A-B InBev reported its FY results today

A-B InBev reported its FY results today

Earlier today Anheuser-Busch InBev reported a 13% rise in full-year net profits from a single-digit lift in sales. Here just-drinks takes a closer look at the world’s biggest brewer’s results by region and by brand:


North America 

  • Earnings before interest, taxes, depreciation, and amortization (EBITDA) up in organic terms by 2.4% to $6.7bn
  • US volumes up by 0.6% in FY and 2.2% in Q4. Sales up 4.9% due to price increase in late 2011 and “positive brand mix”
  • Canada beer volumes flat in FY, down 2% in Q4 

Latin America North (LAN) 

  • EBITDA rose by 14.2% to 5.8bn
  • Volumes up 3% in FY - beer volumes rose by 2.7% and soft drinks by 3.7%. Total Q4 volumes up 3.5%
  • Brazil beer FY volumes rose 2.5% and 2.9% in Q4, due to “strong execution of commercial initiatives, extra price promotions and favorable weather

Latin America South (LAS)

  • EBITDA up by 21.9% to $1.4bn
  • Volumes down by 0.8% to - beer volumes flat, non-alcoholic volumes fell 2.2%
  • Argentina FY beer volumes fell by 0.4%, due to an “uncertain consumer environment and a weak industry”

Western Europe 

  • EBITDA up by 1.4% to $1.2bn 
  • Total FY volumes down by 4.2%; beer volumes fell by 3.5% 
  • UK “own product” FY volumes down by 8.2% in 12.7% in Q4, mainly due to a “weak industry and market share pressure due to competitive activity in the off-trade channel” 

Central and Eastern Europe 

  • EBITDA rose by 19% to $257m
  • FY beer volumes fell by 11.3% and 9.9% in Q4 
  • Russia beer volumes down by 12% in FY and 10.9% in Q4, driven by “industry weakness following regulatory changes”


  • EBITDA up by 8.2% to $396m
  • FY beer volumes up by 1.9% and down by 8% in Q4 
  • China beer volumes rose by 1.9% in FY and dropped by 8.1% in Q4. Fourth quarter drop due to “severe cold and wet weather”  


  • FY volumes of global brands - Budweiser, Stella Artois, Beck’s - up by 4.1% 
  • Budweiser volumes now greater from outside (51%) than inside the US, due to China, Russia and Brazil growth
  • Stella Artois: saw “double-digit” growth in US; in Brazil, volumes up nearly 50%; “solid gains” in Russia 
  • Beck’s “performed well” in Germany and China

Expert analysis

2012 Global Beer Market

2012 Global Beer Market

As beer industry globalization continues apace, this report charts the latest developments, with data on volume by country, continent, brewer and brand. It provides highly detailed profiles of the lea...read more