COPENHAGEN (dpa-AFX) - Danish brewer Carlsberg A/S (CABGY.PK) reported Wednesday that its first-quarter consolidated loss attributable to Shareholders was 67 million kroner, compared to profit of 62 million kroner.
Including profit attributable to minority interests, consolidated profit was 62 million Danish kroner, lower than prior year's profit of 180 million kroner.
On an adjusted basis, attributable loss was 50 million kroner, compared to profit of 95 million kroner a year ago.
Loss per share was 0.4 krone, compared to profit of 0.4 krone. Adjusted loss per share 0.3 krone, compared to profit of 0.6 krone. The 2013 numbers have been restated.
Net revenues increased to 12.90 billion kroner from 12.70 billion kroner a year ago. Organic net revenue growth was 3 percent with continued solid market share performance across all three regions.
Total beer sales volume declined to 27.4 million hl from last year's 28.3 million hl.
Operating profit before special items was 453 million kroner, lower than 628 million kroner a year ago, negatively impacted by the translation effect of foreign currencies, especially the Russian rouble, different phasing of unallocated costs, and investments in premium brands in Asia, the company noted.
Looking ahead, the company maintained 2014 outlook of a high single-digit percentage organic operating profit growth. In reported terms, results are expected to be impacted more negatively by currencies than previously anticipated.
The company added that the uncertain macro situation in Eastern Europe is having a further negative impact on the economies and consumer sentiment and consequently, it now assumes that the Russian market will decline mid-single-digit.
Copyright RTT News/dpa-AFX