Carlsberg Group (CARL) AGM 2026 summary

Opening remarks and agenda

• AGM convened with proper notice and quorum, chaired by Anders Stubbe Arndal, with all board and employee-elected members present.

• Agenda included annual report approval, discharge of boards, profit distribution, remuneration, board elections, auditor appointment, and authorization.

Financial performance review

• Revenue reached DKK 89.1 billion, up 19% year-on-year, driven by Britvic acquisition.

• Operating profit (adjusted) was DKK 14 billion, up 22.7%; net profit (adjusted) DKK 8 billion, up 11%.

• Free cash flow was DKK 7 billion; net interest-bearing debt at DKK 61.6 billion.

• Dividend of DKK 29 per share proposed, a 7% increase, totaling DKK 3.8 billion.

• EBITDA gearing at 3.28, above target, with plans to return to target by end of 2027.

Board and executive committee updates

• Supervisory board and executive committee composition highlighted, with focus on diversity and international experience.

• Board remuneration increased by 3% to DKK 502,000; no incentive pay for board members.

• Executive remuneration policy amended to allow higher CEO bonus (up to 150% of salary) and minor committee fee increases.