Companies

Carlsberg Ukraine (SLAV)

Business Profile

Slavutych, part of Carlsberg Group Ukraine (CGU), is one of the largest Ukrainian breweries with a 22% share of domestic beer output in 2010. Slavutych is the undisputed leader in the premium segment of the local beer market with an est. 54% share last year. The company produces 10 beer brands, including seven internationally popular premium brands, and is involved in the production of non-alcoholic drinks. The brewery changed its legal name to Carlsberg Ukraine in October 2012.

Financial Summary

Indicator2014201520162017E2018F
Sales ($m)292210************
EBITDA ($m)2443************
Net Income ($m)7142************
Net Debt ($m)(79)(91)************

Valuation Summary

Indicator2014201520162017E2018F
P/E7.412.4************
P/Sales1.802.51************
EV/EBITDA18.610.1************
P/Book2.693.41************
Prices are quoted in UAH.


*Data available to Dragon Capital's institutional clients only.