GLOBAL: Carlsberg positive over Asia as FY profits rise

• Full-year net profits up by 5.8% to DKK5.5bn (US$984.3m)
• Net sales in 2012 rise by 5.7% to DKK67.2bn
• Operating profits drop by 0.2% to DKK9.8bn
• Key Russian beer market “flat”, but Asian markets growing

Carlsberg has said its key market of Russia was “flat” in 2012 but the group saw strong volume gains in Asia as it reported a rise in full-year net profits and sales.  

In the 12 months to the end of December, group net profits rose by 5.8% to DKK5.5bn (US$984.3m), the Danish brewer said today (18 February). Sales in the period were up by 5.7% to DKK67.2bn.

Operating profits for the full-year came in flat at DKK9.8bn.

In Q4, Carlsberg reported net profits of DKK192m, following a loss of DKK85m the prior year. Sales in the three months to the end of December were up by 7.3% to DKK15.9bn, while operating profits rose by 17.3% to DKK2.2bn.

For the full-year, group organic beer volumes were “flat”. In Western Europe operating profits fell by 5% in the year, Russia was “flat” and Asia beer markets “continued to grow”, the company said.

CEO Jørgen Buhl Rasmussen said: “The group delivered a good performance in 2012, despite a challenging Western European beer market. The commercial and organisational changes implemented in Russia are bearing fruit, and in Asia we continue to deliver impressive growth and strengthen our market positions.”

Looking ahead, Rasmussen said the group will “look to capitalise on the attractive growth opportunities” in Asia and across Western Europe a ”supply chain integration and business standardisation project” will be a key priority in 2013.

Shares in the group were down this morning by 6.14% at DKK565.5.

For an in-depth look at Carlsberg's regional performance last year, click here.

For just-drinks' coverage of the firm's analyst call, click here.

For the group's official announcement, click here.