Carlsberg Q3 Revenue Rises 4.9% to 25.28B Kroner Despite 3.5% Beer Volume Decline; Backs FY26 Guidance

Carlsberg A/S (CABGY.PK) reported Thursday a 4.9% rise in third-quarter revenue to 25.281 billion Danish kroner from 24.108 billion kroner a year earlier, supported by a positive currency impact, even as total beer volume fell 3.5% to 26.7 million hectoliters amid a challenging trading environment in China. Organic revenue growth was 3.0%, with Western Europe up 2.5% to 14.559 billion kroner, Asia down 4.6% to 5.065 billion kroner, and Central & Eastern Europe and India up 11.7% to 5.653 billion kroner. Total beverage volume edged up 0.3% to 40.8 million hectoliters, while soft drinks and other beverages grew 8.5% to 14.1 million hectoliters. Revenue per hectoliter rose 3%. The company maintained its fiscal 2026 outlook, still expecting organic operating profit growth of 4% to 6% versus the prior year's 13.686 billion kroner. Carlsberg shares traded at 949.40 kroner in Copenhagen, down 1.45%.