- Third-quarter sales increase 5% to US$15.57bn
- Year to date – to end of September – climbs 8.3% hitting $44.91bn
- ‘North America’ still down, -12.7% in Q3 and -6.1% in first nine months
The US continues to be a thorn in the side for Anheuser-Busch InBev, with the group seeing its sales in the country fall by double digits for the second consecutive quarter.
The market delivered a 13.5% year-on-year sales tumble in the three months to the end of September, a deterioration on the -10.5% performance from the country in Q2. However, despite the bleak situation in one of the beer industry’s most important markets, the group still saw total sales in the three-month period rise, by 5%.
For the nine months of the year so far, AB InBev’s top line was up by just over 8%, thanks in part to Q1’s +13.2% jump.
While not referencing the matter directly in today's results announcement, the company's US division has been hit hard this year by the fallout from a video posted in April by actor & online celebrity Dylan Mulvaney that prompted a boycott of Bud Light. In a subsequent results presentation, however, AB InBev cited market research that found "most [US] consumers continue to agree, they want their beer without a debate". Data from Circana was also cited that showed US market share remaining "stable since late April".
Away from the 'North America' reporting region, where quarterly sales fell 12.7%, the other four regions all finished up, most notably 'South America', which jumped by just over 23%. In 'Asia Pacific', which increased sales by 5.1%, AB InBev's premiumisation focus in China is back on track thanks to the continuing recovery of the off-premise channel.
Compared to its brand owner rivals, the group's growth rate in Q3 sits between Carlsberg's +5.8%, also announced today, and Heineken's +4.5%.
Presenting its main brands' sales "outside of their home markets, where they command a premium price", AB InBev saw Stella Artois jump by 20%, followed by Corona at +19%, then Budweiser at +12% and Michelob Ultra at +11.5%. The alcohol-free portfolio, meanwhile, was up 10% in Q3, driven by Budweiser Zero in Brazil and Corona Cero in Canada, Mexico and Europe.
Anheuser-Busch InBev’s official Q3 & YTD results announcement.
Company presentation on recent performance.
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