Estonia: Saku Brewery’s sales down 11%, profit down 18.5% in 2022

Estonia’s biggest beer producer, Saku Õlletehas (Saku Brewery), reported sales of EUR 72.3mn in 2022, which was down 11% from 2021, ERR reports. The company’s annual net profit amounted to EUR 6.6mn, which was down 18.5% from a year earlier. The company attributed the worse results to the cessation of exports to Russia and Belarus, as well as to higher prices for many inputs caused by the war in Ukraine. Domestic sales rose by 3%, while export sales fell by 48%. Retail beer sales in Estonia decreased by 4%, but sales to restaurants and hotels increased by 45%. Saku Õlletehas is part of Denmark’s Carlsberg Group.