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Anheuser-Busch InBev doubles Q3 profits

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Leadership

Anheuser-Busch InBev doubles Q3 profits

12.11.2009
The world’s largest brewer Anheuser-Busch InBev has reported a doubling of third-quarter profits to US$1.5bn, despite a decline in sales and volumes.

The group achieved its third-quarterly profit growth largely due to a cost-cutting programme and price increases.

Total volumes fell by 3.2pc during the quarter, with the group’s own beer volumes down 3.1pc.

Revenues at Anheuser-Busch InBev for the third quarter fell 0.4pc.

“We delivered double-digit EBITDA growth in a challenging operating environment, made significant progress on all our commitments, while increasing our sales and marketing investment,” said Carlos Brito (pictured), CEO, Anheuser-Busch InBev.

“Anheuser-Busch InBev enters the fourth quarter a much stronger company than at the start of the year, with a significantly improved balance sheet,” he added.

“With our formal divestiture programme complete, we can now focus all of our efforts on growing our core business, including realising top-line synergy opportunities not considered in our US2.25bn synergy commitment,” Brito said.

Looking forward, the group sees improving volume comparisons in the fourth quarter, but expects year-over-year EBITDA gains in line with third-quarter levels due to higher year-over-year sales and marketing investment and administrative expenses.

The group’s key brands include Stella Artois, Budweiser and Becks. InBev bought US brewing giant Anheuser-Busch in November 2008 for US$52bn.

 

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