Solid start to the year
Highlights
- Organic net revenue growth of 2%.
- Price/mix of +4%.
- Total volumes declined organically by 2% to 29.3m hl.
We announced the Group’s new strategy, SAIL’22, in March and have taken the first steps in support of the strategic priorities and to embed the necessary changes throughout the organisation.
The benefits of Funding the Journey are coming through as planned.
2016 earnings expectation maintained
- Organic operating profit growth by low-single-digit percentages is maintained.
- A negative translation impact of DKK 550m is now expected (previously DKK 600m).
Commenting on the results, CEO Cees ‘t Hart says: “In the seasonally small first quarter, we delivered a solid start to the year. Applying our new value management approach, we are on our way to strike a better balance between market share, gross margin and earnings. We maintain our full-year outlook for organic operating profit growth.
“We announced and started the implementation of our new strategy, SAIL’22. We continued to implement initiatives under the Funding the Journey and are focused on a timely and full delivery of the expected net benefits.”