Strong set of results; proposed dividend increase of 60%
Unless otherwise stated, comments in this announcement refer to full-year performance.
HighlightsCEO Cees ’t Hart says: “We delivered a strong set of results for 2017, fuelled by disciplined execution of our efficiency programme – Funding the Journey – which we now believe will deliver around DKK 2.3bn, well above our initial expectations of DKK 1.5-2.0bn. During the year, we invested DKK 500m in our strategic growth priorities, which should lead to healthy and sustainable top- and bottom-line growth going forward."
"The earnings delivery and strong cash flow significantly reduced financial leverage. On this basis, we’re pleased that the Supervisory Board will recommend an increase in dividends of 60% to DKK 16, and by that reaching our target of a 50% adjusted payout ratio.”
Carlsberg will present the results at a conference call today at 9.00 am CET (8.00 am GMT). Dial-in information and slide deck are available beforehand on www.carlsberggroup.com.
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