Hong Kong · Delayed Price · Currency is HKD Budweiser Brewing Company APAC Earnings Call Transcripts
Fiscal Year 2026
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APAC volume returned to growth, led by India, while China showed sequential improvement despite a year-over-year decline in revenue and EBITDA. Increased investments pressured margins, but premiumization and innovation remain key strategies.
Fiscal Year 2025
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2025 saw volume and revenue declines, with China underperforming but showing early signs of stabilization. South Korea and India delivered market share and EBITDA growth, with India’s premiumization driving strong results. Strategic focus for 2026 is on reigniting growth in China and leveraging digital and channel expansion.
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Nine-month 2025 results showed volume and revenue declines due to China’s weakness, but India and South Korea delivered strong growth and margin expansion. Strategic focus is on premiumization, in-home channel growth, and innovation, with ongoing inventory management and digital expansion.
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First half 2025 saw volume and revenue declines, especially in China, but margin expansion in key segments and strong growth in India. Strategic focus remains on premiumization, in-home channel expansion, and disciplined capital allocation to drive long-term growth.
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Q1 2025 saw revenue and volume declines due to China weakness, offset by strong growth in South Korea and India. Management is focused on premiumization, in-home channel expansion, and disciplined execution, with inventory normalization expected by H2 2025.
Fiscal Year 2024
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2024 results showed volume and revenue declines due to China softness, but South Korea and India delivered strong growth. Strategic focus for 2025 is on market share in China, premiumization in Korea, and continued expansion in India.
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Nine-month 2024 results showed volume and revenue declines due to China weakness, but strong growth in South Korea and India, with premiumization and innovation driving gains. Margin expansion in Korea and ongoing cost efficiencies support a positive long-term outlook.
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First half 2024 saw flat EBITDA as strong growth in South Korea and India offset declines in China, with margin expansion driven by premiumization and cost management. Strategic investments in digital, innovation, and sustainability continue, while a robust balance sheet supports ongoing dividend growth.