AB InBev Sees “Continued Momentum” In FY2021 Results

AB InBev
AB InBev Sees “Continued Momentum” In FY2021 Results

AB InBev has reported that its total volumes grew by 9.6% in FY2021, compared to the coronavirus-related drop of 5.7% the brewer reported last year.

The Budweiser and Stella Artois owner saw its revenue increase by 15.6% on an organic basis.

For 2021, AB InBev’s reported revenue was $54.3 billion, compared with 2020’s $46.88 billion. The company’s EBITDA grew by 11.8% to $19.21 billion.

AB InBev saw a 23.5% increase in the combined revenues of its core global brands – Budweiser, Stella Artois and Corona – outside of their respective home markets in Q4, and a rise of 22.9% for the full year.

In Europe, the company’s top-line recovered to pre-pandemic levels. Compared to 2020, “revenue grew by low-teens with mid-single-digit volume and revenue per hl growth”.

In the US, revenue grew by 3.4%. Meanwhile, EBITDA declined by 0.9%, mainly due to increased selling, general and administrative (SG&A) expenses.

In Brazil, total volumes grew by 7.3% with beer volumes up by 7%, while EBITDA declined by 6.4%.

“This year was an important step in our journey to create a future with more cheers,” said AB InBev’s CEO, Michel Doukeris. “Relentless execution of our strategy drove continued momentum to deliver over 15% top-line growth, EBITDA at the top end of our outlook and another year of strong cash flow generation.”