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## Asia 

## In 2013, our Asian region achieved strong volume, revenue and profit growth. 

In 2013, our overall Asian market continued to grow, although some markets were affected during the year by slightly slower economic growth and bad weather. 

Our Asian operations delivered another year of excellent performance with strong volume, revenue and profit growth. The re- gion remains an important growth driver for the Group and we will continue to invest in the region, both organically through brand investments and building new breweries and infrastructure to meet the growing demand, and through our focused M&A approach. 

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Our Asian beer volumes grew organically by 6%. Including acquisitions, beer volumes grew by 12% to 28.3m hl and now account for 24% of Group beer volumes. Cambodia, Laos and India did particularly well. The acquisition im- pact derived from the increased ownership in the Chongqing Jianiang Brewery joint venture in 2012, in Lanzhou and Qinghai in 2013, and in Chongqing Brewery Group in December 2013. 

Other beverages grew organically by 8%, mainly due to the soft drinks business in Laos. 

Our international premium brands continued to be an important driver for our Asian busi- ness and we rolled them out in new markets and maintained a high level of support be- hind the brands. The Carlsberg brand grew approximately 12% in its premium markets, mainly driven by strong performance in India by Carlsberg Elephant and in China by Carlsberg Chill and Light. 

## Tuborg 

Brand growth 

## 66% 21% 11,965 

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The Tuborg brand expanded rapidly across the region, becoming the fastest growing international premium brand in China and the largest international beer brand in India. The brand grew 66% in the region. Kronenbourg 1664 is establishing a solid super-premium footprint across the region with particularly good results for 1664 Blanc. The roll-out of Somersby and Grimbergen continued with promising results. 

Net revenue grew organically by 14%. Re- ported net revenue grew by 8%, impacted negatively by currency impact from Malawi, but also from India, Nepal and Malaysia. 

Price/mix continued to develop very favour- ably at +8% in spite of a negative country mix and was driven by price increases across most markets, the continued premiumisa- tion efforts and market share gains in the premium segments. 

## Operating profit 

Organic growth 

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## Employees 

2013, average full-time employees 1 

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1  Excl. Chongqing Brewery Group. 

Organic operating profit grew strongly by 21%. 

The operating margin improved by 100bp to 19.5%. The main profit drivers were China, Indochina and Nepal. 

## CHINA 

Our Chinese volumes grew organically by 4% and by 14% including acquisitions in a beer market that grew by an estimated 3-4%. We strengthened our market share in the interna- tional premium segment, where Carlsberg and Tuborg performed very strongly. 

Net revenue grew organically by 12% as a result of volume growth, strong performance by our premium portfolio, as Carlsberg Chill, Carlsberg Light and Tuborg continued to per- form very strongly, and an improved price/ mix for our local brands. Carlsberg Chill was successfully relaunched with a new upgraded design. We secured the deal to sponsor 

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