Corona and Stella keep driving profits for SAB, as AB InBev reports declining global demand for beer
South African Breweries' strong second-half performance was led by the two premium beer brands.
Stephen Grootes interviews Richard Rivett-Carnac, CEO of South African Breweries, after AB InBev posts its latest results.
Multinational drink and brewing company AB InBev has reported weaker-than-expected revenue in the second quarter of 2025 with declining volumes of beer shipped.
Revenue increased by 3% in 2Q25 and by 2.3% in half year 2025.
Locally, South African Breweries (SAB) continues to deliver a strong performance, according to its parent company's results for the second quarter and HY25.
Continued momentum and market share gain delivered mid-single digit top- and bottom-line growth for SAB.
Performance was led again by SAB's premium and super premium beer brands driven by Corona and Stella Artois, with volumes growing by mid-teens.
Core beer brands delivered low-single digit volume growth, while its Beyond Beer portfolio grew volumes by mid-single digits.
At the same time, the industry is feeling the pressure of consumers who are under financial pressure, says SAB CEO Richard Rivett-Carnac.
"We see what is happening in the country translating into beer sales and into alcohol sales more generally. We're a mature alcohol market and so if there isn't GDP growth and consumer confidence, and consumers aren't spending money, that does impact the industry."
Richard Rivett-Carnac, CEO - South African Breweries
Rivett-Carnac also talks about the enduring value of premium brands.
It's a trend globally that the premium beer market grows faster than the overall beer market, he says.
"It's very important therefore that you have premium brands playing within this segment of the market - the reality is that a premium beer is something that you a treat yourself with, and it doesn't cost that much."
Richard Rivett-Carnac, CEO - South African Breweries"
"If you don't have a strong offering in that space you lose out to your competitors, so we've invested heavily behind these two brands."
Richard Rivett-Carnac, CEO - South African Breweries
He's confident that there is still a lot of space for the Corona and Stella brands to grow market share in South Africa.
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