Britvic delivers strongly for Carlsberg since acquisition

Britvic has delivered strong results for the Carlsberg group in the second quarter of this year, with mid-single-digit percentage volume and revenue growth in the UK and Ireland.

Following completion of the £3.3b acquisition in January, the soft drinks arm has recorded revenue of DKK7.3b (£840m) and operating profit of DKK844m (£97m).

Carlsberg reported the Britvic integration remains on track and maintains its expectation of a £250m full-year operating profit contribution from the division.

The Danish brewer’s CEO Jacob Aarup-Andersen said: “We’re pleased with the underlying Britvic performance in the key UK and Ireland markets. The business integration is progressing well and according to plan, making us excited about the long-term value creation from this acquisition.”

After having a ‘soft start’ to the year, the group’s overall results for the first half of the year showed high reported volume growth of 16%, driven by the performance of premium beer, which was up by 5%, and alcohol-free brews, which rose by 7%.

The Britvic acquisition positively impacted revenue growth, with a global uptick of 18.2%, reaching nearly DKK45.9b (£5.3b).

However, although operating profit rose 15.1% to DKK7.2b (£834m), this was slightly below the expected DKK7.3b (£842m).

Carlsberg revised its 2025 full year earnings guidance to the upper end of its previous prediction, from 1 to 5% to now being 3 to 5%.

Aarup-Andersen added: “The group delivered solid results in a difficult half year, with good market share development in all three regions, particularly in Western Europe, driven by good progress for premium beer, alcohol-free brews and soft drinks.

“We don’t expect the consumer environment to improve over the remainder of the year. Nevertheless, we’re continuing our long-term investments in key brands and capabilities, including in areas such as digital, marketing and value management, to create an even stronger Carlsberg.”

The Britvic acquisition made the UK the Carlsberg Group’s largest market by revenue in the world, as well as creating the largest multi-beverage supplier in the UK.

Earlier this year, Carlsberg Britvic’s Tim Downes, category, revenue growth management and insights director said the business is “open to exploring emerging spaces” and further expanding in the drinks market.