Q1 2022: Double-digit top- and bottom-line growth, driven by ongoing premiumization and on-premise recovery and supported by revenue management initiatives
Jason Warner, CEO Europe Zone, comments on our Q1 2022 results and how we continue to meet the moment in 2022
Our revenue in the first quarter of 2022 grew by high-teens, with mid-single-digit growth in volumes and low-teens growth in revenue per hl, supported by ongoing premiumization and on-premise recovery. Our strong operational performance led to EBITDA growth of over 30%. Compared to Q1 2019, top-line grew by mid-single digits despite on-trade volumes not fully recovering to pre-pandemic levels.
We continue to drive premiumization across Europe, with our premium and super-premium brands making up over 50% of our revenue and delivering mid-teens revenue growth.
We are excited to see our consumers enthusiastically return to the on-trade as the majority of COVID-19 restrictions are being lifted. While volumes are still in the mid-teens behind pre-pandemic levels in the on-trade in Q122, we saw March volume improve to low-single-digits. Our off-premise business continues its momentum with low-single-digit growth vs. pre-pandemic levels, and market share growth in our key markets.
Further, we continue to support our JV colleagues in Ukraine and their families and the humanitarian relief efforts. Our recent launch of Chernigivske, Ukraine’s most loved beer brand, is gathering momentum across our markets in Europe, with all profits from this initiative going to humanitarian efforts in Ukraine. ❤️UA🙏🏻
We are meeting the moment in 2022 and will continue to lead and grow the beer category by accelerating our premium and super-premium portfolio with ongoing robust revenue management to create a future with more cheers.
About AB InBev
Anheuser-Busch InBev is a publicly traded company (Euronext: ABI) based in Leuven, Belgium, with secondary listings on the Mexico (MEXBOL: ANB) and South Africa (JSE: ANH) stock exchanges and with American Depositary Receipts on the New York Stock Exchange (NYSE: BUD). As a company, we dream big to create a future with more cheers. We are always looking to serve up new ways to meet life’s moments, move our industry forward and make a meaningful impact in the world. We are committed to building great brands that stand the test of time and to brewing the best beers using the finest ingredients. From our European roots at the Den Hoorn brewery in Leuven, Belgium, we are now a geographically diversified brewery with a balanced exposure to developed and developing markets, we leverage the collective strengths of approximately 164,000 employees, including 13,500 in Europe. We have offices and breweries in 18 EU Member States and our Global Innovation Centre is also based in Leuven, Belgium. Follow us on Twitter at @abinbev_EU.
For more information about Anheuser-Busch InBev, please visit www.ab-inbev.eu