5/9/2012 7:00 


First quarter in line with expectations 


Financial highlights

  • Organic beer volume growth of 2% adjusted for Russian destocking.
  • Solid growth in Northern & Western Europe and strong performance in Asia.
  • Net revenue of DKK 12.9bn with flat organic development due to Russian destocking.
  • Organic operating profit growth in Northern & Western Europe and Asia.
  • Operating profit of DKK 574m impacted by lower Russian volumes/destocking and phasing of sales and marketing investments.
  • 2012 outlook maintained..

Operational highlights

  • Market share improvements in Northern & Western Europe and Asia.
  • Russian market share (37.0%) improved slightly versus Q4 in flat market.
  • 6% Carlsberg brand growth in premium markets; substantial activations ahead of EURO 2012.
  • As part of the ongoing global rejuvenation of Tuborg brand, Tuborg enters Chinese market.
  • Baltika Breweries filed application for delisting from the Russian stock exchange.
  • Consortium established to develop the Valby site, Copenhagen.

Commenting on the results, CEO Jørgen Buhl Rasmussen says: “In the traditionally small first quarter of the year, the Group delivered continued solid growth and performance in Northern & Western Europe and Asia, while destocking impacted our Russian results as expected. Our Q1 results were in line with our plans and we are on track to meet our 2012 expectations.”

Jørgen Buhl Rasmussen continues: “2012 is a year where focus, prioritisation and efficiency are key in everything we do. We are focusing our commercial activities behind our most important brands and events. We are putting significant resources behind the EURO 2012 sponsorship, which will be a key driver behind the support of the repositioning and the growth of the Carlsberg brand in 2012. In addition, the rejuvenation of the Tuborg brand will support the brand growth through improved performance in existing markets, as well as through introductions into new growth markets such as China.” 


Download the full announcement in the right column. 



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