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Supplemental guarantor financial information

12 Months Ended

Dec. 31, 2024

Supplemental guarantor financial information

32. Supplemental guarantor financial information

European public debt

Certain debt securities issued outside the United States in reliance on Regulation S by Anheuser-Busch InBev SA/NV (“ABISA”) under its Euro Medium-Term Note Programme are guaranteed by Anheuser-Busch InBev Worldwide Inc. (“ABIWW”), Anheuser-Busch InBev Finance Inc. (“ABIFI”), Anheuser-Busch Companies, LLC (“ABC”), Brandbrew S.A. (“Brandbrew”), Brandbev S.à r.l. (“Brandbev”) and Cobrew NV (“Cobrew”) (collectively, the “Subsidiary Guarantors”). ABISA owns, directly or indirectly, 100% of each of the Subsidiary Guarantors. The information presented below has been presented to satisfy the disclosure requirements of the United Kingdom Financial Conduct Authority.

Summarized Financial Information

The first five columns in the table below present summarized financial information for (i) ABISA, (ii) ABIWW, (iii) ABIFI and (iv) ABC, and (v) Brandbrew, Brandbev and Cobrew. Investments in consolidated subsidiaries are presented under the equity method of accounting as “Other

non-current

assets”.

The final column presents financial information for ABISA and the Subsidiary Guarantors on a combined basis after elimination of intercompany transactions and balances among them and excluding investments in and equity in the earnings of both

non-Guarantor

Subsidiaries and Guarantor Subsidiaries.


Income Statement For the year ended 31 December 2024 Million US dollar	ABISA		ABIWW		ABIFI		ABC		Brandbrew, Brandbev and Cobrew		Eliminations		Total ABISA and Subsidiary Guarantors after eliminations
Revenue		507		-		-		12 877		-		(61)		13 323
Cost of sales		(470)		-		-		(6 024)		-		55		(6 440)
Gross profit		37		-		-		6 852		-		(6)		6 883
Selling, general and administrative expenses		(139)		1 081		-		(5 607)		-		6		(4 659)
Other operating income/(expenses)¹		633		(4)		-		(106)		-		-		523
Profit/(loss) from operations		530		1 077		-		1 139		-		-		2 747
Net finance income/(expense)¹		(588)		(1 496)		18		(891)		248		-		(2 709)
Income tax expense		(83)		129		(4)		(76)		(9)		-		(43)
Profit/(loss)		(141)		(290)		14		172		240		-		(5)
Income from subsidiaries		5 995		408		-		236		869		(7 509)		-
Profit of the period		5 855		118		14		408		1 109		(7 509)		(5)


Income Statement For the year ended 31 December 2023 Million US dollar	ABISA		ABIWW		ABIFI		ABC		Brandbrew, Brandbev and Cobrew		Eliminations		Total ABISA and Subsidiary Guarantors after eliminations
Revenue		473		-		-		13 260		-		(52)		13 682
Cost of sales		(456)		-		-		(6 330)		-		47		(6 739)
Gross profit		17		-		-		6 930		-		(5)		6 943
Selling, general and administrative expenses		88		1 128		-		(5 889)		5		5		(4 664)
Other operating income/(expenses)¹		132		(4)		-		(285)		1		-		(157)
Profit/(loss) from operations		237		1 124		-		756		6		-		2 122
Net finance income/(expense)¹		(943)		(801)		16		(73)		(93)		-		(1 894)
Income tax expense		(11)		(85)		(5)		(179)		(20)		-		(299)
Profit/(loss)		(717)		238		11		504		(108)		-		(71)
Income from subsidiaries		6 058		761		-		257		421		(7 497)		-
Profit of the period		5 341		999		11		761		314		(7 497)		(71)

1	Other operating income/(expenses) and Net finance income/(expense) include exceptional items.


Statement of Financial Position As at 31 December 2024 Million US dollar	ABISA		ABIWW		ABIFI		ABC		Brandbrew, Brandbev and Cobrew		Eliminations		Total ABISA and Subsidiary Guarantors after eliminations
Due from subsidiaries		11 779		8 792		3 472		39 257		6 629		(15 415)		54 513
Other non-current assets		103 542		102 143		1		124 340		27 309		(295 233)		62 104
Total non-current assets		115 321		110 935		3 473		163 597		33 938		(310 648)		116 617

Due from subsidiaries		2 373		94		459		8 162		1 338		(6 757)		5 669
Other current assets		251		116		8		1 598		3 327		-		5 301
Total current assets		2 625		210		467		9 760		4 666		(6 757)		10 971

Total equity		78 237		50 936		405		132 668		28 542		(295 233)		(4 445)

Due to subsidiaries		15 265		23 444		-		11 080		484		(15 415)		34 858
Other non-current liabilities		22 647		25 920		3 443		24 256		64		-		76 330
Total non-current liabilities		37 912		49 364		3 443		35 336		548		(15 415)		111 188

Due to subsidiaries		181		10 295		5		1 908		3 827		(6 757)		9 459
Other current liabilities		1 617		550		88		3 445		5 686		-		11 385
Total current liabilities		1 798		10 845		93		5 353		9 513		(6 757)		20 844


Statement of Financial Position As at 31 December 2023 Million US dollar	ABISA		ABIWW		ABIFI		ABC		Brandbrew, Brandbev and Cobrew		Eliminations		Total ABISA and Subsidiary Guarantors after eliminations
Due from subsidiaries		12 812		19 682		3 762		48 907		5 200		(23 405)		66 958
Other non-current assets		111 216		81 459		4		126 096		16 155		(273 481)		61 448
Total non-current assets		124 028		101 141		3 766		175 003		21 355		(296 886)		128 407

Due from subsidiaries		3 240		8 146		448		915		14 744		(10 793)		16 700
Other current assets		234		129		-		1 870		254		-		2 487
Total current assets		3 474		8 275		448		2 784		14 998		(10 793)		19 187

Total equity		81 848		50 663		391		111 217		20 300		(273 481)		(9 062)

Due to subsidiaries		20 852		27 427		-		26 230		526		(23 405)		51 631
Other non-current liabilities		21 255		28 618		3 745		25 848		115		-		79 581
Total non-current liabilities		42 108		56 046		3 745		52 077		641		(23 405)		131 212

Due to subsidiaries		277		2 079		1		11 021		9 236		(10 793)		11 821
Other current liabilities		3 270		628		77		3 473		6 175		-		13 622
Total current liabilities		3 547		2 706		78		14 494		15 411		(10 793)		25 444