116770 Project Obelix Pt1.qxp - Carlsberg Group

Carlsberg Breweries GroupNotes34 Investments in proportionally consolidated entitiesThe amounts shown below represent the Group’s share of the assets and liabilities, revenue and profit of proportionallyconsolidated entities, as shown in the overview of Group companies. These amounts are recognised in the consolidatedbalance sheet, including goodwill, and in the income statement.2007 2006DKK million DKK millionRevenue 12,615 9,990Total costs -9,909 -7,882Operating profit before special items 2,706 2,108Consolidated profit 1,698 1,448Non-current assets 10,410 8,572Current assets 3,243 3,313Non-current liabilities -3,906 -4,090Current liabilities -4,083 -2,558Net assets 5,664 5,237-Free cash flow 13 920Net cash flow -699 340Cash and cash equivalents, year end 368 1,095Contingent liabilities 95 682Capital commitments 405 559An average of 12,686 (2006: 10,962) full-time employees were employed in proportionally consolidated entities in 2007.The Group has not assumed any separate contingent liabilities or financial commitments relating to proportionally consolidatedentities.F-140