AB InBev Q3 Profit Declines

(RTTNews) - Anheuser-Busch InBev (AHBIF.PK, BUD) reported that its third-quarter normalized profit attributable to equity holders decreased to $1.67 billion from $2.31 billion, last year, with organic EBITDA growth being more than offset by unfavorable currency translation, and higher net finance results. Normalized earnings per share decreased to $1.02 from $1.42. Normalized EBITDA was $4.40 billion compared to $4.74 billion, prior year. Organic growth in Normalized EBITDA was 9.6% with a margin expansion of 58 bps, driven mainly by the strong top line result and a good cost of sales performance.

Profit attributable to equity holders of AB InBev was $1.37 billion compared to $2.50 billion. Earnings per share was $0.84 compared to $1.53.

Revenue was $11.38 billion, compared to $12.24 billion, prior year. Organic growth was 7.9%, with solid revenue per hl growth of 6.3%. On a constant geographic basis, revenue per hl grew by 7.8%. Total volumes grew by 1.5%, with own beer volumes up 2.3%, and non-beer volumes down 6.1%.

The AB InBev board has approved an interim dividend of 1.60 euros per share for the fiscal year 2015. The shares will trade ex-coupon as of 9 November 2015, and dividends will be payable as from 16 November 2015. The record date will be 13 November 2015.