COPENHAGEN (dpa-AFX) - Danish brewer Carlsberg (CABGY.PK) reported Wednesday that its first-quarter revenues edged up 0.4 percent from last year to 13.0 billion Danish kroner, reflecting 2.1 percent increase on acquisitions and 5.5 percent drop on currencies.
Organic revenue growth was 3.8 percent. A 14.9 percent decline in Western Europe was offset by 30.4 percent rise in Asia and 3.1 percent growth in Central & Eastern Europe.
Total volume climbed 12.8 percent on a reported basis, while organic volume growth was 11.5 percent.
Revenue/hl was down organically by 7 percent, impacted by channel and country mix.
Further, the company said it launch the second quarterly share buy-back programme today, amounting to 1 billion kroner.
Looking ahead, the company raised the bottom end of the range in earnings expectations for 2021 citing the good start to the year, even as uncertainty remains high.
Organic growth in operating profit is now expected within the range of 5 percent to 10 percent, compared to previously expected 3 percent to 10 percent.
CEO Cees 't Hart said, 'The Group had a strong start to the year in Asia and Central & Eastern Europe, while Western Europe was significantly impacted by the extensive lockdowns and restrictions across the region. With COVID-19 continuing to be a challenge in many of our markets, our geographical exposure showed its strength, as strong volume growth in several markets across all three regions more than offset challenging circumstances in other markets.'
Copyright RTT News/dpa-AFX
CARLSBERG-Aktie komplett kostenlos handeln - auf Smartbroker.de