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## Measuring our performance 

We measure our success against our ambition and strategic goals using a number of KPIs, which are integrated in incentive schemes throughout the organisation to align the performance of the Group and ensure they are achieved. Selected financial and non- financial KPIs are presented here. 

## NON-FINANCIAL KPIs 

10bp Western Europe 

## MARKET SHARE 

Growing our market share is necessary to be a significant player in the markets where we choose to compete and is a strong indicator of our execution capabilities. However, balancing volume and value market share growth will remain in focus. 

In 2013, we grew our market share in all three regions due to our strong brands and strong commercial execution. 

30bp Russia 

-2% 2013 

## CARLSBERG BRAND VOLUME GROWTH IN PREMIUM MARKETS 

The Carlsberg brand is our flagship brand, and in most markets around the world it is a premium brand. The brand still has un- tapped commercial potential, not least in its premium markets. 

In 2013, the Carlsberg brand declined 2% as it was cycling the successful EURO activations in 2012, when the brand grew 8%. 

## FINANCIAL KPIs 

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Operating profit is a measure of our ability to enhance oper- ational performance through top- line growth and continued focus on cost-effectiveness. 

In 2013, we guided for around DKK 10bn in operating profit. The actual result was DKK 9.8bn as 5% organic growth was offset by negative currency impact. 

8% 2012 

A strong FCF allows us to return cash to our shareholders and pay down debt, enabling us to reinvest in our business and engage in value-creating M&A activities. 

In 2013, FCF was impacted by acquisitions in Asia and higher CapEx. In 2012, the disposal of the Copenhagen brewery site positively impacted FCF by DKK 1.9bn. 

Engagement score 1 

78 2013 

## EMPLOYEE ENGAGEMENT SCORE AND PARTICIPATION (MY VOICE) 

My Voice is a tool for tracking employees’ engagement and opinions on their work, workplace and the Carlsberg Group in order to continuously drive improvements and the performance of the Carlsberg Group. 

In 2013, 88% of employees participated in the annual survey versus 83% in 2012. The overall engagement score was equivalent to 2012. 

78 2012 

Maximising return on all invest- ments is the key to delivering sustainable value to shareholders. ROIC analyses of all investments throughout the value chain as well as of acquisition targets ensure the right basis for decision-making. 

In 2013, ROIC improved by 20bp on 2012. 

Participation 

88% 2013 

83% 2012 

Adjusted earnings per share is adjusted for the after-tax impact of special items and is a key measure of the underlying earnings of the Group. Our longer-term ambition is to deliver an average growth in ad- justed EPS of more than 10% p.a. 

In 2013, we guided for mid-single- digit percentage growth in adjusted EPS. Actual growth was 5%. 

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In 2013, we made strong progress towards our environmental targets. 

See these and other CSR targets on page 29. 

