SAB - Severe COVID-19 outbreaks dent Q3 earnings - Earnings Flash
  • 2021-10-27T00:00:00
  • Company Research

SAB released 9M 2021 results, in which revenue and NPAT-MI plunged 14% YoY and 27% YoY, respectively. In Q3 2021 alone, revenue and NPAT-MI nosedived 47% YoY and 68% YoY, respectively, as strict social distancing measures — including an extensive shutdown of the on-trade channel (e.g., restaurants) — hurt domestic beer consumption. We note that SAB’s key competitor reported an even deeper sales volume slump YoY in Q3 2021 compared to SAB.  



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