Navigated global volatility by leveraging geographic diversity, balancing challenges in Europe with resilience in Africa and the Americas.
Shifted company culture to prioritize cost and productivity, enabling continued long-term investment.
Achieved initial benefits from capital productivity and cash returns, with a focus on execution during CEO transition.
Maintains a clear strategy and is focused on delivering results for the current year.
Europe shows cautious consumer sentiment but category stabilization; price-consciousness is high.
Africa demonstrates agility and resilience, with growth in Ethiopia, South Africa, and Nigeria.
Asia benefits from positive consumer sentiment and healthy macroeconomic conditions, despite Middle East tensions.
Americas face macroeconomic headwinds, with beer category slightly contracting and cautious outlook.
EBITA growth guidance for the year is 2%-6%, with scenario planning for market uncertainties.
Key risks include the duration of the Strait of Hormuz closure and its impact on consumer sentiment.
Moderate inflation is expected into 2027 due to elevated input costs like aluminum, diesel, and LNG.
Productivity initiatives offset some cost pressures, allowing continued investment without panic pricing.
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