AB InBev’s profits and sales rose across the fourth quarter and the full-year, driven by its premium portfolio and “megabrands” Corona and Stella Artois.

In its fourth quarter, the brewing company’s profits edged up to $1.7bn (£1.3bn), up from $1.6bn (£1.2bn) in the same period in 2023, while full-year profits increased to $7.06bn (£5.57bn), up from $6.1bn (£4.8bn).

Meanwhile, reported sales rose 2.5% to $14.8bn (£11.6bn) for the fourth quarter, while full-year sales inched up 0.7% to $59.7bn (£47bn).

The positive results came as the beer category remained “resilient” throughout the year, and as AB InBev continued to ‘premiumise’ its portfolio, with premium and super premium brands making up around 57% of its total full-year sales.

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However, the brewer said its performance this year was driven by its “megabrands“, Corona and Stella Artois, and in the UK specifically it strengthened its portfolio with the addition of the San Miguel brand, which is now the leading brewer in the industry.

In no-alcohol beer, AB InBev expanded the availability of Corona Cero to 27 markets, growing volumes by “strong” double-digits.

AB InBev chief executive Michel Doukeris said: “Beer is a passion point for consumers and a vibrant category globally. The strength of our 2024 results is a testament to the consistent execution of our strategy and the hard work and dedication of our people.

“We delivered EBITDA growth at the top-end of our outlook and a step change in our free cash flow generation. We are investing for the long-term and are confident in our ability to lead and grow the category.”

Looking ahead, the company expects to grow in line with its medium-term outlook of between 4% to 8%.