AB InBev fights flat sales with cost cuts
By Aoife White |
March 5, 2010, Friday
|
Print Edition
Print Edition
THE world's largest brewer and maker of Budweiser yesterday reported a fourth-quarter profit of US$1.28 billion, helped by cost cuts and price rises, but said beer sales were stagnant and forecast no improvement in 2010.
Anheuser-Busch InBev SA sold 0.7 percent less beer and soft drinks in 2009 during the downturn and says global beer demand is neither growing nor shrinking.
"We see no improvement in the operating environment today," the company's Chief Financial Officer Felipe Dutra told reporters.
Other brewers Heineken and SABMiller have also reported flat or falling beer sales for last year.
AB InBev said the US$1.28 billion profit for the three months ending December 31 was some 17 percent lower than the third quarter but far higher than the US$29 million it reported a year ago.
Revenues in the fourth quarter were US$9.29 billion, down from US$9.76 billion in the third quarter but up nearly 4 percent from US$8.96 billion in 2008's fourth quarter. Fourth-quarter volumes climbed 1 percent from a year ago.
For all of 2009, AB InBev made a profit of US$4.6 billion and had US$36.76 billion in revenues. The brewer said it now depends on emerging markets for half its revenue.
Anheuser-Busch InBev SA sold 0.7 percent less beer and soft drinks in 2009 during the downturn and says global beer demand is neither growing nor shrinking.
"We see no improvement in the operating environment today," the company's Chief Financial Officer Felipe Dutra told reporters.
Other brewers Heineken and SABMiller have also reported flat or falling beer sales for last year.
AB InBev said the US$1.28 billion profit for the three months ending December 31 was some 17 percent lower than the third quarter but far higher than the US$29 million it reported a year ago.
Revenues in the fourth quarter were US$9.29 billion, down from US$9.76 billion in the third quarter but up nearly 4 percent from US$8.96 billion in 2008's fourth quarter. Fourth-quarter volumes climbed 1 percent from a year ago.
For all of 2009, AB InBev made a profit of US$4.6 billion and had US$36.76 billion in revenues. The brewer said it now depends on emerging markets for half its revenue.
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