Heineken saw its beer sales plummet in the first half of this year by 11.5 percent, according to figures released by the Dutch beer brewer on Monday.

Worldwide, pubs had to close due to the outbreak of COVID-19, which had negative consequences for beer sales in the second quarter in particular.

Due to the corona outbreak, Heineken turned red. This was not so much due to the decline in beer sales, but mainly to depreciation on assets. These have lost value due to the COVID-19 pandemic.

Under the line, Heineken lost 149 million euros over the first six months of 2020. As the company still posted a profit of 94 million in the first quarter, the pain was mainly felt in the second quarter. In the first half of 2020, turnover amounted to 11.16 billion euros, which was 18 percent lower than in the same period last year.

The negative result comes as no surprise. Last month, Heineken announced that it would dive into the red numbers in the first half of the year.

The brewer has seen a slow recovery since April. However, the economic situation remains uncertain, which means that Heineken is unable to predict the results for the rest of the year.