Report
Fatma Agnès Hamdani

Anheuser-Busch InBev : All of the risk priced into the share

>Beer less subject to US and Chinese risk than spirits - Compared with spirits groups with high valuations (see table) and no exemption from short-term risk on their two key markets (China: slowdown in consumption and US increase in customs duties), brewers appear to be protected in this regard. Indeed, beer is a domestic activity and therefore little impacted by US customs duties (imported European beers represent a very small segment vs beers imported from Mexico to...
Underlying
Anheuser-Busch InBev SA/NV

Anheuser-Busch Inbev is engaged in the brewing of beer. Co. manages a portfolio of well over 200 brands that includes brands such as Budweiser, Stella Artois and Beck's; multi-country brands such as Leffe and Hoegaarden; and other brands such as Bud Light, Skol, Brahma, Quilmes, Michelob, Harbin, Sedrin, Klinskoye, Sibirskaya Korona, Chernigivske and Jupiler. Co. also produces and distributes soft drinks, particularly in Latin America. Co.'s operations are organized along seven business segments: North America, Mexico, Latin America North, Latin America South, Europe, Asia Pacific and Global Export & Holding Companies.

Provider
Oddo BHF
Oddo BHF

​Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.

Analysts
Fatma Agnès Hamdani

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