Denmark: Carlsberg in 2020 severely hit by the pandemic

Danish brewing group Carlsberg was severely hit by the pandemic last years, according to the financial statement as at 31 December 2020 which was released today.

Last year’s volumes of its lead brands Carlsberg and Tuborg were down 10% and 9% respectively. Organic revenue and organic operating profit also decreased by 8.4% and 3.1%. However, the segment of craft & specialty beers grew by 1% and alcohol-free could even gain 11%. Carlsberg’s  CEO Cees ’t Hart already said last October to step up efforts in alcohol-free beer as this segment could triple to 15% market share in its very important market in Western Europe. (, 18.10.2020)

Mr. ’t Hart acknowledged now that “the COVID-19 pandemic has impacted lives worldwide and was a significant challenge for Carlsberg in 2020.

“While the pandemic is not yet behind us and we don’t know how long it will remain a challenge in 2021, we believe that Carlsberg will emerge even stronger from the crisis,” he added.

“During 2020, we adjusted our cost base to a new reality and implemented new ways of working. These changes have led to a more flexible company, making us optimistic about our ability to deliver on our longterm strategic priorities.

“The Group’s financial situation remains strong. Despite COVID-19, we improved our operating margin, delivered strong cash flow, increased dividend per share, carried out a sizeable share buyback programme and strengthened the business through acquisitions. We’re pleased that the Supervisory Board will recommend a further increase in the dividend for 2020 in addition to initiating a new share buy-back programme,” Mr. t'Hart was quoted as saying.

For more detailed results, please look here.

Share this article: