The South African Breweries (SAB)’s revenue increased by high-single digits with revenue per hl growth of mid-single digits, driven by revenue management and premiumization for Q326 earnings results.
Volumes grew by low-single digits, estimated to have underperformed the industry, as SAB cycled a strong performance in 3Q25. EBITDA was flattish with top-line growth offset by elevated commodity and distribution costs and the phasing of sales and marketing investments.
Commenting on the results, SAB CEO Richard Rivett-Carnac said “The beer and Beyond Beer industry continued to grow and gain share of alcohol beverages year-to-date, according to our estimates. Consistent execution of our strategy and increased portfolio brand power drove record high third quarter volumes for our business. Growth was led by our premium and super premium beer portfolio, which increased volume by mid-thirties and gained share of the segment. Our Beyond Beer portfolio continued to outperform the category, delivering low-thirties volume growth.