Carlsberg H1 2026 results: solid top-line growth, faster-than-expected Britvic delivery, and a Sapporo deal signed

Carlsberg Group reported its H1 2026 financial results on 19 August 2026, covering the six months to 30 June. Revenue grew 2.6% to DKK 47,053 million, with organic revenue growth of 2.7%. Operating profit (Carlsberg Performance Measure) grew 4.5% to DKK 7,448 million – 5.9% organically. Operating margin improved 30 basis points to 15.8%. Net profit reached DKK 4,288 million, up 6.0%, with earnings per share of DKK 32.4. Free operating cash flow improved to DKK 3,694 million from DKK 2,918 million in H1 2025. Financial leverage (NIBD/EBITDA) reduced to 3.0x, down from 3.28x at the end of FY2025.