May 7, 2020 / 5:15 AM / 22 days ago

BRIEF-AB InBev Q1 Revenue Declines 5.8% As Volumes Fall Impacted By COVID-19

May 7 (Reuters) - Anheuser Busch Inbev NV:

* ANHEUSER-BUSCH INBEV REPORTS FIRST QUARTER 2020 RESULTS

* WE EXPECT THAT THE IMPACT ON OUR 2Q20 RESULTS WILL BE MATERIALLY WORSE THAN IN 1Q20

* Q1 REVENUE DECLINED BY 5.8%, MATERIALLY IMPACTED BY LOWER VOLUMES RESULTING FROM THE COVID19 PANDEMIC

* WITHDRAWAL OF 2020 OUTLOOK IN ITS ENTIRETY

* Q1 TOTAL VOLUMES DECLINED BY 9.3%, WITH OWN BEER VOLUMES DOWN 10.5% AND NON-BEER VOLUMES DOWN 0.2%

* ON NEW CORONAVIRUS: SINCE FEB 27 SCALE AND MAGNITUDE OF COVID-19 HAS INCREASED SIGNIFICANTLY

* Q1 EBITDA OF 3 949 MILLION USD REPRESENTS A DECREASE OF 13.7%

* NORMALIZED PROFIT ATTRIBUTABLE TO EQUITY HOLDERS OF AB INBEV WAS -845 MILLION USD IN 1Q20 VERSUS 2 395 MILLION USD IN 1Q19

* ON CHINA: REVENUE DECLINED BY 45.4% IN 1Q20 AS WE FACED A VOLUME DECLINE OF 46.5%

* ON CHINA: IN MARCH 2020, WE OBSERVED A STEADY RECOVERY IN THE IN-HOME AND RESTAURANT CHANNELS

* ON CHINA: BY THE END OF MARCH, ALMOST ALL OUR WHOLESALERS HAD RESUMED OPERATIONS

* ON CHINA: WE HAVE RE-OPENED ALL OUR BREWERIES IN CHINA

* Q1 REVENUE $11.00 BILLION VERSUS $10.76 BILLION SEEN IN REFINITIV POLL

* Q1 NORMALIZED EBITDA $3.95 BILLION VERSUS RESTATED $4.80 BILLION YEAR AGO

* ON EUROPE: WE OBSERVED A FULL SHUT DOWN OF THE ONPREMISE CHANNEL THROUGHOUT MARCH 2020

* Q1 TOTAL VOLUMES 119.7 MILLION HLS VERSUS 131.7 MILLION HLS (RESTATED) YEAR AGO Source text: bit.ly/3b6vq05 Further company coverage: (Gdansk Newsroom)

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