Russia spoils results

Carlsberg saw a drop in volumes of 7 percent during the first quarter of 2010 to 21 million hl, brought on by a steep decline in eastern Europe. While volume increased 3 percent in northern and western Europe, and 16 percent in Asia, excluding acquisitions, this could not fully offset an organic 27 percent drop in the brewer’s eastern European unit, which includes Ukraine, Kazakhstan and Uzbekistan, it was reported.

Last year, Carlsberg earned 52 percent of its EBIT in eastern Europe.

Based on the Russian market dynamics in the first quarter, Carlsberg maintains its expectations that the Russian beer market will decline by low double-digit percentages in 2010. Carlsberg still anticipates outperforming the market.