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Carlsberg misses H1 forecasts, warns of difficult year
Carlsberg narrowed its 2025 operating profit growth forecast to 3%-5% after missing half-year targets due to weak demand, tariff impacts, and a 1.7% decline in volumes, analysts said.
- On Thursday, August 14, 2025, Carlsberg, the world’s third-largest brewer, reported results below expectations for both profit and volume in the first half of the year, which led to a nearly 7% decline in its share price.
- The shortfall stemmed from weaker-than-expected volume growth, a consumer spending pause, and broader economic headwinds that the company does not expect to improve this year.
- CEO Jacob Aarup-Andersen noted shifting consumer preferences favoring premium or economy brands over core beers like Carlsberg, Tuborg, and Kronenbourg, while at-home consumption rises due to higher bar prices.
- Carlsberg reported a 2.3% increase in first-half organic operating profit to 7.23 billion Danish crowns, though organic volumes slipped 1.7%, leading it to narrow annual profit growth expectations to 3–5%.
- Despite a drop in volumes and a tough market environment, Carlsberg lifted its full-year profit outlook, attributing this to disciplined cost management and anticipating a modest improvement in volume figures during the latter part of the year.
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Carlsberg half-year profits miss expectations, warns of tough year
LONDON/COPENHAGEN: Carlsberg missed half-year profit and volume forecasts on Thursday and warned it did not expect the consumer environment to improve in the rest of 2025, sending the Danish brewer's shares down almost 7% in early trading.
·Malaysia
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Carlsberg reported a fall of 1.7% in organic volumes in the first half of 2025, and his shares fell by about 7% after the announcement. In the second quarter, AB InBev raised its organic operating profit by 6.5%, despite a decrease of 1.9% in global volumes. In 2024, Corona Zero grew in volume to three digits in more than 30 markets, while AB InBev closed the year with revenues of 59,770 million dollars. Changes in the core of the beer market Ca…
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R 20%
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