BUD APAC (01876) announces performance for 2024 with a profit attributable to equity holders of $726 million, a decrease of 14.79% year-on-year. Final dividend per share is 5.66 cents.

BUD APAC (01876) announced its performance for the year 2024, with a revenue of 6.246 billion USD, a decrease of 8.9% compared to the previous year; a gross profit of 3.147 billion USD, a decrease of 8.86%; a net profit attributable to BUD APAC shareholders of 726 million USD, a decrease of 14.79%; and a basic earnings per share of 5.51 cents, with a final dividend per share of 5.66 cents. The announcement stated that total sales volume decreased by 8.8% in 2024 due to internal growth, impacted by the slowing performance in the Chinese industry, but partially offset by strong performance in Korea and India. Despite the decrease in revenue, income per hectoliter increased by 2.0%, mainly driven by revenue management measures in the Eastern Asia Pacific region and favorable product mixes in various Asian countries, partially offset by the high base in China and unfavorable channel mix. In the fourth quarter of 2024, the group's business in China was significantly affected by proactive destocking management, slowing industry performance, and continued weakness in the on-premise channel. In Korea, the group's market share growth continued to accelerate, leading to double-digit growth in profit before tax, depreciation, and amortization. In India, the group's premium and super premium product mix once again drove double-digit revenue growth. CEO and Co-Chairman Yang Ke stated, "2024 was a mixed year. Strong growth and business momentum in the markets of Korea and India partially offset the weak performance in the Chinese industry and unfavorable channel mix. In 2025, we will make clear decisions on product mix and channel selection to continue the growth of different categories, while digitizing our strong marketing channels to create value. I am also pleased to announce that the board has proposed a dividend of 750 million USD, an increase of 7% compared to the previous year."