{"id":15691,"date":"2022-12-19T13:06:53","date_gmt":"2022-12-19T13:06:53","guid":{"rendered":"https:\/\/valutico.com\/anheuser-busch-inbev-uncorking-the-success-of-the-brewery-giant-despite-problems-with-fifa-world-cup-2022-sponsorship-deal\/"},"modified":"2023-11-24T17:22:15","modified_gmt":"2023-11-24T17:22:15","slug":"anheuser-busch-inbev-uncorking-the-success-of-the-brewery-giant-despite-problems-with-fifa-world-cup-2022-sponsorship-deal","status":"publish","type":"post","link":"https:\/\/valutico.com\/de\/anheuser-busch-inbev-uncorking-the-success-of-the-brewery-giant-despite-problems-with-fifa-world-cup-2022-sponsorship-deal\/","title":{"rendered":"Anheuser-Busch InBev: Uncorking the success of the brewery giant despite problems with FIFA World Cup 2022 sponsorship deal"},"content":{"rendered":"

Aneuser-Busch InBev SA\/NV<\/span><\/h1>\n

Weekly Valuation – Valutico | 12 December 2022<\/span><\/p>\n

Link to the detailed valuation<\/a><\/strong><\/p>\n

 <\/p>\n

About Aneuser-Busch InBev<\/b><\/h2>\n

Anheuser-Busch InBev, a Belgium-based beer brewing and distribution giant operating in the global market, has an impressive portfolio of over 500 beer brands including Budweiser, Becks, Stella Artois and Corona. Recently, Budweiser hit the headlines when its \u20ac71 billion sponsoring deal as the official beer supplier to the stadiums of the 2022 FIFA World Cup was not honored because Qatar refused to sell beer in their football stadiums.<\/span><\/p>\n

 <\/p>\n

Recent Financial Performance<\/b><\/h2>\n

In October Anheuser-Busch InBev published its earning call for the third quarter, where they announced a revenue of $15.1 billion which is an increase of 5.7% compared to last year\u2019s Q3.\u00a0 The company also was able to increase its EBITDA by 6.5% with an overall EBITDA margin of 35.2%. Furthermore, volumes of goods sold grew by 3.7% which was mainly driven by an increase of 5.2% in non-beer products.<\/span><\/p>\n

 <\/p>\n

2022 World Cup Supplier Deal<\/b><\/h2>\n

Budweiser, one of the company’s brands, signed a \u20ac71 million contract with FIFA to be the official beer supplier of the 2022 World Cup and one of the official main sponsors. However, this contract could not be completely fulfilled because two days before the start of the World Cup, at the insistence of the Al Thani royal family, it was announced that no alcoholic beer could be served in or around the stadiums. Therefore, the company could only serve non-alcoholic beer in the football stadiums in Qatar. Budweiser took this with humor and announced that it would give away the leftover beer to the fans of the nation that wins the World Cup.<\/span><\/p>\n

 <\/p>\n

To pay for the damage, Anheuser-Busch InBev wants to cut \u20ac39 billion from its 2026 World Cup deal in North America, which is currently worth \u20ac107 billion.<\/span><\/p>\n

 <\/p>\n

Share Price Performance<\/b><\/h2>\n

The last five years have been tough for the Anheuser-Busch InBev share. The sharp drop to \u20ac37 per share after the Covid-19 outbreak is particularly noteworthy. This was due to several closures and falling demand for beer and other alcoholic beverages as social gatherings were banned and bars and nightclubs closed. After this shock to the price of the company’s shares, they recovered to \u20ac80 per share in November 2021, after which they went steadily downhill until they reached \u20ac46 per share in early October this year. However, since the last earnings call at the end of October, the brewery giant’s share price has risen by 21% to reach a price of \u20ac56 per share.\u00a0<\/span><\/p>\n

 <\/p>\n

Anheuser-Busch\u2019s five-year share price chart is shown below:<\/span><\/p>\n

 <\/p>\n

\"\"<\/p>\n

Source: Yahoo Finance, https:\/\/yhoo.it\/3iAK7C9.\u00a0\u00a0<\/span><\/p>\n

 <\/p>\n

Valutico Analysis<\/b><\/h2>\n

\"\"<\/p>\n

We analyzed Anheuser-Busch InBev by using the Discounted Cash Flow method, specifically our DCF WACC approach, as well as a Trading Comparables analysis. <\/span>The Discounted Cash Flow analysis produced a value of \u20ac189 billion using a Cost of Equity of 6.7%.<\/p>\n

\u00a0<\/span><\/p>\n

The Trading Comparables analysis resulted in a valuation range of \u20ac98 to \u20ac222 billion, by applying the observed trading multiples\u00a0 EV\/EBITDA, EV\/EBIT and P\/E. For our Trading Comparables we selected similar peers such as Heineken and Carlsberg.<\/span><\/p>\n

 <\/p>\n

Combining the value of our DCF WACC and Trading Comparables analysis resulted in a value range of \u20ac98 billion to \u20ac222 billion. In comparison to Anheuser-Busch InBev\u2019s market capitalization of \u20ac112 billion we suggest that the company is undervalued.\u00a0<\/span><\/p>\n

Link to the detailed valuation<\/a><\/strong><\/p>\n

\"\" \"\"<\/p>\n

Disclaimer<\/b><\/h2>\n

This article is for informational purposes only and does not constitute investment advice. None of the information contained herein constitutes a solicitation, offer or recommendation to sell or buy any financial instrument.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

Aneuser-Busch InBev SA\/NV Weekly Valuation – Valutico | 12 December […]<\/p>\n","protected":false},"author":7,"featured_media":21615,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"inline_featured_image":false,"footnotes":""},"categories":[35],"tags":[],"yoast_head":"\nAnheuser-Busch InBev: Uncorking the success of the brewery giant despite problems with FIFA World Cup 2022 sponsorship deal - Valutico<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/valutico.com\/anheuser-busch-inbev-uncorking-the-success-of-the-brewery-giant-despite-problems-with-fifa-world-cup-2022-sponsorship-deal\/\" \/>\n<meta property=\"og:locale\" content=\"de_DE\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Anheuser-Busch InBev: Uncorking the success of the brewery giant despite problems with FIFA World Cup 2022 sponsorship deal - 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