COPENHAGEN (dpa-AFX) - Carlsberg (CABGY.PK) reported an organic operating profit growth of 15.6%, and an organic revenue growth of 9.6% for the first half of 2021. In light of the results and the start of third quarter, the company upgraded the earnings guidance for 2021.
First-half reported net profit was up by 6.0% to 3.03 billion Danish kroner. Reported earnings per share (excluding treasury shares) grew by 7.7% to 20.9 kroner. Reported operating profit improved 10.7% to 5.11 billion kroner. Adjusted net profit increased by 10.3% to 3.17 billion kroner. Adjusted earnings per share (excluding treasury shares) were 21.9 kroner compared to 19.5 kroner.
First-half revenue increased to 31.69 billion Danish kroner from 28.83 billion kroner, prior year. Revenue/hl was flat, resulting in organic revenue growth of 9.6%. Reported revenue grew by 9.9%, impacted positively by the acquisitions of Wernesgrüner in Germany and Marston's brewing activities in the UK. Beer volumes grew organically by 9.3% driven by solid growth in Asia and Central & Eastern Europe, and supported by easy comparables.
For 2021, the company now expects; an organic growth in operating profit within the range of 8-11%, revised from prior guidance of 5-10%.
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