Global beer company AB InBev saw a total volume drop of low-single digits as a result of pub closures, it has reported.
In its latest trading update, the business also stated its own beer volumes, excluding third party volumes, were flat year on year with double-digit growth in the off-trade.
Revenue per hectolitre dropped by low single digits as brand mix from the outperformance of premium brands was offset by the channel mix, leading to a revenue decline of mid-single digits.
Earnings before interest, taxation, depreciation and amortisation (EBITDA) fell by double digits as a results of the top line decline and channel mix as the on-trade carries higher margins in continental Europe, AB InBev stated.
6th May 2021
AB InBev, the world’s largest beer maker, has reported better-than-expected sales and profit figures for the first quarter of the year as drinking and socialising started to recover in some markets from the pandemic-related restrictions.
Total group revenues rose 17.2% to $12.29bn with a 13.3% rise in volumes (+14.9 beer, +4.0% non-beer). Underlying profit was almost unchanged at $1.1bn, whilst EBITDA climbed 14.2%.
Volumes surged up 64% in the Asia-Pacific region, driven by the key Chinese market as it reopened its bars and restaurants. North America recorded growth of 2.9%, but Europe suffered a 2.1% decline after strong Off-Trade sales were countered by continued restrictions in the hospitality sector.
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Budweiser A TOTAL of £45million is to be invested into a brewery in a move that will see 23 new job positions created. The Budweiser Brewing Group UK&I has announced a £115million investment in its two major UK breweries, one of which is based in Samlesbury and the other in South Wales. The investment will see 23 new jobs in operational and specialist engineering roles made available in Lancashire, with updates to equipment enabling Budweiser to brew an extra 630 million pints a year. Among other things the investment will see the installation of a new canning line at the Samlesbury base, allowing for the creation of new sustainable plastic ring-free cans.
Budweiser s £45million investment will create 23 new jobs in Lancashire lancashiretelegraph.co.uk - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from lancashiretelegraph.co.uk Daily Mail and Mail on Sunday newspapers.