2023-10-27 18:09:29
The Haacht brewery recorded a loss of 1.1 million euros in the first half of 2023, according to the half-year results published by its parent company Co.Br.Ha on Friday evening. Strong cost inflation and below-expected revenue growth pushed the net result into the red.
The sale of beers produced by the Haacht brewery (Primus, Tongerlo, Super 8, etc.) on the Belgian market fell by 4.5% over the first six months of the year. At issue: the end of Covid-19 support measures for the Horeca sector, which led to a sharp increase in bankruptcies in the sector.
In other markets as well, volumes sold fell, partly due to the sale of unprofitable products. The overall volume sold, however, remains stable compared to the same period in 2022.
“Sales in France increased significantly, which neutralized the decline in Belgium and exports,” underlines the Haacht brewery in a press release.
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The brewing company’s turnover increased by 9.9% on a half-year basis, despite a drop in rental income. Beverage sales grew by 11.8%, mainly due to higher prices. However, operating costs also increased, by 22.1%.
The evolution of turnover, which remains below expectations, combined with strong cost inflation, led to a net loss of 1.1 million euros. Last year, the Haacht brewery made a profit of 4.7 million euros in the first half.
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“We expect a stabilization of sales for the end of the year (October-December) compared to 2022. A reduction in a number of important operating costs (raw materials, consumables, energy) is expected at first quarter of 2024. Due to changing market conditions, a thorough cost review is being carried out and commercial policy is being adjusted, with the aim of restoring profitability and profits in 2024,” the brewery announces.
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