evenue grew in aggregate by high-single digits and volumes by low-single digits, driven by Tanzania, Mozambique and Uganda.

South Korea:Our business cycled a challenging shipment phasing comparable due to our April 2025 price increase, resulting in volumes declining by low-teens. Revenue decreased by high-single digits with low-single digit revenue per hl growth. We estimate that we have continued to gain market share in both the on-premise and in-home channels.


Consolidated Income Statement






Figure 3. Consolidated income statement

















in USD Mio





1Q25









1Q26





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