BRUSSELS, Belgium, Mar 2 – The world’s top brewer AB InBev on Thursday toasted record beer volume sales in 2022, prompting a jump in profits despite red-hot inflation hitting consumers’ spending habits.
The Belgian-Brazilian group, which includes the Budweiser, Stella Artois and Corona brands, said in a statement that net profits were up 13 percent in 2022 to reach $6.4 billion.
Annual volume sales grew by 2.3 percent in 2022 to 595 million hectolitres, up from 581 million in 2021, it added.
AB InBev did, however, record a 0.6-percent fall in sales in the final quarter of 2022, with North America and Asia recording steep drops.
Businesses around the world were hurt by supply chain snarls and Russia’s invasion of Ukraine last year but economists are more hopeful for 2023 as inflation falls.
The brewer said it faced “challenges, including economic uncertainties, elevated input costs and supply chain disruptions which continued to constrain our full growth potential”.
But the company was optimistic for 2023.
“Our strategic choices this year… position us well to continue delivering consistent profitable growth,” AB InBev said.
