Carlsberg:Q3 sales edge up but miss forecasts
(CercleFinance.com) - Carlsberg reports a 0.
9% increase in Q3 sales to 20.5bn DKK, slightly below expectations.
9m sales rose 2% to 59.2bn DKK.
Q3 sales were impacted by an unfavourable currency effect of -0.6% (9m: -1.3%), mainly related to Asian currencies, partially offset by a net acquisition effect of +0.2% (9m: +0.3%).
The Danish brewer reports that its volumes increased by almost 20% in markets where the brand is positioned in the premium segment, such as China, India, Ukraine and Kazakhstan, while total brand volume grew by 11%.
This was a difficult quarter, marked by a demanding consumer environment and unfavorable weather conditions. Nevertheless, we achieved volume and sales growth in the majority of our markets, although weaker volumes in China, France and the UK affected the Group's overall performance, management commented.
Regarding its FY outlook, Carlsberg is targeting 4%-6% organic growth in operating profit before exceptional items.
Copyright (c) 2024 CercleFinance.com. All rights reserved.
9% increase in Q3 sales to 20.5bn DKK, slightly below expectations.
9m sales rose 2% to 59.2bn DKK.
Q3 sales were impacted by an unfavourable currency effect of -0.6% (9m: -1.3%), mainly related to Asian currencies, partially offset by a net acquisition effect of +0.2% (9m: +0.3%).
The Danish brewer reports that its volumes increased by almost 20% in markets where the brand is positioned in the premium segment, such as China, India, Ukraine and Kazakhstan, while total brand volume grew by 11%.
This was a difficult quarter, marked by a demanding consumer environment and unfavorable weather conditions. Nevertheless, we achieved volume and sales growth in the majority of our markets, although weaker volumes in China, France and the UK affected the Group's overall performance, management commented.
Regarding its FY outlook, Carlsberg is targeting 4%-6% organic growth in operating profit before exceptional items.
Copyright (c) 2024 CercleFinance.com. All rights reserved.