The Consumer Staples group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Has Carlsberg AS (CABGY) been one of those stocks this year? A quick glance at the company's year-to-date performance in comparison to the rest of the Consumer Staples sector should help us answer this question.Carlsberg AS is one of 193 companies in the Consumer Staples group. The Consumer Staples group currently sits at #13 within the Zacks Sector Rank. The Zacks ...

Diageo PLC (LSE:DGE), the spirits company, has been downgraded from a ‘buy’ to ‘neutral’ by analysts at the Bank of America. The US bank expects the beverage sector to face a tough 2024 due to suppressed consumer spend on both sides of the Atlantic, foreign exchange headwinds and the risk of tariffs on Cognac in China. “We downgrade to Neutral because we expect the US, which is key to sentiment and to valuation, to remain lackluster and disappoint, holding back rerating,” the bank explained. Industry growth ...

Carlsberg A/S (OTCPK:CABGY) Q3 2023 Earnings Conference Call October 31, 2023 4:30 PM ET Company Participants Jacob Aarup-Andersen - Chief Executive Officer Ulrica Fearn - Chief Financial Officer Conference Call Participants Andrea Pistacchi - Bank of America Merrill Lynch Simon Hales - Citigroup Inc. Edward Mundy - Jefferies Trevor Stirling - Bernstein Søren Samsøe - SEB Olivier Nicolai - Goldman Sachs Mitch Collett - Deutsche Bank Laurence Whyatt - Barclays Chris Pitcher - Redburn Atlantic André Thormann ...

artshera 1 Q3 2023 TRADING STATEMENT p 7 p by Disclaimer FORWARD-LOOKING STATEMENTS This presentation contains forward-looking statements, including statements about the Group's sales, revenues, earnings, spending, margins, cash flow, inventory, products, actions, plans, strategies, objectives and guidance with respect to the Group's future operating results. Forward-looking statements include, without limitation, any statement that may predict, forecast, indicate or imply future results, performance or ach ...

Financial Data and Key Metrics Changes - Revenue growth was strong at 11%, driven by a 10% improvement in revenue per hectoliter, attributed to premium brand growth and price increases across all markets [4][26] - Organic operating profit growth was 5%, with adjusted earnings per share for the continuing business increasing by 0.2% despite adverse foreign exchange movements [4][26] - Free operating cash flow was DKK 4.3 billion, down from DKK 7 billion in 2022, primarily due to adverse foreign exchange movements [31][32] Business Line Data and Key Metrics Changes - Premium portfolio grew by 3%, with a 5% increase in both Asia and Central and Eastern Europe, while Western Europe saw a 2% decline due to down-trading [7][11] - Non-beer volumes grew by 2%, driven by strong performance in soft drinks, with revenue per hectoliter increasing by 12% [13] - Operating profit in Central and Eastern Europe grew organically by 8%, supported by strong revenue per hectoliter growth of 19% [24] Market Data and Key Metrics Changes - In Asia, volumes grew by 4.8%, with organic revenue growth of 12% and operating profit increasing organically by 8% [19] - Western Europe faced challenges with low single-digit volume growth, impacted by high inflation and bad weather [14][18] - The Polish beer market declined by 7%, with consumers affected by lower disposable income, leading to significant down-trading [17] Company Strategy and Development Direction - The company is executing its SAIL'27 strategy, focusing on premium brand growth and long-term value creation [6][47] - Investments are being made in key brands and capabilities to drive sustainable growth, despite short-term challenges [38][39] - The company aims to increase its market share in China from 8% to 10% over the next few years, supported by a balanced portfolio [54][56] Management's Comments on Operating Environment and Future Outlook - Management upgraded the earnings outlook for organic operating profit growth for the year to 4% to 7%, citing better-than-expected performance [37][70] - High inflation in Europe and the ongoing war in Ukraine remain uncertainties that could impact consumer sentiment and volumes [39][70] - The company is optimistic about growth in China, despite macroeconomic challenges, and expects to continue premiumizing its portfolio [54][56] Other Important Information - The company signed a sales agreement for its Russian business, but a presidential decree has temporarily placed it under state management [5][41] - The fair value of net assets in Russia was DKK 5.7 billion as of June 30, with a write-down of DKK 1.2 billion due to reassessment [41][44] - The company has initiated a second quarterly share buyback program of DKK 1 billion due to solid performance and a healthy balance sheet [3][5] Q&A Session Summary Question: Outlook for China and consumer weakness - Management expressed optimism for China, noting a growing market share and strong performance in premium segments despite macroeconomic changes [53][54] - In Europe, while there are signs of consumer pressure, the company is outperforming in premium segments and gaining market share [57][58] Question: Input costs outlook for 2024 and cash flow - Input costs for 2024 remain uncertain, with 50% of commodities not yet hedged, but some costs like aluminum and barley are showing signs of decline [62][65] - 2022's cash flow was likely boosted by one-offs, suggesting that 2023 represents a more normalized cash flow environment [65] Question: Guidance for the second half and WuSu brand performance - Management reiterated guidance for mid- to high single-digit organic sales growth in China, with expectations for WuSu brand growth in the second half [79][75] Question: Premiumization in Europe - The company remains committed to premiumization strategies in Europe, despite challenges in specific markets like Poland due to high inflation [86]

Carlsberg A/S (OTCPK:CABGY) Q4 2022 Earnings Conference Call February 7, 2023 3:30 AM ET Company Participants Cees 't Hart - CEO Ulrica Fearn - CFO Conference Call Participants Andrea Pistacchi - Bank of America Merrill Lynch Olivier Nicolai - Goldman Sachs Trevor Stirling - Bernstein Simon Hales - Citi Sanjeet Aujla - Credit Suisse Laurence Whyatt - Barclays Soren Samsoe - SEB Mitch Collett - Deutsche Bank Andre Thormann - Danske Bank Richard Withagen - Kepler Chevreux Thomas Petersen - Nordea Operator Wel ...

| --- | --- | --- | --- | |---------------------|-------|-------|-------| | | | | | | FINANCIAL STATEMENT | | | | 1 Forward-looking statements This presentation contains forward-looking statements, including statements about the Group's sales, revenues, earnings, spending, margins, cash flow, inventory, products, actions, plans, strategies, objectives and guidance with respect to the Group's future operating results. Forward-looking statements include, without limitation, any statement that may predict, for ...

Carlsberg A/S (OTCPK:CABGY) Q2 2022 Earnings Conference Call August 17, 2022 3:30 AM ET Company Participants Cees 't Hart - Chief Executive Officer Heine Dalsgaard - Chief Financial Officer Peter Kondrup - Vice President, Investor Relations Conference Call Participants Andrea Pistacchi - Bank of America Laurence Whyatt - Barclays Trevor Stirling - Bernstein Nik Oliver - UBS Mitch Collett - Deutsche Bank Simon Hales - Citi André Thormann - Danske Bank Sanjeet Aujla - Credit Suisse Operator Ladies and gentlem ...

Financial Performance - Revenue reached DKK 35.4 billion, showing organic growth of 20.7%[3] - Operating profit increased to DKK 6.4 billion, a rise of 31.8%[3] - Adjusted EPS was DKK 35.9, up by 63.9%[36] - Total volume grew by 8.9% to 64.2 million hectoliters[3] - The operating margin was 18.2%, an increase of 170 basis points[35] Regional Performance - Asia experienced a total volume increase of 13.2%[26] - Western Europe saw a total volume increase of 10.2%[25] - Central & Eastern Europe experienced a total volume increase of 0.3%[27] Brand Performance - Carlsberg brand grew by 14%[7] - Alcohol-free brews volume growth was 7%[9] - Carl's Shop experienced volume growth of 84%[10] Financial Position - Operating cash flow increased by DKK 2.6 billion to DKK 8.38 billion[39] - Free cash flow was DKK 7.29 billion[39] - Net Interest-Bearing Debt (NIBD) declined by DKK 1.1 billion to DKK 18.09 billion[39] Russian Operations - An impairment charge of DKK 9.6 billion was recognized in March related to the intended sale of the Russian business[28] - The net result for H1 from Russian operations was a loss of DKK 8.6 billion[28]

Financial Data and Key Metrics Changes - The group reported total volumes grew organically by 7.4% and operating profit reached DKK10.9 billion, reflecting a 12.5% organic year-on-year improvement [5][22] - Total cash returns to shareholders amounted to DKK6.8 billion, an increase of nearly DKK800 million compared to 2020 [5] - Revenue increased organically by 10% and 13.8% in reported terms, with revenue per hectoliter growing by 3% [22][23] Business Line Data and Key Metrics Changes - Craft and specialty volumes increased by 15%, while alcohol-free brews grew by 17% [6] - E-commerce revenue reached DKK4 billion, up more than 50% from 2020, with business-to-consumer e-commerce revenue rising by around 40% [6] - Operating profit grew organically by 12.5%, with reported operating profit for 2021 being 4% above 2019 levels [22][24] Market Data and Key Metrics Changes - In Western Europe, on-trade volumes grew by 12%, with a significant recovery in H2 [7][8] - The Nordic markets saw high single-digit volume growth, with double-digit growth in Denmark and Norway [10] - Asia delivered a 12.1% volume growth, primarily driven by China and India, with operating profit growing by 23.9% [13][14] Company Strategy and Development Direction - The company announced its new SAIL'27 strategy, aiming for higher ambitions for top and bottom line growth [3][37] - Focus areas include premiumization, expanding alcohol-free brews, and exploring alcoholic categories beyond beer [50][52] - The strategy emphasizes a collaborative approach, engaging over 200 employees from various markets [40] Management's Comments on Operating Environment and Future Outlook - The management anticipates 2022 to be challenging due to ongoing pandemic impacts and rising input costs, estimating COGS per hectoliter to increase by 10% to 12% [30][31] - The company aims to offset higher costs through increased revenue per hectoliter from price increases and improved channel and product mix [31][68] - The effective tax rate is expected to be around 22% to 23%, with a focus on maintaining a conservative balance sheet [68] Other Important Information - Free cash flow improved significantly to DKK8.9 billion, driven by higher EBITDA and strong working capital inflow [27] - The company plans to increase the dividend per share by 9% to DKK24, maintaining a payout ratio of 49% [29] - The company will continue share buybacks, with a new program of DKK1 billion launched until April 2022 [29] Q&A Session Summary Question: Revenue activity and COGS headwinds - The company plans to cover COGS increases through revenue per hectoliter increases, with no significant impact on beer consumption observed from price increases [75][80] Question: Volume elasticity concerns - Management expressed caution regarding potential volume elasticity but noted no current impact on volumes, emphasizing the need to monitor brand, competitor, and general inflationary pressures [82]