Carlsberg Q3 Revenue Up 17.8% After Britvic, Gorkha

Carlsberg reported third-quarter revenue of DKK 24.1 billion, up 17.8% year‑on‑year, driven largely by the acquisition of Britvic and the consolidation of Gorkha Brewery, with nine‑month revenue up about 18%. Organic beer volumes fell roughly 3% in Q3 (internal metrics suggested a smaller decline of about 1.7%), while revenue per hectoliter rose about 2% and the premium portfolio grew around 5%. Management cited subdued consumer demand in parts of Asia (including China and India, where heavy monsoon hit demand), Central and Eastern Europe, knock‑on effects in Kazakhstan and impacts from the war in Ukraine. CEO Jacob Aarup‑Andersen said Britvic’s integration is progressing and the group is taking cost actions to protect earnings while continuing investments and pursuing market‑share gains in China and the U.K. Carlsberg reaffirmed its full‑year organic operating profit before special items guidance of 3–5%, and shares dipped about 1% after the update.