Denmark's Royal Unibrew beats Q1 EBIT estimates on margin expansion

Royal Unibrew A/S

21/04/2026 09:49

Overview

Denmark beverage producer's Q1 revenue rose 3.3% yr/yr, meeting analyst expectations

Q1 EBIT grew 25% and beat analyst estimates, driven by margin expansion and commercial performance

Company reiterated full-year outlook despite increased macroeconomic and geopolitical uncertainty

Outlook

Royal Unibrew reiterates 2026 organic EBIT growth outlook of 6-10%, or DKK 2,325-2,425 mln

Company expects 2026 net revenue broadly in line with 2025, reflecting exit from low-margin business

Company says outlook reflects ongoing macroeconomic uncertainty and pressure on consumer spending

Result Drivers

MARKET SHARE GAINS - Co said market share gains and solid commercial performance were driven by long-term focus on selected growth categories

VOLUME GROWTH - Q1 volume growth of 5.6% was supported by the timing of Easter, providing a positive calendar effect

MARGIN EXPANSION - Continued margin expansion attributed to operational efficiencies and improvements in net revenue per hectoliter

Company press release: ID:nGNE23sKR6

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Revenue
Meet
DKK 3.31 bln
DKK 3.31 bln (4 Analysts)
Q1 EBIT
Beat
DKK 273 mln
DKK 262 mln (4 Analysts)
Q1 EBITDA
Beat
DKK 468 mln
DKK 440.50 mln (2 Analysts)
Q1 EBITDA Margin
14.10%
Q1 EBIT Margin
8.30%
Q1 Gross Profit
DKK 1.34 bln


Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 10 "strong buy" or "buy", 5 "hold" and 1 "sell" or "strong sell"

The average consensus recommendation for the brewers peer group is "buy"

Wall Street's median 12-month price target for Royal Unibrew A/S is DKK673.00, about 21.9% above its April 20 closing price of DKK552.00

The stock recently traded at 16 times the next 12-month earnings vs. a P/E of 17 three months ago

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)