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14 Apr 2023
Q1 CSS 5.6% EBITDA but focus will be on Bud Light saga

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Q1 CSS 5.6% EBITDA but focus will be on Bud Light saga
- Published:
14 Apr 2023 -
Author:
Fernand de Boer -
Pages:
6 -
Q1 Consensus expects a 5.6% EBITDA growth, but we expect all focus to be on Bud Light sagaAlbeit early, quick and dirty we expect a worst case impact of some USD 250m on EBITDA or slightly more than 1%. Hence, this could turn out to be a nice entry point. To reflect the impact we have lowered our EBITDA estimate by some USD 125mWe maintain our Buy recommendation.