Q4 core profit EBITDA up 7.6 vs consensus 7.1
Sees 2023 EBITDA increase of 48
China, hit by COVID, set for rebound
Higher prices compensate for lower volumes

BRUSSELS, March 2 Reuters AnheuserBusch InBev, the world39;s largest brewer, expressed confidence in China39;s recovery and the willingness of drinkers to pay higher prices after reporting increased profit in the fourth quarter despite lower beer sales.

The maker of Budweiser, Corona and Stella Artois on Thursday registered record drinks volumes for the year, but they fell by 0.6 in the final quarter of 2022, compared with a rise expected by the market.

AB InBev39;s sales and earnings declined in China due to a strict zero COVID policy that was suddenly dropped in December.

The company39;s Asian subsidiary, which also released results on Thursday, said the restaurants and night life venues it supplies in China had almost fully reopened by the end of February. It said it was optimistic for a recovery in 2023 after a transitional first quarter.

In the United States, AB InBev39;s largest market, profit and revenue increased, largely because of price increases, although those same increases, along with harsh winter weather in December, cut into beer sales in volume terms.

Chief Executive Michel Doukeris said many retailers, aware of upcoming price hikes in October, stocked up in September. In the first six weeks of 2023, U.S. volumes were only down about 1, with revenue some 5 higher, he said.

Beer is a very…