Post date: 05/10/2016 - 18:40
Carlsberg's Q1 2016 resultsCarlsberg started the quarter by offloading a plot of land in Copenhagen for around US$90m. The sale, to Danish pension fund Danica, formed part of Carlsberg's plan to dispose of its non-core assets.
Carlsberg started the quarter by offloading a plot of land in Copenhagen for around US$90m. The sale, to Danish pension fund Danica, formed part of Carlsberg's plan to dispose of its non-core assets.
Despite claims by analysts that it might be interested in buying SABMiller's Grolsch and Peroni Nastro Azzuro brands, Carlsberg's chairman calmed the speculation in January. Flemming Besenbacher was cited by Danish newspaper Berlingske saying that Carlsberg is no longer trying to grow through M&A, and preferred to be strong rather than big. Within a month, Asahi Group lined up its purchase of the brands, along with Meantime.
Also in January, analysts at Nomura met with Carlsberg management and came away fearing that the company's recent troubles may not be fully behind it just yet.
Nordic, Carlsberg's non-alcohol brand, posted healthy sales in the brewer's domestic market, with the company looking to add a wheat variant in the coming months. Could we see a broader roll-out of the brand, as Carlsberg chases growth?
The company lined up the construction of an eighth brewery in India in February, with Tuborg rising to second place in the list of the country's top-selling beer brands.
In Western Europe, Michiel Herkemij was confirmed as the brewer's SVP for the region, with Julian Momen set to replace him as CEO of Carlsberg's UK division.
Finally, in March, the group launched its 'SAIL2022' strategy review, with the company identifying four global trends that "will shape the future beer category".
In full-year results for 2015(http://www.just-drinks.com/news/2015-an-inflection-point-for-carlsberg-a...), reported in February:
Losses came in at DKK2.93bn (US$441.2m) versus 2014 profits of DKK4.41bn
Sales inched up by 1.3% to DKK65.35bn
Operating profits slid by 8.4% to DKK8.46bn