Q4 2024 Budweiser Brewing Company APAC Ltd Earnings Call Transcript
Key Points
- Budweiser Brewing Co APAC Ltd (BDWBF) expanded its distribution of the Budweiser brand from 220 to 235 cities in 2024, with plans to reach 250 cities in 2025.
- The company achieved strong growth in South Korea, with market share reaching its highest level in over a decade, driven by brands like Cass, HANMAC, and Stella Artois.
- In India, the Premium and Super Premium portfolio grew by almost 20% in both the fourth quarter and the full year, with Budweiser's market share more than doubling over the past five years.
- Budweiser Brewing Co APAC Ltd (BDWBF) made significant progress in sustainability, doubling the number of carbon-neutral breweries in China and reducing water usage by 37% compared to 2017.
- The company announced a 7% increase in dividends for the full year 2024, reflecting confidence in future cash flow generation capabilities.
- Total volumes for Budweiser Brewing Co APAC Ltd (BDWBF) decreased by 8.8% in 2024, with revenue declining by 7%.
- The Chinese market faced challenges with a weak consumer environment and negative channel mix, leading to an 11.8% decrease in volumes.
- In APAC West, volumes decreased by 10.6%, with a 14% decline in normalized EBITDA.
- The company experienced a 20.1% revenue decline in China during the fourth quarter, with a significant impact from proactive inventory management.
- Despite growth in certain regions, the overall cost of sales increased by 0.7% per hectoliter, driven by operational deleverage and product mix.
Welcome to the full-year 2024 results announcement conference call for Budweiser Brewing Company APAC Limited. Hosting the call today from Budweiser APAC is Mr. Jan Craps, Chief Executive Officer and Co-Chair of the Board; and Mr. Ignacio Lares, Chief Financial Officer.
The results of the full year ended December 31, 2024, can be found in the press release published earlier today and available on the Hong Kong Stock Exchanges and Budweiser APAC's website. Before proceeding, let me remind you that some of the information provided during this call, including our answers to your questions on this call, may contain statements of future expectations and other forward-looking statements. These expectations are based on the management's current views and assumptions and involve known and unknown risks, uncertainties, and other factors beyond our control. It is possible that Budweiser APAC's actual results and financial condition may differ possibly materially from the anticipated results and financial condition indicated in these forward-looking statements.
Budweiser APAC is under no obligation
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