BUD APAC (01876) announced its financial results for the three months ended March 31, 2026. During the period, the group's total volume reached 1.974 billion liters, a decrease of 0.02% compared to the same period last year. Revenue amounted to $1.493 billion, reflecting a year-on-year increase of 2.19%. Profit attributable to equity holders of BUD APAC was $226 million, down 3.42% from the prior year period. Normalized basic earnings per share were 1.77 cents.

In China for the first quarter of 2026, volume declined by 1.5%. Since the second half of 2025, the group's quarterly volume decline has continued to narrow. Revenue and revenue per hectoliter decreased by 4.0% and 2.5%, respectively, as the company increased investments to support distributors and revitalize the brand in non-immediate consumption and emerging channels. Normalized EBITDA fell by 10.9%, impacted by revenue performance, increased investments, and a reduction in other operating income.