BUD APAC(HK:01876) 智通财经网·2026-02-11 23:39Core Viewpoint - Budweiser APAC reported a revenue of $5.764 billion for the fiscal year ending December 31, 2025, representing a year-on-year decrease of 7.7% [1] Financial Performance - The profit attributable to equity holders was $489 million, down 32.6% year-on-year, with basic earnings per share at 3.70 cents [1] - Total sales volume decreased by 6.0% for the fiscal year 2025, influenced by the company's operations in China, although partially offset by performance in India [1] - Revenue decreased by 6.1% or 7.7% on a reported basis, with revenue per hectoliter down by 0.2%, primarily due to performance in China, but supported by revenue management measures in Eastern Asia and positive regional mix in India [1] Market Trends - In the fourth quarter of 2025, sales volume and market share trends in China remained stable, aligning with industry performance affected by delayed Lunar New Year shipments [1] - The company has begun increasing investments in channel and product portfolio expansion, enhancing brand influence while exerting additional profit pressure for the quarter [1] - In South Korea, the company outperformed market levels in both ready-to-drink and non-ready-to-drink channels, with net revenue per hectoliter continuing to grow [1] - In India, the company's premiumization strategy made progress, achieving strong double-digit revenue growth and expanding overall market share [1] Strategic Outlook - The CEO stated that the company's performance in China did not reach its potential in 2025, and clear measures have been taken to strengthen non-ready-to-drink channel marketing, enrich the product portfolio, and launch innovative flagship products to reignite growth [2] - The company aims to establish a clear strategy and enhance execution capabilities for sustainable long-term growth as it enters 2026 [2] - The board has proposed a dividend of 5.66 cents per share for the fiscal year 2025, consistent with the fiscal year 2024 [2]