Carlsberg Announces SAIL'22 Strategy
President and CEO Cees't Hart said, "With SAIL'22 the Carlsberg Group is embarking on a journey with the ambition to become a successful, professional and attractive brewer in our markets. By strengthening our core, positioning for growth and creating a winning culture, we will deliver improved financial performance and consistent value creation for our shareholders."
The Funding the Journey programme is expected to generate net benefits by 2018 of DKK 1.5 billion Danish Kroner to 2.0 billion Kroner. About half will be re-invested behind SAIL'22 initiatives and about half will improve earnings, with particular attention to margin improvement in Western Europe. By 2018, key elements of Funding the Journey, such as value management, supply chain improvements and operating cost management will be part of our daily business.
The company targets a net interest-bearing debt/EBITDA of less than 2.0x to ensure a solid balance sheet. It targets a dividend pay-out ratio of 50% of adjusted net result. Excess cash will be distributed to shareholders via share buy-backs or extraordinary dividends.(dpa)
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