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Normalized EBITDA by Geography
Evaluates adjusted earnings before interest, taxes, depreciation, and amortization across regions, providing insight into operational performance and profitability without the impact of non-recurring items.Middle Americas has become the primary EBITDA engine, consistently outgrowing other regions and underpinning the company’s margin expansion; North America and EMEA show steady recovery and helped drive 2025 EBITDA gains, while APAC remains volatile and China is a clear drag (management cited low‑teens revenue declines and weak on‑trade). AB InBev’s 4–8% organic EBITDA guidance and aggressive buybacks/dividend hinge on Middle Americas momentum and margin delivery, but near‑term H1 2026 phasing and transactional FX/hedging risks could mute reported progress.
Date | North America | Middle Americas | South America | EMEA | APAC | Global Export and Holding Companies |
|---|---|---|---|---|---|---|
Jun 30, 2026 | $1.41B | $2.56B | $886.00M | $843.00M | $493.00M | -$252.00M |
Mar 31, 2026 | $1.10B | $2.21B | $1.19B | $703.00M | $497.00M | -$256.00M |
Dec 31, 2025 | $969.00M | $2.23B | $1.31B | $776.00M | $244.00M | -$281.00M |
Sep 30, 2025 | $1.32B | $2.17B | $881.00M | $859.00M | $452.00M | -$91.00M |
Jun 30, 2025 | $1.37B | $2.15B | $692.00M | $800.00M | $533.00M | -$245.00M |
Mar 31, 2025 | $1.09B | $1.86B | $1.01B | $624.00M | $523.00M | -$244.00M |
Dec 31, 2024 | $969.00M | $2.23B | $1.31B | $776.00M | $244.00M | -$281.00M |
Sep 30, 2024 | $1.36B | $2.07B | $908.00M | $780.00M | $503.00M | -$194.00M |
Jun 30, 2024 | $1.34B | $2.22B | $750.00M | $721.00M | $570.00M | -$295.00M |
Mar 31, 2024 | $1.13B | $1.89B | $1.08B | $569.00M | $616.00M | -$295.00M |