Budweiser Brewing Co APAC Ltd

01876: XHKG (HKG)

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Budweiser APAC Earnings: China Volumes Stabilize While India Delivers Solid Growth; Retain Valuation

Jacky Tsang

May 5, 2026

Budweiser APAC's first-quarter organic revenue and EBITDA declined 0.7% and 8.1% year on year, respectively, due to a high base in South Korea and increased channel investments in China. However, volume declines in China moderated meaningfully, while the India market delivered robust volume growth.

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Budweiser Brewing Co APAC Ltd

Budweiser APAC Earnings: China Volumes Stabilize While India Delivers Solid Growth; Retain Valuation

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