- Three-month sales to end of June increase 2.7% to US$15.33bn
- Q2 volumes flat at -0.8%, Corona Cero volumes leap by “triple digits”
- For the first half of 2024, top-line also up 2.7%, at $29.88bn
- ‘North America’ region’s H1 sales decline 5%, ‘Asia Pacific’ down 4.6%
- ‘Middle Americas’ (+6.9%),’Europe, Middle East & Africa’ (+12.8%) and ‘South America’ (+5.6%) all rise
Anheuser-Busch InBev has reported a 2.7% lift in sales from the first six months of 2024 but the brewing giant revealed stiff headwinds in markets such as China and Argentina.
Sales in Q2 also grew 2.7% to reach US$15.33bn, slightly behind the +3.4% performance of the company’s closest rival, Heineken, but at roughly the same rate as the US multinational’s 2024 Q1 performance.
First-half volumes slipped 0.7% with volumes in the second quarter declining marginally faster at 0.8% despite strong showings from Central America, South America, Europe and Africa, the company noted. South Africa was a particular regional highlight with record Q2 volumes as the company’s core beer brands drove growth.
Overall beer volumes were down 1.3% in both Q2 and H1, however, ABI revealed. The group’s non-beer volumes fared better, growing 3.4% and 3.5% over the same reporting periods, respectively. The brewer noted its RTD portfolio in the US enjoyed “high-teen” volume growth in Q2.
Staying in the US, ABI’s biggest market, the effect of last year’s consumer boycott of Bud Light, which knocked the brand from its top spot as the country’s best-selling beer, still lingered. Sales in the country dipped by 0.6% in the second quarter, although the result was still an improvement on the 9.1% slide recorded in Q1.
From a wider geographical perspective, the Budweiser and Corona owner highlighted that 65% of its markets delivered sales growth in H1, driven by “revenue management initiatives” that resulted in a sales-per-hectolitre rise of 3.5%.
Sales of the brewer’s ‘megabrands’, which include Budweiser, Stella Artois, Michelob Ultra and Corona, saw a combined increase of 3.3% in the second quarter. Mexican brand Corona was a standout portfolio performer, enjoying a 6% rise in sales outside of its home market over the same period.
ABI also highlighted the success of its no-alcohol Corona Cero extension, an official partner of this month’s Olympic Games. The brand proved an exceptional performer, delivering triple-digit Q2 volume growth. Indicating the potential of the wider no-alcohol beer sector, the group noted its overall no-alcohol beer portfolio delivered “high teens revenue growth” in the second quarter of 2024.
In contrast to Corona, the rest of ABI’s global beer brands were down 1.7% in the second quarter. China and Argentina were particular headaches. In China, the company blamed poor weather and “soft” market conditions for a 15.2% decline in Q2 sales, while in Argentina, surging inflation caused volumes to drop in percentage terms by the “low-20s”.
Finally, the brewer stressed the growing importance of its BEES digital sales platform, which is designed to streamline operations and enhance relationships with suppliers, distributors and retailers. In Q2, 70% of total sales came through B2B digital channels, a 20% leap on Q2 2023.
“Our global momentum continued this quarter,” said CEO Michel Doukeris. “The strength of our diversified footprint and consumer demand for our megabrands delivered another quarter of broad-based top- and bottom-line growth.
“We are encouraged with our performance in the first half of the year and remain focused on consistent execution of our strategy.”
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