Brewer AB InBev lifts full-year outlook
By Michele Maatouk
Date: Thursday 27 Oct 2022
(Sharecast News) - Brewer Anheuser-Busch InBev lifted its full-year core profits outlook on Thursday as it posted a rise in third-quarter profit.
Third-quarter normalised earnings before interest, tax, depreciation and amortisation jumped 6.5% on the same period a year earlier to $5.31bn, while total revenue was ahead 12.1% at $14.3bn. Total volumes in the quarter grew by 3.7%, with own beer volumes up 3.4% and non-beer volumes 5.2% higher.
AB InBev hailed the best quarterly volume performance this year, driven by accelerated digital transformation and continued consumer demand for its brands.
Chief executive Michel Doukeris said: "We continue to see strong consumer demand for our portfolio and a resilient beer category as we navigate the dynamic operating environment.
"As a result of our performance and continued momentum, we are raising the bottom-end of our FY22 EBITDA outlook."
The group now expects EBITDA to grow between 6% and 8%, versus a previous range of 4% to 8%, and for revenue to grow ahead of EBITDA "from a healthy combination of volume and price". The company's medium-term outlook, which aims to deliver EBITDA growth of 4% to 8%, is unchanged.
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