Anheuser-Busch InBev reports total revenue rose 17.2% to $12.3 billion as volume advanced 13.3% to $135.56 billion. But the company’s underlying net profit advanced just 8.4% to $1.1 billion.
Vo,lume growth in North America was the mot anemic in all six of ABI’s regions, except for Europe, Middle East and Asia, where it actually decline 2.1%. In North America, volume inched up 2.9%, the company said.
Sales-to-wholesalers (STWs) in the U.S. grew 2.9% and revenue per hl grew 2.4%, resulting in total revenue growth of 5.4%. ABI’s sales-to-retailers (STRs) were down by 0.8%, estimated to be below the industry, largely due to a challenging comparable from ‘pantry-loading’ behavior in March 2020. This impact has been temporary, as healthy volume growth in April has brought our STRs back to growth year-to-date April 2021. EBITDA grew by 1.3% in the quarter.
ABI said it continues to strengthen and preimmunize its portfolio, rebalancing toward faster growing above core segments. It said its first quarter results were fueled by innovations. Its above core beer offerings continue to outperform, highlighted by the strong growth of Michelob Ultra and craft brands. Our seltzer portfolio continues to grow ahead of the industry according to IRI, and we delivered triple-digit growth of its canned cocktail brand, Cutwater.