BUD:MOL Income Statement

Financials in millions HUF. Fiscal year is January - December.

Millions HUF. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar '26 Mar 31, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Revenue	8,542,167	8,696,283	9,178,677	8,908,499	9,868,163	5,766,751
Revenue Growth (YoY)	-8.19%	-5.26%	3.03%	-9.72%	71.12%	43.77%
Cost of Revenue	6,434,195	6,597,395	7,084,826	6,759,874	7,201,857	4,092,622
Gross Profit	2,107,972	2,098,888	2,093,851	2,148,625	2,666,306	1,674,129
Selling, General & Admin	552,324	549,891	485,541	426,185	360,751	315,570
Other Operating Expenses	639,515	551,034	591,789	619,273	599,655	336,315
Operating Expenses	1,749,718	1,651,406	1,554,556	1,445,503	1,454,245	1,096,346
Operating Income	358,254	447,482	539,295	703,122	1,212,061	577,783
Interest Expense	-26,020	-25,647	-21,636	-27,765	-15,279	-15,587
Interest & Investment Income	30,419	28,671	27,530	54,799	27,189	13,114
Earnings From Equity Investments	19,419	23,937	24,347	1,317	-29,486	21,515
Currency Exchange Gain (Loss)	27,908	60,957	-40,757	12,244	-72,300	-15,491
Other Non Operating Income (Expenses)	16,762	33,467	13,814	9,575	3,994	3,283
EBT Excluding Unusual Items	426,742	568,867	542,593	753,292	1,126,179	584,617
Impairment of Goodwill	-42,857	-42,857	-33	-43,240	-	-1,479
Gain (Loss) on Sale of Assets	4,767	4,767	28,926	9,765	10,809	4,396
Asset Writedown	-47,956	-47,956	-29,183	-28,399	18,306	-32,916
Pretax Income	340,696	482,821	542,303	691,418	1,155,294	554,618
Income Tax Expense	120,098	142,880	145,600	123,514	466,343	46,936
Earnings From Continuing Operations	220,598	339,941	396,703	567,904	688,951	507,682
Earnings From Discontinued Operations	-	-	-40,893	-449	223,297	42,453
Net Income to Company	220,598	339,941	355,810	567,455	912,248	550,135
Minority Interest in Earnings	-36,047	-41,888	-28,545	-37,537	-60,658	-23,213
Net Income	184,551	298,053	327,265	529,918	851,590	526,922
Net Income to Common	184,551	298,053	327,265	529,918	851,590	526,922
Net Income Growth	-51.82%	-8.93%	-38.24%	-37.77%	61.62%	-
Shares Outstanding (Basic)	749	749	742	741	738	719
Shares Outstanding (Diluted)	749	749	742	741	740	725
Shares Change (YoY)	-	0.90%	0.08%	0.17%	2.10%	1.81%
EPS (Basic)	246.49	398.11	441.08	714.81	1153.47	732.36
EPS (Diluted)	246.46	398.08	441.08	714.81	1150.65	726.94
EPS Growth	-	-9.75%	-38.30%	-37.88%	58.29%	-
Free Cash Flow	29,860	416,744	221,483	250,898	772,824	418,228
Free Cash Flow Per Share	39.88	556.64	298.51	338.44	1044.23	576.99
Dividend Per Share	-	-	165.000	150.000	152.260	100.000
Dividend Growth	-	-	10.00%	-1.48%	52.26%	5.24%
Gross Margin	24.68%	24.14%	22.81%	24.12%	27.02%	29.03%
Operating Margin	4.19%	5.15%	5.88%	7.89%	12.28%	10.02%
Profit Margin	2.16%	3.43%	3.56%	5.95%	8.63%	9.14%
Free Cash Flow Margin	0.35%	4.79%	2.41%	2.82%	7.83%	7.25%
EBITDA	930,497	1,012,327	1,028,237	1,120,467	1,696,792	1,042,737
EBITDA Margin	10.89%	11.64%	11.20%	12.58%	17.20%	18.08%
D&A For EBITDA	572,243	564,845	488,942	417,345	484,731	464,954
EBIT	358,254	447,482	539,295	703,122	1,212,061	577,783
EBIT Margin	4.19%	5.15%	5.88%	7.89%	12.28%	10.02%
Effective Tax Rate	35.25%	29.59%	26.85%	17.86%	40.37%	8.46%
Revenue as Reported	8,603,823	8,773,598	9,248,514	8,966,036	9,911,879	5,798,884
Advertising Expenses	-	20,282	20,050	19,206	18,238	16,211

Source: S&P Global Market Intelligence. Standard template. Financial Sources.