Royal Unibrew benefits from long, hot summer
Earnings went up with the temperature
This summer's warm weather has inspired beer and soft drink drinkers to down a few extra this year, helping Royal Unibrew to boost its revenue and earnings expectations for the entire year.
Royal Unibrew is Denmark's second largest brewer and the maker of Faxe and Ceres beers and Faxe Kondi soda. It also produces and markets Heineken in Denmark.
Revenue increased in the first half of 2014 by 67 percent to just under 3 billion kroner when compared to the same period last year. A major part of the increase is due to the acquisition of Finnish brewer Hartwall in August last year.
“We have seen continuous improvement in the first part of this year,” Unibrew boss Henrik Brandt told Berlingske.
The brewery is now increasing its expectations, both for profit and revenue in 2014. Full year projections increased to 5.95-6.1 billion kroner from the previously announced 5.75-6.05 billion. The outlook for the operating profit increased from 790-840 million kroner from the previously projected 665-715 million kroner.