Revenue and distribution of funds



The total amount of the Carlsberg Foundation’s annual funding for grants depends on the dividends on the foundation’s shares in Carlsberg A/S. This is supplemented with revenue from other financial activities, which are affected by the global economy and its impact on the financial markets.

In accordance with its charter, the Carlsberg Foundation’s shareholding in Carlsberg A/S is set aside to hedge the contributed capital.

In the Carlsberg Foundation’s financial statements, the shareholding is stated at market value. Adjustments to the market value are made directly in equity, which means they do not affect our annual income statement.

Other assets

In addition to the shareholding in Carlsberg A/S, the Carlsberg Foundation’s assets comprise a portfolio of properties and securities, the return on which also contributes to our revenue.

The chart shows the general flow of revenue, costs and distribution of funds for the purposes set out in the charter for 2023.