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    ABI   BE0974293251

ANHEUSER-BUSCH INBEV

(ABI)
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AB InBev 2Q Net Profit Surged as Sales Recovered -- Update

07/29/2021 | 08:29am EDT

By Adria Calatayud

Anheuser-Busch InBev SA said Thursday that net profit for the second quarter rose sharply as sales exceeded pre-pandemic levels, but the Budweiser brewer said it continues to absorb cost headwinds from tight supply chains in the U.S.

The world's largest brewer, which also houses the Stella Artois and Michelob Ultra brands in its portfolio, said quarterly net profit was $1.86 billion compared with $351 million for the year-earlier period, when its performance was hurt by an impairment charge against its African business.

Belgium-based AB InBev said revenue for the quarter increased to $13.54 billion from $10.29 billion a year before. Organic revenue growth for the quarter was 28%, while organic volumes rose 21%. This compared with expectations for increases of 24% and 19%, respectively, according to a company-provided consensus.

AB InBev said its top-line grew 3.2% compared with the second quarter of 2019.

Normalized earnings before interest, taxes, depreciation and amortization for the quarter increased 31% on an organic basis, missing company-provided expectations for a 35% rise.

The company reiterated its guidance for normalized Ebitda growth of between 8% and 12% for 2021 as a whole, with revenue growth ahead of that range.

Write to Adria Calatayud at adria.calatayud@dowjones.com

(END) Dow Jones Newswires

07-29-21 0828ET

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Financials (USD)
Sales 2021 53 090 M - -
Net income 2021 5 499 M - -
Net Debt 2021 77 617 M - -
P/E ratio 2021 17,9x
Yield 2021 1,81%
Capitalization 97 650 M 114 B -
EV / Sales 2021 3,30x
EV / Sales 2022 3,03x
Nbr of Employees 164 000
Free-Float 40,0%
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Mean consensus OUTPERFORM
Number of Analysts 29
Last Close Price 49,33 $
Average target price 76,68 $
Spread / Average Target 55,4%
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Managers and Directors
Michel Dimitrios Doukeris Chief Executive Officer
Fernando Mommensohn Tennenbaum Chief Financial Officer
Martin J. Barrington Chairman
David Almeida Chief Strategy & Technology Officer
M. Michele Burns Independent Non-Executive Director
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