FDBusiness.com

Carlsberg Group Remains on Course

 Breaking News
  • British Brewers Decrease Their CO2 Emissions by 42% Total CO2 emissions from the UK’s brewing industry have fallen by 42% in the last decade (2008 to 2018) – a reduction of 202,952 tonnes – according to new research conducted by the British Beer & Pub Association (BBPA). The research also found that the energy used to brew a pint of beer in the [...]...
  • Small Irish Snack Manufacturer Secures Major Contract With Tesco Pinkfinch, a County Down-based fruit snacks supplier, has secured a major contract with Tesco Ireland, which will see an estimated 100,000 bags sold annually. From launching his business in his parent’s spare bedroom five years ago,  Pinkfinch founder Michael Heaslip (pictured) has grown his innovative product line across Ireland, the UK, Europe, and the Middle East,  with [...]...
  • UK Supermarkets are Struggling to Grow The latest grocery market share figures, published by Kantar, show year-on-year supermarket sales were flat during the 12 weeks to 11 August 2019 as the tough comparisons with 2018’s strong summer continue. The memory of last year still looms large for retailers and this summer’s comparatively poor weather, combined with low levels of like-for-like price [...]...
  • Tickets Still Available For 2019 Irish Food & Drink Business Awards Some tickets are still available for the 2019 Irish Food & Drink Business Awards presentation ceremony and gala dinner to be held at the Citywest Hotel in Dublin on the evening of Thursday, 5 September 2019. The winners of the 2019 Awards will be named at the event. The prestigious awards programme, which was first introduced [...]...
  • Nestlé UK Launches New On-trend Flavours Nestlé has introduced two new on-trend flavours to its much-loved Munchies brand in the UK and Ireland. Available in 101g sharing bags, new Munchies Chocolate Fudge Brownie and Munchies Cookie Dough are the first new Munchies products since 1996. The new flavours were created at Nestlé’s confectionery sites in York and Fawdon, Newcastle. Munchies Brand Manager [...]...

Carlsberg Group Remains on Course

Carlsberg Group Remains on Course
August 17
10:07 2017

Carlsberg Group has announced organic and reported net revenue growth of 2% to DKr31.77 billion (€4.27 billion) for the first half of 2017 although group beer volumes fell organically by 3%, chiefly due to a decline in Russia. Operating profit was up 15% organically, with all three regions – Western Europe, Eastern Europe and Asia – delivering double-digit growth. Reported operating profit was DKr4.13 billion, corresponding to a growth rate of 20%, as the positive currency impact from Russia and some Asian countries more than offset the small negative scope impact from divestment of businesses. The operating margin improved by 200bp to 13.0%.

Carlsberg Group continues to make steady progress in executing its ‘Funding the Journey’ cost saving and profit improvement programme while implementing its new ‘SAIL 22’ growth strategy, as the Danish brewer strives to consolidate its position in developed markets in Western Europe, improve profitability in Eastern Europe and to expand in emerging markets.

Funding the Journey is progressing as expected, and Carlsberg Group is on track to deliver a large proportion of the expected total net benefits of DKr1.5-2.0 billion this year and the full net benefits in 2018.

The group is also delivered according to plan on its regional financial priorities for 2017. In Western Europe, the operating margin improved by 160bp to 12.5% and organic operating profit grew by 14%. The Asia region delivered organic revenue growth of 6% because of a strong price/mix. Organic operating profit growth was 12%. The Eastern Europe business delivered 17% organic operating profit growth and an operating margin improvement of 320bp despite challenging market conditions.

Cees ’t Hart, chief executive of Carlsberg Group, says: “We delivered a strong set of results for the first half-year, improving earnings and cash flow and reducing leverage. The results show that we’re well on track to deliver on our key priorities for this year: achieving a substantial proportion of the remaining Funding the Journey benefits, enabling investments in SAIL’22-related activities to grow the top-line in the future. Funding the Journey is now well established and being embedded as normal procedure across our markets and functions.”

He adds: “Our strong financial results enable us to accelerate our investments in the SAIL’22 priorities to drive sustainable long-term growth of the Carlsberg Group. The growth of Tuborg in Asia, the expansion of Grimbergen and the further development of our fruitful co-operation with Brooklyn serve as excellent examples of SAIL’22 at this point in time.”

Carlsberg Group is maintaining its financial expectations for 2017 for did-single-digit percentage organic growth in operating profit and financial leverage reduction.

About Author

mike

mike

Related Articles

Food & Drink Business Conference & Exhibition 2016

Upcoming Events

  • September 11, 2019Packaging Innovations & Luxury Packaging London 2019
  • October 1, 2019PPMA Total Show
  • October 17, 2019Future Food-Tech
  • November 18, 2019Plastics Caps and Closures Conference 2019
AEC v1.0.4

find food jobs

The Magazine

F&D Business Preferred Suppliers

New Subscriber

Subscribe Here



Advertisements