AB InBev Financial Results
5. Segment reporting
Segment information is presented by geographical segments, consistent with the information available to and regularly evaluated by the chief operating decision maker. AB InBev operates its
business through six business segments. Regional and operating company management is responsible for managing performance, underlying risks, and the effectiveness of operations. Internally,
AB InBev's management uses performance indicators such as normalized profit from operations (normalized EBIT) and normalized EBITDA as measures of segment performance and to make
decisions regarding the allocation of resources. The organizational structure comprises five regions: North America, Middle Americas, South America, EMEA and Asia Pacific. In addition to these
five geographic regions, the company uses a sixth segment, Global Export and Holding Companies, for all financial reporting purposes.
All figures in the tables below are stated in million US dollar, except volume (million hls) and Normalized EBITDA margin (in %).
North America
Middle Americas
South America
EMEA
2022
2021
2022
2021
2022
2021
2022
2021
Asia Pacific
2022
Global Export and Holding
companies
AB InBev Worldwide
2021
2022
2021
2022
2021
Volume
Revenue
Normalized EBITDA
103
16 566
6 057
36.6%
107
16 257
6 131
37.7%
148
14 180
6 564
141
12 541
164
157
91
87
89
88
1
2
11 599
9 494
8 120
8 032
6 532
6 848
790
1 133
595
57 786
582
54 304
6 126
3 511
3 125
2 612
2 598
2 104
5 220
5 110
Normalized EBITDA margin %
Depreciation, amortization and impairment
Normalized profit from operations
Non-underlying items (including non-underlying impairment)
Profit from operations
(748)
5 309
(89)
(782)
5 349
(239)
46.3%
(1 326)
5 238
(19)
(1 138)
4 988
(100)
30.3%
(873)
2 638
(18)
(760)
2 365
(60)
32.2%
(1066)
1 546
(68)
32.4%
(1014)
1 584
(112)
32.2%
(671)
1 433
(712)
1 609
48.8%
32.9%
2 321
33.9%
(1 004)
(1 093)
19 843
34.3%
(392)
(364)
(5 075)
(1 396)
(1 457)
14 768
(2)
(40)
(55)
(63)
(251)
5 219
4 888
2 620
2 305
1 478
1 472
1 431
1 569
(1 451)
(1520)
14 517
Net finance income/(cost)
Share of results of associates
Non-underlying share of results of associates.
Income tax expense
Profit
Segment assets (non-current)
Gross capex
(4 148)
299
(1 143)
(1928)
19 209
35.4%
(4 771)
14 438
(614)
13 824
(5 609)
248
(2 350)
FTE
7 597
6 114
63 379
695
20 040
63 722
868
19 691
66 262
1 319
52 355
67 516
1 307
51 969
14 297
1 001
42 028
12 917
1 154
42 209
30 918
1 011
21 306
34 098
1 051
22 215
12 397
496
13 453
605
2 505
638
1 973
655
189 757
5 160
193 678
5 640
24 331
26 095
6 572
7 160
166 632
169 339
For the year ended 31 December 2022, net revenue from the beer business amounted to 51 544m US dollar (2021: 49 333m US dollar) while the net revenue from the non-beer business (soft
drinks and other business) accounted for 6 242m US dollar (2021: 4 971m US dollar). Additionally, for 2022, net revenue from the company's business in the United States amounted to 14 580m
US dollar (2021: 14 259m US dollar) and net revenue from the company's business in Brazil amounted to 8 256m US dollar (2021: 6 500m US dollar).
On the same basis, net revenue from external customers attributable to AB InBev's country of domicile (Belgium) represented 632m US dollar (2021: 623m US dollar) and non-current assets
located in the country of domicile represented 2 533m US dollar (2021: 2 457m US dollar).
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