Donnerstag, 17. März 2016

Financial Times: Carlsberg shake-up: Chilly reception to for chief's strategic plan

Carlsberg's chief executive disappointed
investors as the Danish brewer laid out a fresh strategy with few concrete targets, writes Richard Mine.

Cees 't Hart thought to put his stamp on with the presentation of strategy until 2022. He unveiled plans to pay half of profits into dividends and cut is net debt/earning ratio.

But analysts were frustrated by a lack of detail, Rune Dahl, analyst at bank DNR said: "Some investors expected more in terms of concrete and measurable things. It#s a lot of words."

Shares in Carlsberg fell 5.2 per cent yesterday. Carlsberg has faced one problem after another in its biggest market, Russia. Mr Hart said the company remained committed to Russia, where it owns the Baltika brand.

He wants Carlsberg to develop its business in Asia, especially in China, India and Vietnam. It is also seeking to exploit demand for craft beer and looking for growth in non-alcoholic beer.

Mr Hart aims to shake up the culture at Carlsberg having detected a disconnect between the former management and staff.

Mr Dahl said Mr Hart had many of the right ideasbut implementing them would be the crucial test.

Fazit: Bei Carlsberg läuft's nicht rund.