Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

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

ANHEUSER-BUSCH INBEV

(ABI)
  Report  
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsOfficial PublicationsSector newsAnalyst Recommendations

Anheuser Busch InBev : Brewer AB InBev says New Delhi ban to adversely hurt its business in the city

share with twitter share with LinkedIn share with facebook
share via e-mail
0
09/05/2019 | 06:46am EDT
The logo of AB InBev is pictured outside the brewer's headquarters in Leuven

NEW DELHI (Reuters) - Anheuser-Busch InBev will face a "substantial adverse impact" on its business in New Delhi and is already incurring losses due a ban on its beer sales in the city amid allegations of tax evasion, it said in a court filing seen by Reuters.

The ban could be a major setback for AB InBev, which is also battling a separate antitrust probe in India linked to alleged beer price fixing by SABMiller, which it acquired in 2016 for around $100 billion (£81 billion), and other firms, industry executives say.

Local authorities in July barred AB InBev, the world's largest brewer, from selling all its beer brands in New Delhi for three years on allegations of evading local taxes. AB InBev has denied the allegations.

An Indian court on Tuesday rejected a request from the brewer to put the ban on hold, saying it must first complete the appeals process before the state authorities.

Describing the ban as "irrational and perverse", the company said it would "face substantial adverse impact on its business operations and livelihood in Delhi and is in fact incurring losses due to black listing".

It did not disclose any specific loss figure.

"Apart from loss of goodwill and reputation, the domestic beer business of the petitioner has come to a complete standstill in New Delhi," AB InBev added in the court filing dated Sept. 2, which has previously not been reported.

A counsel for the Delhi government in the case, Ramesh Singh, did not comment on the contents of AB InBev's court filing, but said "going by records, it seems like a classic case of excise duty evasion".

The Delhi government's ban order came after a three-year investigation which found that beer maker SABMiller used duplicate barcodes on its bottles supplied to city retailers in 2016, allowing it to pay lower levies.

Citing its excise payments of $26 million to the city authorities during 2016-2019, AB InBev argued the ban will hit the state exchequer and lead to "potential increase in illicit alcohol/moonshine trade" as its beer brands were popular.

AB InBev's beer portfolio includes famous brands such as Budweiser, Hoegaarden, Corona and Stella Artois.

It is the second-biggest player in India's $7 billion beer market, accounting for a 17.5% market share, according to research firm IWSR Drinks Market Analysis.

AB InBev has previously said it was hopeful of receiving a fair hearing from the Delhi authorities as it believed appropriate excise duty payments were made and the allegations dated back to 2016, before its takeover of SABMiller.

Calling the Delhi government's order an "excessive exercise of jurisdiction", AB InBev in its court filing said it was not receiving a fair and effective opportunity in its appeals.

(Reporting by Aditya Kalra; Editing by Himani Sarkar)

By Aditya Kalra

Stocks mentioned in the article
ChangeLast1st jan.
ANHEUSER-BUSCH INBEV -0.81% 87.19 Delayed Quote.51.11%
FAMOUS BRANDS LTD -1.22% 81.07 End-of-day quote.-18.91%
share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on ANHEUSER-BUSCH INBEV
09/13ANHEUSER BUSCH INBEV : India police probing AB InBev in New Delhi tax evasion ca..
RE
09/12NEWS HIGHLIGHTS : Top Company News of the Day
DJ
09/12EUROPE : ECB stimulus draws tepid response from European stocks; banks end flat
RE
09/12NEWS HIGHLIGHTS : Top Company News of the Day
DJ
09/12NEWS HIGHLIGHTS : Top Company News of the Day
DJ
09/12EUROPE MARKETS: Europe Stocks Rise As ECB Cuts Rates, Launches Fresh Bond-buy..
DJ
09/12NEWS HIGHLIGHTS : Top Company News of the Day
DJ
09/12AB INBEV SET TO REVIVE BUDWEISER ASI : sources
RE
09/12AB InBev set to revive Budweiser Asia IPO with $5 billion float - sources
RE
09/12BUD LIGHT : Brewer Plans Slimmed-Down IPO in Hong Kong -- Update
DJ
More news
Financials (USD)
Sales 2019 55 295 M
EBIT 2019 18 461 M
Net income 2019 11 075 M
Debt 2019 96 504 M
Yield 2019 2,05%
P/E ratio 2019 17,9x
P/E ratio 2020 19,8x
EV / Sales2019 5,17x
EV / Sales2020 4,83x
Capitalization 189 B
Chart ANHEUSER-BUSCH INBEV
Duration : Period :
Anheuser-Busch InBev Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends ANHEUSER-BUSCH INBEV
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 33
Average target price 104,58  $
Last Close Price 96,53  $
Spread / Highest target 26,0%
Spread / Average Target 8,35%
Spread / Lowest Target -37,1%
EPS Revisions
Managers
NameTitle
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
Sector and Competitors
1st jan.Capitalization (M$)
ANHEUSER-BUSCH INBEV51.11%189 190
AMBEV SA25.94%74 052
HEINEKEN25.67%61 261
ASAHI GROUP HOLDINGS LTD25.67%22 364
CARLSBERG A/S42.91%21 737
KIRIN HOLDINGS CO LTD-1.69%17 999