Carlsberg group estimates losses due to deconsolidation of Russian business

As can be seen from the group’s financial statements, the damage caused by the deconsolidation of the Russian business amounted to 47.75 billion Danish crowns ($6.9 billion).

At the same time, the net loss of the company’s shareholders is estimated at 40.788 million Danish crowns or 5.9 billion dollars, so losses per share increased year-on-year from 7.6 to 299.7 crowns ($43.19).

The report also states that the Carlsberg Group’s consolidated revenue at the end of last year increased from DKK 70.3 billion to DKK 73.6 billion ($10.62 billion), an increase of 4.6%.

Net profit decreased 5% to 7.4 billion Danish crowns ($1.07 billion).

• In March 2022, Carlsberg announced its withdrawal from the Russian market. In June 2023 the company reportedthat it signed an agreement to sell its Russian business, but did not reveal who the buyer is.
• Shortly thereafter, in July 2023, in accordance with Vladimir Putin’s decree, the foreign shares of Danone and Baltika (Carlsberg) were transferred under the temporary management of the Federal Property Management Agency.
• The company noted that Russian leaders did not coordinate these actions with them. The CEO of Carlsberg called the transfer to the Federal Property Management Agency a business theft, but in the Russian Ministry of Finance refused these accusations.
• In October It became knownthat the company intends to revoke licensing agreements in Russia for the use of its brands. Company defendant and lost.
• Later, in December 2023, Russia’s Baltika attempted to protect the company’s brands in countries that Russia considers friendly. However, representatives of Baltika contacted not to the court, but to the presidential administration.