Carlsberg Breweries achieved solid growth and increased profitability while the sale of Carlsberg beer increased by 6%, the company reported. Carlsberg A/S� share of profit for the year amounted to DKK 1bn, which is an increase of 10% when excluding one-off items. Operating profit (EBITA) amounted to DKK 3.8bn, which corresponds to a rise of 15%. Profit before amortization and write-down of goodwill increased by 8% to DKK 2.1bn.

�In general, the upward trend in earnings is the result of growth in the operations in Carlsberg Breweries in western Europe and eastern Europe and good progress in results in Asia, among other things because of Hite (South Korea) and the profit guarantee in Carlsberg Thailand. The year was characterized by increased focus on the strengthening of the Carlsberg brand, and 2002 saw an increase in marketing spendings of more than DKK 0.4bn. Carlsberg A/S� share of profit for the year per share amounted to DKK 20.5 against DKK 17.4 last year (exclusive of goodwill, own shares and one-off items), which corresponds to an increase of 18%.�

Net revenue increased by 3% on last year. The increase is mainly attributable to organic growth in western and Eastern Europe and the acquisition of companies in Turkey and Poland in July and August, which were included for the full financial year in 2002.