Haacht brewery owner Co.Br.Ha posts bigger loss but sees early signs of recovery

Co.Br.Ha, the listed parent company of Belgian brewer Brouwerij Haacht, reported a net loss of €11.4 million for 2025, widening from €8.2 million a year earlier. Despite this, the group says its restructuring plan is starting to show “first signs of improvement”.

Revenue fell by around 3% to €109.1 million, while the loss was driven mainly by restructuring costs linked to job cuts (49 roles) and asset write-downs. Shareholders will again receive no dividend, for the third year in a row.

On the operational side, there were clearer positives. Sales volumes of beer and soft drinks rose by 0.8% in 2025, reversing part of the previous year’s decline. The group also improved its recurring operating cashflow and underlying earnings before interest, tax, depreciation and amortisation (EBITDA), which rose by 19% to €10.2 million.

The company’s “Horizon 2030” turnaround plan, led by CEO Nils Van Dam, focuses on fewer core brands, more alcohol-free products and major cost savings. The goal is to lift profit margins to 20% by 2030, up from 7% in 2024.

Early 2026 trading has also shown modest growth, with volumes up 0.2% and revenue up 1%, alongside improved operating results. Co.Br.Ha expects further cost-driven improvements this year and a positive cash flow.

^{#FlandersNewsService | Haacht Brewery is the producer of Primus and Tongerlo © BELGA PHOTO JULIEN WARNAND}