James Wilmore

GLOBAL: Positive signs in Anheuser-Busch InBev's Q4 figures - analyst

By | 28 February 2013

A-B InBev has a number of innovations for 2013

A-B InBev has a number of innovations for 2013

Anheuser-Busch InBev’s fourth-quarter results revealed “encouraging signs”, while its takeover of Grupo Modelo should complete in “the next few months”, according to analysts.

The brewer yesterday (27 February) reported an 8.8% rise in sales to $1.79bn in the last three months of 2012. Organic operating profits also rose by 10% in the period, but net profits took an 8.5% dip. 

Analysts UBS noted that the rise in Q4 operating profits beat estimates and showed “impressive” price/mix growth in the US and Brazil. A-B InBev also gained market share in the US for the first time since 2009, UBS said, and has a “full innovation pipeline” for this year, including Budweiser Black Crown in the US.

On Brazil, analysts Bernstein said it expected the company to deliver 4% to 5% volume growth in the medium-term. However for 2013, the analysts forecast “subdued” volume growth due to a tax hike in April, Q1 weakness, the timing of Carnival and poor weather. 

On the group’s US$20.1bn acquisition of Grupo Modelo, which A-B InBev has offered concessions on, UBS said: “We believe the new deal structure addresses the DoJ (Department of Justice) concerns, and expect completion in the next few months.”

Expert analysis

Premium beer in North America – forecasts to 2016

This second report in our series on premium beer concentrates on North America, currently the second largest premium beer market in the world and how this market specifically has faired. It examines how the major players and smaller brewers have reacted to the challenges and changing trends. Highlighted is one of the most exciting and innovative offshoots of the industry since its emergence in the mid- to late-1980s, that of craft brewing.

Sectors: Beer & cider, Emerging markets – BRIC, Mergers & acquisitions

Companies: InBev, Modelo

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