大行评级丨高盛:百威亚太第三季度有机销售额胜预期 评级“买入”

中金财经
Oct 30, 2025

  高盛发表报告指,百威亚太第三季度有机销售额按年下跌8.4%,优于该行预期的按年跌12.6%;标准化EBITDA为4.38亿美元,有机计算按年跌6.9%,优于该行预期的4.01亿美元(有机计算按年跌15.8%),并高于市场共识预期的4.07亿美元。   中国市场收入有机计算按年跌15.1%,EBITDA有机计算按年跌17.4%,表现领先该行预期的按年跌17.9%及26%。印度市场实现双位数收入增长,并在低基数上实现显著的EBITDA利润率扩张。韩国市场表现优于整体市场,销量大致持平,平均售价因收入管理措施及持续推出新产品而实现中单位数按年增长。   该行对其评级为“买入”,目标价为8.9港元。      【免责声明】本文仅代表作者本人观点,与和讯网无关。和讯网站对文中陈述、观点判断保持中立,不对所包含内容的准确性、可靠性或完整性提供任何明示或暗示的保证。请读者仅作参考,并请自行承担全部责任。邮箱:news_center@staff.hexun.com   

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