Brewer Carlsberg A/S beat first-half revenue and earnings expectations as sales surpassed pre-pandemic levels despite higher input costs and the war in Ukraine.
(Bloomberg) — Brewer Carlsberg A/S beat first-half revenue and earnings expectations as sales surpassed pre-pandemic levels despite higher input costs and the war in Ukraine.
The Danish brewer said revenue in the first half rose to 35.45 billion Danish kroner ($4.8 billion), beating analyst consensus estimates of 33.97 billion kroner.
Carlsberg said preparations to sell its Russian assets were progressing well.
The company raised its 2022 earnings forecast earlier this month after better beer sales in Asia and Europe outweighed higher energy and commodity costs.
While the maker of Tuborg beer beat consensus estimates for adjusted earnings, it reported a net loss of 5.28 billion kroner for the period, which it blamed on impairment charges in Russia, Ukraine as well as central and eastern Europe.
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