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Carlsberg Q1 loss narrows YOY

Carlsberg A/S said its first-quarter normalized net income amounted to a loss of 20 Danish øre per share, compared with the S&P Capital IQ consensus estimate of 12 øre per share.

The per-share loss narrowed 45.9% year over year from 37 øre.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of 30.6 million kroner, compared with a loss of 62.1 million kroner in the year-earlier period.

The normalized profit margin increased to negative 0.2% from negative 0.5% in the year-earlier period.

Total revenue rose year over year to 13.47 billion kroner from 12.90 billion kroner, and total operating expenses grew on an annual basis to 12.91 billion kroner from 12.53 billion kroner.

Reported net income totaled a loss of 90.0 million kroner, or a loss of 59 øre per share, compared with a loss of 67.0 million kroner, or a loss of 44 øre per share, in the prior-year period.

As of May 12, US$1 was equivalent to 6.64 Danish kroner.