World: Carlsberg sees decline in underlying sales and volumes in Q3

Carlsberg has reported a decline in underlying sales and volumes for the third quarter from a year earlier, citing a challenging consumer environment, and said it was taking steps to cut costs, European Supermarket Magazine reported on October 30.

The Danish brewer, the world's third-largest after Anheuser-Busch InBev and Heineken, posted a 1.4% drop in organic sales - excluding acquisitions - and a 3% decline in organic volumes.

Total sales in the third quarter rose 18% to DKK 24.14 billion ($3.77 billion), slightly below analysts' average forecast of DKK 24.21 billion crowns.

The sales growth was attributed to the acquisition of British soft drinks maker Britvic in January.

However, reduced consumer spending, US tariffs, and geopolitical uncertainty have weighed on demand for premium and low-alcohol beer, key areas of focus for large brewers.

"We achieved solid underlying volume and revenue growth in Western Europe and saw sequential improvement in Asia, supported by strong performance of our premium portfolio in most markets," CEO Jacob Aarup-Andersen said in a statement.

Carlsberg maintained its forecast for organic operating profit growth of 3-5% for the full year, exceeding last year's 2.4% but short of its 4-6% target.

Aarup-Andersen, who became CEO in 2023, noted that consumer sentiment remained subdued across markets and said the company had taken steps to adjust its cost base since early summer.