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ANHEUSER-BUSCH INBEV SA/NV - AB InBev Reports Q3 2024 Results Short Form Announcement
2024/10/31 08:54:00Download PDF Stock report
AB InBev Reports Q3 2024 Results Short Form Announcement Anheuser-Busch InBev SA/NV (Incorporated in the Kingdom of Belgium) Register of Companies Number: 0417.497.106 Euronext Brussels Share Code: ABI Mexican Stock Exchange Share Code: ANB NYSE ADS Code: BUD JSE Share Code: ANH ISIN: BE0974293251 ('AB InBev' or the 'Company') AB InBev Reports Q3 2024 Results Short Form Announcement KEY FIGURES Total Revenue Normalized EBITDA + 2.1% + 7.1% Revenue increased by 2.1% in 3Q24 with revenue In 3Q24, normalized EBITDA increased by 7.1% to per hl growth of 4.6% and by 2.5% in 9M24 with 5 424 million USD with a normalized EBITDA margin revenue per hl growth of 3.9%. expansion of 169bps to 36.0%. 3.1% increase in combined revenues of our In 9M24, normalized EBITDA increased by 7.6% to megabrands, led by Corona, which grew by 10.2% 15 712 million USD with a normalized EBITDA outside of its home market in 3Q24. margin expansion of 166bps to 35.0%. 72% of our revenue is through B2B digital platforms with the monthly active user base of BEES reaching Underlying Profit 3.9 million users in 3Q24. 1 971 million USD Approximately 140 million USD of revenue generated by our digital direct-to-consumer Underlying profit (profit attributable to equity ecosystem in 3Q24. holders of AB InBev excluding non-underlying items and the impact of hyperinflation) was 1 971 million USD in 3Q24 compared to 1 735 million Total Volume USD in 3Q23 and was 5 291 million USD in 9M24 compared to 4 497 million USD in 9M23. - 2.4% In 3Q24, total volumes declined by 2.4%, with own Underlying EPS beer volumes down by 3.1% and non-beer volumes up by 0.6%. 0.98 USD In 9M24, total volumes declined by 1.3% with own Underlying EPS was 0.98 USD in 3Q24, an increase beer volumes down by 1.9% and non-beer volumes from 0.86 USD in 3Q23 and was 2.64 USD in 9M24, up by 2.5%. an increase from 2.23 USD in 9M23. Capital Allocation 2 billion USD Share buyback program The AB InBev Board of Directors has approved a 2 billion USD share buyback program to be executed within the next 12 months. For further details please see the Recent Events section on page 14 of the full announcement. 2024 OUTLOOK (i) Overall Performance: We expect our FY24 EBITDA to grow between 6-8%. The outlook for FY24 reflects our current assessment of inflation and other macroeconomic conditions. (ii) Net Finance Costs: Net pension interest expenses and accretion expenses are expected to be in the range of 220 to 250 million USD per quarter, depending on currency and interest rate fluctuations. We expect the average gross debt coupon in FY24 to be approximately 4%. (iii) Effective Tax Rates (ETR): We expect the normalized ETR in FY24 to be in the range of 27% to 29%. The ETR outlook does not consider the impact of potential future changes in legislation. (iv) Net Capital Expenditure: We expect net capital expenditure of between 4.0 and 4.5 billion USD in FY24. SHORT FORM ANNOUNCEMENT This short-form announcement is the responsibility of the board of directors of AB InBev and is a summary of the information in the detailed financial results announcement and does not contain full or complete details. Any investment decision in relation to the Company's shares should be based on the full announcement. The full announcement may be downloaded from: https://senspdf.jse.co.za/documents/2024/jse/isse/anhe/Q32024.pdf or from the Company's website at www.ab-inbev.com Copies may be requested from the Company and the Johannesburg office of the Company's JSE Sponsor at no charge during business hours for a period of 30 calendar days following the date of this announcement. AB INBEV CONTACTS Investors Media Shaun Fullalove Media Relations E-mail: shaun.fullalove@ab-inbev.com E-mail: media.relations@ab-inbev.com Ekaterina Baillie E-mail: ekaterina.baillie@ab-inbev.com Cyrus Nentin E-mail: cyrus.nentin@ab-inbev.com 31 October 2024 JSE Sponsor: Questco Corporate Advisory Proprietary Limited Anheuser-Busch InBev is a publicly traded company (Euronext: ABI) based in Leuven, Belgium, with secondary listings on the Mexico (MEXBOL: ANB) and South Africa (JSE: ANH) stock exchanges and with American Depositary Receipts on the New York Stock Exchange (NYSE: BUD). Date: 31-10-2024 08:54:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on, information disseminated through SENS.