Drinks giant AB InBev’s profits jumped in the first quarter of the year, despite a decline in sales volumes.

For the three months to 31 March 2025, EBITDA grew 7.9% to $4.85bn (£3.65bn), at the top end of its outlook, while overall sales increased by 1.5%.

AB InBev also experienced a 4.4% rise in combined sales of its ‘megabrands’ and a 1.8% sales increase of its premium beer portfolio, both led by Corona, which grew by 11.2% outside of its home market of Mexico, with double-digit volume growth in more than 30 markets.

Meanwhile, sales of the company’s no-alcohol beer portfolio soared by 34%.

However, volumes declined by 2.2% over the period, with beer volumes down by 2.5% and non-beer volumes down by 0.2%.

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AB InBev chief executive Michel Doukeris said: “Beer is a passion point for consumers. The strength of the beer category and the continued momentum of our megabrands delivered another quarter of profitable growth.”

In Europe, sales and volumes declined by low-single digits, however, EBITDA grew by low-teens with margin recovery.

In this region, the brewing company continued to premiumize its portfolio, with its premium and super premium brands making up 60% of its first quarter sales.

This performance was again driven by megabrands, with Corona and Stella Artois growing volumes by low-single digits, while the no-alcohol beer portfolio grew volumes by high-teens in Europe, led by Corona Cero.

In the UK, the drinks giant strengthened its portfolio with the addition of the San Miguel brand and said it is now the leading brewer in the market.

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

Doukeris added: “The consistent execution of our strategy by our teams and partners drove a solid start to the year and reinforces our confidence in delivering on our outlook for 2025.”