Global beer giant AB Inbev reported a Q3 revenue decline as it closes in on acquiring rival SabMiller.
However, the results are positive if viewed without currency-based contributing factors.
Revenue in Q3 2015 was $11.38 billion, down from $12.24 billion this time last year, according to a press release.
The company pointed to unfavorable currency translation as the fundamental reason for the results. Organic growth, which does not take into account currency volatility, actually showed a 7.9% revenue increase.
AB Inbev attributed the organic gains to volume growth in America, Mexico and Latin America North. And global brands had strong showings, increasing 11.5% in volume and 15.9% in revenue.
“Stella Artois volumes grew by 12.9%, driven by good performances in the UK, the US, Canada and Argentina,” the company said in a press release. “Budweiser volumes grew by 11.5%, with particularly strong growth in China, Russia, the US and the UK, while Corona volumes grew by 11.1%, driven by growth in Mexico and most of our export markets.”
After these results, AB Inbev readjusted its previous year-long outlook — of organic revenue growing in line with inflation — to organic revenue outpacing inflation. This is primarily due to “higher than expected premium brand volumes.”
AB Inbev and SabMiller were granted additional time this past week to finalize details of their proposed mega-merger. They have until Wednesday, Nov. 4.