Anheuser-Busch InBev reports Fourth Quarter 2012 and Full Year 2012 Results
Bibliographic record
Abstract
Except where otherwise stated, the comments below are based on organic figures and refer to FY12 and 4Q12 versus the same period of last year. For important disclaimers please refer to page 2. • Revenue growth: Revenue grew 7.2 % in FY12 and 8.8 % in 4Q12, with revenue per hl growth of 7.7 % in FY12 and 8.8 % in 4Q12 on a constant geographic basis, resulting from favorable brand mix and revenue management best practices • Volume performance: Total volumes in FY12 grew 0.3%, with own beer volumes increasing 0.1%, while non-beer volumes increased 2.2%. In 4Q12, total volumes declined 0.1%, with own beer volumes down 0.3 % and non-beer volumes growing 0.8% • Focus Brands: Our Focus Brand volumes grew 1.5 % in FY12, with our three global brands, Budweiser, Stella Artois and Beck’s, growing by 4.1%. In 4Q12, Focus Brands grew by 0.4% • Cost of Sales (CoS): CoS increased 5.4 % in FY12 and by 8.4 % in 4Q12. CoS per hl increased 7.2 % in FY12 and 10.0 % in 4Q12 on a constant geographic basis • EBITDA: EBITDA grew 7.7 % in FY12 to 15 511 million USD, with a margin of 39.0%, an increase of 18 bps. In 4Q12, EBITDA grew 9.9 % to 4 388 million USD with margin expansion of 44 bps • Net finance costs: Net finance costs (excl. non-recurring net finance costs) in FY12 were 2 188 million USD, down 15.7 % compared to FY11. Net finance costs of 751 million USD in 4Q12 include other financial results of-227 million USD from non-cash, unrealized foreign exchange translation losses on intercompany payables and loans, costs of currency and commodity hedges and losses from derivative contracts related to our share-based payment programs • Income taxes: Income tax in FY12 was 1 717 million USD with an effective tax rate of 16.3%, compared to an income tax expense of 1 856 million USD in FY11 with an effective tax rate of 20.2% • Profit: Normalized profit attributable to equity holders of AB InBev grew 12.9 % in nominal
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How this classification was reachedexpand
Full frame machine prediction
Teacher imitationNot calibrated prevalence, not ground truth. Human validation pending. The Gemma side is a direct model label for every work in the frame, read from the title-only record. The Codex side is a classifier learned from the 10,348 direct Codex labels and calibrated to design-weighted sample rates; fields without enough sample support carry no Codex call. Candidate is the union of the two sides; consensus is their intersection. These outputs are machine_predicted_unvalidated and are not human labels.
Distilled classifier scores by category (both heads)
| Category | Codex | Gemma |
|---|---|---|
| Metaresearch | 0.004 | 0.013 |
| Meta-epidemiology (narrow) | 0.001 | 0.001 |
| Meta-epidemiology (broad) | 0.001 | 0.001 |
| Bibliometrics | 0.005 | 0.006 |
| Science and technology studies | 0.002 | 0.000 |
| Scholarly communication | 0.007 | 0.002 |
| Open science | 0.001 | 0.003 |
| Research integrity | 0.001 | 0.001 |
| Insufficient payload (model declined to judge) | 0.525 | 0.478 |
Machine scores (provisional)
The two teacher heads of the student model, read on this work. A score orders the frame for review; it never asserts a category, and the validation status ships verbatim with every row.
Baseline scores from an immature model (maturity gate not passed, 7 training rounds). Scores rank; they never assert a category.
score_only:v0-immature-baseline · verbatim from the scoring run: score_only means the number may rank works, and no category label ships from itClassification
machine, unvalidatedMachine predicted; a candidate call from one source (direct Gemma or distilled Codex), not a consensus.
How this classification was reached, model by model and score by score, is at the end of the page under "How this classification was reached".