AB InBev: market share gains beat consensus

(CercleFinance.com) - AB InBev did better than expected in Q4, thanks to market share gains, particularly in the US, where its Michelob Ultra brand drove growth.


Sales for the owner of the Budweiser, Stella Artois and Corona brands rose by 3.4% to $14.8bn in the last three months of the year, against a consensus target of $14.2bn.

Its normalized gross operating profit (Ebitda) rose by 10.1% to $5.2bn, again exceeding the market's average estimate of $5bn.

"We have achieved Ebitda growth at the high end of our outlook," said Michel Doukeris, the company's CEO.

Gross margin increased by more than 1.5 percentage points, from 53.9% to 55.2%

In a press release, AB InBev points out that in the USA, Michelob Ultra was the brand with the highest market share in the entire sector in H2.

The brewer also highlights the good sales momentum of Busch Light, which also saw its market share increase in terms of volume in the sector.

In Brazil, Budweiser was the brand with the highest market share in the sector, recording a volume increase of almost 50%.

Regarding its outlook, the group stated that it was targeting an increase in Ebitda for 2025 in line with its medium-term outlook, i.e. between 4% and 8%.

Following this publication, AB InBev's shares were very bubbly, up almost 7% on Wednesday morning, making it one of the best performers on the STOXX Europe 600 index.


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