Operating  activities Key developments 2013 66.6 bn Organic net revenue growth  of 1% to DKK 66.6bn. 3.0 bn Free operating cash  flow of DKK 3.0bn.  200 m 5.8 bn Adjusted net profit of  DKK 5.8bn, up 5%. Operating profit before special items of DKK 9.8bn driven  by 5% organic growth. 9.8 bn 5% Free cash flow of DKK  200m impacted by  acquisitions in Asia. Operating profit  is a measure of  our ability to enhance operational  performance through top-line growth  while containing or reducing costs by  working more effectively and efficiently. A strong  free cash flow allows us to return value to shareholders, pay  down debt, reinvest in our business and  engage in value-creating acquisitions in growth markets. 11 10 9 8 7 6 2013 2012 2010 2011 2009 11 10 9 8 7 6 +5% 0% -4% 2013 FX Or ganic A $_{c}$quisitions 2012 +1% +2% -3% 70 65 60 55 50 45 2013 FX Or ganic A $_{c}$quisitions 2012 Operating profit (DKKbn) Operating profit (DKKbn) Net revenue (DKKbn) Consolidated financial statements SECTION 1: OPERATING ACTIVITIES 60 Carlsberg Group Annual Report 2013