Capital, Earnings & M&A
Budweiser Suffers from 'Premium Anxiety'
Budweiser, the premium beer leader, is also feeling anxious. According to Budweiser APAC's 2023 financial report, annual revenue was $6.856 billion, up 11.1% year-on-year, but net profit was $852 million, down 6.7%. The company is clearly caught in a cycle of increasing revenue without increasing profit. While rising sales costs have impacted net profit, the more critical issue is that competition in the premium beer market has become intense, and Budweiser, which relies heavily on the Chinese market, is seeing its market share eroded by local brands like China Resources, Tsingtao, and Yanjing.
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