CABGY Carlsburg AS (PK)

By Dominic Chopping

Carlsberg AS on Friday raised its dividend and launched another share buyback program but cautioned that price rises to counter higher costs could hurt beer volumes this year.

The Copenhagen-based brewer said 2022 will be another challenging year, with Covid-19 expected to continue to hit its markets to various degrees.

At the same time, Carlsberg will be hit by substantial increases in input costs, which it aims to offset in absolute terms through higher revenue per hectoliter and continued tight focus on costs, it said.

The higher revenue per hectoliter may hurt beer consumption, and as a result it sees 2022 organic operating profit growth of 0%-7%.

The company reported fourth-quarter revenue of 15.21 billion Danish kroner ($2.34 billion), beating the DKK14.57 billion expected by a FactSet consensus.

Full-year net profit rose 14% to DKK6.85 billion on revenue of DKK66.63 billion. A company-compiled consensus saw full-year net profit of DKK6.82 billion on revenue of DKK66.21 billion.

The company declared a dividend of DKK24 compared withDKK22 in 2020, and said it will execute quarterly share buyback programs, launching the first DKK1 billion program Friday.

Write to Dominic Chopping at dominic.chopping@wsj.com

(END) Dow Jones Newswires

February 04, 2022 03:06 ET (08:06 GMT)

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