AB InBev sets first profit growth target under new chief by Reuters

© Reuters. File Photo: The Anheuser-Busch InBev logo is drawn outside the brewery headquarters in Leuven, Belgium, on February 28, 2019. REUTERS / Francois Lenoir / File Photo GLOBAL BUSINESS WEEK AHEAD / File Photo

Philip Brenkinsop

Brussels (Reuters)-Anheuser-Busch InBev’s new leadership sets its first revenue target on Monday, with core profits over the next four years based on increased beer sales and expansion of other beverages and foods. It is expected to increase by 4% to 8%.

Michelle Duqueris, CEO of the world’s largest brewery since July 1, told Reuters before the investor seminar on Monday, despite a false explanation that the beer market isn’t growing. He said it had expanded over the last four years.

Beer was also predicted by Euromonitor to increase its share of the following four alcohol markets at the expense of wine and spirits, he said.

AB InBev, which sells a quarter of the beer sold worldwide, has benefited from its growth and is promoting higher-priced “premium” beer, non-beer products such as selzer, canned beer and cocktails. It should accelerate growth by promoting and selling more, Dukeris said. online.

The group also explores barley brewing by-products such as protein and fiber. These are currently sold “almost free” but can be incorporated into plant-based foods.

Doukeris, a former sales manager and head of North American operations at AB InBev, has replaced Carlos Brito, a Brazilian who has steered for 15 years to create the world’s largest brewery.

Brito drove growth through acquisitions and cost savings. His successor is further focused on increasing sales of more than 500 brands, including seven of the world’s top 10 beers, in an already concentrated market.

In the decade 2010-2019, AB InBev’s interest, taxes, depreciation and pre-amortization profit (EBITDA) increased by an average of 7.3% and then decreased by 2.4% in the pandemic of 2020. bottom. This year’s increase is% -12%.

The goal of “organic” EBITDA growth is to eliminate the impact of currency changes, as well as acquisitions and sales, in converting revenue from overseas businesses.

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AB InBev sets first profit growth target under new chief by Reuters

Source link AB InBev sets first profit growth target under new chief by Reuters

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