BRUSSELS, Aug. 1 (Xinhua) -- Anheuser-Busch InBev (AB InBev), a key multinational drink and brewing company in the world, reported stronger-than-expected profits for the second quarter of 2024, despite missing analyst projections for revenue and sales volumes, according to a company report released on Thursday.
The report highlighted a 10.2 percent increase in normalized earnings before interest, taxes, depreciation, and amortization (EBITDA), reaching 5.3 billion U.S. dollars and surpassing forecasts. Underlying earnings per share were 0.90 U.S. dollars, exceeding the anticipated 0.85 U.S. dollars.
The company also emphasized that approximately 70 percent of AB InBev's revenue now comes from B2B digital platforms, with the BEES platform achieving 3.8 million monthly active users in the second quarter.
However, revenue grew by 2.7 percent to 15.333 billion U.S. dollars, falling short of the expected 3.5 percent growth. Beer sales volumes declined by 0.8 percent, compared to the projected 0.6 percent drop.
The company cited significant market challenges, particularly in China and Argentina, where sales volumes dropped by 10.4 percent and 20 percent respectively, further impacting overall performance.
Despite these challenges, AB InBev's stock rose nearly 2 percent at market opening. The brewer maintained its full-year EBITDA growth forecast of 4 to 8 percent.
Headquartered in Leuven, Belgium, AB InBev is the result of a 2008 merger between Belgian brewer InBev and American brewer Anheuser-Busch. ■
