Brussels (Belgium) (AFP) – AB InBev, the world’s leading brewer whose portfolio includes Budweiser, Corona, and Stella Artois, said revenue hit a record level in 2024, although beer volumes slid. The Belgian-Brazilian firm posted a net profit of $1.77 billion for the year, up by six percent from 2023. The company’s shares rose by more than six percent in morning trading in Brussels. Sales revenue increased by 2.7 percent to $59.8 billion.
That came despite sales sliding 1.4 percent by volume, with beer volumes down by 1.9 percent. “While our overall volume performance this year was constrained by the soft consumer environments in China and Argentina, the global beer category remains vibrant with our volumes growing in the majority of our markets and by 0.9 percent overall when excluding these two countries,” the company said in a statement.
Operating earnings rose by 8.2 percent to $21 billion last year overall, and by 10.1 percent in the final quarter. “The beer category is large and profitable, continues to gain share of alcohol globally, and our footprint has structural tailwinds for long-term volume growth with favourable demographics, economic growth, and opportunities to increase category participation,” the company said in a statement.
The company said it expects operating earnings to rise by four to eight percent this year.
© 2024 AFP
