The Strategist

Carlsberg's net profit for the first half of 2021 grows by 6%

08/18/2021 - 10:52

Net profit of Carlsberg Group, one of the world's leading beer producers, attributable to shareholders increased by 6% in annual terms in the first half of 2021 and reached 3.027 billion Danish kroner ($479.6 million), according to the company's financial statements.

Diluted earnings per share for the six months were 20.9 kroner ($3.3) compared with earnings of 19.4 kroner ($3.07) a year earlier. Carlsberg's revenue for the half-year rose 9.9% year on year to 31.687 billion kroner ($5.02 billion). Organic sales growth for the half-year was 9.6% and 14.3% in the second quarter.

Operating income for the half year was 5,111 billion kronor ($809.9 million), up 10.7 percent from a year ago. Organic growth in operating profit was 15.6 percent.

The company notes that the COVID-19 pandemic continues to affect business performance, and market volatility and uncertainty remain high. However, in light of the good results for the first half of the year and the beginning of the third quarter, Carlsberg has improved its earnings forecast for 2021 and expects organic operating profit growth of between 8-11% (previously 5-10%).