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GLOBAL: Anheuser-Busch InBev lifts nine-month profits on flat beer demand

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  • Nine-month normalised net profits (excluding M&A and currency) rise by 7.4% to US$9.06bn
  • Net sales up by 4.2% to $29.2bn
  • Normalised EBITDA rises by 5.9% to $16.55bn
  • Budweiser brewer still losing consumers in US, higher prices lift results

 

Higher prices have helped Anheuser-Busch InBev to increase profits and net sales in the first nine months of 2011, despite the brewer selling the same amount of beer as last year. 

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Consumer demand for Anheuser-Busch InBev's beer proved sluggish in Brazil and continued to decline in the US and Western Europe in the nine months to the end of September, the Budweiser and Stella Artois brewer said today (9 November). Despite this, higher pricing helped the group to lift net sales by 4.2% on the same period of 2010, to US$29.2bn.

Beer price rises also fed into operating profits, with normalised earnings before interest, tax, depreciation and amortisation (EBITDA) up by 5.9% to $16.55bn. So-called normalised net profits, which exclude currency swings and the impact of acquisitions and disposals, increased by 7.4% to $9.06bn.

Budweiser continued to lose market share in the US, albeit at a lower rate, but growing demand in other markets, from the UK to Russia to China, helped the brand to increase volume sales by 2.5% for the nine months and by almost 7% for the third quarter.

In the third quarter, A-B InBev's own-beer volume sales dipped by 0.6% on the same period of 2010. However, net sales increased by 3.6% to $10.2bn. Normalised EBITDA rose by 5.5% to $3.96bn and normalised net profits increased by 16.2% to $1.73bn.

To view the company announcement, click here.


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