just the Preview – Carlsberg’s Q2 and H1
Carlsberg will release its H1 results tomorrow
Carlsberg is set to announce its first-half results tomorrow (17 August). Below, we take a look at the highs and lows for the firm in the three months to the end of June.
- The quarter started awkwardly for Carlsberg, with around 250 employees in Denmark downing tools in protest at a change in access to beer. Thankfully for the brewer, the strike came to an end towards the middle of the month.
- A major contributor to Carlsberg's performance is its Russia and Eastern Europe unit, Baltic Beverages Holding. In April, the head of BBH's Baltika Breweries in Russia said he believed the unit is “fit to face any challenge” in the country. Russia has proved colourful for brewers this year, with rising taxes and tougher regulations providing obstacles in the first half.
- Then, in May, the company confirmed a change of CEO for its German subsidiary. Frank Massen took the place of Wolfgang Burgard, who will remain on the board of the Carlsberg Deutschland business.
- Later in the month, Carlsberg announced that it will be the official beer sponsor of the next UEFA European Championship football tournament in 2012. The event, which will be held in Poland and Ukraine, marks Carlsberg's seventh consecutive Euro championship as a sponsor.
- Finally, in June, Carlsberg moved to up its stake in China's Chongqing Brewery Co, when it proposed spending RMB2.4bn (US$351m) on acquiring a further 12.25% of the company. Employee representatives at Carlsberg approved the purchase late last month.
For Carlsberg’s Q1 results, click here.
One of the first signs of madness, I was always told, is talking to yourself. If that's the case, then Larry Nelson may have finally lost it. Before we cart him off, though, let's listen in on his and...
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