• Nine-month net profits down 6.2% to US$5.95bn
  • Net sales YTD drop 6.2% to $32.88bn
  • Operating profits fall 7% to $12.5bn
  • Total YTD volumes flat
  • Q3 net profits down 28% to $1.67bn
  • Net sales in three months fall 7% to $11.37bn
  • Q3 operating profits down 7.2% to $4.4bn
  • Total Q3 volumes up
ABInBev was pleased with the performance of its global brands in Q3

ABInBev was pleased with the performance of its global brands in Q3

Anheuser-Busch InBev has seen reported profits drop in its third quarter, dragging the year-to-date down.

In the three months to the end of September, the company reported a near-30% fall in net profits, resulting in a 6.2% drop in the nine-month period.

However, in organic terms, AB InBev said sales for the quarter were up 7.9% and 6.1% in the year-to-date. The brewer also reported a high-single-digit lift in organic operating profits for both periods.

For a look at Anheuser-Busch InBev's performance on a regional basis, click here

As well as currency headwinds and one-offs, the company reported a marked rise in net finance costs in the third quarter, which jumped by $444m to $810m. The increase relates to a "negative mark-to-market adjustment of $585m" linked to the hedging of ABI's share-based payment programme. In the nine-month period, however, net finance costs fell to $1.27bn from $1.61bn in the year prior.

The brewer said: “We delivered solid EBITDA growth of 9.6% in the third quarter…

“This result was driven by a robust top line performance, as well as the benefit of a favourable comparable following a very challenging 3Q14 when our results were affected by several one-off events in the US, Brazil and Mexico.”

The company said top-line growth in the quarter was driven by sales per hl growth of 6.3%, as well as volume growth in the US, Mexico and Latin America North.

“We are particularly pleased with the performance of our global brands which delivered double digit volume and revenue growth,” the company added.

To read the company's official statement, click here.

For coverage of CEO Carlos Brito's post-results conference call, click here