Full Year 2025 Carlsberg A/S Earnings Call Transcript
Key Points
- Carlsberg AS (CABGY) closed the Britvic transaction and over-delivered on expected 2025 synergies.
- The company reported an 11% increase in adjusted EPS and a 7% increase in dividends to DKK29 per share.
- Carlsberg AS (CABGY) achieved strong top and bottom-line growth, with reported revenue up by 18.8% and operating profit by 22.7%.
- The Pepsi portfolio gained more than 1% volume and value market share in the UK, showcasing strong performance.
- The company is exploring an IPO for its business in India to potentially increase shareholder value.
- The organic revenue development was negatively impacted by the loss of San Miguel in the UK, resulting in a minus 0.6% organic growth.
- Volumes in Asia declined slightly, mainly driven by soft consumer sentiment in Laos and Vietnam.
- The French beer market remained flat, with mainstream beer volumes declining due to softness in certain brands.
- The Vietnamese business faced challenges due to intense promotional activity and adverse weather conditions, leading to a double-digit volume decline.
- The company anticipates a subdued consumer environment in 2026 due to geopolitical uncertainties, impacting consumer sentiment and behavior.
Ladies and gentlemen, welcome to the Carlsberg FY 2025 financial statement conference call. I am Hillie, the Chorus Call operator. (Operator Instructions)
The conference is being recorded. The conference must not be recorded for publication or broadcast.
At this time, it's my pleasure to hand over to Jacob Aarup-Andersen, CEO. Please go ahead.
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Thank you very much, operator, and good morning, everyone, and welcome to Carlsberg's full year 2025 conference call. As said, my name is Jacob Aarup-Andersen. I'm the group CEO, and I have with me our Group CFO, Ulrica Fearn; and Vice President, Investor Relations, Peter Kondrup. 2025 has been an eventful year. We executed on major initiatives that will shape the future of Carlsberg, while at the same time, we navigated through quite a volatile environment in the year. Let me summarize the key headlines for the year.
We closed the
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