No bonuses for AB InBev’s board after reporting flat results
Anheuser-Busch InBev’s share price fell 2.4% on Thursday morning after it released its 2016 results
Anheuser-Busch InBev’s (AB InBev) share price fell 2.4% to R1,400 on Thursday morning after it released flat results for 2016. "Performance has been disappointing in 2016, and as a result, most of the executive board of management will not receive bonuses this year," the results statement said. Good news is its acquisition of SABMiller, which was completed in October, is going better than expected. "The integration process is well underway, and as a result we are updating our $2.45bn synergy and cost savings expectation to $2.8bn on a constant currency basis as of August 2016," AB InBev said. AB InBev proposed a final dividend of €2, taking its total for 2016 to €3.60. The total volume of beer AB InBev sold in 2016 declined 2% to 500-million hectolitres. It managed to grow revenue 2.4% to $45.5bn, but its earnings before interest, tax, depreciation and amortisation (ebitda) declined slightly to $16.75bn from $16.84bn. "Our beer volumes in SA declined by 5% in the fourth quarter as a...
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