Budweiser beer in an IGA grocery store in Montreal, Quebec, Canada, on Tuesday, Feb. 4, 2025.
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The world’s largest brewer AB InBev on Wednesday posted better-than-expected fourth-quarter sales despite an annual decline in volumes.
The drinks maker, whose brands include Budweiser, Corona and Stella Artois, reported an 3.4% increase in fourth-quarter revenue to $14.84 billion, versus the 2.9% decline to $14.05 billion forecast by LSEG analysts.
Full-year sales rose by 2.7% to $59.77 billion, compared to the $59.3 billion performance expected by analysts.
Total volumes declined 1.9% in the quarter and 1.4% over the full-year stretch, which the company largely attributed to weak demand in China and Argentina.
The decline in volumes was led by lower demand for the group’s beer products, compared with its non-beer brands, such as its cocktail products Cutwater Spirits and Brutal Fruit Spritzer.
The company nevertheless said it was confident about the continued resilience of global beer demand.
Looking ahead, it said it was targeting earnings before interest, taxes, depreciation, and amortization (EBITDA) growth in 2025 in line with the company’s medium-term outlook of between 4% to 8%.
This is a breaking news story and will be updated shortly.