AB InBev increases its profit by 137% in the first nine months of 2021

AB InBev increases its profit by 137% in the first nine months of 2021
AB InBev increases its profit by 137% in the first nine months of 2021

AB INBEV RESULTS

Brussels, Oct 28 (EFE) .- The Belgian multinational beer company AB InBev, the largest in the world, obtained a net profit of 3,926 million dollars (3,384 million euros) during the first nine months of the year, which represented an increase in the 137.3% compared to the 1,654 million dollars (1,425 million euros) achieved in the same period of 2020, the company reported today.

As for the third quarter, the profit of the manufacturer of Budweiser, Stella Artois and Corona was 1,002 million dollars (863.9 million euros), 36.5% less than the 1,578 million dollars (1,360.7 million euros) earned between July and September 2020.

“During the third quarter, we achieved growth in revenue and results compared to 2020 and pre-2019 levels, driven by relentless execution, investment in our brands and accelerated digital transformation,” the CEO said in a statement. from AB InBev, Michel Doukeris.

The company said it is focused on “facing the moment” and leveraging its “momentum”, as well as investing and “accelerating” its strategic priorities to “drive long-term value creation.”

The gross operating profit (ebitda) grew by 14.5% compared to the first nine months of 2020 and stood at 14,327 million dollars (12,352 million euros) between January and September of the current year.

As regards revenues, they advanced 17% and reached 40,106 million dollars (34,580 million euros), while total sales volumes increased 11.9%, to 432,027 hectoliters.

Earnings per share were $ 1.96 (€ 1.68), more than double the $ 0.83 (€ 0.71) achieved between January and September 2020.

Regarding the third quarter, ebitda rose 3% between July and September of this year compared to the same period in 2020 and reached 5,214 million dollars (4,493 million euros).

Revenues increased by 7.9%, to 14,274 million dollars (12,298 million euros), and total sales volumes increased by 3.4%, to reach 151,629 hectoliters.

Earnings per share fell to $ 0.50 (€ 0.43), after reaching $ 0.79 (€ 0.68) between July and September 2020.

AB InBev recalled that it will not pay dividends on account this year, but noted that its board’s proposal regarding a dividend for all of 2021 will be announced with the results for the full year on February 24, 2022.

The multinational highlighted that after the announcement of its first carbon-neutral brewery at the beginning of the year in Wuhan (China), during the third quarter of 2021 it also achieved carbon neutrality in a second beer plant and first malting plant in Brazil.

“As pioneers in sustainable beer manufacturing, we will continue to pursue innovation and partnerships in support of the transition to a low-carbon economy,” the company said.

For the whole of 2021, he said that he expects ebitda to grow between 10 and 12% and that revenues exceed this increase “thanks to a healthy combination of volume and price.”

“The outlook for the full year 2021 reflects our current assessment of the scale and magnitude of the COVID-19 pandemic, which is likely to evolve as we continue to monitor the development of ongoing events,” added AB InBev.

By markets, in the third quarter the company achieved its historical record for beer sales volumes in Brazil over a twelve-month period.

Regarding Europe, he highlighted that while vaccination rates continue to grow in the group’s “key markets” and beer consumption outside the home recovers, results are improving, driven by “a healthy distribution and market share gains. ”In your product portfolio.

In China, restrictions to deal with the coronavirus during the third quarter affected “disproportionately” the “key” regions of the firm in the country.

In the United States, revenues between July and September fell compared to the same period in 2020, while in Colombia the results were positive due to the relaxation of measures against the coronavirus.

 
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