Corona Owner AB InBev Reports Volume Decline but Remains on Track for Full-Year Profit

AB InBev, the parent company of well-known brands such as Budweiser, Corona, and Stella Artois, has announced a rise in profits for its third quarter, despite a decline in overall volumes due to challenging consumer conditions. For the third quarter of 2024, the alcohol manufacturer reported a profit increase of 13.9%, reaching £1.48 billion ($1.97 billion), while sales grew modestly by 2.1%. However, total volumes saw a decline of 2.4%, with beer volumes falling by 3.1% and non-beer volumes experiencing a slight increase of 0.6%.

Among its “megabrands,” which include Brahma, Cass, and Skol, AB InBev saw a notable 3.1% boost, driven primarily by the beer brand Corona, which enjoyed a 10.2% growth outside its home market during the third quarter.

CEO Michel Doukeris expressed confidence in the company’s ability to achieve its raised EBITDA growth outlook of 6% to 8% for the 2024 financial year. He stated, “Beer is a passion point for consumers. Consumer demand for our megabrands and the execution of our mega platforms delivered another quarter of top- and bottom-line growth with margin expansion.”

This trading update comes on the heels of AB InBev’s UK division reporting widened losses over the past financial year, even as the company implemented price increases.