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Drop in Russian Beer Sales Hurts Carlsberg

Published: August 21, 2014 (Issue # 1825)



  • Carlsberg's full-year net profit was expected "to decline by mid- to high-single-digit percentages."
    Photo: Carlsberggroup.com

COPENHAGEN, Denmark — Beer sales in Russia, Ukraine and other Eastern European countries are down and expected to keep falling as political tensions weigh on the region's economy, brewer Carlsberg said Wednesday.

The Danish company owns a range of brands across the world, including Baltika Breweries, based in its vast Russian market. Consumers there are drinking less due to uncertainty about the country's economy, which some experts estimate is sliding into recession.

Beer consumption dropped 7 percent in Russia and 10 percent in Ukraine, where the government is accused of supporting a militant separatist rebellion. Adding to Ukraine's market woes was a 43-percent increase in the beer tax as the government there tries to steady its public finances.

Carlsberg said its Eastern European markets overall are "increasingly challenging and uncertain," and expects them to deteriorate further in the second part of 2014 especially with more consumption declines in Russia and Ukraine.

The Copenhagen-based group said that "regardless of the challenging Russian macro-economy, we kept investing in our brands and maintained a high level of commercial activities to drive value and volume in the region."

The uncertainty kept a lid on sales growth, with Carlsberg's overall revenue edging up only slightly in the second quarter, to 19.2 billion kroner ($3.4 billion) from 19.06 billion kroner in the year-earlier period. Net profit increased to 2.2 billion kroner ($39.4 million), from 2.1 billion kroner.

Carlsberg's full-year net profit was expected "to decline by mid- to high-single-digit percentages."

Shares in Carlsberg dropped nearly 4.3 percent to 516 kroner in early morning trading Wednesday in Copenhagen.





 


ALL ABOUT TOWN

Thursday, Nov. 27


The Customs and Transportation Committee for AmCham meets this morning at 9 a.m. in their office on Ulitsa Yakubovicha.


Tickets are still available for local KHL team SKA St. Petersburg’s showdown with Siberian club Metallurg Novokuznetsk tonight at 7:30 p.m. in the Ice Palace outside the Prospekt Bolshevikov metro station. Tickets can be purchased on the team’s website, at the arena box office or in their merchandise store on Nevsky Prospekt.


Celebrate one of Russian literature’s most tragic figures during Blok Days, a two-day celebration of the 134th anniversary of the poet’s birthday. The tragic tenor’s work, which led to writer Maxim Gorky to hail him as Russia’s greatest living poet before his death in 1921, will be recited and meetings and discussions about his contributions to the Silver Age of literature in St. Petersburg will be discussed in the confines of his former residence.



Friday, Nov. 28


Join table game aficionados at the British Book Center’s Board Game Evening. Held every Friday at 5 p.m., aficionados and amateurs alike can come take part in a variety of different games that test one’s intellect and cunning.



Saturday, Nov. 29


Cats, dogs, birds, rodents and reptiles are just some of the things that will walk and crawl at Lenexpo convention center this weekend as part of Zooshow, a two-day exhibition featuring not only man’s best friends but a four-legged fashion show, as well as a food fair that will help pet owners find out more about which kibbles are best for their hungry pets.



Sunday, Nov. 30


Remember the 75th anniversary of the beginning of the Russo-Finnish war in 1939 during today’s reenactment titled “Winter War: How it Was.” More than 200 people will take part in recreating the opening salvoes of the battle for the north in Kamenka, a small village situated between Vyborg and St. Petersburg, using authentic equipment and vintage vehicles from the era. The faux battle begins at 2 p.m.



Monday, Dec. 1


Serbia filmmaker Emir Kusturica is the featured guest this evening at the Lensovet Palace of Culture the Petrograd Side. Fans of the director will get the chance to watch his movie “Black Cat, White Cat,” as well as ask questions about his award-winning filmography. Tickets for the event, which starts at 7 p.m., start at 2,000 rubles ($42.50).



Tuesday, Dec. 2


Today is the final day of “Takoy Festival,” a three-week program of plays based on the works of Dostoevsky, Remarque and other famed European writers, whose work is transcribed for theatrical performances. Tonight’s festival finale is “Fathers and Sons,” a two-act drama staged by the Novosibirsk Academic Drama Theater based on Turgenev’s classic about familial relations.



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