Carlsberg has reported stronger-than-expected profits, driven by cost efficiencies from its £3.3 billion takeover of Britvic that are ahead of schedule. The Danish brewer said it has already achieved around 30% of the projected £110 million in savings from the integration, which was completed early last year.
Operating profits increased by 22.7% to 14 billion Danish krone (£1.6 billion) in 2025, while overall sales volumes grew 17.7% and total revenues rose 18.8% year-on-year. However, organic volumes fell 0.6% after accounting for the loss of the contract to brew and sell San Miguel lager in the UK.
The San Miguel contract ended last year when parent company Mahou San Miguel passed the UK licence to AB InBev. Despite this setback, Carlsberg's group chief executive Jacob Aarup-Andersen highlighted the successful integration of Britvic and progress in other markets.
“Navigating a challenging consumer environment, we successfully integrated Britvic, prepared to take over a substantial soft drinks business in Central Asia, achieved positive results for our growth categories and accelerated growth in India,” Aarup-Andersen said. He added that the combination of beer and soft drinks is unlocking new opportunities for growth and value creation.
