Since 2021, Anheuser-Busch InBev ( BUD ) has done very little for its shareholders, apart from delivering a low dividend of around 1.8%. Widening the perspective, the share price has decreased in value for its owners since the SABMillerI am a dedicated financial risk manager and investor specializing in financials, consumer, and technology industries. I have been involved in the investing world for over seven years, making deep analyses and managing different types of portfolios.I believe in deep research, ...

Group 1 - Anheuser-Busch InBev SA/NV (BUD) is set to report earnings on May 8, with significant changes in operational conditions expected [1] - The upcoming earnings report will provide insights beyond just quarterly numbers, indicating a shift in the company's operational landscape [1] Group 2 - The company is under scrutiny for its performance metrics and competitive positioning in the market [1]

Core Insights - Anheuser-Busch has produced its 100 millionth can of emergency drinking water, highlighting its commitment to disaster relief efforts since 1988 [1][4] - The company is investing over $6 million to enhance capabilities at its Fort Collins brewery, which will improve the production of both beer and emergency drinking water [3][4] Investment and Production - The $6 million investment aims to strengthen Anheuser-Busch's brewing and packaging capabilities, further supporting its disaster relief initiatives [3] - Anheuser-Busch's breweries in Fort Collins, Colorado, and Cartersville, Georgia, are dedicated to producing emergency drinking water year-round to ensure availability during disasters [4] Partnerships and Community Impact - Anheuser-Busch collaborates with the American Red Cross and the National Volunteer Fire Council (NVFC) to deliver emergency drinking water to communities in need [5][6] - The company plans to deliver 1.5 million cans of emergency drinking water to over 630 volunteer fire departments across 45 states as part of its annual campaign [5] Historical Context - Anheuser-Busch has paused beer production at all 12 of its U.S. breweries at various times to produce emergency drinking water, demonstrating its long-standing commitment to community support [4] - More than 10% of the 100 million cans produced have been distributed to fire departments, providing essential resources and cost savings for these organizations [6]

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Shares of Anheuser-Busch InBev SA/NV (BUD) , alias AB InBev, have been doing well for a while, thanks to its robust strategic measures. Over the past three months, BUD shares have gained 25%, comfortably outperforming the broader Consumer Staples sector and the Zacks Beverages - Alcohol industry’s growth of 15.3% and 5.5%, respectively. The stock also surpassed the S&P 500 index’s drop of 10.2% in the same period.BUD’s Growth Efforts Bode WellThe company’s relentless execution, investment in brands and acce ...

Investment Rating - The report does not explicitly state an investment rating for the beer industry, but it discusses the high-end market growth and potential investment opportunities in this segment. Core Insights - The high-end beer market in China has entered a mid-stage of development, with significant growth in large single products and an expanding premium price segment [3][9]. - The report predicts a slowdown in the high-end trend from 2023 to 2024, with an optimistic CAGR of 7.33% for beer prices in China from 2022 to 2027 [4][6]. - The overall beer market has stabilized, with low-price competition failing to generate growth, making high-end upgrades the long-term driver for price increases in the industry [5][9]. Summary by Sections Industry Price and Volume Review - The beer industry in China has undergone three phases: growth (2000-2012), contraction (2013-2017), and a decline in production (2018-2023) [11][24]. - During the growth phase, revenue increased from 446 billion to 1612 billion CNY, with a CAGR of 11.3% driven by volume growth [11]. - The contraction phase saw a slight decline in revenue, with a CAGR of -0.7%, as low-end price wars failed to yield significant market share [11][24]. - The current phase (2018-2023) is characterized by a focus on high-end products, with revenue growth returning to 1863 billion CNY, reflecting a CAGR of 4.8% [11][24]. High-End Market Review - The high-end market has expanded significantly, with major domestic manufacturers developing large single products that have reached scales exceeding 400,000 tons [3][9]. - The competition in the high-end segment remains dynamic, with the potential for major shifts in market share as brands establish their flagship products [3][9]. - The report emphasizes that the high-end market's growth is supported by an increase in middle-income consumers and urbanization, which enhances purchasing power [35][36]. Price Forecasting - The report forecasts that the average price of beer in China will grow at a CAGR of approximately 7.33% from 2022 to 2027, aligning with historical trends observed in the U.S. beer market [4][6][73]. - The price increase is attributed to structural upgrades in product offerings and the ability of manufacturers to implement price increases effectively [70][71]. Competitive Landscape - The competitive landscape has shifted from volume-based competition to brand strength and product differentiation, particularly in the high-end segment [80]. - The report notes that the high-end beer market is increasingly dominated by younger consumers who prioritize quality over price, indicating a shift in consumer preferences [38][43]. Long-Term Drivers - The core consumer demographic (ages 20-50) is identified as a long-term driver of beer consumption, with changes in consumer preferences and income levels influencing demand [19][22]. - The report highlights that the growth of the middle class and urbanization are critical factors supporting the transition to premium beer consumption [35][36].

Core Insights - The alcoholic beverage market is projected to grow from US$ 1.85 trillion in 2024 to US$ 2.88 trillion by 2033, with a compound annual growth rate (CAGR) of 5.02% from 2025 to 2033, driven by changing consumer preferences, rising disposable incomes, and the expansion of e-commerce [2][18]. Market Dynamics - **Rise in Disposable Incomes**: Increased disposable income, particularly in emerging economies, is linked to the growth of the alcoholic beverage market. Global household spending and disposable incomes are expected to rise by 2.6% in 2022, with significant spending on food and non-alcoholic drinks in the EU [4]. - **E-commerce Growth**: E-commerce platforms are catering to affluent consumers by offering a wide range of premium and specialty products, enhancing market accessibility [5]. - **Premiumization Trend**: Consumers are increasingly willing to pay more for premium alcoholic beverages, with notable growth in the consumption of premium whiskey and vodka, which saw year-over-year growth rates of 13.9% and 14.1%, respectively [6]. - **Shifting Consumer Preferences**: There is a growing demand for craft and premium products, with consumers seeking unique taste experiences. This trend has led to the rise of boutique wineries and artisanal distilleries [7]. - **Health-Conscious Trends**: The market is witnessing a shift towards low-alcohol, alcohol-free, and functional beverages, particularly among younger consumers who prioritize health and wellness [9]. Regional Insights - **United States**: The US market is characterized by strong demand for beer, wine, and spirits, with a notable trend towards health-conscious products and e-commerce growth [14]. - **United Kingdom**: The UK market shows diverse consumer preferences, with increasing demand for craft beers and premium wines, influenced by health trends and e-commerce [15]. - **India**: Rapid market growth is driven by urbanization and rising disposable incomes, with beer being the most popular choice among younger consumers [16]. - **United Arab Emirates**: Despite legal restrictions, the market is expanding due to tourism and a growing expatriate population, with increasing demand for premium products [17]. Company Analysis - **Market Overview**: The report covers a comprehensive analysis of the alcoholic beverage market, including key players such as Anheuser-Busch InBev, Carlsberg Group, and Pernod Ricard, among others [19]. - **Forecast Period**: The analysis spans from 2024 to 2033, providing insights into market dynamics and growth drivers [18].

Anheuser-Busch InBev SA/NV (BUD) , alias AB InBev, has been doing well for a while, thanks to its robust strategic measures. The company’s pricing actions, continued premiumization and other revenue-management initiatives have been yielding.Over the past three months, BUD shares have gained 26.2%, comfortably outperforming the broader Consumer Staples sector and the Zacks Beverages - Alcohol industry’s growth of 3.3% and 0.5%, respectively. The stock also surpassed the S&P 500 index’s drop of 4.4% in the sa ...

Financial Performance - The company reported total revenue of USD 59.8 billion in 2024, with 27.9% (USD 16.7 billion) coming from its Brazilian subsidiary Ambev and 10.5% (USD 6.2 billion) from Budweiser APAC[80]. - The company recognized a non-cash impairment charge of USD 1,143 million related to its investment in the AB InBev Efes joint venture as of June 30, 2022[70]. - The ongoing conflict between Russia and Ukraine has adversely affected the company's financial performance and operations, leading to increased risks and potential disruptions[69]. - The company has experienced higher commodity and logistics costs in recent years, which may continue to impact its operations and profitability[86]. - Approximately 65% of the company's 2024 revenue is expected to come from developing markets, including countries like Brazil, China, and Mexico[119]. - The company faces potential negative impacts on operating income due to increased water costs and regulatory changes related to water usage[91]. - The beverage industry is experiencing increased competition and changing consumer preferences, which could lead to reduced margins and profitability[123]. - The company is subject to various tax regulations, including excise taxes, which can significantly impact revenue and profitability[137]. Risk Factors - The company is facing challenges in divesting its non-controlling interest in AB InBev Efes due to sanctions and restrictions imposed by various governments[72]. - The company is exposed to risks related to the availability and price of raw materials, which can be affected by geopolitical instability and inflationary pressures[85]. - The company’s ability to manage currency risks and commodity price fluctuations is critical, as derivative instruments may not provide complete protection over the medium to long term[87]. - The company’s operations are significantly impacted by energy price volatility, which can challenge profitability in certain markets[90]. - The company is exposed to risks associated with minority investments in developing markets, which may limit control over operations and compliance[106]. - The company faces significant financial risks in developing markets, including political instability, inflation, and currency devaluation, which could adversely affect its operating results[120]. - Continued volatility in operating currencies may decrease the company's net assets and impact its financial condition and operating results[121]. - The company is exposed to risks from negative publicity and regulatory changes regarding health concerns related to alcohol consumption, potentially impacting demand and profitability[129]. - Regulatory restrictions aimed at reducing the availability of alcohol products could materially affect the company's business and financial condition[130]. - Compliance with antitrust and competition laws poses risks, with potential regulatory scrutiny affecting operations in multiple jurisdictions[142]. Operational Challenges - The company relies on third-party suppliers for key raw materials, and disruptions in supply could adversely affect production and financial results[101]. - The consolidation of retailers may pressure the company to lower prices, potentially reducing profitability in key markets[100]. - The company has limited suppliers for certain packaging materials, increasing the risk of supply chain disruptions[105]. - The company must fulfill commitments related to previous acquisitions to maintain regulatory compliance, which may affect operations[118]. - The company may face challenges in identifying suitable acquisition targets due to regulatory and market limitations[114]. - The company’s marketing efforts may be constrained by regulations on advertising, which could reduce the value of its brands and related revenues[153]. - The company’s operations are subject to environmental regulations that could result in substantial liabilities, impacting its financial condition[163]. Sustainability and Compliance - The company has set a goal to achieve net zero emissions across its value chain by 2040, which requires ongoing investment and may expose it to reputational risks if not achieved[160]. - The company has committed to sustainability goals, including smart agriculture and water stewardship, which may require additional investments and compliance efforts[160]. - The company faces potential liability and costs associated with compliance with anti-corruption laws and regulations, which could impact its reputation and profitability[144]. - The company has been cited in ongoing investigations related to business partners managed by former government officials, which may affect its operations[146]. Employee Relations - The United States organization has approximately 5,300 hourly brewery workers represented predominantly by the International Brotherhood of Teamsters, with collective bargaining agreements effective from March 1, 2024, to February 28, 2029[168]. - Approximately 1,300 hourly employees at certain company-owned distributorships and packaging plants are also represented by unions, which could impact production due to potential work stoppages or slowdowns[168]. - The company emphasizes the importance of recruiting and retaining skilled employees to support product development and marketing efforts[178]. Cybersecurity and Data Protection - Cybersecurity incidents and disruptions to information systems could lead to revenue loss, additional costs, and regulatory scrutiny, highlighting the importance of robust cybersecurity measures[169][170]. - The company has experienced several cybersecurity incidents in 2024, but none had a material impact on business operations or data security[174]. - The company is subject to various privacy and data protection laws, including the General Data Protection Regulation in the EU and the California Consumer Privacy Act, which may require costly changes to business practices[175][176]. - The company faces risks from natural disasters and public health crises, which could disrupt operations and negatively impact financial results[177]. Shareholder Considerations - The market price of the company's Ordinary Shares and ADSs may be volatile due to various factors, including financial performance expectations and market conditions[181][182]. - The company may not guarantee future dividend payments, as these will depend on business outlook, cash flow, and financial performance, particularly in light of increased debt from the SAB combination[187]. - Future equity issuances may dilute the holdings of current shareholders or ADS holders, potentially affecting the market price of Ordinary Shares or ADSs[190]. - Registration and sales of Ordinary Shares could increase the number of shares sold in the public market, adversely affecting the market price and increasing volatility[193]. - Investors may experience dilution if they cannot participate in equity offerings, and certain shareholders may not be entitled to exercise rights unless registered under relevant laws[194]. - ADS holders may not be able to exercise their voting rights unless they withdraw the underlying Ordinary Shares[196]. - The company is a Belgian public limited liability company, and shareholders may not enjoy certain rights and protections typically afforded to U.S. company shareholders[200]. - As a "foreign private issuer," the company is exempt from certain U.S. securities laws, resulting in less publicly available information compared to U.S. public companies[204]. - It may be difficult for investors outside Belgium to serve process on or enforce foreign judgments against the company due to the location of assets and non-resident board members[205].