International Companies
Carlsberg reports solid soft drinks, alcohol-free growth in Q1
By Benjamin Chiou
Date: Wednesday 29 Apr 2026
(Sharecast News) - Danish brewer and beverages group Carlsberg reported solid organic volume growth in the first quarter, with solid gains in the soft drinks, alcohol-free and premium beer markets, as well as a return to growth in Asia.
Volumes were 5.3% higher than last year at 35.1m hectolitres, rising 2.8% on an organic basis, the company said on Wednesday.
Beer volumes rose by just 0.4% organically to 23.4m hl, with growth in Asia (+2.2%) and the Central and Eastern Europe/India regions (+0.4%) just offsetting a 3.1% drop across Western Europe. However, premium beer volumes were up 3%, mainly due to solid growth for the Carlsberg and Tuborg brands.
Meanwhile, volumes across the soft drinks and other beverages division jumped 16.5% to 11.7m, with nearly half of that growth coming from the net impact of acquisitions during the year, while organic volumes rose 8.4%.
Soft drink volumes in particular grew 10% organically, while alcohol-free brews volumes were up 7%. That offset a 2% decline in volumes in the Beyond Beer category, which includes Carlsberg's cider, hard seltzers, cocktails and other non-alcoholic drinks.
Looking ahead, the company confirmed its 2026 guidance for 2-6% organic growth in operating profit.
"We delivered a good start to 2026 with organic volume and revenue growth in all three regions, strong results for our strategic category growth drivers - premium beer, soft drinks and alcohol-free brews - and a return to solid growth in our Asia region," said chief executive Jacob Aarup-Andersen.
Shares in Copenhagen were up 2.5% at DKK835.80 by 1003 BST.
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