Carlsberg has signaled expectations for a moderate operating profit for the upcoming year, citing a pullback in consumer beer drinking and increased marketing expenditures. The company has faced a $5.9 billion loss, primarily due to its exit from the Russian unit, Baltika Breweries. In response to ongoing inflation, Carlsberg has warned of further price increases. To counterbalance these challenges, the company is betting on China and expensive, premium beers to drive higher growth.
Russia exit cost EU beer giant $5.9 billion Carlsberg Group had previously announced having de-consolidated Baltika Breweries, its Russian business https://t.co/OxU3JKjRNj https://t.co/zIRy7sqxd0
Carlsberg warns of further price rises as inflation continues to bite https://t.co/VKx5RkTSm1
Carlsberg bets on China, expensive beer for higher growth goals https://t.co/mgA54Wc0P3 https://t.co/zf9vDvdU2p
NEW: Carlsberg posts $5.9 billion loss after losing Russian unit https://t.co/A5HKbMar1B
Carlsberg expects moderate operating profit this year as some consumers pull back on drinking beer and it spends more on marketing https://t.co/Q6kkaOAuuq