The Danish brewing company Carlsberg Group plans to sell all its assets in Russia before the summer, the company said, Report informs via TASS.
In 2022, we announced our decision to fully sell our business in Russia. We are successfully tackling this daunting task of shutting down the business and aim to sign the divestment agreement before the start of the summer,” the company noted.
The company’s report for the first quarter of 2023 also says that revenue in Russia grew by 10%, while volumes decreased by 5%.
Carlsberg reports earnings growth in the first quarter of 2023, including due to increased sales in Asia. The company's revenue rose to 16.4 billion crowns ($2.43 billion) from 14.9 billion crowns ($2.21 billion) in the same quarter last year.
Carlsberg Group announced the decision to sell all assets in Russia was in March 2022. At the same time, it stopped investments and exports to Russia, and ceased production, sales and advertising of the Carlsberg brand.