Royal Unibrew (CPH: RBREW) financial statements

The consolidated income statement, balance sheet and cash flow statement of Royal Unibrew for its last 7 fiscal years, as filed with the regulator, in millions of Danish kroner. At the end of fiscal 2025 it had DKK 18,269m in total assets and DKK 6,713m in equity.

Income statement

Item	2025	2024	2023	2022	2021	2020	2019
Revenue	DKK 15,723m	DKK 15,036m	DKK 12,927m	DKK 11,487m	DKK 8,746m	DKK 7,557m	DKK 7,692m
Cost of sales	DKK 8,957m	DKK 8,648m	DKK 7,533m	DKK 6,618m	DKK 4,490m	DKK 3,613m	DKK 3,612m
Gross profit	DKK 6,766m	DKK 6,388m	DKK 5,394m	DKK 4,869m	DKK 4,256m	DKK 3,944m	DKK 4,080m
Operating profit	DKK 2,202m	DKK 1,968m	DKK 1,638m	DKK 1,516m	DKK 1,652m	DKK 1,515m	DKK 1,469m
Finance costs	DKK 280.0m	DKK 326.0m	DKK 260.0m	DKK 103.0m	DKK 49.0m	DKK 46.0m	DKK 41.0m
Profit before tax	DKK 1,966m	DKK 1,865m	DKK 1,406m	DKK 1,785m	DKK 1,647m	DKK 1,505m	DKK 1,458m
Income tax	DKK 406.0m	DKK 401.0m	DKK 311.0m	DKK 294.0m	DKK 349.0m	DKK 307.0m	DKK 318.0m
Net profit	DKK 1,560m	DKK 1,464m	DKK 1,095m	DKK 1,492m	DKK 1,299m	DKK 1,183m	DKK 1,142m
Earnings per share	DKK 31.40	DKK 29.20	DKK 21.90	DKK 30.50	DKK 26.50	DKK 24.10	DKK 23.00
Diluted earnings per share	DKK 31.30	DKK 29.20	DKK 21.90	DKK 30.50	DKK 26.50	DKK 24.10	DKK 22.90

Balance sheet

Item	2025	2024	2023	2022	2021	2020	2019
Total assets	DKK 18,269m	DKK 17,886m	DKK 17,778m	DKK 14,474m	DKK 10,914m	DKK 8,306m	DKK 8,493m
Current assets	DKK 3,438m	DKK 3,534m	DKK 3,524m	DKK 3,058m	DKK 2,143m	DKK 1,291m	DKK 1,330m
Inventories	DKK 1,286m	DKK 1,340m	DKK 1,401m	DKK 1,213m	DKK 780.0m	DKK 517.0m	DKK 463.0m
Property, plant and equipment	DKK 5,120m	DKK 4,749m	DKK 4,662m	DKK 3,680m	DKK 2,734m	DKK 2,455m	DKK 2,501m
Goodwill	DKK 5,161m	DKK 5,149m	—	—	—	—	—
Cash	DKK 82.0m	DKK 103.0m	DKK 57.0m	DKK 214.0m	DKK 86.0m	DKK 81.0m	DKK 72.0m
Total liabilities	DKK 11,556m	DKK 11,478m	DKK 12,030m	DKK 9,316m	DKK 7,572m	DKK 4,974m	DKK 5,386m
Current liabilities	DKK 4,846m	DKK 5,510m	DKK 5,244m	DKK 4,610m	DKK 3,801m	DKK 2,244m	DKK 2,581m
Equity	DKK 6,713m	DKK 6,408m	DKK 5,748m	DKK 5,158m	DKK 3,330m	DKK 3,308m	DKK 3,097m
Equity including minorities	DKK 6,713m	DKK 6,408m	DKK 5,748m	DKK 5,158m	DKK 3,342m	DKK 3,332m	DKK 3,107m
Minority interests	—	—	DKK 0.0m	DKK 0.0m	DKK 12.0m	DKK 24.0m	DKK 10.0m

Cash flow statement

Item	2025	2024	2023	2022	2021	2020	2019
Operating cash flow	DKK 2,385m	DKK 2,189m	DKK 1,777m	DKK 1,135m	DKK 1,753m	DKK 1,738m	DKK 1,402m
Investing cash flow	−DKK 954.0m	−DKK 651.0m	−DKK 2,925m	−DKK 744.0m	−DKK 1,604m	−DKK 258.0m	−DKK 572.0m
Financing cash flow	−DKK 1,454m	−DKK 1,491m	DKK 998.0m	−DKK 252.0m	−DKK 146.0m	−DKK 1,465m	−DKK 904.0m
Capital expenditure	DKK 797.0m	DKK 761.0m	DKK 602.0m	DKK 475.0m	DKK 426.0m	DKK 280.0m	DKK 261.0m
Dividends paid	DKK 749.0m	DKK 726.0m	—	—	—	DKK 600.0m	DKK 538.0m

Where each figure comes from

From the annual report Royal Unibrew files every year in the European single electronic format (ESEF). The filing for each fiscal year: 2025 · 2024 · 2023 · 2022 · 2021 · 2020. If an item is not tagged in the filing, it is not in the table. The summary of the last fiscal year is on the Royal Unibrew page.

Information prepared from the accounts the company files with the regulator, for information purposes only. It is not financial advice or a recommendation to buy or sell. Updated on 12 November 2026.