Consensus estimates

Last data input: Aug 1, 2019

Contributors: 24

Median / Actual (MDKK)	2019H1e	2018	2019e	2020e	2021e
Sales volume (m hl)	67.6	133.1	135.6	137.8	140.2
- Western Europe (m hl)	30.2	62.4	62.0	62.3	62.6
- Asia (m hl)	21.9	39.0	41.4	43.3	45.1
- Eastern Europe (m hl)	15.6	31.7	32.1	32.3	32.5
Net sales	32,839	62,503	65,763	67,979	70,153
- Western Europe	17,924	36,151	36,344	36,815	37,293
- Asia	9,503	15,530	18,067	19,380	20,840
- Eastern Europe	5,343	10,780	11,363	11,781	12,136
- Other sales	17	42	42	42	42
EBIT before special items	4,748	9,329	10,037	10,621	11,208
- Western Europe	2,550	5,425	5,549	5,753	5,956
- Asia	1,869	3,164	3,658	3,992	4,324
- Eastern Europe	1,072	2,222	2,329	2,426	2,527
- Other EBIT	-780	-1,482	-1,512	-1,526	-1,541
Special items	150	-88	30	-50	-25
Net financials	-355	-722	-725	-725	-732
EBT	4,534	8,519	9,423	9,819	10,477
Taxes	-1,223	-2,386	-2,573	-2,661	-2,816
Profit before minorities	3,293	6,133	6,837	7,143	7,663
Minority interests	-444	-824	-888	-951	-1,012
Net profit	2,846	5,309	5,939	6,207	6,695
EBIT margin (%)	14.4	15.0	15.3	15.6	16.0
Tax rate (%)	27.2	28.0	27.4	27.0	26.9
EPS (DKK)	18.7	34.8	39.4	42.6	46.3
Adjusted EPS (DKK)	18.2	35.2	39.2	42.8	46.5
DPS (DKK)		18.00	19.63	21.43	23.13
Free cash flow	3,977	6,156	7,240	7,087	7,555
Net interest-bearing debt	19,051	17,313	18,613	18,881	19,853

* Volume data is collected only once every quarter - prior to quarterly statements.

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CARLSBERG A/S (hereafter referred to as "The Company") is followed by the analyst(s) listed above. Please note that any opinions, estimates or forecasts regarding The Company's performance made by these analysts are theirs alone and do not represent opinions, forecasts or predictions of The Company or its management. The Company does not by its reference above or distribution imply its endorsement of or concurrence with such information, conclusions or recommendations. Read more...

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Consensus estimates

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