Anheuser-Busch InBev : Market reaction too negative on H1; € 75 TP and Outperform reiterated
>Volumes and revenues strong, but underlying EBITDA disappointing - Compared with consensus (our forecasts were materially lower), Anheuser-Busch InBev’s (ABI’s) organic volume growth and organic sales growth came in stronger than expected in Q2 2021. North America and Asia Pacific disappointed, but the other three zones outperformed expectations. Organic EBITDA growth amounted to 31%, below consensus of 35.3%. On a reported basis, adjusted EBITDA included $ 226m rela...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.
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.
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