Food, Beverage & Tobacco Danish Community

Key Financial Results (Q1 2025) Reported net sales : DKK 2.0 billion ( +1.3% year-over-year ). Organic net sales growth : -8.8% , due to: Lower consumption of handmade cigars in the U.S. End of online distribution of ZYN in the U.S. Temporary supply issues caused by SAP implementation in European factories.

Key Takeaways Focus on premium, high-margin beverages and international market expansion aligns with consumer trends, reducing risk and supporting sustainable growth. Supply chain optimization and strategic portfolio shifts drive efficiency, improve margins, and enhance the ability to return capital to shareholders.

Key Takeaways Bold investments in brand, premium offerings, and emerging markets are driving superior growth, market share gains, and expanding margins beyond consensus expectations. Sustainability leadership and supply chain digitization are supporting higher profitability, investor appeal, and long-term earnings power through operational and funding efficiencies.

Key Takeaways Innovations in automation and sustainability position Schouw for enhanced cost competitiveness and stable margins as regulatory and dietary trends shift globally. Strategic portfolio moves and financial discipline support investment flexibility, unlocking growth and value in key markets and subsidiaries.

Key Takeaways Expansion in premium and health-focused beverage segments, plus entry into new categories, is driving sustainable revenue and margin growth across diverse markets. Digital transformation, supply chain efficiencies, and sustainability investments are reducing operating costs and regulatory risks while supporting profit growth.

Key Takeaways Integration of key acquisitions and digital transformation are boosting operating efficiency, margins, and long-term earnings potential. Expansion in direct-to-consumer channels and less-regulated products supports revenue growth, diversification, and margin resilience amid regulatory and market pressures.

Key Takeaways Ongoing shifts toward health consciousness, rising regulations, and environmental mandates are constraining Carlsberg's revenue growth, profitability, and investment capacity across core and new markets. Macroeconomic uncertainty, currency volatility, input cost inflation, and increased retailer power are heightening earnings and margin risks, especially in key Asian markets.