Carlsberg raises profit guidance on Britvic synergies

Danish brewer Carlsberg has raised its full-year organic operating profit growth guidance to a range of 4% to 6%, up from its previous forecast of 2% to 6%. The company attributed this optimism to disciplined cost management and faster-than-expected synergies resulting from its acquisition of Britvic.

Carlsberg expects to realize approximately 50% of the total anticipated £110 million in synergies from the Britvic deal by 2026, exceeding previous estimates of 30% to 40%. Despite the positive outlook, the company reported a first-half operating profit of 7.45 billion Danish crowns (€991 million), which slightly missed analyst expectations.

During the first half of 2026, organic revenues rose 2.8% to 47.1 billion DKK. Growth was supported by a 9% increase in soft drink organic sales and an 11% rise in alcohol-free brews. While volumes grew in Central & Eastern Europe and India, growth remained flat in Western Europe and Asia. CEO Jacob Aarup-Andersen noted that the company achieved solid performance despite a continued uncertain macroeconomic environment.