Carlsberg （CARLb.CO）First Take： Solid organic EBIT growth in H1 despite A&P step~up； guidance raised
Goldman Sachs·2024-08-14 02:51
14 August 2024 | 12:28AM BST 2131d4eaf4cb4d50b1d51c8af07b64b4 Carlsberg (CARLb.CO): First Take: Solid organic EBIT growth in H1 despite A&P step-up; guidance raised Carlsberg reported strong H1 organic EBIT growth at +4.6%, in-line with company-compiled consensus. Group reported a strong +160bps gross margin expansion to 46.3% (vs Visible Alpha Consensus Data 45.6%) allowing it to increase marketing spend by 20% y/y. CEE&I grew EBIT organically by +14.1% (vs +6.4% cons), while Asia increased by +5.3% (vs +5 ...