AB InBev, again, sold more beer in 2021 but was forced to cope with shrinking margins. The beer giant expects this trend to continue in 2022.
Partial recovery
AB InBev’s revenue increased 15.6 per cent last year and reached 54.3 billion dollars (48.7 billion euros). The group sold nearly 582 million hectoliters of beer, almost a tenth more than in 2020. Sales grew strongest in Central and South America with a growth of 24.8 per cent and 26.3 per cent respectively. The Europe-Africa-Middle East region saw its revenue grow by 18 per cent.
However, profit margins were under pressure due to rising raw materials, shipping, and workforce costs. Gross operating profit came in at 19.2 billion dollars (17.2 billion euros), up 11.8 per cent. Nonetheless, the EBITDA margin fell 118 basis points to 35.4 per cent.
Belgium
No specific figures are available for Belgium. However, the company did state that, last year, the hospitality channel in the country was still heavily affected by Covid-19 and the related government measures. In the fourth quarter, the on-trade sales were still 30 per cent lower than before the pandemic.
For the retail channel, the brewer increased its turnover in an industry that declined slightly during the fourth quarter. “We even returned to pre-crisis levels in the last quarter. Within the overall retail landscape, we had the highest sales growth among FMCG companies”, the company reports. 2021 was also the year of premium beers for AB InBev. Victoria’s market share continues to grow, both in the hospitality industry and supermarkets.
