Ringnes Brews Record Sales, But Profits Still Down

Despite achieving record sales in 2024, Norwegian brewery Ringnes faces a fifth consecutive year of declining pre-tax profits, signaling challenges in the face of rising costs. The company, owned by Danish Carlsberg Breweries, is adapting to an evolving market.

Sales Soar, Profits Dip

In 2024, Ringnes saw sales surpass NOK 6.4 billion, marking a new high for the brewery. However, the pre-tax profit for the year reached NOK 872 million, a decrease from NOK 925 million in 2023 and NOK 1 billion in 2022. This marks a continued downward trend.

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“The company is noticing the effect of the cost increase,”

—Marianne Ødegaard Ribe, CEO of Ringnes

The cost of goods has more than sextupled from NOK 16 million to NOK 98 million (Statistics Norway, 2024).

Expenses on the Rise

Costs at Ringnes rose to NOK 5.73 billion in 2024, up from NOK 5.23 billion the previous year. Increased expenses for goods, raw materials, and packaging largely contributed to this. Ribe highlighted the challenges, yet expressed satisfaction with the overall results.

Despite the negative pre-tax trend, Ringnes is still investing heavily in its production capacity to meet market demands. This includes a major upgrade at the Gjelleråsen facility, scheduled for completion in the first quarter of 2027.