Carlsberg A/S B

Carlsberg is engaged in the production and sale of beer and other beverages. Co.'s brewing operations are concentrated in Northern and Western Europe, Eastern Europe and Asia, while markets outside these regions are serviced through exports and production under license. Co.'s other beverages include soft drinks, water and cider. In addition to beverage activities, Co. is also engaged in real estate.
  • TickerCARL B
  • ISINDK0010181759
  • ExchangeNasdaq Nordic Copenhagen
  • SectorBeverages
  • CountryDenmark

Analysts

1 director sold

A director at Carlsberg AS sold 28,169 shares at 1,000.759DKK and the significance rating of the trade was 100/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years clearly showing Close periods where trading activity is restricted under listing rules. The names of boa...

Nikolaas Faes

Brewers | Lasting forever

In this research we analyze in depth the past and future organic revenue growth rates of the brewers. Over the past five years, AB InBev’s 4.9% annual organic revenue growth and Heineken’s 4.5%, look spectacular. However, as both have nearly 40% of their revenues from high-inflation countries, their inflation-corrected organic revenue growth rate has been a disappointing at 0.5% and 0.7%, respectively; well below the 2.1% that Royal Unibrew managed but better than the -1.4% from Carlsberg and the -3% from Molson Coors

Rune Majlund Dahl

Carlsberg (Sell, TP: DKK850.00) -

Carlsberg (CARLB DC, Sell) - (11 pages)

Nikolaas Faes

CARLSBERG: Recommendation to Buy | BUY vs. Neutral | DKK1060 vs. DKK860 (+9%)

CARLSBERG - BUY vs. Neutral | DKK1060 vs. DKK860 (+9%) Recommendation to Buy Pre-released figures promise good news on Wednesday So there is a fundamental change after all Up-ing our reco to Buy What to like about Carlsberg?

Rune Majlund Dahl

Carlsberg (Sell, TP: DKK720.00) - Guidance up to high single digits

Based on stronger than expected performance in H1, Carlsberg has lifted its 2019 operating profit organic growth guidance to high single digits (previously mid-single digits). At this stage there are limited comments on what is driving the better performance, but both organic revenue and volume growth of c4.2% and 1.4%, respectively, are largely in line with consensus, and the increased guidance thus mainly reflects better margin progression. We expect consensus 2019 EPS to come up by c3% to reflect the new guidance.

Rune Majlund Dahl

Carlsberg (Sell, TP: DKK720.00) - Q2/H1e: Growth driven by Asia

Carlsberg (CARLB DC, Sell) - Q2/H1e: Growth driven by Asia (11 pages)

Philip Gorham

Morningstar | Asia Outperforms Again for Carlsberg in 1Q; Raising FVE But Shares Appear Fully Priced. See Updated Analyst Note from 02 May 2019

Carlsberg beat our sales estimates again in the first quarter, posting 6.4% organic growth, supported by volume tailwinds in Asia. We are raising our fair value estimate to DKK 785 from DKK 750 for the B-shares and to $23.50 from $23 for the ADRs, entirely as a result of raising our revenue growth estimates for the Asia segment for this year and next. After a strong rally in the stock year-to-date, we believe Carlsberg is now slightly overvalued, although we acknowledge that the business is performing very well at present. First quarter organic sales growth of 6.4% maintains the momentum of l...

1 director sold

A director at Carlsberg AS sold 28,169 shares at 1,000.759DKK and the significance rating of the trade was 100/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years clearly showing Close periods where trading activity is restricted under listing rules. The names of boa...

Håkon Astrup ...
  • Jesper Ingildsen
  • Karl-Johan Bonnevier
  • Ole-Andreas Krohn
  • Olof Larshammar
  • Patrik Ling
  • Rune Majlund Dahl
  • Simen Mortensen

Northern Lights

Eivind Sars Veddeng ...
  • Håkon Astrup
  • Nicolay Dyvik
  • Ole-Andreas Krohn
  • Rune Majlund Dahl
  • Tomi Railo

Northern Lights

Mats Bye ...
  • Ole-Andreas Krohn
  • Rune Majlund Dahl

Northern Lights

Frank Maaø ...
  • Håkon Astrup
  • Karl-Johan Bonnevier
  • Martin Arnell
  • Mattias Holmberg
  • Ole-Andreas Krohn
  • Olof Larshammar
  • Paul Harper
  • Rune Majlund Dahl
  • Simen Mortensen

Northern Lights

Jesper Ingildsen ...
  • Ole-Andreas Krohn
  • Rune Majlund Dahl
  • Stefan Gauffin
  • Tomi Railo

Northern Lights

Carlsberg

CARLSBERG AS sees an upgrade to Positive due to a better fundamental star rating

The general evaluation of CARLSBERG AS (DK), a company active in the Brewers industry, has been upgraded by the independent financial analyst theScreener with the addition of a star. Its fundamental valuation now shows 4 out of 4 possible stars while its market behaviour can be considered as defensive. theScreener believes that the additional star(s) merits the upgrade of its general evaluation to Positive. As of the analysis date August 16, 2019, the closing price was DKK 1,002.00 and its potential was estimated at DKK 1,052.10.

Carlsberg

Carlsberg

Carlsberg

ING
Hendrik Wiersma ...
  • Jeroen van den Broek
  • Job Veenendaal
  • Nadège Tillier
  • Suvi Platerink Kosonen

Coffee, Croissants & Credit/Carlsberg and Innogy

Benelux Bank Green Bonds: Looking for green value

ING
Hendrik Wiersma ...
  • Jeroen van den Broek
  • Job Veenendaal
  • Nadège Tillier
  • Suvi Platerink Kosonen

Coffee, Croissants & Credit/CSPP+, Santander and AB InBev

Strategy: Steeper on vagueness, preferred senior on CSPP+

ING
Hendrik Wiersma ...
  • Jeroen van den Broek
  • Job Veenendaal
  • Nadège Tillier
  • Suvi Platerink Kosonen

Coffee, Croissants & Credit/Carlsberg, AT&T and Alliander

Carlsberg issues new 10yr bond, we see more value in the 2024 issue

ING
Hendrik Wiersma ...
  • Jeroen van den Broek
  • Job Veenendaal
  • Nadège Tillier
  • Suvi Platerink Kosonen

Coffee, Croissants & Credit/BNP Paribas, Ahold, Carlsberg and Veolia

BNP Paribas (BNP) reported stable earnings and capital metrics for 1Q19 as the positive performance of the bank's international business compensated for the other divisions. BNP is well positioned to meet its NPS supply target for this year with another €5bn to be printed by the end of the year. Credit neutral. (For full story, download report)

ING
Hendrik Wiersma ...
  • Jeroen van den Broek
  • Job Veenendaal
  • Nadège Tillier
  • Suvi Platerink Kosonen

Coffee, Croissants & Credit/Carlsberg, BNP, Nordea, Handelsbanken

Carlsberg (CARLB) reported strong results with net revenue of DKK62,503m in FY18 on the back of 3% reported growth or 6.5% organic growth. This was split between 4.8% organic volume growth and 2% growth from price/mix. Beer volumes were up 4.4% organically. This was in particular supported by craft & specialty, which grew 26% in volume terms, while at the same time underpinning price/mix. Growth was supported by all regions with especially Asia performing strongly. Operating profit before special items grew 5.1% to DKK9,329m with organic growth of 11% but hampered by a 5.6% currency headwind. ...

Nikolaas Faes

Brewers | Lasting forever

In this research we analyze in depth the past and future organic revenue growth rates of the brewers. Over the past five years, AB InBev’s 4.9% annual organic revenue growth and Heineken’s 4.5%, look spectacular. However, as both have nearly 40% of their revenues from high-inflation countries, their inflation-corrected organic revenue growth rate has been a disappointing at 0.5% and 0.7%, respectively; well below the 2.1% that Royal Unibrew managed but better than the -1.4% from Carlsberg and the -3% from Molson Coors

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Expert Corporate Governance Service (ECGS)

Carslberg - March, 13 2019

In general, Carlsberg is in compliance with the Danish regulations relating to organisation and procedures of the Annual General Meeting. Under ITEM 2, the supervisory board seeks approval of the Company's financial statements as well as discharge from liability. Although ECGS has no concerns over the annual accounts, it does not approve of the discharge requested since there is no (legal) requirement for it in Denmark. Accordingly, ECGS recommends to vote OPPOSE. Under ITEM 5a, it is proposed to re-appoint Mr. Flemming Besenbacher as Chairman of the Supervisory board. Mr. Besenbacher is cur...

Carlsberg – Proxinvest Corporate Governance Rating ® : C

Proxinvest Corporate Governance Rating ® helps investors integrate governance into their investment decision and identify governance risks and opportunities within their portfolio. Proxinvest Corporate Governance Rating ® Service rates European issuers through the analysis of four main themes : Ownership & Shareholder rights, Board & Committees, Audit & Process, Remuneration. Each theme is rated taking into account several comprehensive sub-categories. Our unique two-step process to achieve each rating includes a first step quantitative valuation and a second step qualitative filter...

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