AB InBev Q1 Profit Surges On Absence Of Prior Year Impairment Charge

(RTTNews) - Anheuser-Busch InBev or AB InBev (AHBIF.PK), a Belgian drink and brewing company, reported that its first quarter profit attributable to equity holders of the company surged to $1.64 billion or $0.81 per share from $95 million or $0.05 per share in the prior year.

The prior year result included the non-cash impairment of $1.14 billion the company recorded on its investment in AB InBev Efes.

Underlying profit attributable to equity holders of AB InBev was $1.31 billion up from $1.20 billion last year. Underlying earnings per share was $0.65, an increase from $0.60 in the prior year.

Revenue for the first quarter grew to $14.21 billion from $13.24 billion in the prior year.

Total volumes grew by 0.9%, with own beer volumes up by 0.4% and non-beer volumes up by 3.6%.

Looking ahead for fiscal year 2023, the company projects EBITDA to grow in line with medium-term outlook of between 4%-8% and revenue to grow ahead of EBITDA from a healthy combination of volume and price.

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