{"id":874099,"date":"2025-09-19T01:13:31","date_gmt":"2025-09-19T06:13:31","guid":{"rendered":"https:\/\/newsycanuse.com\/index.php\/2025\/09\/19\/h1-2025-financial-statement\/"},"modified":"2025-09-19T01:13:31","modified_gmt":"2025-09-19T06:13:31","slug":"h1-2025-financial-statement","status":"publish","type":"post","link":"https:\/\/newsycanuse.com\/index.php\/2025\/09\/19\/h1-2025-financial-statement\/","title":{"rendered":"H1 2025 Financial Statement"},"content":{"rendered":"<div id=\"wrap\" itemscope itemtype=\"http:\/\/schema.org\/NewsArticle\">\n<h2 itemprop=\"alternativeHeadline\">Solid development in a challenging environment; Britvic integration on track.<\/h2>\n<p><span itemprop=\"publisher\" itemscope itemtype=\"http:\/\/schema.org\/Organization\"><span itemprop=\"name\"><a href=\"https:\/\/www.webwire.com\/\" rel=\"nofollow\">WEBWIRE<\/a><\/span><\/span> \u2013 <span itemprop=\"datePublished\" content=\"2025-08-15\">Friday, August 15, 2025<\/span><\/p>\n<p><span itemprop=\"articleBody\"><\/p>\n<div>\n<p><strong>Strong Reported Volume Growth<\/strong><\/p>\n<p><strong>Reported volume growth 16.0%, organic volume development -1.7%<\/strong><\/p>\n<\/div>\n<ul>\n<li>Group organic volumes excluding San Miguel -0.4% (Q2: +0.2%).\n<\/li>\n<li>Organic volume growth in Western Europe excluding San Miguel +2.4%, Asia -2.8% and Central &#038; Eastern Europe and India (CEEI) 0.0%.\n<\/li>\n<li>Growth categories (organic growth): premium beer (excluding San Miguel) +5%, alcohol-free brews +7%, Beyond Beer -1% and soft drinks 0%.\n<\/li>\n<li>International brands: Tuborg +2%, Carlsberg +5%, 1664 Blanc 0% and Brooklyn +2%.\n<\/li>\n<\/ul>\n<div>\n<p><strong>Revenue\/Hl Growth in All Regions<\/strong><\/p>\n<p><strong>Reported revenue growth 18.2%, organic revenue development -0.3%<\/strong><\/p>\n<\/div>\n<ul>\n<li>Organic revenue growth excluding San Miguel +1.3% (Q2: +2.4%).\n<\/li>\n<li>Revenue\/hl +1%: Western Europe +1%, Asia +1% and CEEI +3%.\n<\/li>\n<li>Reported revenue DKK 45,855m, positively impacted by the Britvic acquisition.\n<\/li>\n<\/ul>\n<div>\n<p><strong>Solid Organic Operating Profit Growth<\/strong><\/p>\n<p><strong>Reported operating profit growth 15.1%, organic operating profit growth 2.3%<\/strong><\/p>\n<\/div>\n<ul>\n<li>Solid organic operating margin improvement driven by continued organic gross margin expansion of 60bp.\n<\/li>\n<li>Reported operating profit DKK 7,233m (including the impact of hyperinflation accounting in Laos of DKK -97m).\n<\/li>\n<li>Reported operating margin declined 40bp to 15.8%, impacted by the Britvic acquisition and hyperinflation accounting.\n<\/li>\n<li>Reported net profit DKK 3,562m (-4.7%), impacted by higher net financials, tax and Britvic integration costs.\n<\/li>\n<li>Adjusted net profit up 3.9% to DKK 4,023m. Adjusted earnings per share up 4.7% to DKK 30.4.\n<\/li>\n<li>Free operating cash flow DKK 2,669m.\n<\/li>\n<\/ul>\n<p><strong>Strong Initial Delivery on the Britvic Business Case<\/strong><\/p>\n<ul>\n<li>Following completion on 16 January, business continuity, integration and synergy delivery all on track.\n<\/li>\n<li>Mid-single-digit percentage volume and revenue growth in the UK and Ireland in Q2.\n<\/li>\n<li>Reported volumes, revenue and operating profit included in H1 (from 16 January) of 11.2m hl, DKK 7.3bn and DKK 844m respectively.\n<\/li>\n<\/ul>\n<p><strong>2025 Earnings Guidance Range Narrowed Towards the Upper End<\/strong><\/p>\n<ul>\n<li>Organic operating profit growth of 3-5% (previously 1-5%).\n<\/li>\n<li>Based on the currency spot rates at 13 August, we assume a translation impact of around DKK -200m for the full year (unchanged), excluding the impact of hyperinflation accounting in Laos.\n<\/li>\n<li>Financial expenses, excluding foreign exchange losses or gains, of around DKK 2.4bn (previously DKK 2.5bn).\n<\/li>\n<li>Assumed full-year operating profit contribution from Britvic of GBP 250m maintained.\n<\/li>\n<\/ul>\n<div>\n<p>CEO Jacob Aarup-Andersen says: <span>The Group delivered solid results in a difficult half year, with good market share development in all three regions, particularly in Western Europe, driven by good progress for premium beer, alcohol-free brews and soft drinks.<\/span><\/p>\n<p><span>We dont expect the consumer environment to improve over the remainder of the year. Nevertheless, were continuing our long-term investments in key brands and capabilities, including in areas such as digital, marketing and value management, to create an even stronger Carlsberg.<\/span><\/p>\n<p><span>Being able to narrow our earnings guidance towards the upper end of the range in a difficult trading environment reflects our relentless focus on commercial execution as well as continued strong performance management and cost discipline.<\/span><\/p>\n<p><span>Were pleased with the underlying Britvic performance in the key UK and Ireland markets. The business integration is progressing well and according to plan, making us excited about the long-term value creation from this acquisition.<\/span><\/p>\n<\/div>\n<p><\/span><\/p>\n<p>( Press Release Image: <a href=\"https:\/\/photos.webwire.com\/prmedia\/6\/342522\/342522-1.jpg\" target=\"_blank\" rel=\"nofollow\">https:\/\/photos.webwire.com\/prmedia\/6\/342522\/342522-1.jpg<\/a> )<\/p>\n<p id=\"wwguid\">WebWireID342522<\/p>\n<p>This news content was configured by WebWire editorial staff. Linking is permitted.<\/p>\n<p>News Release Distribution and Press Release <a href=\"http:\/\/www.webwire.com\/OurServices.asp\">Distribution Services<\/a> Provided by WebWire.<\/p>\n<\/div>\n<p><a href=\"https:\/\/www.webwire.com\/ViewPressRel.asp?aId=342522\" class=\"button purchase\" rel=\"nofollow noopener\" target=\"_blank\">Read More<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Solid development in a challenging environment; Britvic integration on track. WEBWIRE \u2013 Friday, August 15, 2025 Strong Reported Volume Growth Reported volume growth 16.0%, organic volume development -1.7% Group organic volumes excluding San Miguel -0.4% (Q2: +0.2%). Organic volume growth in Western Europe excluding San Miguel +2.4%, Asia -2.8% and Central &amp; Eastern Europe and<\/p>\n","protected":false},"author":1,"featured_media":874100,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[534,23148],"tags":[5468,8893],"class_list":{"0":"post-874099","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-financial","8":"category-statement","9":"tag-financial","10":"tag-statement"},"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts\/874099","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/comments?post=874099"}],"version-history":[{"count":0,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts\/874099\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/media\/874100"}],"wp:attachment":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/media?parent=874099"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/categories?post=874099"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/tags?post=874099"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}