Report
Fatma Agnès Hamdani

Anheuser-Busch InBev : Disappointing Q2 results, dividend halved

>Why did not the group decide to pay the dividend in shares? - The group’s decision to reduce the dividend (€ 1.8 for 2018 vs € 3.6 in 2017) bears out the market’s recent concerns around the group's capacity to pay down its debt and quickly achieve its target (maintained) of 2x for net debt/EBITDA. It confirms that the group does not have as good a handle as it says on the disconnect between EBITDA that is mainly in emerging market currencies and debt in strong curren...
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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