Carlsberg Q3 Revenue Rises 17.8% on Britvic Acquisition Amid Challenging Market

Carlsberg reported a 17.8% increase in Q3 2025 revenue to DKK 24.1 billion, largely driven by acquisitions including Britvic, which contributed significantly to volume and revenue growth. However, organic revenue declined by 1.4% and volumes fell 3% organically, reflecting ongoing consumer weakness across global markets and challenging economic conditions. Despite these pressures, the company saw a 2% increase in revenue per hectoliter and a 5% growth in its premium portfolio, with market share gains in key regions like China and the U.K. Carlsberg confirmed its full-year outlook of 3%-5% organic growth in operating profit before exceptional items, indicating confidence in its strategic positioning. Shares declined about 1% following the announcement, signaling investor caution amid mixed performance metrics. CEO Jacob Aarup-Andersen expressed satisfaction with the company's ability to navigate a difficult environment while maintaining growth through acquisitions and regional market strength.