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.
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