AB InBev targets 4% to 8% core profit growth in the medium term

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BRUSSELS, December 6 (Reuters)Anheuser-Busch InBev’sABI.BR new management monday define a core profit growth target for the biggest brewer in the world of 4% at 8% in the medium term.

the maker of Budweiser beersStella Artois and Corona, managed since July 1 by Michel Doukeris, will be organize a seminar for investors on Monday.

Over the 10-year period 2010-2019, AB InBev earnings before interest, taxes, depreciation and amortization (EBITDA) rose 7.3% on average, then fell 2.4% in pandemic-hit 2020.

The Belgium-based company expects an expansion of 10-12% this year.

Its “organic” EBITDA growth objective eliminates the impact of foreign exchange fluctuations on the translation of foreign operations and acquisitions and divestitures.

Doukeris, formerly head of AB InBev’s sales and North American business, replaced fellow Brazilian Carlos Brito who made the brewer the world’s biggest for 15 years at the helm.

Brito has driven growth through acquisitions and cost savings. His successor is expected to focus more on increasing sales of over 500 brands in an already concentrated beer market.

(Reporting by Philip Blenkinsop; editing by Louise Heavens and Jason Neely)

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