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Anheuser-Busch In Bev SANV: 1 director

A director at Anheuser-Busch In Bev SANV sold/sold after exercising options 34,935 shares at 57.500EUR and the significance rating of the trade was 100/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's...

Wim Hoste
  • Wim Hoste

AB InBev Feedback conference call

Below are the highlights from the conference call. Despite weaker than expected 4Q volumes (-1.9% y/y), ABI reported 10% organic EBITDA growth which was 3% above our forecast and 2% above CSS. FY25 guidance of 4-8% organic EBITDA growth is in line with mid term guidance. We still see ABI as the undisputed leader in the beer space, with leading market shares in many markets, ongoing digitization and premiumization trends allowing to generate healthy free cash flows. Valuation remains attractive w...

ING Helpdesk
  • ING Helpdesk

Benelux Morning Notes

AB InBev: Cash is King. Adecco: 4Q24 result beats by 6%, stabilising trends in 4Q24, balance sheet relief. ASM International: 1H25 guidance slightly better but orders missed in 4Q24. Colruyt: Expects to open OKay stores on Sundays. Deceuninck: Soft FY24 results due to Turkey. DEME Group: Strong FCF. JDE Peet's: Mean green beans. Kinepolis: Peer AMC 4Q24 results. NEPI Rockcastle: Strong performance at all levels. Wolters Kluwer: FY24 results; in line, new CEO in 2026

Guy Sips ... (+6)
  • Guy Sips
  • Kristof Samoy
  • Michiel Declercq
  • Thibault Leneeuw
  • Thomas Couvreur
  • Wim Hoste

Morning Notes : ABI BB, ABN NA, AED BB, ASM NA, DECB BB, IBAB BB, VPK ...

: ABI BB, ABN NA, AED BB, ASM NA, DECB BB, IBAB BB, VPK NA, WKL NA, AZE BB, DEME BB, JDEP NA

Wim Hoste
  • Wim Hoste

AB InBev FIRST LOOK: 4Q: weak volume, solid EBITDA - FY25: +4-8% EBITD...

Despite weaker than expected 4Q volumes (-1.9% y/y), ABI reported 10% organic EBITDA growth which was 3% above our forecast and 2% above CSS. FY25 guidance of 4-8% organic EBITDA growth is in line with mid term guidance. We still see ABI as the undisputed leader in the beer space, with leading market shares in many markets, ongoing digitization and premiumization trends allowing to generate healthy free cash flows. Valuation remains attractive with EV/EBITDA25e at 8.9x and FCF yield25e at 7.3% a...

 PRESS RELEASE

AB InBev Reports Full Year and Fourth Quarter 2024 Results

BRUSSELS--(BUSINESS WIRE)-- Anheuser-Busch InBev (Brussel:ABI) (BMV:ANB) (JSE:ANH) (NYSE:BUD): This press release features multimedia. View the full release here: Figure 14. Terms and debt repayment schedule as of 31 December 2024 (billion USD) (Graphic: Business Wire) Regulated and inside information1 “Beer is a passion point for consumers and a vibrant category globally. The strength of our 2024 results is a testament to the consistent execution of our strategy and the hard work and dedication of our people. We delivered EBITDA growth at the top-end of our outlook and a step change in our...

 PRESS RELEASE

AB InBev publie les résultats de l’exercice et du quatrième trimestre ...

BRUXELLES--(BUSINESS WIRE)-- Anheuser-Busch InBev (Brussel:ABI) (BMV:ANB) (JSE:ANH) (NYSE:BUD): Ce communiqué de presse contient des éléments multimédias. Voir le communiqué complet ici : Tableau 14. Echéancier de remboursement des dettes au 31 décembre 2024 (milliards d'USD) (Graphic: Business Wire) Information réglementée et privilégiée1 « La bière est une véritable passion pour les consommateurs et une catégorie dynamique à l’échelle mondiale. La solidité de nos résultats en 2024 témoigne de l’exécution cohérente de notre stratégie ainsi que du travail acharné et du dévouement de nos équ...

Reg Watson ... (+2)
  • Reg Watson
  • CFA

US beer market/Trumped up beer

We have been Sellers of Heineken for the past four years and Holders of AB InBev for an even longer period of time. Following the share price underperformance of both companies, we upgrade Heineken to a HOLD and AB InBev to a BUY. We believe the market is overly penalising Heineken for the threat of US tariffs on imported beer while failing to price in the upside which would accrue to AB InBev if the tariffs are implemented.

Hilde Van Boxstael ... (+5)
  • Hilde Van Boxstael
  • Kristof Samoy
  • Michiel Declercq
  • Thomas Couvreur
  • Wim Hoste
Wim Hoste
  • Wim Hoste

AB InBev King of beers but growth rates coming down

ABI's organic volume growth has been negative in 2023 and 2024E. Whilst part of the poor volume performance stems from the US Bud Light woes, we wonder what the role of price elasticity and structural changes in consumer habits might be and decided to lower our structural volume growth forecast until the end of the decade to only 1%. Taking into account persistent negative FX headwinds, we forecast a 3.5% adjusted EBITDA CAGR until 2030, or +4% on an organic basis (at the low end of the mid term...

Guy Sips ... (+5)
  • Guy Sips
  • Hilde Van Boxstael
  • Michiel Declercq
  • Wim Hoste
  • Wim Lewi
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