Belgium · Delayed Price · Currency is EUR Anheuser-Busch InBev Earnings Call Transcripts
Fiscal Year 2025
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Delivered EPS and EBITDA growth with margin expansion and strong free cash flow, driven by premiumization, innovation, and digital platforms. Entering 2026 with improved momentum, robust capital allocation, and a positive outlook for further growth.
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Delivered top and bottom-line growth with margin expansion despite headwinds in China and Latin America. Announced a $6B share buyback, interim dividend, and strong performance in premium and beyond beer segments, maintaining confidence in 2025 EBITDA growth outlook.
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EBITDA grew 6.5% and margins expanded, driven by premium brands and strategic revenue management. Despite a 1.9% volume decline, revenue rose 3% and EPS increased 8.7% in USD. Strong cash flow and deleveraging improved financial flexibility.
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EBITDA grew 7.9% with margin expansion, and underlying EPS rose 7% in USD and 20% in constant currency. Despite a 2.2% volume decline from calendar effects, revenue increased 1.5%, and premiumization and innovation drove growth across key markets.
Fiscal Year 2024
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All-time high revenues and strong EBITDA growth were achieved, with margin expansion and record free cash flow. Deleveraging milestones increased capital allocation flexibility, while premiumization and digital platforms drove performance. 2025 guidance targets 4%-8% organic EBITDA growth.
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Revenue grew in over 60% of markets, with 7.1% EBITDA growth and margin expansion. A $2B share buyback was announced, and full-year EBITDA guidance was raised to 6%-8%. Premiumization, digital platforms, and strong Mega Brands drove performance.
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Revenue grew in 65% of markets, with EBITDA up 10.2% and EPS up 25% year-over-year. Margin expansion occurred in all regions, while digital and premiumization strategies drove growth. Net leverage improved, and the company reaffirmed its 4%-8% EBITDA growth guidance.