Budweiser brewer AB InBev sees its stock rise in Europe, lifted by positive financials
The beer brand owner saw revenue, earnings and free cash flow rise, though currency values put a little shade on the numbers.
Anheuser-Busch InBev stock was rising in Europe, as the Budweiser and Stella Artois beer brewer reported positive financials for the end of 2025.
Ab Inbev reported underlying earnings per share growth, up 6% underlying, and continued cash generation across 2025, up to $11.3 billion (free cash flow).
Like-for-like revenue was up 2% for FY25, albeit volumes were down - as it generated some 4.4% more revenue per brewed hectoliter, but it brewed 2.3% less than the year before.
"In 2025, we executed our strategy, made disciplined capital allocation choices and delivered growth within our outlook for the year, even as we navigated a dynamic consumer environment," said CEO Michel Doukeris.
"We exit 2025 with improved momentum and enter 2026 well positioned to engage consumers with our megabrands and an unparalleled lineup of mega platforms."
Impact of softer currency
Cross-currency, however, the revenue metric was hit by a softer dollar (down 0.8% to $59.32 billion). It added that 'normalized' EBITDA rose 4.9% to $21.223 billion in FY25, with margin expansion of 101 basis points to 35.8%.
Underlying Profit amounted to $7.410 billion for the year and was $1.884 billion in 4Q25.
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Looking ahead, for 2026, AB Inbev expects earning's (EBITDA) growth in line with its medium-term outlook of between 4 to 8%. The brewer forecasts net capital expenditure of between $3.5 and $4 billion.
In Europe, the brewer's stock was up 2% to €66.16, whilst the New York listing pointed 1.64% with a pre-market quote of $78.53 on Thursday morning.
The Recap
- AB InBev reports underlying EPS up six percent in 2025.
- Free cash flow totaled 11.3 billion USD in 2025.
- Net debt to normalized EBITDA ratio was 2.87x.
