just the Preview - Carlsberg's Q3 & YTD

Carlsberg will report its third-quarter and year-to-date results on Wednesday (7 November). Here, just-drinks takes a look at the highs and lows for the brewer in the three months to the end of September and its performance in recent quarters.

• just-drinks delivered an exclusive in early-July, when we reported that Carlsberg's Swedish division had lined up the launch of a "craft-style lager". Lawn Mower, which has been developed by Carlsberg's brewers at the Falcon Brewery in Falkenberg, launched in the country last month and signalled Carlsberg's first move into the craft beer arena.
• The figures set to be released next week will hopefully have benefitted from the much-vaunted turnaround of Carlsberg's Russian division, Baltika Breweries. The company's H1 performance saw green shoots appear, as Baltika increased its market share for the first time in a while. However, restrictions on beer advertising, introduced in July, put another hurdle in Baltika's path. But, in September, the brewer hosted analysts and media in the country and maintained that it is back on track.
• At the same presentation, in St Petersburg, CEO Joergen Buhl Rasmussen emphasised that Carlsberg will not be following the likes of Heineken and SABMiller into Africa, and Anheuser-Busch InBev and SABMiller into Latin America. “Being in Africa in one way would be nice,” said Buhl Rasmussen. “Africa can offer a lot of growth, but it also offers risk and volatility. “I don't think we need to go into Africa or Latin America to create the ideal profile for Carlsberg. You can't get it all – you cannot get a lot of predictability and then ask us to go into fast-growing regions like Africa, where you get risk.”
• Carlsberg rounded off the third quarter with the news in late-September that it has set up a joint-venture in Thailand with Singha Corporation. The tie-up sees Singha take responsibility for marketing and sales as well as distribution of Carlsberg brands in Thailand, while Carlsberg will export the Singha beer brand through its international distribution network.

In Carlsberg's H1,

• Net profits jumped by 43.2% to DKK3.6bn (US$595.5m)
• Net sales edged up by 3.8% to DKK32.5bn
• Operating profits slipped by 13.9% to DKK4.05bn

For the company's Q2,

• Net profits increased by 58% to DKK3.5bn
• Net sales rose by 4.5% to DKK19.6bn
• Operating profits fell by 6% to 3.5bn

In its Q1,

• Net losses hit DKK76m versus profits of DKK173m a year earlier
• Net sales rose by 2.8% to DKK12.87bn
• Operating profits were down by 43% at DKK574bn