Carlsberg Suspends 2020 Guidance; Expands Cost-cutting
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The company is taking additional measures to reduce costs, mainly targeting specific cost groups, such as consultants, training, facilities, technology, travel and entertainment.
In addition, the company has implemented hiring restrictions and is looking to reduce marketing and promotional spend where this can achieve short-term savings without impacting the long-term health of brands.
The company anticipates lower on-trade investments and lower investments in returnable glass bottles. It sees a risk of a weaker working capital this year compared with achievements in recent years. Some customers will be subject to financial distress and, consequently, there is a risk of higher losses on debtors. (dpa)
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