AB InBev reports ” substantial improvement” despite the impact of covid-19
The brewing group AB InBev said they ended the second quarter with more confidence and resilience in the brewing category.
Despite the impact on AB InBev’s material performance caused by covid-19, the group noted a considerable improvement during the second quarter.
In April volumes fell by 32.4 %. “In April our volumes were down 32.4 % as we faced a closure of our brewing operations in key markets. Mexico, South Africa and Peru. In addition to the closing of the local channel in most of our markets”. Said AB InBev.
In May they fell by 21.4%, “a sequential improvement,” according to the group. “This improvement was driven by the return to positive volume growth in China. A healthy performance of our beer business in Brazil, the gradual relaxation of local channels in certain markets, especially in Europe. And the strength of the off-trade channel in both developed and developing markets.
While in June volume growth was 0.7%. Equivalent to a strong recovery in Mexico and South Africa The resumption of operations met robust consumer demand.
“We left the quarter with our confidence strengthened”
“As the quarter progressed, however, we saw a considerable improvement in performance from month to month. We left the quarter with our confidence strengthened in the resilience of our business and the global beer category.”
Logically, the declines and increases in volumes were influenced by the general confinement around the world.
AB InBev says they will apply their global footprint to apply their market knowledge to similar markets. One way to accelerate recovery. For example, some European countries became “Markets in Recovery” while restrictions were relaxed in May and June. The group replicated best practices applied in China and South Korea to support customers in local channels for a successful reopening.
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