Q1 2025 Earnings | Thursday, May 8

Anheuser-Busch InBev SA/NV

AB InBev Q1 2025 Earnings Call Summary

Company Overview

AB InBev, a global leader in the brewing industry, reported its first-quarter earnings for 2025, highlighting continued momentum in its business and strategic priorities.

Key Financial Metrics

  • Market Cap: $130.6 billion
  • EBITDA Growth: 7.9%
  • Underlying EPS: $0.81 (7.1% increase in USD, 20.2% increase in constant currency)
  • Revenue Growth: 1.5%
  • Volume Decline: 2.2% due to calendar-related factors

Operational Highlights

  • North America:
    • Portfolio gaining momentum with significant investments in brands.
    • Michelob Ultra and Busch Light were top volume share gainers in the beer industry.
  • Middle Americas:
    • Mexico showed mid-single-digit revenue growth despite low-single-digit volume declines.
    • Colombia achieved record high volumes and margin expansion.
  • Europe:
    • Continued premiumization of the portfolio led to double-digit EBITDA growth.
    • Corona and Stella Artois were key contributors to revenue.
  • China:
    • Industry improved sequentially, with increased focus on the off-trade channel.

Strategic Priorities

  • Leading and Growing the Category: Focus on mega brands, with Corona leading premiumization efforts.
  • Digitizing and Monetizing the Ecosystem: BEES captured $11.6 billion in GMV, a 10% increase year-over-year.
  • Optimizing the Business: Ongoing efforts to improve EBITDA margins and reduce costs.

Outlook

AB InBev maintains its outlook for 2025, projecting EBITDA growth of 4% to 8%. The company is focused on activating the category through various platforms and enhancing its brand presence.


 

 

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