FX.co ★ Carlsberg Q1 Revenues Rise, Backs FY24 Outlook; To Buy Back DKK 1 Bln Shares

The Danish brewing company Carlsberg A/S reported a revenue increase of 4.4 percent in the first quarter. This growth took the company's earnings from last year's 16.41 billion Danish kroner to 17.13 billion. Organic revenue growth accounted for 6.4 percent of this increase, with a 4 percent growth in revenue per hectolitre; this growth was posted across all three of their operational regions.

There was a 2 percent increase in organic volume growth, with individual growth figures of 0.2 percent, 3.1 percent and 2.2 percent within Western Europe, Asia and Central & Eastern Europe and India (CEEI) respectively.

In terms of Carlsberg's product categories, the premium beer sector saw an 8 percent increase in volume, while the "Beyond Beer" category experienced a 1 percent drop.

Carlsberg also announced the initiation of a quarterly share buy-back programme which will be capped at 1 billion kroner.

Carlsberg's Group CEO, Jacob Aarup-Andersen, commented on these figures, remarking that they began the year with encouraging volume and revenue growth across all their regions. He expressed satisfaction with their premium portfolio's growth and the expanding volume and revenue within the Asian market. These growth factors fall into line with Carlsberg's strategic growth drivers. The performance of the first quarter met the company's expectations, and Carlsberg maintains its full-year earnings outlook.

In light of these factors, Carlsberg predicts an organic operating profit growth of 1 percent to 5 percent for the fiscal year 2024.