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‘We’ve got a lot on our plate at the moment’ – Carlsberg CFO Ulrica Fearn speaks to Global Drinks Intel

Olly Wehring
Last updated: 17/02/2026 at 2:12 PM
By Olly Wehring
4 February 2026
6 Min Read

‘While it’s very important to understand what’s going on with our competitors, we don’t sit here and benchmark ourselves against one.’


Ulrica Fearn

Earlier today (4 February), Carlsberg posted its results from both the fourth quarter, to the end of December, and the full year. Shortly afterwards, Global Drinks Intel editor Olly Wehring had a call with group CFO Ulrica Fearn to hear more about what Carlsberg had called a “year of delivery”.

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Earlier today (4 February), Carlsberg posted its results from both the fourth quarter, to the end of December, and the full year. Shortly afterwards, Global Drinks Intel editor Olly Wehring had a call with group CFO Ulrica Fearn to hear more about what Carlsberg had called a "year of delivery". Did 2025 perform the way you expected in sales terms, in spite of the turbulence both externally and internally for Carlsberg?You’re clearly aiming for growth in any business, but in the environment we've been in, with the uncertainty we've witnessed, with the shifts we've seen and with the big tr

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TAGGED:Carlsberg
Olly Wehring
ByOlly Wehring
Olly has been reporting on the beverage industry as a B2B journalist since 2003. He spent 18 years at Just Drinks, 16 of which as managing editor. Since joining Global Drinks Intel in 2022, he's interviewed the CEOs for brand owners including AB InBev, Campari Group, Carlsberg, Heineken and Suntory Global Spirits and has a bulging contacts book from across beverage alcohol worldwide.
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