Carlsberg As Class A · OMXCOP:CARL_A
Carlsberg As Class A — Carlsberg As Shs A — Q1 2024 Earnings Presentation
12 slides from Carlsberg As Class A's earnings presentation, Apr 30, 2024
Slide 1: Q1 2024 Trading Statement
Q1 2024 TRADING STATEMENT
Slide 2: Disclaimer
Q1 2024 TRADING STATEMENT Disclaimer FORWARD-LOOKING STATEMENTS This presentation contains forward-looking statements, including statements about the Group’s sales, revenues, earnings, spending, margins, cash flow, inventory, products, actions, plans, strategies, objectives and guidance with respect
Slide 3: A solid start to the year
Q1 2024 TRADING STATEMENT A solid start to the year VOLUME GROWTH¹ • Growth in all three regions +2.0% • Growth in beer partly offset by decline in non-beer volume REVENUE/HL GROWTH¹ • Price increases across markets +4% • Positive product mix; negative country mix REVENUE GROWTH¹ • Growth in all thr
Slide 4: Accelerate SAIL – an update
Q1 2024 TRADING STATEMENT Accelerate SAIL – an update INVESTMENTS • Stepping up commercial investments • Higher marketing investments in support of growth for premium brands across markets • Higher sales investments in support of increased distribution in certain Asian markets GROSS MARGIN • Initiat
Slide 5: Portfolio categories
Q1 2024 TRADING STATEMENT Portfolio categories PREMIUM BEER ALCOHOL-FREE BREWS +8% +2% 5
Slide 6: International brands
Q1 2024 TRADING STATEMENT International brands CARLSBERG TUBORG 1664 BLANC BROOKLYN +15% +8% 0% -1% 6
Slide 7: Western Europe
Q1 2024 TRADING STATEMENT Western Europe THE NORDICS TOTAL VOLUME¹ Premium volume growth in all markets except Norway +0.2% • • Strong growth for alcohol-free brews • Revenue/hl growth driven by price and mix • Market share gain SWITZERLAND AND FRANCE • Soft start to the year REVENUE/HL¹ • Revenue/h
Slide 8: Asia
Q1 2024 TRADING STATEMENT Asia CHINA TOTAL VOLUME¹ • Beer market flat (YTD February, estimated) • Well-executed Chinese New Year • 5% volume growth supported by good growth for both premium and core beer +3.1% VIETNAM • Mid-single-digit market decline REVENUE/HL¹ • Continued distribution expansion •
Slide 9: Central & Eastern Europe and India
Q1 2024 TRADING STATEMENT Central & Eastern Europe and India UKRAINE TOTAL VOLUME¹ • Market impacted by the war • Volume growth supported by premium beer and alcohol-free brews +2.2% KAZAKHSTAN • Volume growth in a soft market • Strong growth of energy drinks REVENUE/HL¹ INDIA • Double-digit volume
Slide 10: 2024 earnings expectations maintained
Q1 2024 TRADING STATEMENT 2024 earnings expectations maintained ORGANIC OPERATING PROFIT GROWTH OF 1–5% Assumptions • Translation impact on operating profit: around DKK -250m, based on the spot rates at 29 April • Net finance costs (excluding FX): DKK -1.1bn • Reported effective tax rate: around 21%
Slide 11: Second quarterly share buy-back initiated
Q1 2024 TRADING STATEMENT Second quarterly share buy-back initiated FIRST QUARTERLY SHARE BUY-BACK • First quarterly programme executed during 7 February - 19 April • DKK 1bn • 1,068,314 shares purchased SECOND QUARTERLY SHARE BUY-BACK • Second quarterly programme of DKK 1.0bn initiated today • Runn
Slide 12: Q&A
Q1 2024 TRADING STATEMENT Q&A 12