A new Financial Statements Act has been im- plemented in Denmark with effect from 1 January 2002. This will entail a number of significant chan- ges to the present accounting policies of the Carlsberg Group. As the most significant change, Group goodwill and other intangible assets will be capitalised and amortised. Other changes include capitalisation and depreciation of returnable pack- aging, capitalisation of indirect production costs as well as details on the practices relating to pro- visions for restructuring, etc. The changes in accounting policies involve substantial efforts and completion of the changes is expected by the end of March 2002. Carlsberg will then immediately inform the market of the im- pact on the accounting figures for 2001 resulting from the changes in the policies. The changes in the accounting policies are of a purely technical nature and will have no effect on the companyGLYPH<213>s cash flow/available funds. On 31 May 2000, an agreement was concluded with Orkla ASA regarding the integration of CarlsbergGLYPH<213>s and OrklaGLYPH<213>s beverage activities. Final approval from the competition authorities regar- ding the inclusion of OrklaGLYPH<213>s beverage activities was received on 2 January 2001, and Orkla then contributed its beverage activities into Carlsberg Breweries A/S with effect in the accounts as from 1 January 2001. After the contribution, Carlsberg A/S owns 60% of Carlsberg Breweries A/S while Orkla ASA owns the remaining 40%. OrklaGLYPH<213>s beverage activities consisted of a 50% stake in BBH as well as the 100%-owned AB Pripps Bryggerier in Sweden and Ringnes AS in Norway. In connection with the contribution of OrklaGLYPH<213>s beverage activities and the subsequent merger of Falcon and Pripps Bryggerier into Carlsberg Sveri- ge AB, plans were made for a restructuring of the activities in Sweden. In connection with the mer- On 3 November 2000, CarlsbergGLYPH<213>s acquisition of the largest brewery in Switzerland, FeldschlGLYPH<154>s- schen GetrGLYPH<138>nke Holding AG, was announced. The company was included in the accounts with effect from 1 December 2000. The operations of the company have thus been fully consolidated in 2001 whereas it was included with only one month in 2000. CarlsbergGLYPH<213>s Asian activities were not finally in- cluded in Carlsberg Asia Holding Ltd. due to pen- ding government approvals. The activities inclu- ded in the accounts are based on CarlsbergGLYPH<213>s own companies according to the legal structure in Asia prior to the establishment of Carlsberg Asia (as in 2000). As a consequence of the agreement with Orkla ASA, the Swedish and Norwegian competition authorities required that Carlsberg discontinued bottling, sale and distribution of either Pepsi or Coca-Cola in the Swedish and Norwegian mar- kets. Carlsberg thus disposed of the Coca-Cola companies in Sweden, Norway and Iceland as of 1 January 2001, whereas the Coca-Cola business is continued in Denmark and Finland as 100%- owned activities of Carlsberg Breweries. 2001 saw efforts to integrate these companies into Carlsberg Danmark A/S and the Finnish brewery, Sinebrychoff, respectively. The integration process has been completed in Finland. In Denmark, the integration of distribution has been completed whereas final integration of sale and administration still remains. According to plans, completion of this integration is expected during the spring of 2002. ger it was decided to close down PrippsGLYPH<213> former brewery and warehouse in Gothenburg. The pha- sing out and amalgamation of activities in Pripps Bryggerier and Falcon have characterised most of 2001. Final close-down of the brewery in Gothen- burg will take place in the first half of 2002. Carls- berg Sverige ABGLYPH<213>s activities and results are signifi- cantly affected by this restructuring process. Significant events 67 Financial Review of the Carlsberg Group