Anheuser-Busch InBev has reported robust profits in its full-year financial results for 2017, as sales of its own beer ranges grew and the company saved $1.3 billion in costs thanks to the continuing integration of SAB Miller.
Overall net revenue rose 5.1% year-on-year to $56.4 billion, as total AB InBev beer sales volumes rose from 500,242 hl in 2016 to 612,572 hl in 2017.
The company recorded full-year operating profits of $22.1 billion – representing a 13.4% rise from last year’s result– which the company attributed to “strong top-line growth” which was enhanced by the integration of SAB Miller.
AB InBev acquired SAB Miller in 2016, and the company said that it expected to record savings of $3.2 billion while SAB Miller was integrated into the business.
Thanks to the $1.3 billion saved this year, the company has now achieved $2.1 billion in total savings since the deal was completed.
Anheuser-Busch InBev CEO Carlos Brito said: “2017 was a transformative year for our company.
“We are well on our way to achieving our most successful business integration ever and we delivered the best performance in three years.
“Our reshaped brand portfolio is rising to every occasion to capture future growth.
“The combination with SAB has exceeded our expectations. We have incorporated the best of both companies by bringing together world-class talent, integrating best practices and deepening our understanding of consumers and occasions across all markets.
“Cost synergies are not only greater than originally expected, but they are also being delivered at a faster pace.
“Revenue synergies, although not externally quantified, are well underway through the successful launch of our global brands into new territories, among other activities.”
© FoodBev Media Ltd 2021
World Beverage Innovation Awards – NOW OPEN FOR ENTRIES!
The awards celebrate excellence and innovation across the global beverage industry.
Don’t miss out on having your innovations recognised on a global scale.
Deadline for entries 23 July – enter now!
Don’t get left behind
Start your free Foodbev magazine trial today and join thousands of fellow industry professionals in receiving food and drink trends direct to our business.
Click here to start your free trial