Carlsberg's turnover increases despite lower volumes

In the first half of the year, Danish beer brewer Carlsberg saw its turnover grow 2 % to 31.8 billion krona (4.3 billion euro). The improves sales for its more expensive beers, like Belgian Grimbergen, contributed to this turnover increase.

Weak Russian performance

Grimbergen’s turnover, partially owned by Carlsberg, grew 23 % in the first half of 2017. Craftberg’s craft beer grew 25 % on average in 2017’s first two quarters. The improved sales were welcome news for Carlsberg, because its total volumes dropped 2 % i the first half of 2017, particularly because of a sizeable drop in Russia. The European Championship football in France last year also tilted volumes in last year’s advantage. Lower volumes were countered by higher prices, advantageous exchange rates and cost-cutting measures.

Meanwhile, Carlsberg’s reported net profit grew 23 % to 2.3 billion krona (300 million euro). “We delivered a strong set of results for the first half-year. […] The results show that we’re well on track to deliver on our key priorities for this year”, CEO Cees ‘t Hart said.