Q1 2025 Anheuser-Busch Inbev SA Earnings Call Transcript
Key Points
- Anheuser-Busch InBev SA/NV (BUD) reported a 7.9% growth in EBITDA, reaching the top end of their outlook range with continued margin expansion.
- The no-alcohol beer portfolio outperformed globally, increasing revenues by 34%, led by the triple-digit growth of Corona Cero.
- The company's digital marketplace, BEES, captured $11.6 billion in GMV, a 10% increase versus last year, with 32 million orders transacted.
- In the US, Anheuser-Busch InBev SA/NV (BUD) gained volume market share in both the beer industry and spirits-based ready-to-drink category.
- The company achieved double-digit bottom-line growth in Middle Americas, South America, Africa, and Europe, driven by premiumization and margin recovery.
- Overall volume performance was impacted by calendar-related factors, resulting in a volume decline of 2.2%.
- Adverse weather and the later timing of Easter negatively impacted the overall industry performance in the first quarter.
- In China, Anheuser-Busch InBev SA/NV (BUD) underperformed due to softness in key regions and the on-trade channel.
- The company faces ongoing macroeconomic challenges in markets like Argentina, impacting consumer purchasing power.
- Despite strong brands, the shift to off-trade in China requires adjustments in sales force and market execution.
Welcome to AB InBev's first-quarter 2025 earnings conference call and webcast. Hosting on the call today from AB InBev's are Mr. Michel Doukeris, Chief Executive Officer; and Mr. Fernando Tennenbaum, Chief Financial Officer.
To access the slides accompanying today's call, please visit AB InBev's website at www.ab-inbev.com and click on the investors tab and the reports and results center page. Today's webcast will be available for on-demand playback later today. (Event Instructions)
Some of the information provided during the conference call may contain statements of future expectations and other forward-looking statements. These expectations are based on management's current views and assumptions and involve known and unknown risks and uncertainties.
It is possible that AB InBev's actual results and financial condition may differ, possibly materially from the anticipated results and financial condition indicated in these forward-looking statements. For a discussion of some of the risks
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