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01 Aug 2024
AB InBev - Solid Q2, guidance still prudent

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AB InBev - Solid Q2, guidance still prudent
- Published:
01 Aug 2024 -
Author:
Fernand de Boer -
Pages:
7 -
Q2 results were solid, perhaps a little light on top line compared to CSS, but there was a beat on organic EBITDA growth. In addition, despite the share buyback, deleveraging continued to 3.4xWith 7.8% organic EBITDA growth in H1, market may be somewhat disappointed the company maintaining its outlook. However, based on the H1 EBITDA we believe company is on track for the high end of expectations or aboveWe reiterate our Buy rating with a 12m TP of EUR 64