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Drinks

Carlsberg Sees Revenue Up In H1, But Volumes Still Down In Some Markets

By Steve Wynne-Jones
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Carlsberg Sees Revenue Up In H1, But Volumes Still Down In Some Markets

Brewer Carlsberg has reported a 11.2% increase in revenue in the first half of its financial year, however volumes were still down in its Western Europe (-2.1%) and Central & Eastern Europe (-1.9%) markets.

Volumes were up by 4.8% in Asia however, which lifted the overall organic volume growth for the period to 0.8%, the Danish firm added.

The group reported volume growth across its premium beer portfolio, with Tuborg up 3%, Carlsberg up 1%, 1664 Blanc rising by 5% and Brooklyn up 52%. Somersby cider fell by 7% in volume terms.

Earlier this week, Carlsberg said that it was updating its profit expectations for the full year.

'Challenging Environment'

“We’re satisfied with this solid set of results, which have been achieved in a challenging environment," commented CEO Cees ’t Hart, for whom this will be the last set of results before he steps down in
September.

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"The strategic health of our business continues to improve, as seen from the growth of our international premium brands and continued growth in key markets in Asia."

Revenue growth was reported in all regions, Western Europe (+9.2%), Asia (+11.7%) and Central & Eastern Europe (+16.3%), while the business reported organic operating profit growth of 5.2%.

Operating profit growth reflected 'strong revenue growth, partly offset by cost inflation and higher sales and marketing investments', Carlsberg said.

'Long-Term Opportunities'

"We’re very proud of the results that we as a team have achieved, including in the turbulent times of the last few years," ’t Hart added. "The long-term opportunities for Carlsberg remain significant, and I’m confident that the new CEO, Jacob Aarup-Andersen, the leadership team and our many dedicated employees will continue the value creation journey.”

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