Carlsberg expects to write down around 27 billion Danish crowns (R27 billion) from the sale of its Russian business.
- The sale agreement will not impact Carlsberg’s 2023 earnings expectations.
- Carlsberg’s Russian business generated 10% of its revenue in 2021 before being excluded from the company’s core market in 2022.
- Carlsberg originally said it would announce the Russian business sale by June 2022 but has now only signed an agreement to sell.
- Carlsberg declined to name the buyer for its Russian business or disclose the sale price due to pending regulatory approval from Russian authorities.
- Carlsberg said it was seeking an option to repurchase the Russian business in the future.