Carlsberg’s chief executive Jacob Aarup-Andersen has admitted that the Danish brewing multinational faced a “tough quarter" in the three months ending 30 September, as a "challenging consumer environment and weather" weighed on sales performance.
The company recorded a modest 1.3% organic revenue increase, but overall beer volumes dropped by 1.3% in key regions, with notable declines in China, France, and the UK.
Despite the downturn in wholesale volumes, Carlsberg saw positive movement in its non-alcoholic segment, which grew by 6%.
Aarup-Andersen said he thought that Carlsberg’s acquisition of British soft drinks company Britvic PLC (LSE:BVIC) is expected to go ahead in the first quarter of 2025.
The £3.3 billion takeover is, however, subject to a formal probe by the UK Competition and Markets Authority.
Despite the flat quarter, Carlsberg has maintained its organic operating profit growth target of between 4% and 6% for the full year.