Carlsberg 1Q Revenue, Volumes Beat Consensus on Asia Strength -- Earnings Review
28 Aprile 2021 - 12:53PM
Dow Jones News
By Dominic Chopping
Carlsberg A/S reported on its first-quarter trading on
Wednesday. Here's what we watched:
REVENUE: The Copenhagen-based brewer generated revenue of 12.99
billion Danish kroner ($2.11 billion) for the quarter, against
DKK12.86 billion expected in a FactSet poll and compared with
DKK12.95 billion in a year earlier. Carlsberg doesn't disclose any
further financial information in its quarterly trading
statements.
WHAT WE WATCHED:
VOLUMES: Carlsberg said that first-quarter volumes rose to 30.3
million hectoliters from 26.9 million a year earlier, beating a
FactSet forecast of 27.7 million hectoliters.
"The group had a strong start to the year in Asia and Central
and Eastern Europe, while Western Europe was significantly impacted
by the extensive lockdowns and restrictions across the region,"
Chief Executive Cees 't Hart said. "With Covid-19 continuing to be
a challenge in many of our markets, our geographical exposure
showed its strength, as strong volume growth in several markets
across all three regions more than offset challenging circumstances
in other markets," he said.
GUIDANCE: Carlsberg said it now expects to deliver between 5%
and 10% organic growth in operating profit this year, from 3%-10%
previously. The company said it forecasts a negative currency
translation impact on operating profit of around DKK250 million,
from DKK200 million previously.
RETURNS: The brewer proposed a new share-buyback program of up
to DKK1 billion to run until Aug. 13, after completing the first
quarter's DKK750 million program.
Write to Dominic Chopping at dominic.chopping@wsj.com
(END) Dow Jones Newswires
April 28, 2021 06:38 ET (10:38 GMT)
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