Core Viewpoint - Budweiser APAC reported a decline in total sales volume and revenue for the first half of 2025, primarily due to challenges in its operations in China, although performance in India partially offset these declines [1] Sales Performance - Total sales volume decreased by 6.1% to 4,362.8 million liters in the first half of 2025 [1] - Revenue fell by 5.6% to $3.136 billion in the same period [1] - Revenue per hectoliter increased by 0.5%, driven by positive impacts from the brand portfolio in the Asia-Pacific region and revenue management measures in Eastern Asia [1] Profitability - Normalized profit attributable to equity holders decreased from $552 million in the first half of 2024 to $474 million in the first half of 2025 [1] - Profit attributable to equity holders decreased from $541 million in the first half of 2024 to $409 million in the first half of 2025, impacted by non-core income tax effects from internal restructuring [1] Management Commentary - The CEO emphasized a focused approach and disciplined execution in investing in flagship brands to address current challenges and drive long-term growth [1] - The business in China was affected by regional layout and weak ready-to-drink channels, while performance in South Korea exceeded industry levels despite overall industry weakness [1] - Growth momentum in India continued to accelerate, with Budweiser brand growth outpacing the industry [1]