Budweiser Brewing Co. APAC (1876.HK) said on Thursday that its revenue last year fell 7.7% from 2024 to $5.76 billion, while its annual profit slid 32.6% to $489 million.
The company’s total sales by beer volume for the year declined 6.1% to 7.97 billion hectoliters, as its gross margin edged down 0.3 percentage points to 50.1%. Revenue per hectoliter slipped 0.2%, mainly due to weaker performance in China, partly offset by revenue management initiatives in East Asia and a favorable mix in India.
The company posted a loss of $105 million in the fourth quarter, compared with a $16 million loss a year earlier. Its quarterly revenue dropped 6% year-on-year to $1.07 billion.
Its China operations were weighed down by a business restructuring and continued weakness in its on-premises channels. Its fourth-quarter volume fell 3.9%, while revenue and revenue per hectoliter for the period declined 11.4% and 7.7%, respectively. For the full year, its China volume and revenue dropped 8.6% and 11.3%, respectively, with revenue per hectoliter down 3% as it invested to expand its off-premises channels.
In India, the company recorded market share gains in both the fourth quarter and full year, supported by strong double-digit revenue growth in its premium and super-premium segments. Korea saw low single-digit volume declines in the fourth quarter, while revenue per hectoliter posted low single-digit growth, leaving overall revenue broadly flat.
Bud APAC’s stock opened lower on Thursday and was down 4.96% at HK$7.85 by the midday break. The stock is up about 6.23% over the past 52 weeks.
By Lee Shih Ta
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