of own beer net revenue

87%of own beer

volumes

93%

FACT SHEET

OUR PURPOSE

OUR BRANDS

The Carlsberg Group is among the leading brewers in the world. We have breweries in 33 countries across Western Europe, Eastern Europe and Asia, serving consumers from our portfolio of attractive local and international beer brands.

We pursue perfection every day. We strive to brew better beers. Beers that stand at the heart of moments that bring people together. We don’t settle for immediate gain, when we can create a better tomorrow for all of us.

BREWING FOR A BETTER TODAY & TOMORROW

CRAFT & SPECIALITY AND ALCOHOL-FREE BREWS

33% volume growth29% volume growth

CORE BEER

INT

ERN

ATIO

NA

L B

RA

ND

S CR

AFT

& S

PECI

ALI

TY

BR

AN

DS

ALC

OH

OL-

FREE

B

REW

SLO

CAL

POW

ER

BR

AN

DS

of own beer net revenue

13%of own beer

volumes

7%

SOME FACTS

BEER VOLUME M.HL.

NUMBER OF DRAUGHTMASTER™INSTALLATIONS

BREWERIES NUMBER OFEMPLOYEES

133.1 +35% 75 >40,000

All numbers are FY 2018

NET DEBT/EBITDA PAYOUT RATIO (%)

2016 2017 2019

39

1.96

1.45

50

1.29

51

OUR REGIONS

OUR NUMBERSNET REVENUEORGANIC GROWTH (%)

ROIC (%)

CASH FLOW FROM OPERATING ACTIVITIES (DKKbn)

DIVIDEND PER SHARE(DKK)

2016 2017 2018

6.5

1.02.0

2016 2017 2018

5.96.9

8.1

OPERATING PROFITORGANIC GROWTH (%)

2016 2017 2018

11.0

8.4

5.0

2016 2017 2018

12.011.8

9.3

2016 2017 2018

1816

10

WESTERN EUROPE

ASIA EASTERN EUROPE

OF TOTAL VOLUME

OF TOTAL VOLUME

OF TOTAL VOLUME

47%

29% 24%

OF OPERATING PROFIT

OF OPERATING PROFIT

OF OPERATING PROFIT

50%

29% 21%

MARKETS WITH #1-2 POSITION

MARKETS WITH #1-2 POSITION

MARKETS WITH #1-2 POSITION

13

7 5

TOGETHER TOWARDS ZERO

ZEROCARBONFOOTPRINT

ZEROWATERWASTE

3.4 3.2 3.1 3.1

2015 2016 2017 2018

* Within PwC's assurance scope.

RELATIVE CO² EMISSIONS (KG CO²/hl)

RELATIVE WATER CONSUMPTION (hl/hl)

2015 2016 2017 2018

7.06.3 5.9 5.6

* Within PwC's assurance scope.

Payout ratioNet debt/EBITDA

62.5

9.3

REPORTED NET REVENUE DKKbn

REPORTED OPERATING PROFIT DKKbn

All numbers are FY 2018