Brewer Mahou San Miguel Sees Turnover, Net Profit Decline In 2020
Spanish brewer Mahou San Miguel has reported a 10.5% decline in turnover in full-year 2020, to €1.25 billion, while EBITDA fell by close to half (43.7%), in a year in which the business was impacted significantly by the COVID-19 crisis.
The group said that its sales in the hospitality channel fell by 36.4% for the year, which was offset in part by an improved performance in the retail channel (+10%).
"Thanks to our solidity and financial prudence, we have managed to close 2020 above the forecasts we made with the arrival of the pandemic, keeping intact our commitment to our professionals, customers and distributors, and to the future sustainability of our business," commented Alberto Rodríguez-Toquero, director general, Mahou San Miguel.
During the year, the brewer allocated more than €200 million in supports for the hospitality industry, while also increasing its workforce by 10.1%.
It also maintained its commitment to sustainability, investing more than €14 million in environmental measures and other social actions, it said in a statement.
"In a difficult year for all of us, we have chosen to give up a greater benefit to fulfil our role as an active part of the economic recovery of this country," said Rodríguez-Toquero.
The business launched a major marketing campaign, which incorporated all its core beer brands – Somos Familia (We Are Family) – which both demonstrated its commitment to the sector and promoted responsible socialising.
The year also saw the business become the majority partner of North American craft brewer Founders Brewing, helping to boost its operations in the US, while outside of Spain, it also developed a plan to support hospitality businesses in 15 countries, including Portugal, Norway, Holland, Switzerland, Italy and Japan.
Looking ahead, Mahou San Miguel sees 2021 as a 'year of transition', in which it will seek to strengthen its position in both Spain and its key markets, and continue to support the trade.
“2021 will be a challenging year, but also full of opportunities," said Rodríguez-Toquero. "Today, we have to continue advancing our transformation strategy while responding with agility and flexibility to the reality that we have had to live through."
© 2021 European Supermarket Magazine – your source for the latest retail news. Article by Stephen Wynne-Jones. Click subscribe to sign up to ESM: The European Supermarket Magazine.