Dive Brief:
- SABMiller Plc said Ebitda rose 1.2% to $6.45 billion in the fiscal year that ended March 31. That topped the $6.44 billion expected by analysts.
- The maker of Miller, Peroni, Grolsch, and other beers said currency swings hurt considerably -- knocking some $400 million off Ebitda for the year -- and would likely continue to cause problems this year.
- Developing markets performed well, the brewer said. Sales in North America and Europe remained weak.
Dive Insight:
Roughly 75 cents of every dollar that SABMiller takes in comes from emerging markets. That's quite remarkable, and perhaps a little worrisome to investors. The nature of an emerging market is that it's emerging. At some point the growth in such places levels off.
But at least for now, SABMiller says there's no need to fear -- the beer market in the developing world is still developing quite nicely, despite those currency swings.