How has Anheuser-Busch InBev performed in YTD 2019? - results data

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Anheuser-Busch InBev Performance Trends 2016-20

  • Third-quarter sales increase 2.7% to US$13.17bn
  • Volumes in three months to end of September flat, -0.5%
  • Asia-Pacific sees sales down 3.3%, North America flat
  • Middle Americas, South America both up 6.9%
  • Europe, Middle East & Africa rises 1.8%
  • Sales in year so far up 4.8% to $38.99bn

A marked slowdown in sales growth from the third quarter of this year has dented Anheuser-Busch InBev's performance in the year to date.

In figures for the three and nine months to the end of September, the brewer said today that sales in the third quarter rose by 2.7% on the corresponding period a year earlier. The top-line performance follows Q1's 5.9% rise and the 6.2% increase reported from the second quarter of 2019.

Subsequently, the growth rate for sales in the first nine months of this year slowed to 4.8%.

Anheuser-Busch InBev Sales 2019 - Organic

Source: Company results

On a regional basis, A-B InBev saw its US sales come in flat as the hard seltzer category impacted the company's beer performance. As a result, the group confirmed the pending launch of a Bud Light Seltzer in the country in the coming months, a move that was hinted at last month. Michelob Ultra continued its healthy growth rate in the US, posting a double-digit sales increase. Elsewhere, Brazil was up 1.5% in the third quarter with price rises and competitor discounting affecting performance.

In China, where A-B InBev has focussed its efforts at the premium end, sales were flat in the three months due in part to "softness in the nightlife channel". The company's super-premium stable, however, grew volumes by double digits. Finally, Europe saw sales slip by 1% on a low single-digit volumes increase. Attention has turned to "expand(ing) our portfolio into new points on the price spectrum" in the region, A-B InBev said.

Anheuser-Busch InBev Third-Quarter 2019 - Sales by Region - Reported

Source: Company results

Management Comments

"The third quarter of 2019 was challenging, primarily driven by three anticipated factors: shipment phasing into 2Q19 in China ahead of summer activations, higher cost of sales-per-hectolitre from significant commodity and transactional currency headwinds, and the year-over-year phasing of our sales and marketing investments driven by the 2018 FIFA World Cup Russia. In addition, price increases implemented in South Korea and Brazil drove volume declines, which were exacerbated by softer consumer demand in light of difficult macroeconomic conditions.

"Across the world, the beer category is premiumising, and we continue to invest behind the growth of our unparalleled portfolio of premium brands to address this trend. Our premium strategy is led by our High End Company and global brand portfolio, both of which continue to grow ahead of our total company. In the third quarter, our High End Company grew by 13.5% while the global brands grew by 5.2% outside their home markets."

Anheuser-Busch InBev Year-to-Date 2019 - Sales by Region - Reported

Source: Company results

To read Anheuser-Busch InBev's official third-quarter and year-to-date results statement, click here.

How concerned should the beer category be about the hard seltzer boom? - Click here for a just-drinks comment

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