AB InBev’s earnings before interest, taxes, depreciation and amortisation (EBITDA) grew by 10.2% for the second quarter of 2024, reaching $5.3 bn (€4.9 bn), the world's biggest brewing group announced on Thursday.
Underlying profit (profit attributable to equity holders) amounted to $1.8 bn (€1.7 bn), up from $1.4 bn (€1.3 bn) in the second quarter of 2023. Turnover for the group grew by 2.7%, totalling $15.33 bn (€14.18 bn).
The rise in profits came despite Q2 total volumes falling by 0.8%, with the group’s own beer volumes down by 1.3% and non-beer volumes up by 3.4%.
'Global momentum continued'
AB InBev expects its EBITDA in 2024 to grow in line with its mid-term outlook of between 4-8%.
“EBITDA grew by double-digits and the continued optimization of our business drove a 25% increase in Underlying EPS. We are encouraged with our performance in the first half of the year and remain focused on executing our strategy” said Ab InBev’s CEO Michel Doukeris.
