AB InBev, which owns brands including Budweiser, Stella Artois and Corona, has posted a first-quarter growth in profits of almost 9 percent, driven by price increases and volume recovery in a report released on Thursday (5).
Price hikes and consumers trading up to more expensive brews have propelled revenue, while higher costs for commodities and beer deliveries curbed profit.
The group saw a 6 percent increase in combined sales of its global brands, Budweiser, Stella Artois and Corona, outside their respective home markets.
Underlying profit in the first three months of 2022 was up 9 percent by £0.96 billion ($1.2 billion), compared to £0.88 billion ($1.1 billion) a year ago.
Total revenues were up 11.1 percent to £10.5 billion ($13.2 billion), up from £9.79 billion ($12.3 billion) last year.
Sales volumes also grew, increasing by 2.8 percent, with beer volumes up by 2.2 percent and non-beer volumes up by 6 percent.
AB InBev also said that revenue would grow at a faster pace than EBITDA, and the results for the first three months of the year were in line with that.
The results mirror those of Heineken and Carlsberg, the world’s second- and third-largest brewers, which have said that rising consumer prices have not so far dented demand for beer or for pricier premium brands.
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