The Dutch brewer saw its net revenue fall by 11.9% to €19.72 billion in 2020. Operating profit for the full-year was €2.42 billion, representing an organic decrease of 35.6% as all regions witnessed declines amid the Covid-19 pandemic.
Loss in operating profit was in particular driven by performance in Europe – due to on-trade closures – Mexico, South Africa and Indonesia.
Operations in Mexico were suspended throughout most of the second quarter, while South Africa experienced a Covid-related suspension of all alcohol companies in Q2 and a ban on the sale of alcohol. Indonesia suffered from lockdown impacts throughout most of the year and the absence of international tourism in the key Bali region.
This story is from the February 2021 edition of Food Marketing & Technology - India.
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This story is from the February 2021 edition of Food Marketing & Technology - India.
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