Carlsberg delivered a solid set of results with continued strong Asia and premium performance.
Organic volume growth 0.8%
Organic revenue growth 11.2%
Organic operating profit growth 5.2%
Total share buy-back and dividend payment of DKK 5.0bn
On 15 August, we upgraded our earnings expectations for 2023. The upgrade was due to the continued solid business performance year to date and based on our expectations for the remainder of the year:
CEO Cees ’t Hart says:
“We’re satisfied with this solid set of results, which have been achieved in a challenging environment. This is the first year of executing our new strategy, SAIL’27, and we continued to invest in long-term health and growth opportunities despite significant inflation in our cost base. The strategic health of our business continues to improve, as seen from the growth of our international premium brands and continued growth in key markets in Asia.
“Thanks to the results for the first half year, we were able to upgrade our earnings expectations yesterday, and we’re today initiating a new DKK 1bn share buy-back.
“In June, we were pleased to announce the sale of the Russian business. However, shortly afterwards, we were shocked that a presidential decree had temporarily transferred management of the business to a Russian federal agency. We’re assessing the situation and the legal consequences of this highly unexpected move and will seek to protect our assets and the value of the business.
“After eight eventful years, this is my last results announcement as CEO of the Carlsberg Group. We’re very proud of the results that we as a team have achieved, including in the turbulent times of the last few years. The long-term opportunities for Carlsberg remain significant, and I’m confident that the new CEO, Jacob Aarup-Andersen, the leadership team and our many dedicated employees will continue the value creation journey.”
Get the 2023 H1 highlights from our CFO Ulrica Fearn: