Report
Fatma Agnès Hamdani

Anheuser-Busch InBev : Trois risques potentiels sans fondement

>Une valorisation qui intègre de nombreux risques - La sous-performance du titre ABI par rapport à ses pairs (sur 12 mois : -30% par rapport à Carlsberg, -20% par rapport à Heineken) reflète les interrogations du marché à trois niveaux. Le groupe pourra-t-il faire face à son endettement massif dans les années à venir ? (108,8 Md£ au 30 juin 2018, soit un ratio de dette nette/EBITDA de 4.9x) Y-at-il un risque de réduction (ou de disparition) du dividende à l’...
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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