Eager consumers overshadow volatile environment for Carlsberg in 2022 – results data

The keenness of consumers to socialise again has helped drive Carlsberg to an impressive performance in 2022.

Three months on from reporting a 17.2% sales rise for the first nine months of the year, the group announced today that its top line for the full calendar year came in up by almost 16%. With Carlsberg’s namesake lager brand delivering a 14% volumes increase, the company noted that the on-premise channel globally witnessed a consumer “eager to socialise”.

Carlsberg's largest reporting region endured contrasting fortunes as the first half saw 'Western Europe's' on-premise return to life while H2 struggled with higher commodity and energy costs and "on-trade softness". Indeed, the year of two halves was exemplified by the second half's +6% sales showing on the region's +13.8% for the year as a whole.

Over in 'Asia', the group bucked the China trend of struggling with localised lockdowns: Performance in the country was described as "good" as Vietnam - Carlsberg's main growth driver in the region - jumped by 20%. Overall, Asia was up for the company by 17% on 2021.

Finally, in 'Central & Eastern Europe', where 2021's figures have been recalibrated to remove Russia's performance, the near-15% sales increase was put down in part to the effect of price increases in all markets [volumes from the region were flat in 2022].

Carlbsberg's pending divestment of its operations in Russia, announced last year following the country's invasion of Ukraine, remains ongoing, with the "complicated" transaction expected to come to fruition towards the middle of this year.

Turning to the current year, Carlsberg warned of an ongoing rise in costs which it hopes to mitigate with more price rises and a "continued tight focus on costs".

"While beer historically has been a resilient consumer category," the group added, "the higher prices in combination with generally high inflation may have a negative impact on beer consumption in some of our markets, particularly in Europe."

Carlsberg's official Q4 & 2022 results announcement.

Group presentation on recent performance.

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