BUD APAC(01876)2025-02-25 23:00Sales Performance - Total sales volume for the fiscal year 2024 decreased by 8.8% to 84.811 million hectoliters, primarily impacted by weak performance in the Chinese market, partially offset by strong growth in Korea and India [5]. - In the fourth quarter of 2024, total sales volume and revenue decreased by 12.7% and 11.0%, respectively, significantly affected by performance in China, but partially offset by strong performance in Korea [15]. - For the fiscal year 2024, Budweiser Brewing Company APAC Limited reported a volume decline of 11.8%, attributed to weakened consumer spending and a focus on immediate consumption channels [23]. - Total sales volume for Q4 2024 was 13,613 thousand liters, a decrease of 12.7% compared to Q4 2023's 15,667 thousand liters [94]. - In Q4 2024, Budweiser Brewing Company APAC Limited reported a volume decline of 12.7% on an organic basis and 13.1% on a reported basis [99]. - For the fiscal year 2024, the company experienced an organic volume decline of 8.8% and a reported decline of 8.6% [99]. Revenue and Profitability - Revenue for the fiscal year 2024 declined by 7.0% to 2.9 billion at the end of fiscal year 2024, a decrease of 56 million, significantly lower than 750 million for 2024, a decrease of 14.77% compared to 1,134 million, down 37.24% from 1,142 million, down 11.0% from 521 million, reflecting a decline of 14.0% from 917 million in fiscal year 2023 to 750 million for fiscal year 2024, representing an increase of 7% compared to the previous year [18]. - The company plans to maintain or increase dividend amounts annually to maximize total shareholder returns [36]. - The company paid dividends of 500 million in 2023 [49]. Market Strategy and Growth Initiatives - The company plans to focus on product portfolio and channel selection to drive growth in 2025, alongside digitalizing marketing channels to create value [5]. - The company aims to leverage its strong market presence in Korea and India to counterbalance challenges faced in the Chinese market [13]. - The company aims to leverage its strong brand portfolio and marketing channels to regain market share growth in China, targeting the increasing middle-income households [33]. - The company views India as the next growth driver, focusing on premium and super-premium product categories [33]. - The company is committed to exploring suitable acquisition opportunities to accelerate growth in Southeast Asia and other markets [35]. Sustainability and Corporate Governance - The company aims for sustainability goals, including a 65% reduction in carbon emissions intensity per hectoliter compared to 2017 levels [19]. - The company emphasized its commitment to high standards of corporate governance, adhering to the corporate governance code, with one exception regarding the separation of roles between the chairman and CEO [79]. Financial Position and Assets - Total assets decreased to 16,234 million in 2023, a decline of approximately 8.9% [44]. - Total non-current liabilities decreased to 735 million in 2023, reflecting a reduction of 17.67% [45]. - Current liabilities also decreased to 4,649 million in 2023 [45]. - The total equity and liabilities of the company stood at 16,234 million in 2023, reflecting a decrease of 8.93% [45]. Operational Metrics - Normalized EBITDA for the fiscal year 2024 decreased by 6.3% to 115 million in 2024, compared to $107 million in 2023, reflecting an increase of approximately 7.5% [62].