Carlsberg Faces Loss After Russian Exit

After the Russian state seized control of Carlsberg’s subsidiary Baltika, the company wrote down their Russian assets and recognized losses on currency and hedging. This resulted in more than a 47 billion kroner impact on the 2023 account, with a net loss of 40.8 billion kroner. Revenue increased from 70.3 to 73.6 billion kroner, despite selling slightly less beer, due to Carlsberg charging more for its beer. Sales decreased in Europe but increased in Asia. Tuborg sales grew by 3%, Brooklyn by 34%, while Sommersby cider fell by 6%. The proposed dividend remains at 27 kroner per share. The company aims for a 4-6% annual revenue growth and a 1-5% increase in operating profit for 2024.