Belgium: Haacht Brewery facing difficulties as beer sales decline

Belgium’s Haacht Brewery is facing difficulties as beer sales declined by 8.4% last year, marking the second consecutive year of decrease, The Brussels Times reported on April 9.

Revenue dropped by 5.7% in 2024, while the loss nearly doubled to 8.2 million euros, according to parent company Co.Br.Ha’s announcement on Tuesday before the stock market opened. The company proposes not to distribute any dividends this year.

The brewer of beers such as Primus, Tongerlo, Super 8, and Charles Quint has initiated a transformation plan towards sustainable recovery.

At the end of last year, Brewery Haacht announced plans to cut twenty jobs. Tuesday’s press release also stated that its credit agreements have been reaffirmed to "continue the transformation with the necessary financial space."

Last year’s revenue was 112.1 million euros, 6.8 million less than in 2023, with significant sales declines in Belgium (-4.9 million). To achieve revenue growth, partnerships have been announced with French brewery Brique House and concert venues AB and Wintercircus in Belgium. New products aligned with current consumer trends are also in the pipeline.

Haacht Brewery operates in four core markets: Belgium, France, Italy, and the Netherlands. The company notes that beer consumption is decreasing in Western Europe, with a shift from hospitality to home consumption. "This makes the ambition for revenue growth even more challenging," the company commented.

This year saw a positive sales start in France and the Netherlands, but Belgian sales in the first quarter fell short of expectations. "Market conditions remain uncertain and challenging," the press release concluded.

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