Carlsberg now expects 'mid-single-digit' contraction in Russian beer market in 2014 after previously forecasting 'low-single-digit' decline, as uncertain macro situation in eastern Europe having further negative impact on economies and consumer sentiment

Nevin Barich

Nevin Barich

MOSCOW , May 7, 2014 () – Danish brewing giant Carlsberg, the largest beer producer in Russia, has revised its 2014 forecast for the Russian beer market downward.

Carlsberg now expects a "mid-single-digit" contraction in the Russian beer market in 2014, the brewer said in its financial statement as of March 31 published on Wednesday. It had previously forecast a "low-single-digit" decline.

"The uncertain macro situation in Eastern Europe is having a further negative impact on the economies and consumer sentiment," the report says.

Ruble weakening had a negative impact on the brewer's operating profit in the first quarter, it adds.

Carlsberg saw beer sales in Russia fall 7% in 2013, the company said earlier. The Russian market fell 8% due to outlet restrictions and a slowdown in economic growth.

The company accounted for up to 38.6% of the Russian market in terms of value last year, up from 38.2% in 2012. The company did not disclose its physical share of the market. Carlsberg raised wholesale prices in Russia on four occasions last year.

Carlsberg is one of the largest beer brewers in the world. Its portfolio includes more than 500 brands, including Carlsberg, Tuborg, Kronenbourg 1664, Baltika and others, and its products are sold in more than 150 countries. Carlsberg sales fell 0.6% in 2013 to 119.7 million hectoliters of beer. The company's revenue grew 0.1% last year to 66.6 billion kroner, or $12.3 billion.

Jh of

(Our editorial staff can be reached at eng.editors@interfax.ru)

(c) 2014 Interfax Information Services

* All content is copyrighted by Industry Intelligence, or the original respective author or source. You may not recirculate, redistrubte or publish the analysis and presentation included in the service without Industry Intelligence's prior written consent. Please review our terms of use.

Share:

About Us

We deliver market news & information relevant to your business.

We monitor all your market drivers.

We aggregate, curate, filter and map your specific needs.

We deliver the right information to the right person at the right time.

Our Contacts

1990 S Bundy Dr. Suite #380,
Los Angeles, CA 90025

+1 (310) 553 0008

About Cookies On This Site

We collect data, including through use of cookies and similar technology ("cookies") that enchance the online experience. By clicking "I agree", you agree to our cookies, agree to bound by our Terms of Use, and acknowledge our Privacy Policy. For more information on our data practices and how to exercise your privacy rights, please see our Privacy Policy.