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Key developments 2013 

## -624 m 

Cost of restructuring projects and impairment, primarily in Western Europe, of DKK 624m. 

## 107 m 

Reversal of provision for onerous malt and hops contracts, DKK 107m, positively impacted special items. 

## -200 m 

Impairment of trademarks, primarily due to changes in brand strategy, totalled DKK 200m. 

## 239 m 

Recycling of prior years’ cumulative exchange rate difference on entities ac- quired in step acquisitions impacted special items positively by DKK 239m. 

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Special items include major impairments and expenses related to restructuring initiatives implemented across the Group. Restructur- ings are initiated to enhance the Group’s 

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future earnings potential and to make the Group more efficient going forward. In 2013, special items related to: 

