Anheuser-Busch InBev has posted a drop in volumes for the first quarter despite a rise in profits.
The world's largest brewer saw organic sales growth of 1.5 per cent to $9.2 billion while volumes declined 4.1 per cent with a drop of 8.2 per cent in the group's key Brazilian market, leading to a revision of full-year outlook for the country.
Profits rose to $2.5 billion from $2.1 billion for the first quarter of 2012 while EBITDA dropped 0.9 per cent to $3.4 billion.
The group's Budweiser volumes increased by 8.4 per cent, underpinned by strong performances in China, Brazil, Russia and Ukraine.
By region:
Europe
Western: Beer volumes dropped by 7 per cent, attributed to a “long winter”. Germany volumes fell 4.4 per cent with a drop of 4.6 per cent in the UK. EBITDA dropped by 7.9 per cent to $179 million Central & Eastern: Beer volumes fell 16.4 per cent, with a 17 per cent fall in Russia Latin America
North: Volumes dropped 5.8 per cent, with beer volumes down 7.5 per cent South: Volumes dropped 10.2 per cent with beer volumes down 9 per cent North America
Sales to wholesalers dropped by 5.2 per cent, due to “pressure on consumer disposable income, gas prices and a difficult weather comparable”. EBITDA fell 4.5 per cent to $1,48 billions, due to “soft volumes” Asia-Pacific
Beer volumes showed a “strong recovery”, up by 15.6 per cent The group's takeover of Group Modelo, delayed by competition regulations, is expected to be completed by June. (2 May)
© 2013 - ESM: European Supermarket Magazine by Guillaume Verdier
