百威亚太(01876) - 2023 Q3 - 季度业绩

Sales Performance - Total sales volume for the first nine months of 2023 reached 77.1 million hectoliters, representing a growth of 6.0% compared to the same period in 2022[7]. - In the third quarter of 2023, total sales volume grew by 0.6%, supported by strong performance in China and robust growth in India[8]. - For the first nine months of 2023, total sales volume increased by 6.0%, primarily due to recovery momentum in China and strong growth in India[20]. - In Q3 2023, total sales volume was 27,644 thousand hectoliters, a 0.6% increase compared to Q3 2022, with revenue reaching $1,897 million, reflecting a 7.1% growth[18]. - The sales volume growth in the Asia Pacific region was 0.6% for Q3 2023 and 6.0% for the first nine months[38]. - In the Asia Pacific West region, the reported sales volume growth was 1.1% for Q3 2023 and 6.8% for the first nine months[38]. - The sales volume in China showed a slight decline of 0.1% in Q3 2023, but a growth of 5.7% was reported for the first nine months[38]. Revenue and Profitability - Revenue increased to $5,563 million, marking an 11.5% growth year-over-year, driven by premiumization efforts in China and India[4]. - The company achieved double-digit growth in revenue from high-end and super high-end products in China, contributing to overall profitability[6]. - In Q3 2023, the net revenue growth for the company was 7.1%, while for the first nine months, it was 11.5%[38]. - The revenue per hectoliter in Q3 2023 increased by 6.5%, with a 1.4% increase reported for the first nine months[38]. - The revenue per hectoliter in the Asia Pacific East region decreased by 1.9% in Q3 2023, with a decline of 4.7% for the first nine months[38]. Earnings and Expenses - Normalized EBITDA for the first nine months was $1,757 million, reflecting an 8.5% increase, although the EBITDA margin decreased by 90 basis points to 31.6%[4]. - The normalized profit attributable to equity holders increased slightly to $879 million from $878 million in the previous year[4]. - Basic earnings per share for the first nine months of 2023 were 6.62 cents, down from 7.00 cents in 2022, representing a decrease of approximately 5.43%[28]. - Diluted earnings per share for the first nine months of 2023 were 6.59 cents, compared to 6.99 cents in 2022, reflecting a decline of about 5.73%[28]. - The company reported a normalized EBIT of $1,267 million for the first nine months of 2023, compared to $1,220 million in 2022, showing an increase of approximately 3.84%[30]. - Tax expenses (excluding non-core items) increased to $397 million in 2023 from $350 million in 2022, representing a rise of about 13.43%[30]. - Sales and administrative expenses rose by 10.5% in the first nine months of 2023, consistent with ongoing business investments[23]. Market and Product Development - The company launched its first organic beer in China, Budweiser Master, in Q3 2023, enhancing consumer experience with traceability from farm to table[12]. - Budweiser APAC has expanded its business into ready-to-drink beverages, energy drinks, and spirits beyond beer categories[36]. - The company’s B2B platform, BEES, expanded to over 230 cities in China, accounting for over 65% of revenue in September 2023[12]. Sustainability and Community Initiatives - The company has made progress towards its 2025 sustainability goals, including the implementation of carbon capture technology at its brewery in Jinzhou, China[10]. - The company continues to support community initiatives, having donated over 2.5 million cans of emergency drinking water since 2015[10]. Operational Challenges - In Q3 2023, normalized EBITDA was $417 million, a 2.3% decrease from Q3 2022, reflecting challenges in the operating environment[18]. - The normalized EBITDA for the Asia Pacific East region decreased by 21.1% in Q3 2023 and by 20.6% for the first nine months[38].