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.”