February 26, 2020 / 11:17 PM / a month ago

BRIEF-Budweiser Brewing Company APAC Posts FY Profit Attributable $898 Mln

Feb 27 (Reuters) - Budweiser Brewing Company APAC Ltd :

* FY REVENUE $6,546 MILLION VERSUS $6,740 MILLION

* ANNOUNCES A FINAL DIVIDEND OF US DOLLAR 2.63 CENTS PER SHARE

* TOTAL VOLUMES DECREASED BY 3.0% IN FY19

* FINISHED 2019 WITH A CHALLENGING 4Q19 IN CHINA DUE TO A SLOW RECOVERY IN NIGHTLIFE CHANNEL

* HAD A STRONG START OF YEAR DURING FIRST THREE WEEKS OF JANUARY 2020

* IMPACT OF VIRUS OUTBREAK ON BUSINESS CONTINUES TO EVOLVE

* HAVE OBSERVED ALMOST NO ACTIVITY IN NIGHTLIFE CHANNEL AND VERY LIMITED ACTIVITY IN RESTAURANTS

* FOR FIRST TWO MONTHS OF 2020, ESTIMATING A DECLINE IN REVENUE OF ABOUT 285 MILLION USD ORGANICALLY

* PREMIUM PORTFOLIO IN CHINA LED BY BUDWEISER EXPERIENCED A LOW SINGLE-DIGIT VOLUME DECLINE IN FY19

* OBSERVED DECLINE IN IN-HOME CHANNEL WITH EXCEPTION OF E-COMMERCE, WHICH HAS ACCELERATED GROWTH SIGNIFICANTLY IN CHINA

* FOR FIRST 2 MONTHS OF 2020, ESTIMATING DECLINE IN NORMALIZED EBITDA OF ABOUT 170 MILLION USD ORGANICALLY IN CHINA

* RE-OPENED MORE THAN HALF OF BREWERIES & OBTAINED LICENSES TO RE-OPEN ALL OF OTHER BREWERIES, EXCEPT IN WUHAN Source text for Eikon: Further company coverage:

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