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AB InBev May Have $700m Ebit Boost From Corona, Citi Says 2014-03-24 08:18:33.463 GMT
By Heather Burke March 24 (Bloomberg) -- AB InBev may increase Ebit by $700m over 5 yrs by expanding Corona internationally, Citi says; reiterates buy, PT EU85. * Corona has boosted AB InBev’s exposure to intl premium beer * Corona vol. outside U.S., Mexico is 1/6 of Heineken or Budweiser; growth reined in by 3rd party distribution, may change as AB InBev takes charge * AB InBev has raised Budweiser intl vol. to 23m hl from 9m since taking over brand in 2008 * Asset-light entry to new mkts with its premium beers may also boost Ebit by several hundred millions, will take longer than 5 yrs * NOTE: Bought rest of Corona maker Grupo Modelo in 2012
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To contact the reporter on this story: Heather Burke in London at +44-20-7673-2044 or hburke2@bloomberg.net To contact the editors responsible for this story: James Ludden at +44-20-7673-2645 or jludden@bloomberg.net James Cone