Carlsberg’s Q3 & YTD – just The Preview

Carlsberg will release its Q3 and year-to-date results on Wednesday (11 November). Here, just-drinks takes a look at the company's highs and lows in the three months to the end of September:

• In July, Carlsberg rolled out a TV commercial in the UK to celebrate the start of the football season
• Then in August, the company released its H1 & Q2 results, saying it expected its bottom line to "decline slightly" in the full-year after posting a near-12% slide in operating profits in the first half of 2015. We also took a closer look at these results, by region
• Following the results, analysts asked if Carlsberg's new CEO Cees 't Hart could weather the storm, as Eastern Europe continued to drag 
• In the same week, CFO Jørn Jensen told analysts and journalists on a conference call that the company was "a little more negative" when it came to Russian consumers
• In late August, the Union of Russian Brewers, which represents companies including Heineken and Carlsberg, said its members will voluntarily discontinue a 1.5 litre bottle size from 1 July 2016
• Then in mid-September, the CFO of Carlsberg, Jørn Jensen, announced he was to leave the company
• And towards the end of the month, Carlsberg declined to comment on a report it had held talks over selling its UK unit to C&C Group
• At the end of September, Carlsberg's Russia woes threatened to disrupt its UK brewery as staff angered over a pay freeze prepared to take industrial action

H1 & Q2 highlights

• Half-year net profits slide by 30.2% to DKK1.5bn (US$222.3m)
• Sales in first six months of 2015 inch up by 1% to DKK32.40bn
• Operating profits down by 11.6% to DKK3.58bn
• Beer volumes dip by 2.3% to 66.1m hectolitres
• Second quarter net profits fall by 28.3% to DKK1.59bn
• Sales in three months to end of June slip by 1.2% to DKK18.93bn
• Operating profits decrease by 18.9% to DKK2.92bn
• Beer volumes down by 4.2% to 38.6m hectolitres

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