DENMARK – Danish multinational brewer Carlsberg has posted what it describes as a “strong set of results” registering a 27% growth in the first half of the year’s revenue even as the global business uncertainties remain high.

The Somersby cider-owner’s revenue grew to DKK35.4bn (US$4.83bn), had operating profit for the half year up by 31.8% to DKK6.4bn (US$875m) while its liquor volumes increased by 8.9% to 64.2 million hectoliters.

Carlsberg booked a first-half net loss of DKK5.28bn (US$720m), hit by impairment charges linked to operations in Russia, Ukraine, and eastern Europe, which the company recognized in March.

As a consequence of the invasion of Ukraine and its financial books running losses, Carlsberg has stated it has the intention to sell its Russian operations.

The company has also revealed to reopen the three sites in Ukraine where it had halted production at the start of the war.

Carlsberg CEO Cees ‘t Hart said: “Global uncertainty remains high, with the increasing input cost pressure a particular challenge for us in the coming quarters.”

In this environment, we’ll continue to seek the right balance between mitigating the short-term challenges and investing in the long-term opportunities.”

The Copenhagen-based brewer wants “a 35% global portfolio share for low-alcohol and alcohol-free brews by 2030”.

Carlsberg to be net zero carbon emitter by 2040

Alongside the financial announcement, Carlsberg has pledged to build on an earlier set of targets announced in 2017 to achieve net zero carbon emissions from its “entire value chain” by 2040.

The target is part of a new ESG programme drawn up by the Denmark-based brewer, which also takes in areas including water use, packaging, and low- and no-alcohol products.

Whilst we remain committed to the focus areas that we established in 2017, Carlsberg has expanded the programme to include a wider array of ESG topics and to address the societal challenges impacting people and communities where it operates, Cees ‘t Hart added.

The company has set emissions targets across its entire production and supply chain and plans a host of improvements, such as converting brewing boiler systems from natural gas to renewable thermal fuels.

Further up the supply chain, Carlsberg plans to introduce regenerative agriculture, which, the brewer said, will “improve soil quality while capturing and storing carbon”.

The group is aiming to produce 30% of all raw materials through regenerative practices by 2030 and 100% by 2040.

On water, the beverage giant is targeting the “replenishment” of all the water used at breweries that are “located in areas of high-water risk” by 2030.

The Kronenbourg brewer’s efforts on packaging are also part of the 2040 target of achieving “zero packaging waste”, by making all its cans and bottles “recyclable, reusable or renewable”.

Carlsberg said it will invest in bio-based materials and in the development of circular systems, including supporting deposit return schemes.

In June, Carlsberg started a major trial of a bio-based fiber bottle, placing it in the hands of European consumers for the first time.

The company explained that the new targets will help it build on the already made “strong progress”, pointing to a 40% cut in carbon emissions and a 21% reduction in the amount of water used per hectolitre of beer since 2015.

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