SAB delivers strong performance in the first 6 months of 2024

The South African Breweries (SAB) recently reported a strong volume performance that helped deliver double-digit top-and bottom-line growth with margin expansion.

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For the three months ended 30 June, revenue increased in the low teens, with revenue per hectoliter growing high single digits, driven in part by the ongoing growth of the super-premium brands, Stella Artois and Corona. Total volumes rose by mid-single digits, and EBITDA grew by the low thirties, accompanied by margin expansion.

Commenting on the results, CEO Richard Rivett-Carnac said, “Our business continues to gain momentum, with our portfolio showing strong performance and capturing market share in both beer and Beyond Beer, based on our estimates. This quarter's beer performance was led by our above-core beer brands, which grew volumes by mid-teens, driven by Corona and Stella Artois and the continued volume growth of our core portfolio.”