FDBusiness.com

Carlsberg Sustains Earnings Growth

 Breaking News
  • Mars Wrigley Confectionery Names New Global President Mars, Incorporated has appointed Andrew Clarke, currently Chief Marketing & Customer Officer, to the role of Global President ‐ Mars Wrigley Confectionery. Andrew Clarke will assume his new role in September. He will be based at Mars Wrigley Confectionery’s global headquarters in Chicago, Illinois. Andrew Clarke. Since 2015 Andrew Clarke has been Chief Marketing & Customer Officer. [...]...
  • More Milk Needed to Cover Demand in 2030 – New Technologies Will Help Between now and 2030 worldwide demand growth for milk and milk products will be three times the level of current US milk production. This was one of the main findings of the latest publication, from the IFCN – the Dairy Research Network – discussed at the 19th IFCN Dairy Conference, held at Teagasc, Moorepark, Cork [...]...
  • Danone Early Life Nutrition Launches Category Overhaul Danone Early Life Nutrition is launching a category refresh that spans its leading baby food brands, Cow & Gate and Aptamil. Cow & Gate is launching fifteen new food recipes across the pouch, cereal, jar and tray product ranges, as well as a complete packaging re-brand across its entire formula milk and food portfolio. Starting from mid-June, [...]...
  • Speed Up Poultry Processing – 15,000 bph With Meyn Rising consumer demand for high-protein food and changing customer preferences have spurred the global market for poultry meat. In response to this growing demand, the market has been forced to increase production volumes. This results in longer production days and increased line speeds. Especially greenfield projects, but also existing plants demand the highest possible processing [...]...
  • Mondelēz International Invests $200 Million in Czech Biscuit Plant to Accelerate Growth in Europe Mondelēz International has invested $200 million since 2014 in its Czech Republic-based Opava biscuit manufacturing facility, which employs nearly 1,000 people and produces Power Brands like Oreo, belVita, Milka and Cadbury, for the European market. The investment builds on Opava’s proud heritage of more than a century as a biscuit-making centre and supports the company’s [...]...

Carlsberg Sustains Earnings Growth

Carlsberg Sustains Earnings Growth
August 22
11:08 2013

Despite continuing tough trading conditions in Europe, Carlsberg has achieved 4% organic growth in operating profit to DKr4.1 billion and increased organic net sales by 2% to DKr32.9 billion (Eur4.4 billion) for the first half of 2013. The operating profit growth was driven by double-digit growth in Asia and Eastern Europe. Reported net profit was lower than in the first half of 2012 due to the DKr1.7 billion gain (pre-tax) last year from the sale of theCopenhagenbrewery site.

Carlsberg’s performance was impacted by challenging market conditions across Europe with Russia being affected by outlet closures and Western Europe reflecting tough comparisons with the previous year, which was boosted by the EURO 2012 soccer tournament.

Although Carlsberg’s market share remained flat in Western Europe during the first half of 2013, the brewer managed solid market share improvements in Eastern Europe (+130bp in Russia to 39.2%) and Asia. Organic beer volumes were flat with growth in Asia and Eastern Europe off setting weaker volumes in Western Europe.

The international brands Tuborg and Somersby performed well with volume growth of 12% and 85%, respectively. The Carlsberg brand declined 10% in premium markets due to tough comparisons with last year’s EURO 2012 activities when the brand grew by 13%.

Following a successful go-live of the supply chain integration and business standardisation project (BSP1) in Sweden, Carlsberg is on track preparing for implementation in Norway and the UK.

Jorgen Buhl Rasmussen, chief executive of Carlsberg, comments: “For the first six months, the group achieved earnings growth despite challenging market conditions in Western and Eastern Europe. Our Asian business again delivered impressive volume and earnings growth. On the back of the Q2 results and the start of Q3, we’re on target to deliver on our 2013 expectations.”

He continues: “The ongoing challenging market conditions underpin the importance of our continued efforts to make our business more efficient and the initial results from the implementation of BSP1 in Sweden give us confidence that we’re on the right track. We will, however, also maintain an ambitious commercial agenda with continued investments in our brands and innovations, while constantly upgrading our sales and execution capabilities. These are delivering satisfying market share improvements.”

Despite challenging markets, Carlsberg’s 2013 earnings expectations remain unchanged – operating profit before special items of around DKr10 billion and adjusted net profit to increase by a mid-single-digit percentage.

The costs associated with the roll-out of the integrated supply chain and business standardisation project in Western Europe will impact group operating profit in 2013 by approximately DKr300- 400 million.

About Author

mike

mike

Related Articles



Food & Drink Business Conference & Exhibition 2016

Upcoming Events

  • June 17, 2018The Excellence of Italian Food and Wine (Bellavita Expo)
  • June 25, 2018Packaged., The 7th Global Summit
  • September 5, 2018Int'l Food Products and Processing Technologies Exhibition (WorldFood Istanbul)
  • September 15, 2018iba
AEC v1.0.4

find food jobs

The Magazine

F&D Business Preferred Suppliers

New Subscriber





Subscribe Here



Advertisements