Q1 Financial Statement of the Carlsberg Group as at March 31, 2003

| Source: Carlsberg A/S Carlsberg A/S

VALBY, Denmark, May 8, 2003 (PRIMEZONE) -- Carlsberg A/S (Other OTC:CABHF):

Difficult market conditions during off-season 


 -- The beer volume is at level with last year but the Carlsberg
    brand experienced an increase of just over 5%.

 -- Net revenue totalled DKK 6,855m against DKK 7,572m last year.

 -- Operating profit (EBITA) amounted to DKK 18m against DKK 440m
    last year.

 -- Profit before amortisation and write-down of goodwill
    totalled a negative DKK 112m against DKK 172m last year.

 -- Expectations to Carlsberg A/S' and Carlsberg Breweries A/S'
    share of profit for the year remain unchanged, as reduced
    expectations to operating profit in Carlsberg Breweries are
    compensated by lower financial expenses and lower tax rate.

Read the entire announcement attached: http://reports.huginonline.com/902651/117459.pdf 



            








        

            

                

                    
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                                INTERNATIONAL
                            
                            
                                BEVERAGES
                            
                            
                                EARNI
                            

                



        




    

        

        
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