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Anheuser-Busch InBev Q1 Underlying Profit Rises; Total Revenue Up 11.1%

Anheuser-Busch InBev (AHBIF.PK,BUD) reported that its first quarter underlying profit to equity holders increased to $1.20 billion from $1.10 billion, last year. Underlying earnings per share was $0.60 compared to $0.55. Normalized profit attributable to equity holders increased to $1.34 billion from $1.01 billion. Normalized earnings per share was $0.67 compared to $0.51.

Profit to equity holders declined to $95 million from $595 million, prior year. Earnings per share was $0.05 compared to $0.30.

First quarter revenue was $13.235 billion, up 11.1% with revenue per hl growth of 7.8%. Total volumes grew by 2.8%, with own beer volumes up by 2.2% and non-beer volumes up by 6.0%.

"Relentless execution of our strategy and accelerated digital transformation drove continued momentum in the first quarter, delivering an 11.1% increase in the top-line through a combination of both volume and revenue per hl growth. Our teams continued to meet the moment in this dynamic operating environment to deliver 7.4% EBITDA growth," said Michel Doukeris, CEO.

For 2022, the company expects EBITDA to grow in-line with medium-term outlook of between 4-8% and revenue to grow ahead of EBITDA from a healthy combination of volume and price.

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