Denmark's Carlsberg Q1 organic revenue rises 3.6%, helped by soft drinks and alcohol-free brews

Carlsberg A/S

29/04/2026 07:06

Overview

Denmark brewer's Q1 organic revenue grew 3.6%, with volume up 2.8% across all regions

Company saw strong growth in premium beer, soft drinks, and alcohol-free brews

Carlsberg reaffirmed 2026 earnings guidance and expanded PepsiCo partnership in Nordics, Baltics

Outlook

Carlsberg confirms 2026 organic operating profit growth guidance of 2-6% on 2025 profit

Company assumes no currency translation impact for 2026, updating previous DKK -100 mln estimate

Result Drivers

CATEGORY GROWTH - Premium beer, soft drinks, and alcohol-free brews delivered strong growth, according to CEO Jacob Aarup-Andersen

INTERNATIONAL BRANDS - Sales of Carlsberg, Tuborg, and 1664 Blanc increased, with Carlsberg up 10%

REGIONAL VOLUME GAINS - Organic volume growth was positive in Western Europe, Asia, and CEEI, with Asia returning to solid growth

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Organic Growth
3.60%


Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 20 "strong buy" or "buy", 5 "hold" and 1 "sell" or "strong sell"

The average consensus recommendation for the brewers peer group is "buy"

Wall Street's median 12-month price target for Carlsberg A/S is DKK1,070.00, about 31.2% above its April 28 closing price of DKK815.40

The stock recently traded at 12 times the next 12-month earnings vs. a P/E of 13 three months ago

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)