高盛研究报告指，百威亚太(01876.HK) 即将公布次季业绩，该行预期次季集团整体内生收入(organic revenue)跌6.9%，经调整EBITDA跌12.6%，净利润录2.16亿美元，而去年同期为2.54亿美元；展望第三季及下半年，预期盈利增长会慢慢恢复。至于全年，该行料亚太东部地区内生EBITDA升2.2%，由平均售价上升及销量增长推动；亚太西部地区内生EBITDA则按年跌5.7%，但消费者情绪将逐渐恢复。目标价由9.2元下调至9元，维持“买入”评级。
报告指，次季内地市场行业仍然疲弱，销售渠道低迷，去库存措施持续。该行料进入下半年将见到按季恢复，因库存渠道更健康令去库存的影响消退，以及基数更有利。印度方面，预期收入的强劲增长势头将持续至次季。至于韩国，该行料短期将面临挑战，因次季销量或受到4月起提价影响付运，加上在行业需求疲弱下的高基数，对近期当地啤酒行业逆风持更谨慎看法。(ss/u)(港股报价延迟最少十五分钟。沽空资料截至 2025-06-26 16:25。)
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