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    CARL B   DK0010181759

CARLSBERG A/S

(CARL B)
  Report
Delayed Quote. Delayed Nasdaq Copenhagen - 08/02 10:59:49 am
1147.5 DKK   -1.03%
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Chinese beer sales help Carlsberg beat expectations

04/28/2021 | 02:27am EDT
FILE PHOTO: The Calsberg's logo is seen on the jacket of an employee at the development center of the Carlsberg group at the K2 Kronenbourg beer brewery in Obernai

COPENHAGEN, April 28 (Reuters) - A rebound in Chinese beer sales in the first quarter helped Carlsberg to beat analyst expectations, even as lockdowns depressed markets in Western Europe, the Danish brewer said on Wednesday.

The world's third-biggest brewer, after Heineken and Anheuser Busch Inbev, said volumes sold in China increased by more than 50% compared with the first three months of last year and by 20% from the same period in 2019.

"This is more than just an easy comparison to last year," Chief Executive Cees 't Hart said at a conference call referring to the outbreak of the novel coronavirus that locked down China early last year.

"It shows that we are more than back on track in China and that we have regained our momentum," he said.

Volumes declined by 6% in the more profitable Western European market, although the company had a "relatively good start to April" and saw "good progress" in Britain, where pubs reopened this month, Hart said.

Total sales between January and March stood at 13.0 billion Danish crowns ($2.11 billion), compared with 12.8 billion estimated by analysts in a poll gathered by the company.

The situation is similar to that of rival Heineken , which last week beat expectations as beer sales in Africa and Asia increased, but were offset by a sharp decline in Europe.

The positive start to the year led Carlsberg to increase minimum expectations for profit growth for this year. It expects operating profit to grow between 5% and 10%, compared with its previous guidance of 3% to 10% growth.

The brewer has also launched a share buy-back programme, aiming to purchase shares worth 1 billion crowns until August 13.

Carlsberg's shares traded 0.5% higher at 0748 GMT, near an all-time high reached last week, and are up 10% since the start of the year. ($1 = 6.1596 Danish crowns) (Reporting by Jacob Gronholt-Pedersen; Editing by Andrew Heavens, Keith Weir and Barbara Lewis)


ę Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
ANHEUSER-BUSCH INBEV -0.15% 53.32 Real-time Quote.-6.33%
CARLSBERG A/S -1.03% 1147.5 Delayed Quote.18.90%
HEINEKEN N.V. 0.61% 98.8 Real-time Quote.7.65%
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Financials
Sales 2021 64 141 M 10 246 M 10 246 M
Net income 2021 6 575 M 1 050 M 1 050 M
Net Debt 2021 22 231 M 3 551 M 3 551 M
P/E ratio 2021 25,4x
Yield 2021 2,00%
Capitalization 174 B 27 663 M 27 716 M
EV / Sales 2021 3,05x
EV / Sales 2022 2,85x
Nbr of Employees 40 000
Free-Float 67,6%
Chart CARLSBERG A/S
Duration : Period :
Carlsberg A/S Technical Analysis Chart | MarketScreener
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Technical analysis trends CARLSBERG A/S
Short TermMid-TermLong Term
TrendsNeutralBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 24
Last Close Price 1 159,50 DKK
Average target price 1 226,82 DKK
Spread / Average Target 5,81%
EPS Revisions
Managers and Directors
Cees't C. Hart President & Chief Executive Officer
Heine Dalsgaard Chief Financial Officer
Flemming Besenbacher Chairman-Supervisory Board
Richard George William Burrows Member-Supervisory Board
Lars Fruergaard J°rgensen Vice Chairman-Supervisory Board
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