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MarketScreener Homepage  >  Equities  >  NASDAQ OMX COPENHAGEN  >  Carlsberg A/S    CARL B   DK0010181759

CARLSBERG A/S

(CARL B)
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Carlsberg A/S : German brewers forced to throw away beer, seek state aid like pubs

02/22/2021 | 10:21am EST
Beer garden manger attends to mugs during tapping of barrel near Theresienwiese, Munich

HAMBURG (Reuters) - German brewers have been forced to throw away unsold beer and have asked the government for financial aid as the coronavirus lockdown reduces demand, they said on Monday.

German pubs, hotels and restaurants have been closed since November in the country's second lockdown following the first one earlier last year.

The brewers called on the German government to give beer breweries aid under the country's programmes to help industry recover from the impact of the coronavirus crisis. Germany's government has given financial aid to pubs and bars but not breweries.

"From week to week, ever more breweries, brewery-owned pubs and wholesalers are facing a threat to their existence through no fault of their own and are threatened by insolvency," said an open letter from about 300 breweries released by the brewers' associations DBB and VPBD.

The letter was signed by breweries including Carlsberg Deutschland, a unit of Danish brewer Carlsberg, the Bitburger Braugruppe, Krombacher and Paulaner Brauerei.

"The lockdown and the collapse of the draught beer market this created meant breweries lost a large part of their economic foundations overnight," the letter said.

"Stock worth many millions of euros that has exceeded its sell-by date has had to be thrown away."

Sales of bottled beer in shops were "nowhere near enough" to compensate for lost sales to the hospitality sector and weak exports, the breweries said.

(Reporting by Michael Hogan, editing by Ed Osmond)


© Reuters 2021
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Financials
Sales 2021 63 479 M 10 381 M 10 381 M
Net income 2021 6 426 M 1 051 M 1 051 M
Net Debt 2021 22 163 M 3 624 M 3 624 M
P/E ratio 2021 22,2x
Yield 2021 2,34%
Capitalization 147 B 24 053 M 24 105 M
EV / Sales 2021 2,67x
EV / Sales 2022 2,51x
Nbr of Employees 40 000
Free-Float 68,0%
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Technical analysis trends CARLSBERG A/S
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Income Statement Evolution
Consensus
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Mean consensus OUTPERFORM
Number of Analysts 23
Average target price 1 111,85 DKK
Last Close Price 987,40 DKK
Spread / Highest target 28,6%
Spread / Average Target 12,6%
Spread / Lowest Target -20,0%
EPS Revisions
Managers and Directors
NameTitle
Cees't C. Hart President & Chief Executive Officer
Heine Dalsgaard Chief Financial Officer
Flemming Besenbacher Chairman-Supervisory Board
Richard George William Burrows Member-Supervisory Board
Lars Fruergaard Jørgensen Vice Chairman-Supervisory Board
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