AB InBev sees 'strong' revenue, EBITDA growth in FY19
AB InBev said: "In FY19, we expect to deliver strong revenue and EBITDA growth, driven by the solid performance of our brand portfolio and strong commercial plans. Our growth model is even more focused on category expansion, targeting a more balanced top-line growth between volume and revenue per hl. We expect to deliver revenue per hl growth ahead of inflation based on premiumization and revenue management initiatives, while keeping costs below inflation. We expect CoS per hl to increase by mid single digits, with currency and commodity headwinds to be offset by cost management initiatives. We maintain our 3.2 billion USD synergy and cost savings expectation on a constant currency basis as of August 2016. From this total, 547 million USD was reported by former SAB as of 31 March 2016, and 2 491 million USD was captured between 1 April 2016 and 31 March 2019. The balance of roughly 150 million USD is expected to be captured by the end of 2019." Commenting on the potential minority stake listing of the APAC business on the Hong Kong Stock Exchange, the company said: "We appreciate that a minority stake listing would accelerate our deleveraging path. Nonetheless, our commitment to reach a net debt to EBITDA ratio below 4x by the end of 2020 is not dependent on the completion of such a transaction."