Chile & Argentina: Chilean-owned CCU’s 2023 results impacted by economic crisis in Argentina
The Chilean-owned company CCU, owner of the Imperial and Heineken beer brands in Argentina, stated that it is feeling the impact of the economic crisis in Argentina, which has worsened due to the continuous financial adjustments since the inauguration of the new president, FreshlyBottled.com reported on April 15.
The Chilean company closed last year with a 5.4 percent drop in its turnover compared to 2022, as a result of a 3.4 percent decline in volumes sold and a 2 percent contraction in average prices in the year. However, a good part of this problem was attributed to the situation in Argentina, one of CCU's main international markets. In its report, it highlighted the drop in sales in the Argentinian market and the impact of the currency devaluation, among other factors.
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