COPENHAGEN (dpa-AFX) - Danish brewer Carlsberg (CABGY.PK) reported Thursday that its third-quarter net revenue increased 5.3 percent to 18.53 billion Danish kroner from last year's 17.59 billion kroner. The revenue growth was impacted by a currency effect of +1.8 percent and +0.4 percent from acquisitions.
The company delivered organic revenue growth of 3.1 percent in the quarter, driven by price/mix of +4 percent. Total organic volume growth was -0.5 percent. Total volumes were flat in reported terms.
Net revenue in Western Europe rose 0.2 percent on both a reported basis and organic basis to 10.20 billion kroner. Eastern Europe revenues rose 3.7 percent on reported terms to 3.27 billion kroner, but declined 2.3 percent organically.
Asian revenues were 5.03 billion kroner, up 18.7 percent, and the growth was 14.2 percent organically.
The company noted that the craft & speciality category delivered 12 percent growth in the quarter.
Alcohol-free brew volume development was -4 percent, with continued solid growth of 7 percent in the Western European markets offset by a slight market decline and market share loss in Russia as well as lower sales in a few export markets.
Tuborg volumes grew by 5 percent, driven by growth in several markets, including China, India, Serbia and Norway, as well as licence volumes in Turkey.
The Carlsberg brand volumes were impacted by tough comparables in Western Europe, not least in the UK. Excluding the UK, Carlsberg brand volumes grew by 3 percent.
Looking ahead to fiscal 2019, Carlsberg expects to deliver around 10 percent organic growth in operating profit, unchanged from the announcement on October 28.
Copyright RTT News/dpa-AFX