in craft & speciality and alcohol-free brews as well as the broadly based growth in Asia serve as proof points for our SAIL’22 agenda. Funding the Journey is delivering according to plan and we’re well on track to deliver on our full-year expectations.”

Carlsberg will present the results at a conference call today at 9.00 am CET (8.00 am GMT). Dial-in information and the slide deck are available beforehand on www.carlsberggroup.com.

Contacts     

Investor Relations:           
Peter Kondrup         +45 2219 1221
Iben Steiness          +45 3327 1232

Media Relations:          
Kasper Elbjørn         +45 4179 1216          
Anders Bering          +45 4179 1217

Attachments

• 05_UK_01052018_Q1 2018 Trading Statement
• Quarterly_financial_data_Carlsberg_Group