"Volumes in Brazil in March, in particular, were more challenging than expected," Anheuser-Busch Inbev (BUD) says, impacted by high food inflation and a slowdown in the growth of disposable income. "We expect these factors to continue to put pressure on volumes in the short term. We are therefore revising our outlook for volume growth in Brazil and now expect that beer industry volumes in FY13 will be either flat or down low single-digits compared to FY12."
Anheuser-Busch Inbev (BUD): Q1 Ebitda of $3.43B misses by $0.14B. Revenue +1.5%. Volume declined by 4.1%, led by an 8.2% plunge in Brazil; China volume rose 15.5%. Cost of sales rose 3.8% due to input costs. Gross margins shrunk 96 bps to 57.4%. Shares -2.9% in Brussels. (PR, Bloomberg)
Companhia de Bebidas das Américas—AmBev is the successor of Companhia Cervejaria Brahma (“Brahma”) and Companhia Antarctica Paulista Indústria Brasileira de Bebidas e Conexos (“Antarctica”), two of the oldest brewers in Brazil. Antarctica was founded in 1885. Brahma was founded in 1888 as...More