AB InBev Reports Second Quarter 2023 Results – Anheuser-Busch InBev (NYSE:BUD) – Press Release

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Continued global momentum, partially offset by US performance, delivered high-single digit revenue growth

AB InBev ABI ANB ANH BUD:

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20230802588545/en/

Figure 14. Terms and debt repayment schedule as of 30 June 2023 (billion USD) (Graphic: Business Wire)

Regulated information1

“Our business delivered another quarter of profitable growth. Revenue increased by 7.2% with an EBITDA increase of 5.0%. We continue to invest in our strategic priorities for the long-term. – Michel Doukeris, CEO, AB InBev

Total Revenue

+7.2%

Revenue increased by 7.2% in 2Q23 with revenue per hl growth of 9.0% and by 10.0% in HY23 with revenue per hl growth of 10.6%.

 

18.4% increase in combined revenues of our global brands, Budweiser, Stella Artois and Corona, outside of their respective home markets in 2Q23, and 16.9% in HY23.

 

Approximately 64% of our revenue through B2B digital platforms with the monthly active user base of BEES reaching 3.3 million users.

 

Over 115 million USD of revenue generated by our digital direct-to-consumer ecosystem.

 

Total Volume

-1.4%

In 2Q23, total volumes declined by 1.4%, with own beer volumes down by 1.8% and non-beer volumes up by 0.5%. In HY23, total volumes declined by 0.3% with own beer volumes down by 0.8% and non-beer volumes up by 2.1%.

 

Normalized EBITDA

+5.0%

In 2Q23, normalized EBITDA increased by 5.0% to 4 909 million USD with a normalized EBITDA margin contraction of 69 bps to 32.5%. In HY23, normalized EBITDA increased by 9.1% to 9 668 million USD and normalized EBITDA margin contracted by 29 bps to 33.0%. Normalized EBITDA figures of HY22 include an impact of 201 million USD from tax credits in Brazil.

Underlying Profit

1 452 million USD

Underlying profit (profit attributable to equity holders of AB InBev excluding non-underlying items…

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