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MarketScreener Homepage  >  Equities  >  Euronext Bruxelles  >  Anheuser-Busch InBev    ABI   BE0974293251

ANHEUSER-BUSCH INBEV

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Anheuser Busch InBev : AB InBev hit with $225 million EU fine over Belgian beer imports

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05/13/2019 | 06:29am EDT
FILE PHOTO: The logo of AB InBev is pictured outside the brewer's headquarters in Leuven

BRUSSELS (Reuters) - Anheuser-Busch InBev, the world's largest brewer, was hit with an EU antitrust fine of 200 million euros (172.6 million pounds) on Monday for preventing cheaper beer imports from the Netherlands into Belgium.

The European Commission decision came after a three-year investigation into the brewer's most popular brand in Belgium, Jupiler, which has a 40 percent market share. Reuters reported last July that the company would be penalised.

"Consumers in Belgium have been paying more for their favourite beer because of AB InBev's deliberate strategy to restrict cross border sales between the Netherlands and Belgium," EU Competition Commissioner Margrethe Vestager said.

The anti-competitive practice took place between February 2009 and October 2016.

The EU cut the fine by 15 percent after AB InBev admitted wrongdoing and agreed a remedy. It will provide mandatory food information in both French and Dutch on products for sale in Belgium, France and the Netherlands for the next five years.

AB InBev, which in February took a provision of $230 million in its 2018 results, said it was putting in place the measures agreed with the Commission.

The Commission said AB InBev's strategy had included changing the packaging of some Jupiler beer distributed to Dutch retailers and wholesalers, such as removing French language information from labels. This made it hard to sell the beer in Belgium.

The company also restricted the volumes of Jupiler to Dutch wholesalers to prevent imports into Belgium and refused to sell some of its products to retailers unless they agreed to limit imports of Jupiler beer from the Netherlands to Belgium.

Another anti-competitive tactic was to prevent Dutch retailers from offering customer promotions for beer to their customers in Belgium, the Commission said.

(Reporting by Foo Yun Chee; editing by Philip Blenkinsop)

By Foo Yun Chee

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Financials (USD)
Sales 2019 55 162 M
EBIT 2019 18 287 M
Net income 2019 10 191 M
Debt 2019 96 868 M
Yield 2019 2,15%
P/E ratio 2019 18,3x
P/E ratio 2020 18,8x
EV / Sales2019 5,09x
EV / Sales2020 4,76x
Capitalization 184 B
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Mean consensus OUTPERFORM
Number of Analysts 34
Average target price 97,51  $
Last Close Price 93,82  $
Spread / Highest target 26,2%
Spread / Average Target 3,94%
Spread / Lowest Target -34,2%
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Carlos Alves de Brito Chief Executive Officer
Olivier Goudet Chairman
Luis Felipe Pedreira Dutra Leite Chief Financial & Solutions Officer
Martin J. Barrington Non-Executive Director
William F. Gifford Non-Executive Director
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