LONDON, Feb 6 (Reuters) – Danish brewing giant Carlsberg (CARLb.CO) announced a 6% increase in its annual organic operating profit, meeting the upper end of its guidance, and projected growth of 1% to 5% for the upcoming year.
The company, which ranks as the world’s third-largest brewer behind Anheuser-Busch InBev (ABI.BR) and Heineken (HEIN.AS), also reported revenue for the full year that exceeded expectations. However, its volume growth fell short of analysts’ forecasts.
Known for brands such as Kronenbourg 1664, Tuborg, and Somersby cider, Carlsberg expressed satisfaction with its performance, citing a “challenging environment” in key markets that impacted volume expansion.
Despite facing economic slowdowns, particularly in China—its largest market—Carlsberg reported significant growth in its premium beer portfolio. This performance is expected to reassure investors after a drop in demand for higher-priced labels amid the region’s economic challenges.
Looking ahead to 2025, Carlsberg projected a “relatively stable” consumer environment but highlighted ongoing uncertainty regarding consumer sentiment in both Asia and Europe.
For the year, Carlsberg recorded a 2.8% rise in reported operating profit, totaling 11,411 million Danish Krone ($1.59 billion), slightly missing analysts’ consensus estimate of 11,472 million Danish Krone.
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