Carlsberg A/S

OTC Pink - Limited Information:CABGYUnited States

Oct 31, 2024

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• DJ Carlsberg's Lack of Major Negatives, Unchanged Guidance Bring Optimism -- Market Talk, from 4:34AM ET on Thursday Oct 31, 2024 by Dow Jones

  4:34AM ET on Thursday Oct 31, 2024 by Dow Jones
  Companies Mentioned: CABGY
  
  0834 GMT - Despite Carlsberg's weak 3Q, the stock is up due to a sharp price fall yesterday and the absence of big misses in its results, Citi analysts say. The Copenhagen-based brewer reported disappointing sales volumes. Organic sales growth also fell short of expectations. However, the 6% drop in volumes in China was better than some investors feared, they say. Carlsberg's share performance is likely to improve through year-end given the current share price weakness, backed guidance and the fact that the company's headwinds are already well-known, they add. Shares are up 0.7%, but down more than 10% since the start of 2024. (michael.susin@wsj.com)
  

• *DJ Carlsberg Shares Rise 1.3% After 3Q Trading Update, from 4:02AM ET on Thursday Oct 31, 2024 by Dow Jones

  4:02AM ET on Thursday Oct 31, 2024 by Dow Jones
  Companies Mentioned: CABGY

• *DJ Carlsberg 3Q Organic Volume Down 0.2%, from 3:00AM ET on Thursday Oct 31, 2024 by Dow Jones

  3:00AM ET on Thursday Oct 31, 2024 by Dow Jones
  Companies Mentioned: CABGY
  By Michael Susin Carlsberg missed both revenue and sales volumes expectations for the third quarter due to a poor performance in some countries such as China, but reiterated its full-year guidance. The Copenhagen-based brewer on Thursday said revenue came in at 20.48 billion Danish kroner ($2.98 billion) compared with 20.29 billion kroner reported the same period a year ago. This compares with the company-provided market expectations of a rise to 20.675 billion kroner. Revenue grew organically 1.3%, with positive contribution from Central and Eastern Europe and India markets. Sales volume decreased 0.2% to 35.0 million hectoliters, as the company flagged a challenging consumer backdrop. This compares with the company-provided market expectations of 35.3 million hectoliters. Volumes of the premium beers segment fell 0.5%, while non-alcoholic brews sales increased 6%. "It was a tough quarter, impacted by a challenging consumer environment and weather. Nevertheless, we delivered volume and revenue growth in the majority of our markets, although lower volumes in China, France and the U.K. impacted overall group performance," Chief Executive Jacob Aarup-Andersen said. Carlsberg said it continues to expect organic growth in operating profit for 2024 of between 4% and 6%. Write to Michael Susin at michael.susin@wsj.com (END) Dow Jones Newswires October 31, 2024 03:28 ET (07:28 GMT)