Belgian multinational brewer AB InBev (EBR:ABI), the largest in the world, reached a historical maximum in its sales volumes in 2022, which translated into a net profit of 6,454 million dollars (6,071 million euros), 12.77% more than the previous year, the company reported Thursday.
As for the fourth quarter of 2022, AB InBev, owner of brands such as Budweiser, Stella Artois or Corona, achieved a profit of 1,965 million dollars (1,847 million euros), 9.35% more than the same period of the previous year.
The company’s overall revenue growth translated into “record volumes and strong results,” thanks to the “consistent” execution of its strategy and the strength of the beer category worldwide.
“We have achieved unprecedented annual volumes, with revenue per hectolitre accelerating,” AB InBev CEO Michel Doukeris said in a statement.
Between January and December, the gross operating result (ebitda) reached 19,843 million dollars (18,655 million euros), an increase of 3.3% compared to that registered in the twelve months of 2021.
Despite the challenges of 2022, such as economic uncertainties, high input costs and supply chain disruptions that the company says limited its full “growth potential”, Ab InBev’s EBITDA grew above its outlook for the year.
The multinational’s revenues increased in 2022 by 6.4% to 57,786 million dollars (54,327 million euros), while total sales volumes set a historical record for the brewery by growing by 2.3%, to 595,133 hectoliters.
Earnings per share were 3.21 dollars (3.02 euros) in 2022, above the 2.85 dollars (2.68 euros) recorded between January and December 2021.
As for the last quarter of the year, EBITDA registered an increase of 1.33% to achieve 4,947 million dollars (4,650 million euros).
Ab InBev’s revenues reached between September and December 14,668 million dollars (13,790 million euros), 3.3% more than the same period of 2021.
However, total sales volumes fell by 0.58% to 148,775 hectolitres.
By geographical area, the company recorded record sales volumes in Brazil and South Africa and double-digit revenue growth in Europe
In the United States, the multinational’s revenues grew by 2.3% this year.
For 2023, the company’s outlook is positive as it expects its gross operating income to grow between 4% and 8% and revenues to grow even above “thanks to a healthy combination of volume and price”.
Its outlook, Ab InBev says, reflects the brewer’s assessment of inflation and other macroeconomic conditions.
“We continue to invest in our people and evolve our culture with significant improvements to our operating model to further entrench a mindset of long-term growth and value creation across our organization,” said Ab InBev.
