Carlsberg reveals first quarter woes

Carlsberg expects that its annual financial results will be more negatively affected than initially expected

Carlsberg’s profits for the first quarter of 2014 are considerably down compared to the first quarter of 2013, according to its quarterly financial statement.

The first quarter profits for the brewery giant were 78 million kroner, down from 226 million kroner last year, despite increased revenue growth of three percent to 12.9 billion kroner.

The unstable geopolitical situation in Eastern Europe was largely to blame, but faltering results in Asia also reduced the profit margin.

Russian blues
“The western European business continued its strong performance, while results in eastern Europe were impacted by the uncertain macro situation,” Jørgen Buhl Rasmussen, the head of Carlsberg, said in a press release.

Furthermore, in Russia, the largest market in eastern Europe, Carlsberg’s results were also influenced by a new Russian law that forbids the sale of beer in kiosks and general declining financial growth in the country, including a devalued Russian ruble.

Carlsberg expects that its annual financial results will be more negatively affected than initially expected.

TOP STORIES

Connect club

Connect Club is your gateway to a vibrant programme of events and an international community in Denmark.

Sign up here

Career

  • How internationals can benefit from joining trade unions

    How internationals can benefit from joining trade unions

    Being part of a trade union is a long-established norm for Danes. But many internationals do not join unions – instead enduring workers’ rights violations. Find out how joining a union could benefit you, and how to go about it.

  • Internationals in Denmark rarely join a trade union

    Internationals in Denmark rarely join a trade union

    Internationals are overrepresented in the lowest-paid fields of agriculture, transport, cleaning, hotels and restaurants, and construction – industries that classically lack collective agreements. A new analysis from the Workers’ Union’s Business Council suggests that internationals rarely join trade unions – but if they did, it would generate better industry standards.

  • Novo Nordisk overtakes LEGO as the most desirable future workplace amongst university students

    Novo Nordisk overtakes LEGO as the most desirable future workplace amongst university students

    The numbers are especially striking amongst the 3,477 business and economics students polled, of whom 31 percent elected Novo Nordisk as their favorite, compared with 20 percent last year.

Want to advertise your job with CPH Post?

Contact us

Jobs