Report
Robert Jan Vos

Anheuser-Busch InBev S.A. / N.V. : A solid start to 2023; increase in guidance expected later in the year

>ABI outperformed expectations on most key metrics in Q1 2023 - ABI’s Q1 2023 results were strong, with organic revenue growth, EBITDA growth (+13.2%), net profit and EPS all outperforming our and consensus expectations. The only small miss at the group level was volume growth, which came in at 0.9% (10bps below consensus). The argument that the beat could predominantly be attributed to hyperinflation-country Argentina is weak, as Argentinean inflation has been around...
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
Robert Jan Vos

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