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.”
© FoodBev Media Ltd 2022
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
Your privacy We use small files known as ‘cookies’ to enhance your experience of the FoodBev website and analyse site-traffic. Read about how we use cookies or how you may control them in our updated privacy policy and cookie policy. If you continue to use this site, you consent to our use of cookies. Click the ‘OKAY‘ button at the top right of this panel to accept or click here for more information.