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MarketScreener Homepage  >  Equities  >  NASDAQ OMX COPENHAGEN  >  Carlsberg A/S    CARL B   DK0010181759

CARLSBERG A/S

(CARL B)
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Carlsberg A/S : raises outlook on strong sales in China and Russia

10/28/2020 | 11:11am EST
Bottles of Carlsberg beer are seen in a bar in St. Petersburg

COPENHAGEN (Reuters) - Danish brewer Carlsberg posted third-quarter underlying sales that beat expectations on Tuesday and raised its full-year earnings guidance thanks to strong sales in Russia and China.

The world's third-biggest brewer, whose brands also include Kronenbourg, Baltika and Holsten, now expects 2020 operating profit, excluding the effects of any acquisitions, to decline by a mid-single-digit percentage, compared with previous guidance of a high-single-digit decline.

The upgrade was due to a strong performance in the third quarter, continued positive volume trends in Russia and China at the beginning of the fourth quarter, and the effects of planned cost reductions, Carlsberg said in a statement.

Beer sales have suffered during the COVID-19 pandemic, but as some countries, including China, Carlsberg's biggest single market by volume, relaxed lockdowns over the summer, the company has seen a rebound enough to prompt it to raise its outlook last month.

Still, as a result of new coronavirus restrictions following a recent spike in infections, sales at restaurants and bars "face an increasing level of pressure in the coming quarters", Carlsberg said.

Volumes sold at bars and restaurants fell by a fifth in the third quarter compared with last year, it said.

Carlsberg reported sales - excluding the effects of any acquisitions - between July and September of 17.3 billion Danish crowns ($2.8 billion), compared with an average forecast of 16.9 billion from analysts polled by the company.

Shares in Carlsberg have dropped around 20% from an all-time high of 1,064.5 crowns in January.

(Reporting by Nikolaj Skydsgaard and Jacob Gronholt-Pedersen; Editing by David Goodman and David Holmes)

By Jacob Gronholt-Pedersen and Nikolaj Skydsgaard


© Reuters 2020
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Financials
Sales 2020 59 198 M 9 654 M 9 654 M
Net income 2020 5 653 M 922 M 922 M
Net Debt 2020 22 450 M 3 661 M 3 661 M
P/E ratio 2020 24,7x
Yield 2020 2,18%
Capitalization 139 B 22 659 M 22 716 M
EV / Sales 2020 2,73x
EV / Sales 2021 2,52x
Nbr of Employees 40 000
Free-Float 68,0%
Chart CARLSBERG A/S
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Carlsberg A/S Technical Analysis Chart | CARL B | DK0010181759 | MarketScreener
Technical analysis trends CARLSBERG A/S
Short TermMid-TermLong Term
TrendsBearishBullishNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 24
Average target price 1 074,52 DKK
Last Close Price 946,40 DKK
Spread / Highest target 28,4%
Spread / Average Target 13,5%
Spread / Lowest Target -19,7%
EPS Revisions
Managers and Directors
NameTitle
Cees't C. Hart President & Chief Executive Officer
Flemming Besenbacher Chairman-Supervisory Board
Heine Dalsgaard Chief Financial Officer
Hans S. Andersen Member-Supervisory Board
Richard George William Burrows Member-Supervisory Board
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