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Market Closed -
Other stock markets
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5-day change | 1st Jan Change | ||
| 846.40 DKK | +2.57% |
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-1.88% | +1.34% |
| Apr. 17 | DNB Carnegie trims Carlsberg price target to DKK 1,030 (1,080), reiterates Buy | FW |
| Apr. 16 | SEB cuts Carlsberg price target to DKK 950 (1,010), reiterates Hold | FW |
Business description: Carlsberg A/S

- beer production and sales: 99 million hectoliters sold in 2025 primarily under the Carlsberg and Tuborg brands;
- production, bottling, and distribution of non-alcoholic beverages: carbonated beverages, energy drinks, and mineral waters (49 million hectoliters sold in 2025).
At the end of 2025, the group had 57 breweries located in Denmark, in Poland (3), in Germany (3), in the United Kingdom (2), in Western Europe (4), in China (27), in India (7), in Asia (3), and in Central/Eastern Europe (7).
Net sales are distributed geographically as follows: Western Europe (58%), Asia (21.6%), and Eastern Europe/Central Europe/India (20.4%).
Number of employees: 36,527
Sales by Activity: Carlsberg A/S
| Fiscal Period: December | 2021 (DKK) | 2022 (DKK) | 2023 (DKK) | 2024 (DKK) | 2025 (DKK) |
|---|---|---|---|---|---|
Beverages - Western Europe | 30.5B | 34.89B | 37.32B | 38.08B | 51.65B |
Beverages - Asia (excl. India) | - | - | - | 20.47B | 19.27B |
Beverages - Central & Eastern Europe and India | - | - | - | 16.45B | 18.16B |
Beverages - Central & Eastern Europe | 16.66B | 11.68B | 12.96B | - | - |
Beverages - Asia | 19.46B | 23.68B | 23.29B | - | - |
Not Allocated | 9M | 16M | 21M | 10M | 12M |
Geographical breakdown of sales: Carlsberg A/S
| Fiscal Period: December | 2021 (DKK) | 2022 (DKK) | 2023 (DKK) | 2024 (DKK) | 2025 (DKK) |
|---|---|---|---|---|---|
Other Countries | 44.25B | 44.93B | 47.41B | 48.84B | 52.63B |
United Kingdom | - | 7.07B | 7.9B | 8.25B | 18.76B |
China | 11.95B | 13.78B | 13.35B | 12.88B | 12.57B |
Denmark | 3.9B | 4.49B | 4.92B | 5.04B | 5.13B |
Russia | 6.54B | - | - | - | - |
Executive Committee: Carlsberg A/S
| Manager | Title | Age | Since |
|---|---|---|---|
| Chief Executive Officer | 49 | 2023-08-31 | |
Ulrica Fearn
DFI | Director of Finance/CFO | 53 | 2022-12-31 |
Peter Kondrup
IRC | Investor Relations Contact | - | 2008-12-31 |
| Corporate Officer/Principal | 57 | 2008-12-31 | |
Anders Røed
PRN | Corporate Officer/Principal | - | 2024-07-31 |
Composition of the Board of Directors: Carlsberg A/S
| Director | Title | Age | Since |
|---|---|---|---|
Richard Burrows
BRD | Director/Board Member | 80 | 2008-12-31 |
| Director/Board Member | 71 | 2012-03-21 | |
| Director/Board Member | 62 | 2013-12-31 | |
Erik Lund
BRD | Director/Board Member | 62 | 2014-12-31 |
Lilian Biner
BRD | Director/Board Member | 64 | 2018-12-31 |
Magdi Batato
BRD | Director/Board Member | 67 | 2017-12-31 |
Majken Schultz
BRD | Director/Board Member | 67 | 2018-12-31 |
Henrik Poulsen
CHM | Chairman | 59 | - |
Esko Mikael Aro
BRD | Director/Board Member | 61 | 2022-03-13 |
Punita Lal
BRD | Director/Board Member | 62 | 2022-03-13 |
Holdings: Carlsberg A/S
| Name | Equities | % | Valuation |
|---|---|---|---|
| 155,932,500 | 51% | 649 M $ | |
CARLSBERG A/S 0.49% | 484,732 | 0.49% | 60 M $ |
| 40,198,200 | 17.34% | 45 M $ | |
| 1,676,440 | 7.99% | 14 M $ |
Company details: Carlsberg A/S

Group companies: Carlsberg A/S
| Name | Category and Sector |
|---|---|
Žatecký pivovar spol sro
Žatecký pivovar spol sro Beverages: AlcoholicConsumer Non-Durables Produces and distributes beer products |
Beverages: Alcoholic
|
Carlsberg India Pvt Ltd.
Carlsberg India Pvt Ltd. Beverages: Non-AlcoholicConsumer Non-Durables Produces and markets beers and soft drinks |
Beverages: Non-Alcoholic
|
Carlsberg India Pvt Ltd.
Carlsberg India Pvt Ltd. Beverages: Non-AlcoholicConsumer Non-Durables Produces and markets beers and soft drinks |
Beverages: Non-Alcoholic
|
Carlsberg Supply Company UK Ltd. | |
Beverages: Alcoholic
|
Other Brewers
| Change | 5d. change | 1-year change | 3-years change | Capi.($) | ||
|---|---|---|---|---|---|---|
| +2.57% | -1.88% | -5.56% | -21.99% | 18.31B | ||
| -0.02% | +0.04% | +77.04% | +8,136.73% | 276B | ||
| +0.65% | +0.22% | +11.77% | +9.85% | 149B | ||
| +5.07% | -4.90% | +9.50% | +4.78% | 47.93B | ||
| +1.27% | +0.44% | -13.03% | -31.29% | 44.93B | ||
| -1.20% | -2.33% | -13.05% | -28.62% | 28.14B | ||
| +1.11% | -0.31% | -6.19% | -26.09% | 20.79B | ||
| -0.45% | +3.22% | -18.32% | -0.36% | 15.28B | ||
| -0.46% | -1.63% | +20.27% | +20.67% | 13.29B | ||
| -1.07% | -4.15% | -12.32% | -69.67% | 12.49B | ||
| Average | +0.75% | -1.02% | +5.01% | +799.40% | 62.62B | |
| Weighted average by Cap. | +0.64% | -0.38% | +35.37% | +3,587.28% |
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