Martins, FranciscoMayer, Tomás Vaz Pinto De Lima2022-02-222022-02-222021-06-292021-05-21http://hdl.handle.net/10362/133367This report is part of the valuation of Carlsberg A shares –CARLA DC on Bloomberg and CARLa.CO on Reuters. Throughout this part of the main project, already with a deep understanding of Carlsberg’s positioning in the beer industry, we shifted our focus towards Carlsberg’s financial performance. With these analyses we built the foundations for our final valuation model of Carlsberg A shares. To ensure accuracy and reliability we based our study in the company’s financials, but also industry competitors, financial studies, and our own assumptions. At the end of this part, investors should understand the main financial indicators for Carlsberg, but also final valuation for Carlsberg A shares given three different scenarios.engValuationCarlsbergBeer industryBeveragesCarla dcmaster thesis202769810