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ABInBevReportsFullYearandFourthQuarter2025Results
===2026/2/12 18:06:46===



%





3.4



%





AB InBev Worldwide





575 706





(1 265



)





(13 341



)





561 100





(2.3



)%





(2.6



)%





Key Markets Performance

United States: Building momentum and gaining market share in beer and spirits driven by Michelob Ultra and Cutwater


Operating performance:


4Q25: Revenue declined by 1.4% with revenue per hl increasing by 2.6% driven by revenue management and premiumization. Sales-to-retailers (STRs) declined by 3.5%, estimated to have outperformed a soft industry. Sales-to-wholesalers (STWs) declined by 3.9%. EBITDA decreased by 6.2%, impacted by phasing of sales and marketin
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