Carlsberg Expects 2024 Organic Operating Profit Growth
Carlsberg Forecasts Positive Growth for 2024
Carlsberg, the Danish brewer, announced its projection for organic operating profit growth of 1% to 5% in 2024. The company also anticipates a moderation of inflationary pressures.
Positive Revenue Report for Carlsberg
The brewer reported a 4.7% increase in revenue for 2023, reaching 73.59 billion Danish crowns. This figure narrowly exceeded analysts’ expectations of 73.31 billion, according to LSEG data. Carlsberg is the world’s third-largest brewer and is known for brands such as Kronenbourg 1664.
Strategies to Offset Higher Costs
Carlsberg expects a higher cost base in 2024 but plans to counter this with increased revenue per hectolitre and stringent cost controls. The company also intends to boost sales and marketing investments, with the latter set to increase by over 10%.
CEO’s Optimistic Outlook
CEO Jacob Aarup-Andersen expressed confidence in the company’s financial position, stating that Carlsberg is well-positioned to expand its growth initiatives and achieve its goals. He highlighted the strong performance of the premium portfolio and the company’s success in key Asian markets in 2023 as indicators of its potential for further expansion.
Encouraging Profit Growth for Carlsberg
Carlsberg reported a 5.2% organic operating profit growth, aligning with the middle of its projected range of 4-7%. The company also raised its growth targets for 2027.
