Danish brewer Carlsberg has posted a reported revenue decline of 5% in the first quarter of its financial year, due to a negative currency impact (-5%) and disposals (-2%).
Net revenue of DKK 12.7 billion was up 2% on an organic basis.
The brewer said that its Carlsberg volumes were flat for the period, with Tuborg up 11%, Grimbergen up 12%, and 1664 Blanc seeing a 44% volume increase.
Craft- and specialty-beer volume growth was 30%.
“In the seasonally small first quarter, we delivered 2% organic revenue growth,” commented Carlsberg CEO Cees ’t Hart.
“The Q1 growth in craft & speciality and alcohol-free brews, as well as the broadly based growth in Asia, serve as proof points for our SAIL’22 agenda. Funding the Journey is delivering according to plan, and we’re well on track to deliver on our full-year expectations,” ’t Hart added.
Divisional Performance
The group’s Western Europe division saw net revenue decline by 3% on an organic basis, as a result of a 1% decline in price/mix and total organic volume decline of 2%.
Reported net revenue for the region declined by 8%, the company said, because of last year’s divestment of Nordic Getränke (-3%) and a negative currency impact of 2%, mainly caused by the Swiss, Norwegian, Swedish and UK currencies.
In Eastern Europe, net revenue was down by 3%, with a 6% volume decline partly offset by 3% price/mix. Volumes grew in all markets except for Russia.
In Asia, the business ‘made a strong start to the year’, Carlsberg noted, with net revenue up 16% as a result of a +3% price/mix and total organic volume growth of 12%.
© 2018 European Supermarket Magazine – your source for the latest retail news. Article by Stephen Wynne-Jones. Click subscribe to sign up to ESM: European Supermarket Magazine.
