Asia lights up Carlsberg’s first quarter results

On 7 May 2013 Carlsberg reported a 22 percent rise in first-quarter operating profits and a 3 percent rise in revenues as strong beer sales in Asia more than compensated for sluggish European markets.

Beer sales in Asia accounted for nearly 20 percent of group revenue in the first quarter ending March, approaching Eastern Europe sales which accounted for 22 percent. The two-digit percentage rise in Asian revenue was helped by higher beer sales in countries such as Vietnam, Cambodia and India, as well as Carlsberg’s increase in ownership at the Chongqing Jianiang Brewery joint venture.

In the first quarter, Carlsberg reported a 4 percent rise in beer volumes overall.

Carlsberg said its market share in Russia, where its brands include market leader Baltika, rose modestly to 38.4 percent from 38.3 percent in the previous quarter. Its market share in the country was 37.6 percent in the first quarter last year.

First-quarter operating profit before one-off items was DKK 661 million (USD 116 million), while revenues were DKK 13.3 billion (EUR 1.78 billion).

The brewer reaffirmed its forecast for operating earnings this year of around DKK 10 billion (EUR 1.34 billion) from DKK 9.8 billion in 2012.