Economic news

Carlsberg expects $1.4 billion writedown on Russia divestment

2022.04.21 13:47

Carlsberg expects $1.4 billion writedown on Russia divestment
FILE PHOTO: Bottles of Carlsberg beer are seen in fridge in a bar in St. Petersburg June 17, 2014. REUTERS/Alexander Demianchuk

COPENHAGEN (Reuters) -Carlsberg expects a writedown of about 9.5 billion Danish crowns ($1.39 billion) related to its decision to divest its business in Russia, the Danish brewer said on Thursday.

The assessment did not take into account any external offers for the business, Carlsberg (OTC:CABGY) said.

The brewer said it also expected impairment charges in Ukraine of 300 million crowns along with goodwill write-downs of 700 million crowns for the Central and Eastern Europe region, which includes Ukraine. 

Carlsberg lowered its operating profit growth forecast for this year to between minus 5% and plus 2%, compared with previous guidance of 0% and 7%.

The company last year generated 10% of its total revenue and 6% of its operating profit in Russia, where it has eight breweries and 8,400 employees.

It took full control of Baltika in 2008 but has faced sluggish sales amid a sanction-hit economy and regulations to curb alcohol abuse.

Carlsberg , the Western brewer most exposed to the Russian market, said in late March that it would sell its Russian business.

($1 = 6.8196 Danish crowns)

Source

Related Articles

Leave a Reply

Back to top button
bitcoin
Bitcoin (BTC) $ 84,140.54 0.08%
ethereum
Ethereum (ETH) $ 1,926.54 0.15%
tether
Tether (USDT) $ 1.00 0.00%
xrp
XRP (XRP) $ 2.39 0.95%
bnb
BNB (BNB) $ 607.17 2.44%
solana
Solana (SOL) $ 134.97 1.00%
usd-coin
USDC (USDC) $ 1.00 0.00%
cardano
Cardano (ADA) $ 0.739049 0.08%
dogecoin
Dogecoin (DOGE) $ 0.175659 1.57%
tron
TRON (TRX) $ 0.219663 0.70%
staked-ether
Lido Staked Ether (STETH) $ 1,925.69 0.26%
wrapped-bitcoin
Wrapped Bitcoin (WBTC) $ 83,995.50 0.10%
pi-network
Pi Network (PI) $ 1.50 2.41%
leo-token
LEO Token (LEO) $ 9.75 0.05%
chainlink
Chainlink (LINK) $ 14.08 1.79%
the-open-network
Toncoin (TON) $ 3.48 18.86%
stellar
Stellar (XLM) $ 0.273306 0.41%
wrapped-steth
Wrapped stETH (WSTETH) $ 2,306.72 0.00%
usds
USDS (USDS) $ 1.00 0.01%
hedera-hashgraph
Hedera (HBAR) $ 0.191886 0.06%
avalanche-2
Avalanche (AVAX) $ 19.45 3.77%
shiba-inu
Shiba Inu (SHIB) $ 0.000013 1.60%
sui
Sui (SUI) $ 2.32 1.41%
litecoin
Litecoin (LTC) $ 92.12 0.40%
bitcoin-cash
Bitcoin Cash (BCH) $ 338.48 1.71%
polkadot
Polkadot (DOT) $ 4.31 0.90%
mantra-dao
MANTRA (OM) $ 6.62 4.07%
ethena-usde
Ethena USDe (USDE) $ 1.00 0.04%
weth
WETH (WETH) $ 1,928.44 0.21%
bitget-token
Bitget Token (BGB) $ 4.47 1.19%
binance-bridged-usdt-bnb-smart-chain
Binance Bridged USDT (BNB Smart Chain) (BSC-USD) $ 0.999174 0.29%
hyperliquid
Hyperliquid (HYPE) $ 13.62 7.13%
whitebit
WhiteBIT Coin (WBT) $ 28.81 1.30%
wrapped-eeth
Wrapped eETH (WEETH) $ 2,048.38 0.03%
monero
Monero (XMR) $ 211.00 0.49%
uniswap
Uniswap (UNI) $ 6.26 2.60%
susds
sUSDS (SUSDS) $ 1.04 0.04%
aptos
Aptos (APT) $ 5.33 0.16%
dai
Dai (DAI) $ 0.99981 0.00%
near
NEAR Protocol (NEAR) $ 2.64 0.31%
pepe
Pepe (PEPE) $ 0.000007 1.03%
internet-computer
Internet Computer (ICP) $ 5.83 2.62%
okb
OKB (OKB) $ 46.72 2.21%
ondo-finance
Ondo (ONDO) $ 0.869134 0.27%
ethereum-classic
Ethereum Classic (ETC) $ 17.97 0.38%
mantle
Mantle (MNT) $ 0.803377 9.35%
gatechain-token
Gate (GT) $ 21.62 1.07%
aave
Aave (AAVE) $ 173.05 0.69%
coinbase-wrapped-btc
Coinbase Wrapped BTC (CBBTC) $ 84,201.56 0.12%
official-trump
Official Trump (TRUMP) $ 11.95 0.35%