AB InBev: second-quarter 'materially impacted' by Covid
(CercleFinance.com) - Anheuser Busch InBev, the world's largest brewer, said its second-quarter performance was "materially impacted" by the Covid-19 pandemic, as it expected.
Second-quarter operating profit (EBITDA) fell by over 34% to 3.4 billion euros as revenue fell by 17.7%, the owner of the Budweiser brand said on Thursday.
The company said, however, that it saw "considerable" improvement as the quarter progressed.
While April volumes slumped 32.4%, May volumes fell by 21.4% and June volumes actually grew by 0.7%, showing the "resilience" of the beer market, it said.
Its shares rose by over 5% on Euronext Brussels on this encouraging news.
Copyright (c) 2020 CercleFinance.com. All rights reserved.
Second-quarter operating profit (EBITDA) fell by over 34% to 3.4 billion euros as revenue fell by 17.7%, the owner of the Budweiser brand said on Thursday.
The company said, however, that it saw "considerable" improvement as the quarter progressed.
While April volumes slumped 32.4%, May volumes fell by 21.4% and June volumes actually grew by 0.7%, showing the "resilience" of the beer market, it said.
Its shares rose by over 5% on Euronext Brussels on this encouraging news.
Copyright (c) 2020 CercleFinance.com. All rights reserved.