116770 Project Obelix Pt1.qxp - Carlsberg Group

Carlsberg Breweries GroupNotes18 Investments in associates2006DKK millionCarlsberg Breweries Group shareNetrevenueProfit forthe yearafter tax Assets LiabilitiesOwnershipinterestProfit forthe yearafter taxEquityKey figures for associates:Tibet Lhasa Brewery Co. Ltd. 138 38 336 17 33% 13 117Lanzhou Huanghe Jianjiang Brewery Company 299 22 336 144 30% 7 61Other associates, Asia (4 entities) 226 26 268 121 30-49% 12 66International Breweries BV 416 67 562 471 16% 8 36Nuuk Imeq A/S 140 20 264 88 31.9% 10 28Other 2,138 93 2,441 1,940 20-25% 29 24379 5512007 2006DKK million DKK millionFair value of investments in listed associates:The Lion Brewery Ceylon, Biyagama, Sri Lanka 26 40Total26 40The Carlsberg Group also has minor investments in associates in which the Group is unable to exercise significant influence, as aresult of which these investments are classified as securities.19 Securities2007 2006DKK million DKK millionSecurities are classified in the balance sheet as follows:Non-current assets 100 107Current assets 34 8Total 134 115Types of security:Unlisted shares 134 115Total 134 115Securities classified as current assets are those expected to be sold within one year of the balance sheet date.Shares in unlisted entities comprise a number of small holdings. These assets are not recognised at fair value as the fair valuecannot be calculated on an objective basis. Instead the assets are recognised at cost.F-121