World: Carlsberg reports strong first quarter results

Danish brewer Carlsberg A/S reported strong first quarter results on April 30, with revenue growing by 4.4% year-over-year.

First-quarter revenue increased to 17.13 billion Danish kroner ($2.46 billion) from last year's 16.41 billion kroner.

Organic revenue growth was 6.4% and revenue per hectolitre growth was 4%, with positive contributions from all three regions.

Organic volume growth was 2% in the quarter, with growth of 0.2% in Western Europe, 3.1% in Asia and 2.2% in Central and Eastern Europe and India (CEEI).

Total premium beer category volume grew by 8%, while the company's Beyond Beer portfolio fell by 1%.

Carlsberg further announced the launch of a new quarterly share buy-back programme, amounting to 1 billion kroner.

Group chief executive Jacob Aarup-Andersen said the company "had a solid start to the year with volume and revenue growth in all three regions."

"We're particularly satisfied with the growth of our premium portfolio and the volume and revenue growth in Asia, both of which are important strategic growth drivers for the group. Q1 performance was in line with expectations, and we maintain our full-year earnings outlook," he added.

For fiscal 2024, the company continues to expect organic operating profit growth of 1% to 5%.

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