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Shares in Anheuser-Busch InBev NV fell sharply on Thursday after the company that brews Corona beer reported weaker drinks volumes in the first half of 2025, hurt by China and Brazil, though profit rose. The Leuven, Belgium-based brewer reported attributable profit of $3.82 billion for the six months that ended June 30, up 49% from $2.56 billion a year earlier. For the second quarter alone, attributable profit was up 14% to $1.68 billion from $1.47 billion. In Johannesburg, AB InBev shares were down 9.1% to R 1,087.41 on Thursday morning. They were down 9.5% to €52.58 in Brussels. First half revenue fell 4.2% to $28.63 billion from $29.88 billion a year before, while the second-quarter top-line was down 2.2% to $15.00 billion from $15.33 billion, due to lower volumes. Beer and non-beer volumes were 2.0% lower at 279.6 million hectolitres in the first six months of 2025 from 285.8 million a year before, while second-quarter volumes were down 1.9% to 143.3 million hectolitres from 146.3 million. Volumes took a kick from weak performances in China and Brazil, both targets of US tariff hikes. In Brazil, total volumes declined 2.4% in the first half and by 6.5% in the second quarter. Volumes in China fell by the same percentages in both periods. AB InBev said normalised earnings before interest, tax, depreciation, and amortisation for the first half was down 1.3% to $10.16 billion from $10.29 billion, while normalised Ebitda for the second quarter was flat at $5.30 billion. Basic earnings per share for the first half rose 50% to $1.92 from $1.28, and basic EPS for the second quarter was up 15% to $0.84 from $0.73. ‘The resilience of the beer category and the continued momentum of our megabrands delivered another quarter of profitable growth,’ AB InBev Chief Executive Officer Michel Doukeris said. ‘While the operating environment remains dynamic, the consistent execution of our strategy by our teams and partners drove a solid first half of the year and reinforces our confidence in delivering on our outlook for 2025.’ AB InBev expects Ebitda to grow in line with its medium-term outlook of between 4% and 8%. Copyright 2025 Alliance News Ltd. All Rights Reserved.
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