Summary by Futu AI
BUD APAC announced on August 1, 2024 its unaudited interim performance and Q2 financial data for the six months ended June 30, 2024. Despite the slowdown in the Chinese market affecting performance in the first half of the year, strong growth in the South Korean and Indian markets helped the company maintain a stable level of profitability. Total sales volume in the first half of the year decreased by 6.2%, revenue decreased by 4.3%, and the normalized EBITDA margin increased by 109 basis points to 32.4%. CEO Yang Ke said that the company will continue to execute its strategy and invest in brand and capability to drive long-term growth. Normalized earnings attributable to Bud APAC shareholders slightly decreased, with normalized EPS dropping from 4.38 cents in the first half of 2023 to 4.19 cents in the first half of 2024. The company emphasizes that unaudited financial data should not be overly relied upon.