Copenhagen, August 13 – Danish brewer Carlsberg raised its full-year profit growth forecast on Tuesday, despite reporting weaker-than-expected sales in the second quarter. The announcement was made following a report by Reuters, as noted by FFN.
Carlsberg’s revenue for the April to June 2024 period increased to 21.64 billion Danish kroner (approximately €2.90 billion) from 21.38 billion DKK in the same period the previous year. However, this figure fell short of analysts’ expectations, who had predicted revenue of 22.1 billion DKK.
The Danish brewing group now anticipates organic operating profit growth for the entire year to be between 4% and 6%, up from the previous forecast of 1% to 5%.
“Due to continued strong performance and good cost control, we are raising our profit estimates for this year, even though second-quarter sales were impacted by poor weather and weak consumer sentiment in some Asian markets,” said CEO Jacob Aarup-Andersen in a statement.
(1 EUR = 7.4621 DKK)
Tables: Key Financial Indicators for Carlsberg in Q2 2024
Revenue Performance
| Indicator | Q2 2024 | Q2 2023 | Analyst Expectation |
|---|---|---|---|
| Revenue | 21.64 billion DKK | 21.38 billion DKK | 22.1 billion DKK |
| Revenue in EUR | €2.90 billion | €2.86 billion | N/A |
Full-Year 2024 Profit Forecast
| Indicator | Previous Forecast | Revised Forecast |
|---|---|---|
| Organic Operating Profit Growth | 1% to 5% | 4% to 6% |
