Tag Archives: AB Inbev

AB InBev expects capacity expansion in Sagamu brewery to reach $400m

Anheuser-Busch InBev (AB InBev) has said it expects its investment in the newly built Sagamu Brewery to hit $400 million.

The company’s Chief Executive Officer, Carlos Brito, disclosed this on Wednesday while responding to reporters’ questions at a media briefing in Johannesburg, South Africa.

EU Competition Commission fines AB InBev €200m for impeding cross-border trade

The European Competition Commission has levied a fine of €200 million on Anheuser-Busch InBev in its Belgian home market for abusing its dominant market position to keep price of its popular Jupiler beer brand high.

Margrethe Vestager, EU competition commissioner, said: “Consumers in Belgium have been paying more for their favourite beer because of AB InBev’s deliberate strategy to restrict cross-border sales between the Netherlands and Belgium.

AB InBev seeks to raise cash from Asia Business unit

Anheuser-Busch InBev (AB InBev) said on Friday that it has applied to the Hong Kong stock exchange to sell shares in its Asia business unit known as Budweiser Brewing Company APAC.

The world’s largest brewing company is looking to sell 15% of its Asia unit to investors to raise about $5bn to $6bn dollars in an Initial Public Offering (IPO), according to sources close to the deal.

AB InBev Q1 performance weighed by low consumer demand, Easter timing in key markets

AB InBev reported first quarter sales decline of 3.9% on Tuesday despite posting strong sales growth in key markets around the world. Revenue fell to $12.59bn from $13bn, adversely impacted by lower volumes in markets such as South Africa and Argentina, where the consumer remains under pressure due to challenging macroeconomic conditions.

AB InBev UK rebrands with name change

Anheuser-Busch InBev (AB InBev) has announced a name change in the UK to Budweiser Brewing Group UK&I. AB InBev which has a long list of strong internationally recognizable brands including Stella Artois, Budweiser, Corona, Michelob Ultra, Bud Light, Beck’s, among others said that it decided on Budweiser because it is the company’s most globally recognizable brand, according to an emailed statement.

AB InBev reorganizes board; appoints new board chairman, others

Anheuser-Busch InBev has announced the appointment of Martin Barrington as its new board chairman. Mr Barrington, a former chief executive officer of cigarette maker Altria Group, a major shareholder of AB InBev with 10.2% stake, has been on the company’s board since 2016.

AB InBev posts weak results amid low consumer demand, hedging losses

AB InBev on Thursday reported a 15% decline in profit for the full year 2018, to $6.8bn. The brewing giant put the blame on consumption contraction in key markets – Brazil, Argentina, United States and South Africa as well as hedging losses linked to its share-based payment programs.

The company said that total beer volumes fell by 7.43%, although combined revenues of its three global beer brands – Budweiser, Stella Artois and Corona grew by 9%.

Full year revenue declined by 3% to $54.6bn from $56.4bn in 2017.

AB InBev suffers Moody’s credit rating downgrade as it struggles to pare down huge debt

Anheuser-Busch InBev’s credit rating has been slashed to the lowest tier of investment-grade, according to Moody’s Investors Service, which warned that the company is struggling to reduce its $100bn debt load.

The credit rating firm said it lowered the brewer’s Senior Unsecured debt ratings to Baa1 from A3, putting the company three levels away from junk rating, Moody’s said on Monday.

AB InBev profit takes a knock amidst sales decline

Anheuser-Busch InBev said its profits for the third quarter of 2018 fell 37.4% to $1.6bn from $2.6bn in the prior year, and declined 11.7% to $5.2bn from $5.9bn in the nine months to the end of September. The drop came amidst a 10% drop in third quarter revenue to $13.2bn and a 3.5% decrease in nine months sales to $40.4bn.

Int’l Breweries unveils new N90bn brewery in Sagamu

International Breweries Plc, has commissioned its N90bn ($250m) state-of-the art brewery in Sagamu, Ogun State.

The brewer which is the Nigerian subsidiary of Anheuser-Busch InBev has promised to create 600 direct and over 2000 indirect jobs along the value chain.

Nigeria’s President, Muhammadu Buhari, who commissioned the plant on Tuesday restated the government’s commitment to securing the business environment so that foreign direct investment (FDI) could flow into the country.