Global brewer AB InBev thumbed its nose at critics and economic misery-makers with the release of a sterling set of results that suggest that consumers around the world are in fine form, with most of them still drinking its beers.
It’s worth noting that the comparable period in 2018 was particularly strong, given AB InBev’s sponsorship of the 2018 FIFA World Cup, held in Russia. Net debt remains similar to year-end at $104,2-billion and is expected to reduce somewhat at year-end as the majority of the group’s cash flow is generated during the second half of the year. “
Net debt to Ebitda has reduced to 4.6x from 4.8x in the 2017 financial year and ABI targets this ratio to reach 4x by 2020, with a long-term target of 2x in place. this is intended to signal to shareholders that the board is determined to reverse a period of steep share price declines.save about $4-billion in cash a year.
“ABI got its pricing wrong. It placed a higher valuation on the business than the market was willing to bear,” says Armitage.Carlton & United Breweries, home to
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