Brewers Heineken and Carlsberg have said they have been riding out the recession with cost cuts.
The world’s third and fourth biggest beer makers have had to compensate for consumers buying less, particularly in the mature markets of Europe and the US.
Danish firm Carlsberg and Dutch company Heineken produced results that were in line with market expectations for 2009.
Both also reduced the amount of debt they were carrying.
They have promised more cost-cutting this year to keep their profit margins up in what they say will be another difficult year.
Heineken will continue to drive through a three-year cost-cutting plan which includes layoffs of workers.
Its chief executive, Jean-Francois van Boxmeer, said the mature markets would suffer from lower bar sales and drinkers moving to cheaper brands this year.
Carlsberg said its focus this year will be on increasing its market share plus efficiency improvements.