BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - Belgian drink and brewing company Anheuser-Busch InBev NV/SA (BUD) reported lower profit in its fourth quarter, that particularly reflected higher income tax expenses. For the year ahead, the company expects EBITDA growth in the 4-8 percent range.
In the fourth quarter, profit attributable to equity holders of AB InBev declined to $1.22 billion or $0.61 per share from $1.89 billion or $0.94 per share in the prior-year period.
The company posted underlying profit attributable to equity holders of $1.77 billion or $0.88 per share in the fourth quarter, up from $1.66 billion or $0.82 per share in the same period last year. Analysts on average had expected the company to earn $0.63 per share. Analysts' estimates typically exclude special items.
Total revenue for the three-month period rose 3.4 percent to $14.84 billion from $14.47 billion a year ago.
The company's normalized EBITDA climbed 10.1 percent to $5.25 billion from $4.88 billion in the previous-year quarter. Income tax expenses widened to $848 million from $376 million a year ago.
The company's Board has proposed a full year 2024 dividend of 1.00 euro per share, which is subject to shareholder approval at the Annual General Meeting, to be held on April 30.
Looking ahead, in fiscal 2025, the company expects EBITDA to grow in line with the medium-term outlook of between 4 percent to 8 percent.
It also expects capital expenditure of $3.5 billion - $4.0 billion for fiscal 2025.
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