AB InBev grows 7.1% in pre-tax profits

AB InBev has reported its results for the third quarter of 2024 and claims that its tax-free profits have grown by 7. 1%, it has also achieved a growth underlying EPS (earnings per share) of 14%, according to Michel Doukeris, CEO of AB InBev.

“Beer is a passion for consumers. Demand from our megabrands and the execution of our large platforms drove another quarter of growth in both revenue and earnings, with margin expansion. Our teams and partners continue to execute on our strategy and we are confident of delivering on our 2024 EBITDA growth outlook, which we have raised to 6-8.

Underlying profit was USD1.971 billion in 3Q24, compared to USD1.735 billion in 3Q23. Underlying EPS was USD 0.98 in 3Q24, up from USD 0.86 in 3Q23.

Doukeris added, “Revenues grew in more than 60% of our markets, driven by a 4.6% increase in revenue per hl due to revenue management and premiumization initiatives. The global volume decline was mainly due to a weak consumption environment in China and Argentina.”

AB InBev’s priorities

Lead and grow the category: We estimate that we have gained or maintained market share in 60% of our markets, with continued investment in our brands.

Digitize and monetize our ecosystem: BEES captured USD 12.1 billion in gross merchandise value (GMV), an increase of 14% over 3Q23. BEES Marketplace captured USD 630 million in GMV from third-party product sales.

Optimizing our business: Underlying EPS increased 14% to USD 0.98, driven by nominal EBIT growth and financial cost optimization. AB InBev’s Board of Directors approved a USD 2 billion share buyback program for the next 12 months.

Sustainability

In climate action, our Scope 1 and 2 emissions per hectoliter of production were 4.48 kgCO2e/hl in 9M24, a 46% improvement compared to our 2017 baseline. In water stewardship, our efficiency ratio improved to 2.47 hl/hl in 9M24.