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Following the release of its Q3 financial statement, Carlsberg has announced that in order to improve profit and cash flow, it will be unifying its processes under one overall programme.
This new programme – Funding the Journey – is targeted towards achieving fuller and faster delivery of benefits.
The programme consists of four different elements – value management, supply chain efficiency, right-sizing of businesses and operating expense efficiency.
Under the company’s strategy of “operating expense efficiency”, 2000 employees will be made redundant as a result of the simplification of processes and functions, operating cost management and outsourcing of shared services.
Carlsberg’s CEO Cees ‘t Hart said: “We delivered solid performance in Q3 and confirm underlying business performance to be in line with previous expectations. Acknowledging the fact that the profit development of recent years has not been satisfactory, we are taking further steps to prepare the Carlsberg Group for the future. The strategy review process is on track to be communicated by the end of Q1 next year.
He added that in order to successfully execute on the strategy, short-term measures are being taken to ensure that the company has an appropriate cost base.
“Consequently, we have launched Funding the Journey, which merges all existing and new profit-enhancing initiatives under one umbrella and sees us taking significant steps to right-size parts of our business.”
“Funding the Journey will release funds to be invested in the SAIL2022 agenda as well as increase profits. This, and the fact that we are approaching the inflection point where our growth markets in Asia more than compensate for the declining markets in Eastern Europe, gives me confidence in the future.”