AB InBev achieved a “standout performance” in the UK over the past quarter, underpinned by strong sales of its premium products, latest figures reveal.
The brewing giant posted top-line double-digit growth for Q2, boosted by a strong performance for Bud Light, which rolled out in March, according to its half-year results.
Since Bud Light launched, “half a million UK households have purchased it, and one in five of these have already made a repeat purchase”, said AB InBev North Europe president Jason Warner.
Growth for Stella Artois was bolstered by its ongoing tie-up with the Wimbledon tennis championships, while Budweiser had a “fantastic” year driven by continuing football activations and its sponsorship of the FA Cup.
Meanwhile, Corona had seen “huge growth” in value and volume, added Warner. “We want to grow the beer category to ensure long-term, sustainable success for our industry, while continuing to innovate.”
Total global revenues at the brewer grew 5% to $14.2bn (£10.8bn) for Q2, driven by “revenue management initiatives” as well as “continued premiumisation”. For the half year, revenues were up 4.4% to $27.1bn (£20.6bn). Stella, Budweiser and Corona, its three global brands, grew by 8.9%. Meanwhile, EBITDA rose 11.8% to $5.4bn (£4.1bn).
Total volumes grew 1% on own beer volumes up 2.1% in the second quarter, with “good” growth in South African, Mexican and Australian markets, but declines in the US, Brazil in Canada. Half-year volumes were up 0.3%, with own beer volumes up 1%.
The brewer had “durable competitive advantages” thanks to its “efficient distribution network, broad emerging market footprint and powerful portfolio of local champions and global brands,” said Liberum analyst Robert Waldschmidt. “Management’s track record of delivering synergies could result in quicker and higher savings than our forecasts.”
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