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Anheuser-Busch sees return to pre-pandemic levels as beer sales surge

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Anheuser-Busch InBev, the world’s largest brewer, restored second-quarter revenue to pre-pandemic levels and beat market expectations for profit as drinkers took advantage of eased restrictions in its major markets.

A year on from its worst quarter of the COVID-19 crisis, the Belgium-based brewer benefited from increased beer consumption across the Americas, in Europe and South Africa, including a leap of more than 50% in Colombia.

Only in China, which moved out of its coronavirus lockdown earlier in 2020, were beer volumes lower.

The brewer of Budweiser, Stella Artois and Corona, retained its forecast that core profit (EBITDA) would grow by between 8 and 12% this year, with revenue increasing by a faster pace with healthy volumes and prices.

In the second quarter, earnings before interest, tax, depreciation and amortization (EBITDA) rose 31% on a like-for-like basis to $4.85 billion, against consensus expectations for a 19% increase.

(Reporting by Philip Blenkinsop; Editing by Anil D’Silva)

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SourceReuters

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