Carlsberg is looking for acquisitions. Henrik Poulsen, Chairman of the Supervisory Board said, "In these principles, the first priority for capital allocation is to ensure that we always invest sufficiently in the business to ensure long-term growth. The second priority is to ensure a balanced capital structure, where interest-bearing debt maximum constitutes twice the company's earnings before depreciation, interest and tax.

The third priority is to pay out a dividend corresponding to about 50% of the adjusted net profit, as I just mentioned. Finally, the 2 last priorities are to send any surplus liquidity back to the company shareholders in the form of either share buybacks or extraordinary dividends alternatively through value-creating acquisitions".