BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - Belgian drink and brewing company Anheuser-Busch InBev NV/SA (BUD) reported Thursday higher first-quarter profit, while Normalized EBITDA declined from last year with weak revenues and volume.
Looking ahead for fiscal 2025, the company continues to expect EBITDA to grow in line with medium-term outlook of between 4 percent and 8 percent.
In the first quarter, profit attributable to equity holders grew to $2.15 billion from last year's $1.09 billion, positively impacted by non-underlying items.
Basic earnings per share grew to $1.08 from prior year's $0.54.
Underlying profit was $1.61 billion, compared to $1.51 billion a year ago. Underlying earnings per share were $0.81, compared to $0.75 in the prior year.
Normalized EBIT was $3.59 billion, lower than last year's $3.64 billion. Organically, the growth was 10.3 percent. Normalized EBITDA declined to $4.86 billion from $4.99 billion last year. Organic growth was 7.9 percent.
Normalized EBITDA margin, however, improved to 35.6 percent from 34.3 percent last year.
Revenue for the quarter dropped 6.3 percent to $13.63 billion from $14.55 billion a year ago. Organically, revenue increased by 1.5 percent with revenue per hl growth of 3.7 percent.
The company recorded 4.4 percent organic increase in combined revenues of its megabrands, led by Corona, which grew by 11.2 percent outside of its home market.
Volumes declined 2.2 percent organically, with beer volumes down by 2.5 percent and non-beer volumes down by 0.2 percent. Volume performance was impacted by calendar-related factors such as cycling the leap year selling-day benefit last year and Easter shipment phasing.
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