UPDATE 1-AB InBev Q4 core profit seen up 17 pct

* Anheuser-Busch InBev Q4 results

* Due on Thursday March 4 at 0600 GMT

* Q4 core profit (EBITDA) seen up 17 pct at $3.27 billion

BRUSSELS, March 1 (BestGrowthStock) – Anheuser-Busch InBev (ABI.BR: ), the world’s
largest brewer, is expected to report a 16.7 percent rise in core profit
(EBITDA), according to the average estimate of a Reuters survey of 15 analysts.

Estimates for the results, which are due on Thursday, were collected between
Feb. 22 and March 1.

Following is a summary of estimates (all figures in millions of U.S.
dollars, except dividend in euros):

Q4

Mean Median High Low No Yr ago Change% Prev.Q
Volumes (mln hls) 101.1 100.8 105.4 98.4 14 102.9 -1.7 106.6
Revenue 9,263 9,278 9,659 8,126 15 8,963 3.3 9,763
– North America 3,601 3,594 3,747 3,434 11 3,597 0.1 4,090
– L. America-North 2,654 2,725 2,816 2,250 11 1,973 34.5 1,838
– L. America-South 638 638 703 575 11 617 3.4 419
– Western Europe 1,080 1,092 1,160 949 11 1,037 4.1 1,209
– CEE 523 535 611 438 11 606 -13.7 757
– Asia Pacific 311 324 370 238 11 464 -33.0 515
– Export & Holding 543 545 797 339 11 669 -18.8 935
Normalized EBITDA 3,273 3,303 3,534 2,878 15 2,805 16.7 3,549
– North America 1,211 1,240 1,330 1,020 11 1,111 9.0 1,466
– L. America-North 1,302 1,284 1,401 1,136 11 973 33.8 831
– L. America-South 310 307 349 273 11 299 3.7 171
– Western Europe 238 252 304 158 11 216 10.2 340
– CEE 88 102 141 -22 11 69 27.5 227
– Asia Pacific 40 41 78 5 11 68 -41.2 110
– Export & Holding 81 54 445 -8 11 71 14.1 404
Normalized EBIT 2,574 2,568 2,844 2,242 14 2,051 25.5 2,842
Net profit* 850 855 1,192 363 8 n/a n/a 1,132
Net profit** 551 644 818 55 7 n/a n/a 1,546
EPS 0.35 0.41 0.52 0.03 7 n/a n/a 0.72

FY2009

Mean Median High Low No Yr ago Change%
Volumes (mln hls) 408.0 407.7 412.3 405.3 14 416.1 -1.9
Revenue 36,723 36,739 37,120 35,587 15 39,158 -6.2
– North America 15,563 15,556 15,708 15,396 11 15,571 -0.1
– L. America-North 7,603 7,674 7,765 7,199 11 7,664 -0.8
– L. America-South 1,940 1,940 2,005 1,877 11 1,855 4.6
– Western Europe 4,338 4,350 4,418 4,207 11 4,967 -12.7
– CEE 2,502 2,514 2,590 2,417 11 3,267 -23.4
– Asia Pacific 1,900 1,913 1,959 1,827 11 2,285 -16.8
– Export & Holding 2,965 2,967 3,219 2,761 11 3,548 -16.4
Normalized EBITDA 13,205 13,237 13,466 12,809 15 12,067 9.4
– North America 5,814 5,843 5,933 5,623 11 4,697 23.8
– L. America-North 3,573 3,555 3,672 3,407 11 3,540 0.9
– L. America-South 893 890 932 857 11 808 10.5
– Western Europe 1,048 1,062 1,114 967 11 976 7.4
– CEE 606 620 659 496 11 571 6.1
– Asia Pacific 355 357 393 320 11 452 -21.5
– Export & Holding 914 886 1,277 825 11 1,024 -10.7
Normalized EBIT 10,436 10,422 10,708 10,107 14 4,022 159.5
Net profit* 3,900 3,904 4,242 3,413 8 1,288 202.8
Net profit** 3,884 3,977 4,152 3,389 7 2,099 85.0
EPS 2.45 2.51 2.62 2.13 7 1.29 89.9
Dividend per share 0.49 0.50 0.55 0.40 5 0.28 75.0

FY2010

Mean Median High Low No
Volumes (mln hls) 393.2 388.8 410.9 384.4 4
Revenue 36,028 35,748 38,411 34,304 5
– North America 15,922 15,904 16,059 15,821 4
– L. America-North 8,784 9,065 9,216 7,789 4
– L. America-South 2,080 2,047 2,210 2,017 4
– Western Europe 4,327 4,288 4,564 4,167 4
– CEE 1,326 1,274 1,768 987 4
– Asia Pacific 1,710 1,697 1,793 1,654 4
– Export & Holding 1,284 1,345 1,622 825 4
Normalized EBITDA 13,514 13,626 14,414 12,482 5
– North America 6,337 6,394 6,645 5,915 4
– L. America-North 4,051 4,035 4,362 3,774 4
– L. America-South 934 930 1,026 849 4
– Western Europe 1,045 1,018 1,216 927 4
– CEE 251 290 406 18 4
– Asia Pacific 261 250 348 196 4
– Export & Holding 321 318 395 252 4
Normalized EBIT 10,936 10,961 11,352 10,468 4
Net profit* 4,938 4,917 5,527 4,393 4
EPS 3.19 3.14 3.45 2.97 3
Dividend per share 0.58 0.60 0.70 0.44 3
* Normalized
** after minorities

Estimates: Bank Degroof, Bank of America – Merrill Lynch, Cheuvreux,
Evolution Securities, ING, KBC Securities, Kepler Capital Markets,
Main First Bank, Morgan Stanley, Natixis Securities,
Proactive Independent Ideas, Rabo Securities, Sanford Bernstein & CO,
Societe Generale, Theodoor Gilissen

Data provided by Inquiry Financial Europe AB (www.consensusestimates.com)

Stock Market News

(Writing by Philip Blenkinsop)

UPDATE 1-AB InBev Q4 core profit seen up 17 pct