AB InBev Financial Results
Normalized EBITDA and EBIT are not accounting measures under IFRS accounting and should not be considered as an
alternative to Profit attributable to equity holders as a measure of operational performance or as an alternative to cash flow
as a measure of liquidity. Normalized EBITDA and EBIT do not have a standard calculation method and our definition of
normalized EBITDA and EBIT may not be comparable to that of other companies.
For the year ended 31 December
Million US dollar
Profit attributable to equity holders of AB InBev
Non-controlling interest
Profit of the period
Income tax expense
Share of result of associates
Non-underlying share of results of associates
Non-underlying net finance cost/(income)
Net finance cost
Non-underlying items above EBIT (including non-underlying impairment)
Normalized EBIT
Depreciation, amortization and impairment (excluding non-underlying impairment)
Normalized EBITDA
Notes
2022
2021
5 969
4 670
1 628
1 444
7 597
6 114
12
1 928
2 350
16
(299)
8/16
1 143
11
(498)
(248)
806
11
4 646
4 803
8
251
614
14 768
14 438
10
5 074
4 771
19 843
19 209
Non-underlying items are either income or expenses that do not occur regularly as part of the normal activities of the
company. They are presented separately because they are important for the understanding of the underlying sustainable
performance of the company due to their size or nature. Details on the nature of the non-underlying items are disclosed in
Note 8 Non-underlying items.
9View entire presentation