1 FY 2021 FINANCIAL STATEMENT PRESENTATION FINANCIAL STATEMENT 2021 4 February 2022 Disclaimer FORWARD-LOOKING STATEMENTS This presentation contains forward-looking statements, including statements about the Group's sales, revenues, earnings, spending, margins, cash flow, inventory, products, actions, plans, strategies, objectives and guidance with respect to the Group's future operating results. Forward-looking statements include, without limitation, any statement that may predict, forecast, indicate or im ...

FINANCIAL STATEMENT H1 2021 18 August 2021 1 Disclaimer FORWARD-LOOKING STATEMENTS This presentation contains forward-looking statements, including statements about the Group's sales, revenues, earnings, spending, margins, cash flow, inventory, products, actions, plans, strategies, objectives and guidance with respect to the Group's future operating results. Forward-looking statements include, without limitation, any statement that may predict, forecast, indicate or imply future results, performance or achi ...

Carlsberg A/S (OTCPK:CABGY) Q2 2021 Earnings Conference Call August 18, 2021 3:30 AM ET Company Participants Cees ´t Hart - CEO & President Heine Dalsgaard - CFO Peter Kondrup - IR Conference Call Participants Trevor Stirling - Bernstein Søren Samsøe - SEB Richard Withagen - Kepler Chevreaux Laurence Whyatt - Barclays Tristan Van Strien - Redburn Partners Olivier Nicolai - Goldman Sachs Fintan Ryan - JPMorgan Nik Oliver - UBS André Thormann - Danske Bank Sanjeet Aujla - Credit Suisse Operator Ladies and gen ...

Financial Data and Key Metrics Changes - The pandemic significantly impacted the business, with volumes declining by 7.7% and a price/mix decline of 4% due to negative channel and country mix [10][31] - Organic revenue declined by 11.6%, with a reported decline of 12.6% due to currency effects [31] - Operating profit declined organically by 8.9%, with reported operating profit at DKK4.6 billion, a year-on-year decline of 10.8% [37][38] - The operating margin improved by 30 basis points to 16% despite the decline in organic operating profit [37] Business Line Data and Key Metrics Changes - The on-trade channel was severely impacted, accounting for around 25% of volumes, leading to substantial revenue and profit declines [10] - In Western Europe, volumes declined by approximately 7%, with operating profit declining organically by 19.2% [19][20] - In Asia, China saw a strong rebound with 18% volume growth in Q2, while other markets faced challenges [24][25] - Eastern Europe experienced modest growth with beer volumes up 1.4% and non-beer volumes growing by 20.4% [26][27] Market Data and Key Metrics Changes - Western Europe saw a 50% decline in on-trade volumes during Q2, with gradual recovery expected but not returning to pre-COVID levels [66] - In Asia, the situation remains volatile with recent lockdowns affecting performance, particularly in Western China and Central Vietnam [79] - Eastern Europe was less impacted by COVID-19, with a 1% growth in the Russian market and no significant changes in competitive dynamics [28][29] Company Strategy and Development Direction - The company aims to respond for top-line growth and reset for the future, focusing on core brands and long-term growth opportunities in craft & specialities and alcohol-free brews [15][16] - The strategy includes prioritizing fewer brands and activities, enhancing value management, and expanding e-commerce activities [16][17] - The company plans to review cost structures and processes to adapt to a post-COVID-19 reality, which may lead to employee reductions [17] Management's Comments on Operating Environment and Future Outlook - Management highlighted the uncertainty in the operating environment due to the pandemic and government actions, impacting consumer behavior and spending [51][52] - The company issued new guidance forecasting an organic operating profit decline of 10% to 15% for the full year, reflecting cautious optimism [51] - Management emphasized the importance of maintaining a strong balance sheet and financial flexibility amid ongoing challenges [43][45] Other Important Information - The company made significant cash returns to shareholders, amounting to DKK5.5 billion in dividends and share buybacks [43] - The acquisition of Brooklyn brand rights is expected to enhance profitability and reduce complexity in operations [106] - The company is focused on maintaining a disciplined approach to costs, with a significant reduction in operating expenses during the first half [34][100] Q&A Session Summary Question: Guidance implications and margin performance - The guidance reflects significant uncertainty, with higher marketing spend expected in the second half but no major changes in other cost groups [61][62] Question: Changes in the on-trade and regulatory impacts - On-trade in Western Europe was down by 50% in Q2, with gradual improvements expected but not returning to last year's levels [66] Question: Volume declines in the on-trade and M&A focus - Volume declines in the on-trade are gradually improving, and while the company is open to inorganic opportunities, the primary focus remains on organic growth [66][67] Question: Volume and sales trajectory in July - June saw low to mid-single-digit volume growth, but July was impacted by bad weather and ongoing volatility in various markets [78] Question: Key assumptions for guidance and COVID-19 risks - The guidance does not factor in potential second waves of COVID-19, assuming current conditions remain stable [84] Question: Updates on India and competitive dynamics in Eastern Europe - India faces significant challenges with a slow recovery, while competitive dynamics in Eastern Europe remain stable with successful market share recovery [90][91]

INTERIM FINANCIAL STATEMENT 2020 13 August 2020 1 Disclaimer FORWARD-LOOKING STATEMENTS This presentation contains forward-looking statements, including statements about the Group's sales, revenues, earnings, spending, margins, cash flow, inventory, products, actions, plans, strategies, objectives and guidance with respect to the Group's future operating results. Forward-looking statements include, without limitation, any statement that may predict, forecast, indicate or imply future results, performance or ...

Carlsberg A/S (OTCPK:CABGY) Q4 2019 Earnings Conference Call February 4, 2020 3:00 AM ET Company Participants Cees Â't Hart - President & Chief Executive Officer Heine Dalsgaard - Chief Financial Officer Conference Call Participants Jonas Guldborg - Danske Bank Simon Hales - Citi Søren Samsøe - SEB James Edwardes Jones – RBC Trevor Stirling - Bernstein Laurence Whyatt - Barclays Richard Withagen - Kepler Cheuvreux Frans Høyer - Handelsbanken Fintan Ryan - JPMorgan Toby McCullagh - Societe Generale Andrea Pi ...

Financial Performance - The company experienced revenue growth of 3.2% organically[6, 23] - Operating profit increased by 10.5%[6, 24] - Free cash flow reached DKK 10 billion[8, 30] - Dividends and buybacks amounted to DKK 7.2 billion[8] - Net profit increased by 23.7% to DKK 6569 million[27] - Adjusted EPS increased by 16.5% to DKK 41.0[27] Segment Performance - Core Beer organic revenue and gross brand contribution grew by 3%[10] - Craft & Speciality organic volume grew by 16%[10] - Alcohol-free brews organic volume grew by 7%[10] - Asia organic volume grew by 6%[10] - Western Europe operating margin increased by 200bp[12] - Asia revenue increased by 12.3% and operating profit increased by 23.4%[15] - Eastern Europe total volumes decreased by 5.2% and revenue decreased by 0.4%, with operating profit decreasing by 17.9%[18] Strategic Priorities and Outlook - The company reduced relative carbon emissions by 13%[11] - The company reduced relative water usage by 3%[11] - The company expects mid-single-digit percentage organic growth in operating profit for 2020[43]

Carlsberg A/S (OTCPK:CABGY) Q3 2019 Results Conference Call October 31, 2019 4:00 AM ET Company Participants Cees Â't Hart - President and CEO Heine Dalsgaard - CFO Conference Call Participants Soren Samsoe - SEB Jonas Guldborg - Danske Bank Laurence Whyatt - Barclays Edward Mundy - Jefferies Simon Hales - Citi Nadine Sarwat - Bernstein Frans Høyer - Handelsbanken Cees Â't Hart Good morning, everybody, and welcome to CarlsbergÂ's Q3 2019 Conference Call. My name is Cees Â't Hart and I have with me, CFO, Hei ...

TRADING STATEMENT Q3 2019 31 October 2019 Carlsberg Group | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | |-----------------------------|-----------|-----------------|--------------------|-------|-----------------------------|-------|-------|-------|-------|-------|-------|-------| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Solid top-line growth | | | | | | | | | | | | | | | | | | | | | | | | | | | | NET REVENUE | | (DKKm) | | | 18,526 | | | | | | | | | PRICE/M ...

Carlsberg A/S (OTCPK:CABGY) Q2 2019 Results Conference Call August 15, 2019 3:00 AM ET Company Participants Cees 't Hart - President and Chief Executive Officer Heine Dalsgaard - Chief Financial Officer Peter Kondrup - Vice President of Investor Relations Conference Call Participants Trevor Stirling - Bernstein Jonas Hansen - Danske Bank Sanjeet Aujla - Credit Suisse Andrea Pistacchi - Deutsche Bank Simon Hales - Citi Søren Samsøe - SEB Nico Von Stackelberg - Liberum Edward Mundy - Jefferies Cees 't Hart Go ...