Anheuser-Busch InBev (AB InBev) posted moderate revenue growth in its third quarter, boosted by digital initiatives and robust performance on its B2B platform, BEES. Despite these gains, the company remains focused on opportunities for further improvement, according to CEO Michel Doukeris.
The global brewer, known for brands like Budweiser, Stella Artois, and Corona, saw revenue increase to $15.33 billion in Q3, up 2.7% year-on-year from $15.12 billion in Q2 2023. This growth was bolstered by its digital platforms, with direct-to-consumer channels generating approximately 19 million unique orders and contributing to an 11% rise in revenue.
“Each of these 19 million orders offers valuable insights, helping us to create new consumption occasions and generate additional revenue,” Doukeris said during an earnings call.
BEES Platform: A Significant Growth Driver
BEES, AB InBev’s digital marketplace for B2B transactions, continues to show substantial progress. The platform not only facilitates sales of AB InBev’s own products but also acts as a marketplace for third-party suppliers of beer and other goods. Key highlights from BEES’ Q3 performance include:
- Gross Merchandise Value (GMV): BEES generated $12.1 billion in GMV, marking a 14% year-over-year increase. Currently, digital channels contribute to 72% of AB InBev’s overall revenue.
- Marketplace Sales: Third-party product sales through the BEES marketplace accounted for $630 million in GMV, representing a 51% increase from Q3 2023.
- Global Reach: BEES operates in 28 markets, reaching 3.9 million monthly active users and processing 9.5 million orders in Q3. This activity resulted in a 31% rise in order volume and a 51% boost in GMV from third-party products compared to last year.
“Beer is a passion point for consumers, and the demand for our megabrands, combined with the impact of our digital platforms, has delivered top- and bottom-line growth with margin expansion,” Doukeris noted.
Looking Forward
AB InBev remains optimistic about its financial outlook for FY24, with expectations of 6-8% EBITDA growth. “Our teams and partners continue to execute our strategy,” Doukeris said, “and we are confident in our ability to meet our revised targets for the year.”
With the company’s B2B digital ecosystem driving growth, AB InBev’s strategy of blending traditional and digital sales channels appears to be paying off, setting a strong foundation for continued expansion.
Source: https://www.digitalcommerce360.com/2024/11/04/anheuser-busch-inbev-brews-up-modest-growth-in-q3/
