5 Year Key Figures

  2019 2018 2017  2016 2015
Volume (million hectolitres) 11.0 10.8 9.9 9.9 9.3

 

INCOME STATEMENT (MDKK)

         
Net revenue 7,692 7,298 6.384 6,340 6,032
EBITDA 1,814 1,673 1.362 1,306 1,225
EBITDA margin (%) 23.6 22.9 21.3 20.6 20.3
Earnings before interest and tax (EBIT) 1,469 1,339 1.069 1,001 917
EBIT margin (%) 19.1 18.4 16.7 15.8 15.2
Income after tax from investments in associates 25 20 18 28 31
Other financial income and expenses, net -36 -31 -31 -31 -46
Profit before tax 1,458 1,328 1.056 998 902
Net profit for the year 1,140 1,040 831 784 711
Parent company shareholders' share of net profit 1,142 1,041 831 784 711

 

BALANCE SHEET (MDKK)

         
Non-current assets 7,163 6,775 5,121 5,180 5,505
Total assets 8,493 8,062 6,778 6,076 6,748
Equity 3,106 2,908 2,814 2,911 2,935
Net interest-bearing debt 2,705 2,522 975 991 1,184
Net working capital -671 -748 -957 -881 -990
Invested capital 6,211 5,835 4,030 4,111 4,347

 

CASH FLOW (MDKK)

         
Operating activities 1,403 1,214 1.168 985 1,160
Investing activities -616 -1,622 -218 38 -123
Free cash flow 1,159 942 950 1,022 1,032

 

SHARE RATIOS (DKK)

         
Number of shares (million) 50.1 51.0 52.7 54.1 55.5
Earnings per share (EPS) 23.0 20.6 15.9 14.7 13.0
Diluted earnings per share 22.9 20.6 15.9 14.6 12.9
Free Cash flow per share 23.4 18.7 17.8 19.2 18.9
Dividend per share 12.20 10.80 8.90 8.15 7.20
Year-end price per share 610.0 449.0 371.8 272.6 280.1

 

EMPLOYEES

         
Average number of employees 2,567 2,416 2,299 2,350 2,314

 

FINANCIAL RATIOS (%)

         
Return on invested capital including goodwill (ROIC) 19 21 21 18 16
Return on invested capital excluding goodwill (ROIC) 30 33 32 28 23
Free cash flow as a percentage of net revenue 15 13 15 16 17
Cash conversion 102 91 114 130 145
Net interest-bearing debt/EBITDA 1.5 1.5 0.7 0.8 1.0
Equity ratio 37 36 42 48 43
Return on equity (ROE) 38 36 29 27 25
Dividend payout ratio (DPR) 54 53 56 56 56