Carlsberg has reported total volume fell 3% in the UK for the year ending 31 December 2018 in a slightly growing beer market.
Of its UK performance, the company stated, “Our volumes in the premium category increased, driven by growth of brands such as Poretti and licence brands, whereas the mainstream Carlsberg brand lost market share. During the year, we completed our exit from porterage activities, which reduced net revenue.”
Overall, reported net revenue grew 3.0% to DKK 62,503m, with reported volume growth of 5.3%. Tuborg volume grew 10%, Carlsberg was up 5%, Grimbergen rose 14% and 1664 Blanc increased 49%.
Craft and speciality volume was up 26%, while alcohol-free brew volumes in western Europe rose 33%. The company has initiated a 12-month share-buyback programme of DKK 4.5bn.
Chief executive Cees ’t Hart said, “We delivered a strong set of results for 2018. In line with our ambitions for SAIL’22, we accelerated top-line growth, improved margins, delivered a strong cash flow and reduced debt even further. At the same time, we invested significant resources in our brands and activities and we continue to target top-line growth and profit improvement in the coming years.”