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