Vietnam: Carlsberg sees both revenue and sales volume flat in 2024

Both revenues and sales volume of Carlsberg in the Vietnamese market were flat last year compared to 2023, the Danish brewer said in its 2024 performance review, The Investor reported on February 10.

The company stated that its performance was driven by the premium portfolio with a volume growth of 21%. Its major premium products feature Tuborg, 1664 Blanc, Carlsberg, and Somersby.

The brand’s expansion was beyond its stronghold of central Vietnam, the brewer noted.

Huda as its mainstream brand declined slightly due to a challenging fourth quarter, particularly because of bad weather and weak consumer offtake, it stressed.

Overall, Carlsberg said it remained the fourth-biggest beer business in Vietnam. “Vietnam is a key volume and value growth market” in the Accelerate SAIL strategy, the firm emphasized.

In Asia, Carlsberg highlighted China and Hong Kong SAR as its biggest market, accounting for 67% of the consumed volume in the region. Vietnam, Laos, and Cambodia came in the second rank with 30%, followed by Malaysia and Singapore with 3%.

Carlsberg is seeking permission to raise the capacity of its Hue factory in Vietnam’s central city of Hue from 360 million to 600 million litres, or up 67%. The company plans to complete the expansion in the first quarter of this year. The higher production aims to serve the Vietnamese and export markets.

The factory was enlarged to 360 million litres a year in 2018. It now features two production lines for bottles, two for cans, and one for kegs. For the changes, the Danish brewer aims to replace one canned beer line of 48,000 per hour with one of 120,000 cans per hour.

Per the move, Carlsberg’s total investment in the factory in Hue city will go up to $168.7 million.

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