Carlsberg As Shs A (CABHF) Q2 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Welcome to the Carlsberg A.S. H1 2025 Financial Statement Conference Call. I'm Moritz, the call's call operator. I would like to remind you that all participants will be in a listen-only mode and the conference is being recorded. The presentation will be followed by a question and answer session. You can register for questions at any time by pressing star and one on your telephone. For operator assistance, please press star and zero. The conference must not be recorded for publication or broadcast. At this time, it's my pleasure to hand over to your host today, CEO Jacob Arab-Anderson and CFO Ulrike Fern. Please go ahead. Thank you so much, Operator, and good morning, everyone, and welcome to Carlsberg's half-year 2025 conference call. As said, my name is Jacob Arab-Anderson, and I have with me our CFO Ulrike Fern and our Vice President of Investor Relations, Peter Kontrup. Before we get into the meat of it, let me begin by summarizing the key headlines for this call. We delivered strong top-line and profit growth, mainly due to the consolidation of BRITVIC, of course. We delivered solid organic performance in a challenging environment with good market share development in all three regions and returning to volume growth in Q2 in both Western Europe X, San Miguel, and in CE&I. The integration of BRITVIC is on track and we're excited about the performance of the business in the key UK and Ireland markets. And thanks to the solid performance in the first half and our strong performance management, we today also narrow our full year guidance for organic operating profit growth towards the upper end of the previous guidance range. I'm going to go through the key headlines for the group, the BRITVIC integration and the regions. And then Ulrike will take over and provide m...