Danish brewer Carlsberg has increased its revenue by 17.4% year-on-year in the first quarter, but the figure was below analysts’ expectations.
The company said its revenue in the January-March quarter was 20.123bn kroner ($3.07bn), compared with 17.142bn kroner for the same quarter in 2024.
Analysts’ consensus forecast from the company itself called for revenue of 20.4bn kroner.
Carlsberg’s revenue in Western Europe jumped 31 per cent last quarter, thanks in part to the acquisition of British soft drinks maker Britvic earlier this year, the report said.
Meanwhile, in organic terms, revenue declined 1.5%. In Central and Eastern Europe, the figure was up 0.1%, in Asia it was down 0.4%, and in Western Europe it was down 2.9%.
Tuborg beer sales in volume terms were up 3%, Carlsberg up 1% and Brooklyn up 10%. Sales of 1664 Blanc were down 2%. Non-alcoholic beer sales were up 15%.
The company reaffirmed its 2025 outlook, which assumes organic operating profit growth of 1-5%.