Carlsberg first-quarter beer sales fell 7%, anticipates further decline in second quarter
The first-quarter sales of Carlsberg (CARLb.CO) fell by 7% on Thursday. While the Dutch brewing company anticipates further decline in its second-quarter sales due to beer demand in grocery stores, it failed to consider the closure of pubs and diners amid the virus lock down.
Earlier this month, Carlsberg postponed support after sales in pubs and diners particularly in Western Europe were severely affected amid the virus outbreak. Carlsberg is the third largest brewer in the world after Anheuser Busch InBev (ABI.BR) and Heineken (HEIN.AS).
“While we’re starting to see signs of recovery in our largest market, China, and initial signs of governments cautiously lifting restrictions in some Western European markets, other markets remain in lockdown,” said Cees t’Hart, Chief Executive Officer of Calsberg.
“Social-distancing requirements will continue and will impact consumer behavior. Consequently, volumes will decline further in the second quarter,” he added.
Carlsberg beer sales came in at 12.9 billion Danish Crowns ($1.88 billion) between January and March. According to the company, some analysts anticipated 12.8 billion sales via poll.