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SOLID ORGANIC VOLUME GROWTH Organic volume growth +2.8% Organic volume growth in Western Europe +1.2%, Asia +3.4% and Central & Eastern Europe and India (CEEI) +4.6%. Reported volume growth +5.3% to 35.1m hl. Growth categories: premium beer +3%, soft drinks +10%, alcohol-free brews +7% and Beyond Beer -2%. International brands: Carlsberg +10%, Tuborg +4% and 1664 Blanc +2%. POSITIVE REVENUE/HL DEVELOPMENT Organic revenue growth +3.6% Organic revenue/hl +1%: Western Europe up slightly, Asia +1% and CEEI +3%. Reported revenue growth +3.0% to DKK 20.7bn. CONFIRMING 2026 EARNINGS GUIDANCE Organic growth of 2-6% on the 2025 operating profit (MPM) of DKK 13,996m. Based on the currency spot rates at 28 April, we assume no translation impact for 2026 (previously DKK -100m). Group CEO Jacob Aarup-Andersen says: “We delivered a good start to 2026 with organic volume and revenue growth in all three regions, strong results for our strategic category growth drivers – premium beer, soft drinks and a
The Carlsberg Group is pleased to announce the expansion of its strategic partnership with PepsiCo in a new agreement to become the PepsiCo bottler in Denmark, Finland and the three Baltic states as of 1 January 2029.
Summary
The Annual General Meeting will be held on Monday, 16 March 2026 at 16.00 CET at Glyptoteket, Dantes Plads 7, DK-1556 Copenhagen V. Please find attached the notice including agenda in English and Danish as well as the draft Remuneration Policy with amendments marked up for convenience in English and Danish.
The attached document discloses the data of the transactions made in Carlsberg shares by the Company’s executive directors in accordance with Article 19 of Regulation No. 596/2014 on market abuse.
The attached document discloses the data of the transactions made in Carlsberg shares by the Company’s CFO in accordance with Article 19 of Regulation No. 596/2014 on market abuse.
The attached documents disclose the data of the transactions made in Carlsberg shares by the Company’s CEO in accordance with Article 19 of Regulation No. 596/2014 on market abuse.
Carlsberg's 2025 Annual Report, Remuneration Report and Human Rights Report are now available and attached to this announcement. The PDF reports can also be downloaded from the Carlsberg Group’s website at the links below: Annual Report: www.carlsberggroup.com/reports-downloads/carlsberg-group-2025-annual-report/ Remuneration Report: www.carlsberggroup.com/reports-downloads/carlsberg-group-2025-remuneration-report/ Human Rights Report: www.carlsberggroup.com/reports-downloads/carlsberg-group-2025-human-rights-report/ The reports are only available online.
Financial statement as at 31 December 2025
STRONG REPORTED VOLUME GROWTH DRIVEN BY BRITVIC ACQUISITION Reported volume growth 16.2%, organic volume development -3.0% Group organic volumes excluding San Miguel -1.7%. Organic volume development in Western Europe excluding San Miguel +1.3%, Asia -1.2% and Central & Eastern Europe and India (CEEI) -5.2%. Growth categories (organic growth): premium beer (excluding San Miguel) +5%, soft drinks +4%, alcohol-free brews -2% (excluding Ukraine: +6%) and Beyond Beer -10%. Reported growth in international brands: Tuborg +2%, Carlsberg +3% and 1664 Blanc +6%. REVENUE/HL GROWTH DRIVEN BY ALL THREE REGIONS Reported revenue growth 17.8%, organic revenue development -1.4% Organic revenue growth excluding San Miguel +0.2%. Organic revenue development in Western Europe excluding San Miguel +2.1%, Asia -0.6% and Central & Eastern Europe and India (CEEI) -2.8%. Revenue/hl +2%, with positive contributions from all three regions. Reported revenue DKK 24,139m, positively impacted by the Britvic acquis
The attached document discloses the data of the transactions made in Carlsberg shares by the Deputy Chair of the Supervisory Board, Majken Schultz, in accordance with Article 19 of Regulation No. 596/2014 on market abuse.
The attached document discloses the data of the transactions made in Carlsberg shares by member of the Supervisory Board, Magdi Batato, in accordance with Article 19 of Regulation No. 596/2014 on market abuse.
The attached document discloses the data of the transactions made in Carlsberg shares by CFO, Ulrica Fearn, in accordance with Article 19 of Regulation No. 596/2014 on market abuse.
The attached document discloses the data of the transactions made in Carlsberg shares by member of the Supervisory Board, Bob Kunze Concewitz, in accordance with Article 19 of Regulation No. 596/2014 on market abuse.
The attached document discloses the data of the transactions made in Carlsberg shares by member of the Supervisory Board, Jens Hjorth, in accordance with Article 19 of Regulation No. 596/2014 on market abuse.
The attached document discloses the data of the transactions made in Carlsberg shares by the Group CEO, Jacob Aarup-Andersen, in accordance with Article 19 of Regulation No. 596/2014 on market abuse.
Financial statement as at 30 June 2025
At the Annual General Meeting of Carlsberg A/S on 17 March 2025, the shareholders decided to reduce the Company’s share capital from DKK 2,685,136,120 to DKK 2,653,136,120 by cancelling 1,600,000 of the Company’s holding of B shares of DKK 20. The share cancellation has now been registered with the Danish Business Authority and completed. After the share capital reduction, the number of shares, share capital and number of votes are as shown in the attached Company announcement. Contacts Investor Relations: Peter Kondrup +45 2219 1221 Iben Steiness +45 2088 1232 Media Relations: Kenni Leth +45 5171 4368 For more news, follow Carlsberg Group on LinkedIn or sign up at www.carlsberggroup.com/subscribe.
STRONG REPORTED VOLUME GROWTH Reported volume growth 14.5%, organic volume development -2.3% Group organic volumes excluding San Miguel -1.1%. Organic volume development in Western Europe (excluding San Miguel) +0.8%, Asia -2.1% and Central & Eastern Europe and India (CEEI) -1.7%. Growth categories (organic growth): premium beer (excluding San Miguel) +4%, alcohol-free brews +15%, Beyond Beer +6% and soft drinks -4%. International beer brands: Tuborg +3%, Carlsberg +1%, 1664 Blanc -2% and Brooklyn +10%. POSITIVE REVENUE/HL DEVELOPMENT Reported revenue growth 17.4%, organic revenue development -1.5% Organic revenue growth excluding San Miguel flat. Organic revenue/hl +1%: Western Europe slightly up, Asia +2% and CEEI +2%. Reported revenue DKK 20.1bn, positively impacted by the Britvic acquisition. BRITVIC INTEGRATION AND SYNERGY REALISATION PROGRESSING AS PLANNED Transaction completed on 16 January. Reported volumes and revenue included in Q1 (from 16 January) of 4.7m hl and DKK 3.0bn.