百威亚太(01876) - 2020 - 年度财报

Financial Performance - In 2020, the company reported a revenue of $5.588 billion, reflecting a decline of 23.7% in normalized EBITDA growth[12]. - Total sales volume decreased by 12.1% to 81,115 thousand liters in the fiscal year 2020 compared to 93,168 thousand liters in 2019[46]. - Revenue declined by 12.4% to $5,588 million in fiscal year 2020 from $6,546 million in 2019[46]. - Gross profit fell by 14.4% to $2,907 million in 2020, down from $3,488 million in 2019[46]. - Normalized EBITDA decreased by 23.7% to $1,584 million in 2020, compared to $2,121 million in 2019[46]. - Normalized net income attributable to equity holders was $557 million in 2020, down from $994 million in 2019[46]. - The normalized EBITDA margin decreased by 427 basis points to 28.3% in 2020 from 32.4% in 2019[47]. - The company reported a significant increase in revenue, achieving a total of $X billion, representing a Y% growth compared to the previous year[93]. - The company provided an optimistic outlook for the next fiscal year, projecting revenue growth of A% and an increase in user engagement metrics[93]. Market Trends and Strategies - The company maintained a strong market position in India, with sales improving quarter-on-quarter after Q2 2020, and launched new non-alcoholic products contributing to growth[5]. - The company is focused on strategic investments for future growth in the Asia-Pacific region, despite the challenges posed by COVID-19[6]. - The company is focusing on premiumization trends, leading the high-end and super high-end markets in China, Korea, and India[27]. - The company is leveraging its strong marketing capabilities and product innovation to capitalize on consumer upgrading trends in the Asian market[27]. - The company continues to invest in business strategies focused on premiumization, commercial expansion, and digital transformation[50]. - The company launched innovative products like Mike's Hard Lemonade to further enhance its premiumization strategy[51]. - The company is expanding its market presence in Asia, targeting a growth rate of C% in that region over the next two years[93]. Sustainability and Social Responsibility - The company’s sustainability efforts included a 17% reduction in water usage compared to the baseline year of 2017, with 53.3% of beer sales using recyclable packaging[12][14]. - By 2025, the company aims for 100% of its direct farmers to have relevant skills and improve economic benefits through smart agriculture initiatives[36]. - The company plans to ensure that 100% of its product packaging is recyclable or made from recycled materials by 2025[36]. - The company is committed to reducing carbon emissions by 25% across its entire value chain by 2025[36]. - The company supports the World Health Organization's goal to reduce harmful alcohol use by at least 10% by 2025[37]. - The company provided over 250,000 cans of water to Vietnam and donated 10 billion KRW worth of protective masks to Daegu, South Korea[78]. - The company has a responsible sourcing policy that prohibits child and forced labor, ensuring compliance among its suppliers[81]. Digital Transformation and Innovation - The company emphasized the importance of e-commerce, enhancing online touchpoints for consumer interaction during the COVID-19 pandemic[40]. - The company launched various online marketing initiatives, including live streaming events in collaboration with local influencers and platforms[40]. - The company is focused on digital transformation and innovation to improve operational efficiency and customer relationships[40]. - The company is investing in R&D, allocating $E million to develop new technologies aimed at improving operational efficiency[93]. Corporate Governance - The company emphasizes high standards of corporate governance to protect shareholder interests, focusing on board effectiveness and accountability[97]. - The company has a "one-tier" management structure, with the board being the ultimate decision-making body responsible for overall management[103]. - The board consists of seven members, including executive and non-executive directors, ensuring a balanced governance structure[98]. - The company has committed to transparency in governance, with principles outlined in its corporate governance charter[97]. - The company has established compliance procedures to ensure adherence to applicable laws and regulations that significantly impact its operations[140]. Employee and Workforce Management - The company has over 26,000 employees, with 39% being women, and contributed over 1.37 million cans of emergency drinking water during the pandemic[10]. - The workforce includes over 20 nationalities, with more than 39% being women, reflecting the company's commitment to diversity and inclusion[80]. - The company emphasizes attracting and retaining top talent through competitive compensation and a culture of ownership, enhancing employee skills and potential[80]. - The company has adopted four share incentive plans, including a long-term incentive plan and a restricted share unit plan, to attract and retain talent in the Asia-Pacific region[170]. Risk Management - The company has established a strong, comprehensive, and technology-driven risk management system to effectively manage and mitigate inherent business risks[126]. - The risk management team conducts annual risk assessments using both bottom-up and top-down approaches to identify and prioritize key risk areas[126]. - The company faces risks related to economic conditions, particularly in emerging markets, which could lead to decreased sales or prices of its products[129]. - The company is actively monitoring sales and distribution to mitigate risks associated with economic downturns in the Asia-Pacific region[129]. Financial Position and Shareholder Information - As of December 31, 2020, the company reported net current liabilities of $2,305 million, primarily due to trade payables[56]. - The company reported a proposed final dividend of $0.0283 per share, totaling approximately $375 million, subject to shareholder approval[141]. - As of December 31, 2020, the distributable reserves amounted to approximately $43,789 million, with $375 million recommended for the final dividend for the fiscal year 2020[142]. - The company has a significant concentration of ownership, with major shareholders being controlled entities of AB InBev, holding the same number of shares[156][157].