Anheuser-Busch InBev ended 2021 with better-than-expected results because of price increases, and executives are optimistic about 2022 because beer-drinkers are patronizing establishments where they drink more beer than they would at home, Reuters reported Thursday (Feb. 24).
The world’s largest brewer, Belgium-based Anheuser-Busch InBev produces Budweiser, Corona and Stella Artois.
Reuters reported that Chief Executive Officer Michel Doukeris told the wire service inflation would be a factor in profits, but would be offset by the return of festivities.
“There is a balance to that, which is occasions that were not part of last year that will be back in play this year,” he said. He cited, as examples, Chinese New Year and events in Europe that are returning to something like normalcy.
As for the Super Bowl — the United States is the company’s biggest market — more 35% more beer was consumed during the week of 2022’s Super Bowl than in the same week a year ago, Reuters reported. Moreover, the 2022 level was 6% higher than before the pandemic.
Highlights in the 2022 forecast contained in the beermaker’s annual report include: revenue growth due to “a healthy combination of volume and price,” and net capital expenditure of between $4.5 billion and $5 billion.
The company reported gross profit of $31.2 billion on revenue of $54.3 billion for the fiscal and calendar year ended Dec. 31, compared with gross profit of $27.2 billion on revenue of $46.9 billion for the fiscal and calendar year 2020.
In China, the company reported, profit and revenue grew by double digits and by the end of 2021 had surpassed prepandemic levels. The report states that in China, the company “addressed new consumer trends and occasions through the expansion of Budweiser Supreme as well as the launch of various flavor options, including Hoegaarden Fruity and Corona Sea Salt Guava.”
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