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Research
Publication Date: 23 Apr 2019 - By Robert P. By Robert P.Equity Fundamental Equity EU USA Global Consumer
AB InBev is the world's number one beer brewer based on volume, with over 500 brands. Beer brewing makes up 92% of sales. Non-beer business (i.e. soft drinks) is the remaining 8%. The largest geographic concentration of revenues comes from Latin America at 40% and North America with 28%. EMEA and Asia Pacific roughly split the balance.
Please download the full report for details on the Bear Case outlined below. Bottom Line: Challenges might be brewing with slowing beer volume growth and competitor inroads placing further pressure on weak volumes and an elevated leverage profile. |