Carlsberg Full-Year Report 2023

Highlights

Volume, Revenue & Profit growth

• Volume growth driven by Asia and premium brands
• Revenue/HL growth in all regions
• Solid operating profit growth
• Free operating cash flow impacted by currencies, total working capital, and CapEx

Cash Returns

• Three quarterly buy-backs
• Total buy-back carried out in 2023: DKK 3.2bn • Proposed dividend for the year: DKK 27
•  DKK 1bn quarterly share buy-back program launched this morning