Danish brewing company Carlsberg has reported net revenue of DKK 16.7 billion in the third quarter of the year, which marks an organic decline of 1%.
Total volume sales were down by 4%, however, the company says that it saw good growth in its international premium brands, such as Tuborg (+5%), Carlsberg (+1%), Grimbergen (+7%), and 1664 Blanc (+42%).
Additionally, volumes of craft and speciality beers rose by 34%, and alcohol-free beer in Western Europe was up by 14%.
“In the third quarter, our premiumisation efforts continued to deliver a solid price/mix development, while volumes, as expected, were impacted by the PET downsizing in Russia, tough comparables in Eastern Europe and poor weather in Western Europe,” said Carlsberg CEO Cees’t Hart.
2017 Outlook
In spite of these results, Carlsberg is anticipating organic operating profit growth of between 7% and 8% for the full year 2017.
"We feel confident about delivering benefits of around DKK 2 billion," added Hart.
"Consequently, we’re able to adjust our earnings outlook upwards."
© 2017 European Supermarket Magazine – your source for the latest retail news. Article by Sarah Harford. Click subscribe to sign up to ESM: The European Supermarket Magazine.
