Here is the title: Anheuser-Busch InBev (BUD) Q4 2024 Earnings Call Transcript: Key Insights from the December 31, 2024 Quarterly Results Repeat the earnings call information for later last central time period.

26 February, 2025 | 4 Min Read

tickers affected by this

ticker	polarity	why?
PRBZF	positively	The ticker PRBZF, likely representing Anheuser-Busch InBev/NV, will be affected positively due to strong 4.3% growth in net revenue per hectoliter as well as the overall improvement in free cash flow by $2.5 billion, indicating robust financial performance.
USD-USD	positively	The positive financial performance and strategic initiatives highlighted in Anheuser-Busch InBev’s 2024 earnings report, including strong revenue growth and increased EBITDA, are likely to boost investor confidence in the company. This enhanced confidence, coupled with the company’s focus on organic growth and digital transformation, could lead to increased demand for its stock, thereby positively affecting the USD-USD ticker. Additionally, the company’s commitment to returning capital to shareholders through dividends and its disciplined capital allocation strategy further support a positive outlook for the ticker.
C	positively	The positive financial performance and strategic initiatives outlined in Anheuser-Busch InBev/NV’s 2024 earnings report, such as strong revenue growth and EBITDA increases, along with a focus on organic growth and digital transformation, are likely to bolster investor confidence, and ultimately enhance the positive outlook for investors and will cause a rise in value hence positively affecting the stock price for ticker C.

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summary

Anheuser-Busch InBev Reports Strong 2024 Earnings, Focuses on Organic Growth and Digital Transformation

Anheuser-Busch InBev/NV (BUD) released its full-year 2024 earnings report on February 26, 2025, highlighting significant progress across its strategic pillars and a strong financial performance despite challenges in key markets.

Key Financial Highlights

Revenue Growth: Total revenue grew by 2.7% to reach an all-time high of $59.8 billion. Organic growth more than offset translational FX headwinds, with net revenue per hectoliter growing by 4.3%.
EBITDA Performance: EBITDA increased by 10.1% in the fourth quarter and by 8.2% for the full year, reaching nearly $21 billion. This growth was driven by top-line improvements and margin expansion across all operating regions.
Earnings Per Share (EPS): Underlying EPS increased by 15.4% to $3.53 per share, marking a 7% CAGR since 2021.
Free Cash Flow: Free cash flow surged by $2.5 billion to $11.3 billion, driven by revenue growth, margin expansion, and disciplined capital allocation.
Debt Reduction: Net debt-to-EBITDA ratio reached 2.89 times, the first time below three since 2015, providing increased flexibility in capital allocation.

Operational Highlights

North America

U.S. Market: The U.S. business showed strong momentum with STR volumes growing in the fourth quarter. Michelob Ultra and Busch Light were the top volume share gainers, driving overall market share growth.
Investment Focus: Increased investments in brands to fuel growth, with a focus on productivity and efficiency.

Middle Americas

Mexico: Record-high volumes and market share gains driven by strong portfolio performance.
Colombia: Record-high volumes with continued market share growth.

South America

Brazil: Total volume growth of 1.5% with double-digit bottom-line growth, driven by premium and super-premium brands.

Europe

Europe: EBITDA increased by mid-teens, with volume growth slightly outperforming the industry in key markets.

APAC

China: Soft consumer environment impacted performance, but the company remains confident in long-term growth opportunities.

Strategic Pillars

Global Momentum and Premiumization

Anheuser-Busch InBev’s global momentum continued, with growth in 75% of its markets. The company’s focus on premiumization and balanced choice portfolio, including low-carb, low-calorie, and non-alcohol alternatives, drove revenue growth.

Digitize and Monetize Ecosystem

BEES marketplace delivered $2.5 billion in GMV, a 57% increase. Digital platforms expanded to 21 markets, reaching $560 million in revenue.

Optimize Business

Efficiency improvements drove a 179 basis points improvement in EBITDA margin. Net capex was between $3.5 billion and $4 billion, with a focus on technology and capacity optimization.

Outlook for 2025

EBITDA Growth: Expected to grow between 4% and 8% on an organic basis.
Capital Allocation: Continued focus on organic growth, deleveraging, and returning capital to shareholders.
Dividend: Proposed full-year dividend of one euro per share, a 22% increase.

Market Dynamics and Challenges

Consumer Environment: Unusually soft conditions in China and Argentina impacted overall volume performance.
Economic Pressures: Economic pressures and migration issues in the U.S. affected consumer spending in certain segments.

Conclusion

Anheuser-Busch InBev’s 2024 performance reflects strong execution of its strategic pillars, driving financial growth and operational efficiency. The company’s focus on organic growth, premiumization, and digital transformation positions it well for future success.