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Investments in associates

12 Months Ended

Dec. 31, 2023

Investments accounted for using equity method [abstract]

Investments in associates

16. Investments in associates

A reconciliation of the summarized financial information to the carrying amount of the company’s interests in material associates is as follows:

		2023												2022
Million US dollar		Castel				Anadolu Efes								AB InBev Efes				Castel				Anadolu Efes
Balance at 1 January			3 293				171								1 143				3 400				201
Effect of movements in foreign exchange			107				(63)								-				(172)				(57)
Dividends received			(22)				(10)								-				(87)				(14)
Share of results of associates			104				66								-				152				41
Exceptional share of results of associates			-				-								(1 143)				-				-
Balance at 31 December			3 482				164								-				3 293				171

Summarized financial information of the company’s material associates is as follows:

		2023										2022
Million US dollar		Castel				Anadolu Efes						Castel				Anadolu Efes
Current assets			3 854				3 028						3 399				2 973
Non-current assets			4 168				3 590						3 679				4 654
Current liabilities			(2 012)				(2 462)						(1 803)				(2 581)
Non-current liabilities			(540)				(1 408)						(439)				(1 767)
Non-controlling interests			(647)				(1 457)						(564)				(1 789)
Net assets¹			4 823				1 291						4 272				1 490

1 The net assets are converted at the respective closing rates of December.

Revenue			5 273				4 561						4 942				4 222
Profit (loss)			585				481						767				287
Other comprehensive income (loss)			83				212						74				1 503
Total comprehensive income (loss)			668				693						841				1 790

In 2022, the company reported a (1 143)m US dollar exceptional share of results of associates related to its investment in AB InBev Efes (Refer to Note 8 Exceptional items). As of 31 December 2023, the investment in AB InBev Efes remains classified as non-current asset held for sale.

In 2023, associates that are not individually material contributed 126m US dollar to the results of investment in associates (31 December 2022: 106m US dollar; 31 December 2021: 90m US dollar).

Additional information related to the significant associates is presented in Note 34 AB InBev Companies.

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- Definition

The disclosure of associates. [Refer: Associates [member]]

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