Carlsberg Second Quarter Sales In Line With Expectations

By Reuters
Carlsberg Second Quarter Sales In Line With Expectations

Danish brewer Carlsberg on Wednesday reported second-quarter sales in line with expectations, supported by its premium brands and growth in Asian markets.

"We're satisfied with this solid set of results, which have been achieved in a challenging environment," outgoing CEO Cees 't Hart said in a statement.

"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," he said.

Profit Guidance

Hart, who took the helm at Carlsberg in 2015, will be replaced by CEO of services provider ISS Jacob Aarup Andersen on Sept. 1.

On Tuesday, Carlsberg lifted its profit guidance for the full year.


Sales in the period rose 4% to 21.4 billion Danish crowns (€2.8 billion) from a year earlier, compared with a 21.5 billion forecast by analysts in a poll provided by Carlsberg.


The company does not provide quarterly profit numbers, but said operating profit before special items in the first six months of the year fell slightly to 6.27 billion (€841 million) from a year earlier, compared with the 6.13 billion (€822 million) forecast by analysts.

The world's third-biggest brewer said on Tuesday it now expects organic operating profit growth this year of between 4% and 7%, versus a previous range of minus 2% to plus 5%.

'Solid Business Performance'

"Based on solid business performance year to date and our expectations for the remainder of the year, we are upgrading our full-year earnings expectations for 2023," the company said in a statement.

The Copenhagen-based company said volumes in the January to June period grew 0.8% organically, while organic sales grew 11%. Organic operating profit grew by 5.2% in the period.

Article by Reuters, additional reporting by Hospitality Ireland.