Anheuser-Busch InBev SA (NYSE:BUD), the world's largest brewer, reported solid results for the fourth quarter of 2024 and fiscal year 2024, driven by robust performance across key markets and continued premiumization efforts.

In the fourth quarter, the company's revenue grew 3.4% organically, while normalized EBITDA increased 10.1% compared to the prior-year period. The strong performance was underpinned by growth in North America, South America, EMEA, and Mexico. AB InBev estimates that it gained or maintained market share in two-thirds of its markets during the quarter, led by its iconic megabrands such as Corona and Budweiser.

For the full fiscal year 2024, AB InBev's revenue per hectoliter grew 4.3%, driven by premiumization and revenue management initiatives. However, total volumes declined by 1.4%, impacted by challenges in China and Argentina. Despite the volume headwinds, the company's underlying earnings per share (EPS) grew by an impressive 15.4% in fiscal 2024.

The company continued to optimize its business, focusing on resource allocation efficiency and deleveraging efforts. As a result, AB InBev reduced its net debt to 2.89 times EBITDA, marking the first time since 2015 that the ratio has dipped below 3.0. Additionally, the Board proposed a 22% increase in the full-year dividend to 1.00 EUR per share, reflecting the company's commitment to returning value to shareholders.

Looking ahead, AB InBev remains confident in its ability to lead and grow the global beer category. The company expects its EBITDA to grow in the range of 4% to 8% in fiscal 2025, driven by continued investments in its iconic brands, innovations, and digital transformation initiatives.