InBev: Difficult start, but fundamentals remain unchanged
Dated: 5 June 2008
Brewer InBev has announced its results for the first quarter of 2008 (1Q08).
Total volumes declined by 0.4% in the quarter, while the company’s beer volumes were 0.7% below last year. This is driven primarily by weak industry performance in Brazil.
Total revenue grew by a solid 4.8% during 1Q08, while revenue per Hl grew 5.2%.
Consolidated cost of sales (CoS) per Hl grew by 9.9% in 1Q08, reflecting the impact of higher input costs year-on-year (yoy) versus a very low base in 1Q07.
Asia Pacific had an EBITDA of 36 million euro ($55.64 million), which is -14.1% / down 7 million euro, as increased revenue was not able to offset higher cost of sales and commercial expenses.
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