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Czech brewer Budvar's net profit up 46.3% in 2023 as it recovers from loss of the Russian market

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The Czech brewer Budvar, which has been embroiled in a long legal dispute with U.S. beer giant Anheuser-Busch over the use of the Budweiser brand, says it increased its net profit, output and exports in 2023.

FILE - An employee tends to the bar at the Budweiser Budvar company in Ceske Budejovice, Czech Republic on Jan. 3, 2001. The Czech brewer Budvar, which has been embroiled in a long legal dispute with U.S. beer giant Anheuser-Busch over the use of the Budweiser brand, said Friday, July 12, 2024, it increased its net profit, output and exports in 2023. – The Czech brewer Budvar, which has been embroiled in a long legal dispute with U.S.

The 128-year-old state-owned brewery reported a 40% fall in profit in 2022 due to Russia’s war in Ukraine and high inflation driven by soaring energy prices. Exports went up by 4.6% in 2023, with Germany, Poland, Slovakia, Britain, Austria and Canada the top markets. The company sells its beer in some 70 countries.

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Czech brewer Budvar's net profit up 46.3% in 2023 as it recovers from loss of the Russian marketThe Czech brewer Budvar, which has been embroiled in a long legal dispute with U.S. beer giant Anheuser-Busch over the use of the Budweiser brand, says it increased its net profit, output and exports in 2023.
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