Q2 2022: High-single digits top- and double digit bottom-line growth, driven by ongoing premiumization, on-premise recovery and supported by revenue management initiatives
Jason Warner, CEO Europe Zone, comments on our Q2 2022 results and continued business momentum
In this quarter, our revenue grew by high-single digits, with low-single digit volume and high-single digit revenue per hl growth. This was driven by revenue management initiatives, our ongoing premiumization, and continued on-premise recovery. Our strong operational performance delivered EBITDA growth of over 10%. Compared to 2Q19, top-line grew by mid-single digits despite on-premise volumes still not fully recovering to pre-pandemic levels.
Beer is a strong, resilient, and dynamic sector. We continue to execute on and invest in three key strategic pillars to deliver consistent growth and long-term value creation. Our incessant desire to lead and grow the category has driven our premium and super-premium brands to more than 50% of our revenue. We digitize and monetize our ecosystem through the launch of BEES in Europe, helping expand our relationships with our customers and consumers. Finally, we optimize our business and reinvest into organic growth for the future.
The on-premise channel continued its recovery, as consumers enthusiastically returned to the trade after the majority of COVID-19 restrictions were lifted in the first quarter of the year. Volume remained single digits behind pre-pandemic levels in the channel in 2Q22 and we expect further recovery in the year ahead. In 2Q22 the off-premise declined by low teens YoY (driven by = on-premise re-opening), but remain ahead of pre-pandemic levels.
Furthermore, we continue to support our Ukrainian JV colleagues and their families. We brought Ukraine’s most loved beer brand Chernigivske to different markets in Europe, with all profits from this initiative being donated to humanitarian efforts in Ukraine.
In conclusion, we are meeting the moment to continue to lead and grow the beer category and 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