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Carlsberg Q1 Revenue Down

(RTTNews) - Following the suspension of its outlook for 2020 on April 2 due to uncertainty caused by the COVID-19 pandemic, Danish brewer Carlsberg (CABGY.PK) Thursday reported that its revenue declined by 6.8 percent to 12.9 billion Danish Kroner for the first quarter, with 7.4 percent decrease in organic revenue.

On an organic basis, the Group posted a decline of 6.9 percent in Western Europe as well as 12.4 percent in Asia, but a modest 2.2 percent rise in Eastern Europe.

During the quarter, the Group posted 7.6 percent decrease in volume, both on reported and organic basis. On an organic basis, volume was down 6 percent in Western Europe, 15.5 percent in Asia, while it was up 3.3 percent in Eastern Europe.

Looking ahead, the Group said "the situation remains unchanged with a high degree of volatility and uncertainty in most markets and, consequently, the 2020 guidance remains suspended."

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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