Budweiser APAC reports volume and revenue decline in Q1 2025

Budweiser Brewing Company APAC Limited announced unaudited results for the three months ended March 31, 2025, reporting a 6.1% decrease in total volumes to 19,741 thousand hl beer, and a 7.5% decrease in revenue to USD 1,461 million. The decline was attributed to soft industry conditions in key regions and channels within China, though partly offset by strong performance in South Korea. Normalized EBITDA decreased by 11.2% to USD 485 million, and Normalized profit attributable to equity holders decreased from USD 297 million to USD 235 million. Normalized EPS was 1.78 cents USD, down from 2.26 cents USD in Q1 2024. The company noted ongoing progress in channel expansion and digitization initiatives, and will focus on innovation and building brand power.