ANHEUSER-BUSCH INBEV’S FIRST-QUARTER GROWTH IS DOUBLE-DIGIT

The Belgian brewing group Anheuser-Busch InBev (AB InBev) has released its results for the first quarter of the year, reporting a significant profit of $95 million (90 million euros), a decrease of 84% compared to the profit posted during the same period of the previous year, including the adverse impact of the sale of its minority stake in AB InBev Efes, the Russian joint venture with Anadolu Efes.

Last April, the company announced that it would assume the $1.1 billion following the sale of its minority stake in AB InBev Efes. On the positive side, there was an 11.1% increase in revenues. In particular, the combined revenues of the global brands, Budweiser, Stella Artois and Corona, increased by 6% outside their respective domestic markets.

The company further discloses that 53% of revenues are now derived through B2B digital platforms with BEES’ monthly active user base reaching 2.7 million users. Specifically, the underlying profit is US$1,204 million.

Following our previous recognition as Creative Marketer of the Year at Cannes Lions 2022, the company has been recognized by Fast Company as one of the world’s most innovative companies in 2022, ranked #12 globally and #1 in the North American category.

In the case of Europe, the company recorded significant double-digit growth in both revenues and expenses. EBITDA grew by more than 30%. Compared to 1Q19, revenues increased by mid-single digits even though volumes in trade did not fully recover to pre-pandemic levels. In the case of South Africa, revenues increased by 30.7% while in the case of China there was continued momentum, although results have been affected by COVID-19 restrictions.

In the case of Canada, beer volume outperformed the industry, led by the core portfolio, which grew by mid-single digits, while in countries such as Peru, Ecuador and Argentina, the growth was also double-digit in revenues, driven mainly by revenue management initiatives in a highly inflationary environment.

In the case of Africa, excluding South Africa, in Nigeria, revenues grew by almost 50%, despite continuing supply chain constraints. There is also strong consumer demand for the brands, which has led to double-digit volume and revenue growth, driven by Botswana, Mozambique, Tanzania and Zambia, Mozambique, Tanzania and Zambia.