Carlsberg Q1 Sales Miss, Warns on Global Risks

Carlsberg, the world’s third-largest brewer, reported first-quarter sales of 20.12 billion Danish crowns ($3.07 billion), rising 17% but coming in slightly below analyst expectations. The company maintained its full-year guidance for 1% to 5% organic operating profit growth, with some sales growth attributed to its acquisition of British soft drinks maker Britvic. Organic volumes fell by 2.3%, partly due to the loss of a San Miguel production contract in the UK and weaker consumer spending. In China, Carlsberg’s largest market, volumes grew by 2% driven by premium brands, even as the overall Chinese beer market contracted. The company warned that global economic headwinds, including US tariffs and inflation, could affect consumer confidence and production costs. No profit figures were released for the quarter.