DENMARK: Carlsberg H1 profits edge up, but Europe problems persist
- First-half net profits (adjusted) up 4.9% to DKK2.2bn (US$404m)
- Net sales rise 2.5% to DK32.9bn
- H1 operating profits up 1.3% to DKK4.1bn
- Global H1 beer volumes flat; full-year outlook maintained
The brewer has reiterated its FY outlook
Market share gains in Asia and Eastern Europe have helped Carlsberg post a rise in first-half profits but on-going challenges in Western Europe dragged on its performance.
Net profits (adjusted) in the six months to the end of June rose by 4.9% to DKK2.2bn (US$404m), the Copenhagen-headquartered brewer said today (21 August). Net sales in the period were up by 2.5% to DKK32.9bn, while operating profits edged up by 1.3% to DKK4.1bn.
In Q2, net profits (adjusted) fell by 1.4% to DKK2.14bn. Net sales in the three months rose by 1.6% to DKK19.6bn, while operating slipped by 1% to DKK3.44bn.
The company pointed to on-going “challenging market conditions” in Western Europe and Russia and a tough comparison on last year's Q2 which included the European Football Championships.
Group beer volumes were flat. But Carlsberg saw volume growth in Asia and Eastern Europe, which led to market share gains and offset weaker volumes in Western Europe.
Looking ahead, CEO Jørgen Buhl Rasmussen said: “On the back of the Q2 results and the start of Q3, we're on target to deliver on our 2013 expectations.” The company expects FY operating profits, before special items, of around DKK10bn.
Shares in Carlsberg were today trading down by 0.27% at DKK562 at 11.20 CET.
To read the company's full statement, click here
In this, the final part of just-drinks' management briefing for January, Euromonitor takes a look at what the year ahead has in store for the global brewing industry....
Here, courtesy of analysts at Nomura, is a list of the purchases made in the global brewing industry between 1999 and last year, along with the EBITDA multiples paid....
- Aus wine industry pays price for past failures
- What's in store for Super Bowl 50 - Focus
- Six key trends for alcoholic drinks in 2016
- Carlsberg's Q4 & full-year results - Preview
- Ten things to know about spirits in the US
- William Grant & Sons restructures US team
- Diageo completes wine category exit in US
- Beam Suntory targets Kenya with Edrington/FIX
- Diageo's Oban Little Bay single malt Scotch - NPD
- Diageo's Orphan Barrel The Gifted Horse - NPD
- Global travel retail insights - market forecasts, product innovation and consumer trends
- What Next for Beer and Brewers Following the MegaBrew Deal?
- Global Beer Trends 2015 : Global Beer Trends and Long-term Forecasts
- Global Whiskey Market 2016-2020
- Global sparkling wine insights - market forecasts, product innovation and consumer trends research