Monday, December 4, 2023

Carlsberg Group delivers solid start to the year

One of the world’s leading brewing groups reported organic revenue growth of two per cent, driven by four per cent price/mix, which more than offset the organic total volume decline of two per cent. Reported net revenue was DKK 13kr billion ($2.6 billion).

Commenting on the results, Euromonitor International Alcoholic Drinks Analyst Anna Ward says Carlsberg has focused development on its premium offer in an attempt to protect margins in the face of falling volumes.

“Carlsberg is working to expand the geographic footprint of its eponymous brand,” she said. “This strategy is aimed at tapping into premiumisation trends in many markets across the world and countering the impact of declining volumes in struggling core western European markets.

“In the context of pressures on volumes in core markets and wide-ranging premiumisation trends, Carlsberg is focusing on raising revenue per hectolitre and shifting its offer upmarket. This is involving the geographic expansion of its international premium brands, developing a more upmarket positioning for strong local brands, and investing in value-adding product innovation.”

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