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Denmark’s Carlsberg, which has 8,400 employees in Russia, said it was seeking to “completely phase out” its business, but would keep operations at a low level “to preserve the livelihoods of these employees and their families” until the sale is complete.
“The war in Ukraine, the escalating humanitarian crisis and the refugee crisis shocked us all. We continue to strongly condemn the Russian invasion, which led to massive loss of life, destruction and human tragedy,” said Carlsberg CEO Cees’t Hart. in the current situation.
Carlsberg’s Russia reported revenue and operating profit of 6.5 billion Danish crowns ($958 million) and 682 million crowns ($100 million) respectively in 2021. The group said Monday that the disposal would result in “significant” impairment charges. .
“We are shocked and deeply saddened to see the war in Ukraine develop and escalate,” the Dutch brewer said in a statement.
The brewery in Moretti and Amstel said it aims to transfer the business to a new owner, in compliance with Russian and international laws.
She added, “To ensure the safety and well-being of our employees and to minimize the risks of nationalization, we have concluded that it is imperative that we continue the operations that were recently reduced during this transitional period.”
The brewery said it will pay salaries to its 1,800 employees in Russia through the end of 2022 and “will do everything we can to protect their jobs in the future.”
Heineken expects to get 400 million euros ($439 million) from the move.
“Upon completion of the transfer, Heineken will have no presence in Russia,” the company said.
Heineken reported in February that Russian beer volumes had grown by a few percentage points in 2021, driven by strong demand for the Heineken, Miller and Dr. Diesel brands. It also reported the growth of the market-leading cider business in Russia.
Dozens of companies in all sectors of the economy have either abandoned Russia or have frozen their operations there since the February 24 invasion.
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