Carlsberg expanded its business, thanks to the brewer’s bet on non-alcoholic drinks—but it may have to slow down in 2025
Carlsberg had an action-packed 2024. It acquired U.K.-based Britvic, creating a new entity that subsumes Carlsberg Marston’s Brewing Company business. The Danish company also got rid of its Russian operation after it was taken under state control in 2023.
Alcohol-free brews are Carlsberg’s fastest-growing segment, up 6% last year. Other consumers also gravitated to expensive beers such as 1664 Blanc and Tuborg.
On Thursday, Carlsberg reported fourth-quarter sales of DKK 15.72 billion ($2.18 billion), slipping slightly below analyst expectations of DKK 15.79 billion.
Its 2024 operating profit amounted to DKK 11.41 billion ($1.59 billion), up 2.8% year over year but just under the company-compiled consensus estimate of DKK 11.47 billion. However, its revenue grew 1.9% to DKK 75 billion, ahead of its estimates.
With Britvic, which includes Robinsons squash and Tango fizzy drinks, the Danish company will expand its suite of non-alcoholic beverages. Soft drinks will now become 30% of Carlsberg’s business, up from 16%. The deal also makes Carlsberg the largest bottler in Europe and worldwide by extending its PepsiCo partnership.
Source: FORTUNE
