Danish brewer Carlsberg reported third quarter sales topped forecasts thanks to a strong performance in Asia. Carlsberg’s sales in the third quarter came in at 18.5 billion Danish krones ($2.76 billion), above the 18.2 billion forecast by the 22 analysts in a poll compiled by Carlsberg. The company did not disclose earnings figures and maintained its annual profit outlook, but said a positive currency impact on operating profit was now seen at around 150 million , up from 100 million previously.
Carlsberg also revealed that it had agreed to buy the remaining 25% stake in Cambrew brewery in Cambodia, that it does not already own, and rejuvenate its largest beer brand, Angkor Premium Beer.
“The business environment in Cambodia is a substantial task and it requires significant market investments, time and patience,” Heine Dalsgaard, Carlsberg’s chief financial officer, said.
Carlsberg did not disclose the price of the stake, but Dalsgaard said according to Reuter that the price was similar to what it paid for a 25% stake in the Cambodian brewery last year, which according to its annual report was 1.35 billion Danish krones ($201.85 million).
Cambrew is one of the largest brewers in the Kingdom of Cambodia. The takeover follows a launch earlier this of an upgraded Angkor Premium Beer with a new look and other improvements.
Angkor Premium Beer was first brewed in 1992 and has received multiple awards in international competitions, including a recent Gold Award from Monde Selection.
“The changes include several improvements to the packaging and recipe” said Mr. Michael Norgaard Jensen, Cambrew managing director.
“We aimed to create a fine-tuned liquid that both stays true to its original Khmer taste and lives up to the more demanding taste buds of today’s Cambodian consumers,” told Khmer Times.
Mr Norgaard Jensen said their Sihanoukville factory can produce up to 12 million hectolitres.
“We introduce the upgraded Angkor Premium Beer today to appeal to a new generation of Cambodia beer drinkers – among them millions of its loyal consumers – who value quality and have become a bit more curious about the beer they are drinking,” he said, adding that the beer is exported to different markets in Asia and Europe.
“The new, best-in-class look of Angkor Premium Beer, the best in its history, is a testament to our constant pursuit of brewing better beer and our unwavering passion to innovate and give consumers new, exciting experiences,” he added.
He said that creating a new Angkor Premium Beer is part of Cambrew’s bold plan to solidify the brand’s reputation as vibrant and innovative.
“Leveraging the strong brand equity of Angkor Premium Beer, we set out to ensure a superior-tasting premium beer of exceptional quality, and to further improve brand experiences for, and exceed the expectations of, a new generation of ever more discerning beer drinkers in Cambodia,” he said.
Cambrew’s products include Klang and Black Panther, as well as international premium brands such as Carlsberg, Tuborg, Kronenbourg 1664, and Somersby. Guinness, Asahi, and PepsiCo drinks are also brewed at its Sihanoukville facility.
The company did not disclose earnings figures and maintained its annual profit outlook, but said a positive currency impact on operating profit was now seen at around 150 million crowns, up from 100 million previously.