AB InBev Q1 Normalized Earnings Decline; Revenue Rises
Anheuser-Busch InBev (AHBIF.PK, BUD) reported that its first-quarter normalized profit attributable to equity holders declined to $1.44 billion from $1.46 billion in the year-ago period. Normalized earnings per share decreased to $0.73 from $0.74 last year.
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Profit attributable to equity holders for the quarter declined to $1.02 billion from $1.41 billion last year, and earnings per share fell to $0.52 from $0.71 a year ago.
According to the company, the decline in profit was due to higher non-recurring net finance costs, partly offset by a reduction in non-recurring items.
Revenue for the quarter grew by 4.7 percent to $13.07 billion from $12.92 billion a year ago, with revenue per hl growth of 4.9 percent, driven by revenue management initiatives as well as continued strong premium brand performance. On a constant geographic basis, revenue per hl grew by 5.3 percent.
The company noted that its integration with SAB continued to progress well and delivered $160 million of synergies and cost savings in the quarter.
Looking ahead, AB InBev said it expects to deliver strong revenue and EBITDA growth in fiscal 2018, driven by the solid performance of its brand portfolio and strong commercial plans. (dpa) The company also said it expects to deliver revenue per hl growth ahead of inflation based on premiumization and revenue management initiatives, while keeping costs below inflation.
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