Heineken, a beer brewing company, announced last year that it would stop brewing and selling its beer in Russia due to the country’s invasion of Ukraine.
However, the company’s Russian arm is still active and boasts about its success, launching 61 new products in 2022 and selling an additional 720,000 hectoliters.
The company claims that its activities in Russia are financed solely by sales revenue and are distanced from the parent company.
Other companies, such as Coca-Cola and Pepsico, have already withdrawn from Russia due to the situation, but Heineken has continued to invest in new products.
As a result, the company has written off 88 million euros on its Russian activities in 2022 and expects this amount to rise to 300 million.
Heineken has not yet sold its Russian activities, but the company says it has found a “good buyer” and expects the sale to be completed in the first half of this year, pending Russian permission.