- Sales in three months to end of March rise by 3.6% to DKK20.72bn (US$3.25bn)
- Group volumes increase 2.8%, brand Carlsberg jumps 10%, thanks to China and India
Carlsberg has posted its strongest rise in quarterly sales for two years, bettering its rival, Heineken, in the three months to the end of March.
The company said today (29 April) that its Q1 sales came in up by 3.6% on the corresponding period in 2025. The performance, Carlsberg’s best since Q1 2024, cast a shadow across Heineken’s +2.8% showing in the same period, which was announced last week.
A near-3% increase in volumes for the quarter was driven by the group’s soft drinks operations (expanded by 2024’s purchase of Britvic in the UK), which were up 10%, with ‘alcohol-free brews’ close behind at +7%. The ‘premium’ portfolio, consisting of brand Carlsberg and Tuborg, grew its volumes by 3%, although the ‘beyond beer’ stable, home to Somersby cider and RTD S&R’s Garage, saw volumes dip by 2%.
In geographical terms, all three reporting regions were up in value sales, as ‘Central & Eastern Europe and India’ topped the chart at +8.1%. India and Nepal were singled out for their healthy starts to 2025. Asia finished Q1 up by 4.4%, although “easy comps” were cited as having played their part in Vietnam. Finally, ‘Western Europe’ delivered a sales rise of 1.5%.
“We delivered a good start to 2026 with organic volume and revenue growth in all three regions, strong results for our strategic category growth drivers – premium beer, soft drinks and alcohol-free brews – and a return to solid growth in our Asia region,” said CEO Jacob Aarup-Andersen.
“We’re excited about last week’s announcement regarding our expanded strategic partnership with PepsiCo in the Nordics and Baltics. The growth prospects and value creation opportunities from a business model that combines the Carlsberg and PepsiCo beverage portfolios are truly significant.”
Press play below to hear Aarup-Andersen’s thoughts on the Q1 results in a company-sourced video.
Members-only intel
Keep reading this members-only article – and every one like it
- ✓All paywalled news and interviews
- ✓Category and market data
- ✓Monthly GDI magazine
- ✓Full archive + daily newsletter
Secure checkout · Cancel any time · Company invoices available
Already a member? Log in
See all plans, incl. 10-reader and corporate
Check if your company already pays for you Your company may already give you free access.
Corporate subscribers: AB InBev, Bacardi, Campari Group, Diageo, Moët Hennessy, Pernod Ricard, Proximo Spirits, Suntory Spirits Group, William Grant and Sons.
Activate company accessNot ready yet? Get the headlines free in our daily newsletter.
Sign up free
