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Edge16 Oct 2026
Winner, Winner: The Chicken McNugget Story
How a 1940s breeding contest, a Cornell food scientist, and a hedge by Ray Dalio helped McDonald's turn the Chicken McNugget into a fast-food icon.
Carlsberg Group
Carlsberg Group (CARL) investor relations material
Carlsberg Group Q3 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2026 earnings summary29 Oct, 2026
Executive summary
Q3 organic revenue grew 3.0% and reported revenue rose 4.9% to DKK 25,281m; organic volume increased 0.3% and revenue/hl rose 3%.
Growth-category volumes increased 5%; performance was strong in CEE&I, while Asia declined, led by China.
FY2026 organic operating profit growth guidance remained 4–6% on the 2025 CPM base of DKK 13,686m.
Financial highlights
Revenue growth comprised 3.0% organic growth, 1.8% positive currency impact and 0.1% acquisition impact.
Revenue/hl rose 3%, with positive price and mix in Western Europe (+2%), Asia (+2%) and CEE&I (+4%).
Soft drinks and other beverages grew 8.5%; soft drinks volumes increased 9%, alcohol-free brews 11%, Beyond Beer 3% and Pepsi 18%.
Premium beer volumes excluding China grew mid-single digits, while total premium beer volumes declined 3%.
Outlook and guidance
FY2026 organic operating profit growth guidance remained 4–6% on the 2025 CPM operating profit base of DKK 13,686m.
At 28 October spot rates, the expected 2026 operating profit translation impact was DKK +100m, versus no impact previously.
Guidance assumptions include net finance costs excluding FX of DKK 1.8bn, a reported tax rate of 23% and CapEx of DKK 6–7bn.
2027 COGS and logistics costs are expected to rise versus 2026, with inflation below 2022–23 levels; efficiencies and pricing are intended to protect margins.
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Latest events from Carlsberg Group
- AGM approved a DKK 24.00 dividend and elected two new Supervisory Board members.CARL
AGM 2022 - AGM approved a DKK 27 dividend and rejected the human rights reporting proposal.CARLAGM 2023
- AGM approved a DKK 27.00 dividend, board appointments and cancellation of treasury shares.CARLAGM 2024
- Raised full-year profit guidance after strong H1 growth, synergy delivery, and partnership expansion.CARLQ2 2026
- Record growth, Britvic integration, and soft drinks expansion drive future value creation.CARLCorporate presentation
- 2025 profit distribution approved with a record DKK 29.00 per-share dividend.CARLAGM 2026
- AGM approved all proposals amid strong results, acquisitions and a DKK 27 dividend.CARLAGM 2025
- Growth targets, margin recovery, and disciplined cost management drive multi-beverage expansion.CARLCMD 2025
- Revenue up 17.4% on Britvic deal; organic revenue down 1.5%, profit outlook steady.CARLQ1 2025
Next Carlsberg Group earnings date
Q4 20263 Feb, 2027
Carlsberg Group
Next Carlsberg Group earnings date
Q4 20263 Feb, 2027
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Frequently asked questions
Carlsberg A/S operates in the production and sale of beer and other beverage products. The company offers beer, cider, sparkling drinks and water brands. The beverage portfolio includes brands such as: Carlsberg Group, Tuborg, Kronenbourg, Somersby Cider, Grimbergen, Somersby Apple Cider and Safbrew. It also provides hefeweizen beer under the Jacobsen brand; and Carlsberg Radler under the Jacobsen Old Fashioned brand. In addition, it distributes a number of beverages from other breweries like Heineken and Anheuser-Busch InBev.