For the second consecutive year, Budvar, a Czech brewer engaged in a legal battle with Anheuser-Busch over the use of the Budweiser name, had a 10% increase in net profit.
(AP) PRAGUE — The Czech brewer Budvar, which has been engaged in a protracted legal battle with American beer tycoon Anheuser-Busch over the use of the Budweiser trademark, witnessed record production and exports despite the coronavirus outbreak, resulting in a 10% increase in net profit for the second straight year.
The 126-year-old state-owned brewery Budejovicky Budvar NP reported that its net profit increased to 337 million Czech crowns ($14.4 million) in 2021 from 305 million the year before. In 2020, its net profit increased by almost 10%.
In 2021, its exports increased by a record 11% to 1.3 million hectoliters (34.3 million gallons). More than 70 countries sell Budvar beer, with Germany being one of its key export markets.
Additionally, Budvar saw record production for the second consecutive pandemic year, with a 4.6% increase to 1.8 million hectoliters (47.8 million gallons).
Due to bars and restaurants closing temporarily due to the pandemic, demand for beer in tanks and barrels decreased while demand for bottled beer increased.
The brewer now produces more than 2 million hectoliters (52.8 million gallons) of beer per year thanks to recent expansion. It was able to respond to market shifts caused by the pandemic thanks to that investment.
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