AB InBev: first-quarter EBITDA up 5.8%.

(CercleFinance.com) - On Thursday Anheuser-Busch InBev, the world's largest beer maker, announced first-quarter EBITDA that was up 5.
8%, on the back of revenue that rose by 3.7%.

The Brussels-based company said normalised EBITDA reached 4.8 billion dollars over the first three months of the year, compared to 4.5 billion euros the previous year.

In its press release, AB InBev points out an "anticipated weak performance in Brazil," where EBITDA was down by 23.3%.

Excluding Brazil, revenue would have risen by 4.2%, while EBITDA would have climbed 12.3%, the group said.

While total revenue increased to 12.9 billion euros in the quarter, versus 12.1 billion euros in the same period a year ago, beer volumes were down slightly (-0.5%).

Regarding its merger with SAB, AB InBev said that the business integration is "progressing well," with synergies of 252 million dollars already captured over the first quarter.

The company also said it remained optimistic about Brazil in the long run, and more specifically regarding 2017.

For 2017, the brewer expects to accelerate total revenue growth.

AB InBev shares were jumping 3 percent to 106.8 euros on Euronext Brussels after these comments.

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