Carlsberg falls as weak China weighs on H1 results

Carlsberg A/S

19/08/2026 09:47

** Shares in Carlsberg CARLb.CO fall 3.3% after the Danish brewer posted slightly weaker than expected results due to a slowdown in China
** H1 net sales of DKK 47.05 billion ($7.30 billion) are slightly below the DKK 47.16 billion seen in a company-compiled consensus 
** It narrows FY guidance towards the upper end of its earlier range, now seeing organic operating profit growth at 4%-6% in 2026, compared with 2%-6% previously
** "Revenue and volume are slightly below consensus, and Asia/China in particular is the clear stone in the shoe," Jyske Bank says, adding that the narrowed guidance was expected
** There are still a number of uncertainties, including developments in Asia and consumer confidence in Europe, Jyske adds
** Nordnet analyst Per Hansen says the outlook change is a "clear, but not very significant upward adjustment"
** The shares are on track for their worst day since March and among worst performers on the pan-European STOXX 600 index .STOXX
($1 = 6.4461 Danish crowns)

(Reporting by Marta Frackowiak)
((marta.frackowiak@thomsonreuters.com))