Carlsberg Sees Revenue Growth Of 9.0% In Q3, Boosted By Good Weather
A pleasant summer across Europe helped boost sales at Carlsberg Group in Q3, with the brewer posting organic revenue growth of 9.0% for the period.
Reported net revenue for the quarter was DKK 17.6 billon (€2.36 billion), with the business seeing most of its major brands post volume growth: Tuborg was up 11%, Carlsberg up 9%, Grimbergen rose by 15% and 1664 Blanc was up 49%.
In addition, its Craft & Speciality beer division saw volume growth of 29%, while its alcohol-free portfolio posted volume growth in Western Europe of 58%.
“We delivered a strong third quarter with all regions performing very well," commented CEO Cees ’t Hart.
"Our craft & speciality portfolio and alcohol-free brews continued their good momentum, and in Asia Tuborg, Carlsberg and 1664 Blanc delivered strong growth rates. Results in the quarter were further boosted by the very good weather in Western Europe."
Net revenue in Western Europe grew by 8.5% in organic terms in the quarter, with the business posting a 'particularly strong performance' in the Nordics, France, Poland and the Baltics.
'Several markets in the northern part of the region benefited from the warm summer in addition to cycling easy comparables due to last year’s poor summer,' the group said.
In Asia, meanwhile, net revenue was up 11.0%, while in Eastern Europe, net revenue rose by 8.2%.
“We’re pleased that last week we were able to increase our full-year earnings expectations, and we feel confident that 2018 will show solid top-line growth, margin improvement and a healthy cash flow, whilst we have invested significant funds in our strategic priorities to drive the long-term growth of our business," ’t Hart. added.
© 2018 European Supermarket Magazine – your source for the latest retail news. Article by Stephen Wynne-Jones. Click subscribe to sign up to ESM: The European Supermarket Magazine.