Brewing company Anheuser-Busch (AB) InBev has reported progress in its share buyback programme, having bought back shares worth R813-million between January 19 and 23.
The makers of Corona and Stella Artois beer announced a $6-billion share buyback programme over two years after reporting noticeable but lower than expected profits in the third quarter and debt reduction.
Since the programme was announced in October 2025, AB InBev has spent over R8.7-billion buying 8, 576 156 shares. The company noted that this corresponded with the 0.42% of the total outstanding shares.
Corona’s sterling performance
The third quarter of 2025 showed 0.9% revenue increase per hectolitre (hl), which measures revenue per 100 litres of product sold.
Corona performed well outside its home market delivering 6.3%. The beer brand led the combined revenues of megabrands in the third quarter of 2025, which showed an increase of 3%.
The third quarter also saw a decrease in beer volumes by 3.9% and non-beer volumes by 2.2%. Total volumes dropped by 3.7% in the third quarter and 2.6% in the nine-month period of 2025.
In South Africa, AB InBev continued to deliver solid growth. This was supported by strong demand and improved operating performance.
This was also driven by local loved brands, led by Carling Black Label. Premium and super-premium beer portfolio also maintained strong momentum. It recorded mid-single digit revenue growth, supported by Stella Artois. In the Beyond Beer category, volumes grew by mid-teens, led by brands such as Flying Fish, Brutal Fruit and Redd’s.
Mid-single digits revenue growth
During the third quarter of 2025, revenue increased by mid-single digits, with a slight rise in revenue per hl. Volumes also grew by mid-single digits. This was helped by shipment timing ahead of the company’s October price increase.
AB InBev said it maintained its share of the beer market while gaining share in its Beyond Beer portfolio. Earnings before interest, tax, depreciation and amortisation (EBITDA) rose by high-single digits. This was supported by improved margins.
For the nine-month period to September 2025, revenue increased by mid-single digits. This while revenue per hectolitre grew by low-single digits.
Volumes rose by low-single digits, with the group estimated to have gained market share in both beer and Beyond Beer.
