- Third-quarter sales flat (+0.9%) at US$15.13bn
- For first nine months of 2025, top line rises 1.8% to $43.76bn
- Michelob Ultra ‘now the #1 brand in the industry’ in the US
AB InBev has posted a narrowing growth rate from the most recent quarter as Michelob Ultra earned a namecheck for having performed particularly well in the US.
The group, which in the first six months of 2025 saw sales rise by 2.3%, reported today that its top line in the three months to the end of September was essentially flat at 0.9%. Subsequently, the Budweiser owner’s year-to-date stands at +1.8%.
The performance puts AB InBev just ahead of its main rival Heineken, which last week delivered a +1.3% YTD sales showing from the same nine-month period.
On a geographical basis, three of the brewer’s five reporting regions delivered growth, led by ‘Middle Americas’ (+4.2%) and ‘Europe, Middle East & Africa’ (+3%). ‘North America’ was flat at -0.7% while ‘Asia Pacific’ had a tough quarter, sliding by 9%. An underperformance of the industry was observed in China due to a reliance on an on-premise channel that has started to lose out to stronger “in-home” beer consumption.
Returning to North America, and AB InBev highlighted Michelob Ultra’s position as a growth driver in the US. The brand became the country’s biggest beer by volume in the quarter, according to its owner, which cited figures from Circana for the year-to-date to 19 October. Indeed, the potential for the beer remains high, with AB InBev claiming it has market share of 6% and lower in 20 states.
Late yesterday (29 October), the company confirmed it is in exclusive discussions to take over from Heineken as the lead beer sponsor for European soccer club competition the UEFA Champions League. The switch will bring to an end Heineken’s 33-year association with the season-long tournament from mid-2027.
