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Accelerating sales in Mexico and South Africa boost AB InBev in Q3
Gwen Jones

Gwen Jones

27 October 2022

Accelerating sales in Mexico and South Africa boost AB InBev in Q3

AB InBev has posted organic revenue growth of 12.1% for its third quarter, after it saw growing demand for its drinks in Mexico and South Africa. The Belgium-based brewer recorded a rise in EBITDA of 6.5% on a like-for-like basis to $5.31 billion, having sold 3.7% more beer and other drinks during the July to September period. Combined, the company’s global brands – Corona, Budweiser and Stella Artois – grew their revenue by 12.7% outside of their home markets. AB InBev recorded 8.9% growth for Budweiser “despite the impact of Covid-19 restrictions in China”. In both Mexico and South Africa, revenue “grew by mid-twenties,” while volumes were up by more than 10%. AB InBev CEO, Michel Doukeris, said in a statement: “We continue to see strong consumer demand for our portfolio and a resilient beer category as we navigate the dynamic operating environment”. “As a result of our performance and continued momentum, we are raising the bottom-end of our FY22 EBITDA outlook."

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