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AB InBev sees "continued momentum" in FY2021 results
Rafaela Sousa

Rafaela Sousa

24 February 2022

AB InBev sees "continued momentum" in FY2021 results

AB InBev has reported that its total volumes grew by 9.6% in FY2021, compared to the coronavirus-related drop of 5.7% the brewer reported last year. The Budweiser and Stella Artois owner saw its revenue increase by 15.6% on an organic basis. For 2021, AB InBev’s reported revenue was $54.3 billion, compared with 2020's $46.88 billion. The company's EBITDA grew by 11.8% to $19.21 billion. AB InBev saw a 23.5% increase in the combined revenues of its core global brands – Budweiser, Stella Artois and Corona – outside of their respective home markets in Q4, and a rise of 22.9% for the full year. In Europe, the company's top-line recovered to pre-pandemic levels. Compared to 2020, "revenue grew by low-teens with mid-single-digit volume and revenue per hl growth". In the US, revenue grew by 3.4%. Meanwhile, EBITDA declined by 0.9%, mainly due to increased selling, general and administrative (SG&A) expenses. In Brazil, total volumes grew by 7.3% with beer volumes up by 7%, while EBITDA declined by 6.4%. “This year was an important step in our journey to create a future with more cheers," said AB InBev's CEO, Michel Doukeris. "Relentless execution of our strategy drove continued momentum to deliver over 15% top-line growth, EBITDA at the top end of our outlook and another year of strong cash flow generation.”

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