TRUDEAU, BEER IN U.S. AN HIGHS
OTHER BUSCH, FIRST ON FOX
MICHELLE GREAT TO HAVE YOU ON
THE PROGRAM THANKS FOR JOINING
US.
>> THANK YOU.
>> RIGHT NOW YOUR FOCUS ON
NORTH AMERICA BUT FOR A LONG
TIME YOU LIVED IN CHINA, YOU
WERE RUNNING THE ASIAN
BUSINESS I WANT TO ASK YOU
ABOUT THAT YOU LIVED IN CHINA
SEVEN YEARS.
>> SEVEN YOOERPS AS TO TELL ME
ABOUT YOUR EXPERIENCES THERE,
WHAT YOUR REACTION IS, TO ALL
OF THIS UPSET OVER CHINA'S
BEHAVIORS PRACTICES WHEN IT
COMES TO THE U.S.
>> SO THERE WAS AN INTOING
SIGN WAS TIME OF ANHEUSER US
ABOUT BUSCH GROWING BUSINESS
GREAT OPPORTUNITY.
THE BIGGEST MARKET GLOBALLY
FOR -- CHINA WE HAD TIME THERE
WHEN I THINK ABOUT THE
SANCTIONS THEY USE TODAY I
THINK GOES MORE TO THE
POLITICS, AND POSITIONS
POLITICIANS I AM SURE WILL
FIND A GOOD WAY TO GET OUT OF
THAT THINGS WILL SETTLE.
MARIA: YOU WERE ABLE TO
TERRORISM THE VOLUME OF
BUDWEISER IN CHINA OVER A
COUPLE OF YEARS, TLOO -- THREE
YEARS OR SOMETHING TELL ME
ABOUT CHINESE LOVE OF BRANDS
WHAT YOU SAW, AS YOU SAW AS
YOU YOU SAW BUDWEISER EXPAND
SO MUCH IN CHINA.
>> BUDWEISER IS THE SUPER
PREMIUM BRAND IN CHINA, IT IS
GROWING VERY FAST WE ACTUALLY
TRIPLED TWICE BECAUSE LIKE SIX
TIMES GROWTH IN SEVEN YEARS.
>> INCREDIBLE.
>> ALL RELATED TO
PREMIUMIZATION, STRONG TREND
IN CHINA BUDWEISER HAS THIS
GREAT POSITION OF BEING A
SUPER PREMIUM BRAND VERY CLOSE
TO LOCAL TRADITIONS BUT STILL
IMPORTED IN TERMS OF
CREDENTIALS WITH CHINA SELL IN
CHINA PEOPLE SEE BRAND AS
INTERNATIONAL.
AND THE BRAND IS VERY WELL
POSITIONED IN THE PREMIUM YOU
MEAN.
>> YOU HAVE NORMS STAKE IN
LATIN AMERICA OBVIOUSLY, ONE
OF YOUR IMPORTANT VERY
IMPORTANT MARKETS, WHEN YOU
LOOK A U.S. MCA THE CANADA AND
MEXICO SITUATION, WHERE WE ARE
WAITING ON A VOTE FOR THIS, TO
GO INTO LAW, WHAT IS YOUR
REACTION TO THAT?
AND HOW WILL THAT IMPACT
BUSINESS?
>> IS IT A THAT IS, OF COURSE,
WE WELCOME THE DECISION,
BECAUSE EVERY TIME THAT WE
HAVE TARIFFS AND COSTS THAT
IMPACT THE FINAL PRODUCT IN A
WAY AND OTHER CONSUMERS AND
THING EXTRA COST FOR THAT FOR
COMPANIES LOSE A LITTLE BIT OF
THEIR ECONOMICS OF SCALE AND
PRODUCTIVITY, AS THINGS SETTLE
THAT IS GOING TO BE GREAT, OF
COURSE, WHAT WE ARE LOOKING
FORWARD AND TRYING TO SEE REAL
IMPACT GOING TO BE IN MIDWEST
PROOM THAT WAS A REAL FACT
MIDWEST HE PREMIUM UP BIG TIME
LAST TWO YEARS, NOW EVERYBODY
LOOKING FORWARD EXPECTING THAT
THESE WILL AFFECT PRICES.
>> MUCH OF IMPACT HAVE YOU
SEEN, AT THE COMPANY, AS A
RESULT OF THE TARIFFS?
>> WHETHER IT IS CHINA, OR
EVEN -- WE HAD TARIFFS ON
ALUMINUM AND STEEL UNTIL THEY
WERE LIFTED A FEW DAYS AGO IN
MEXICO AND CANADA.
>> YEAH.
THERE IS A LOT OF NUMBERS OUT
THERE.
BUT PEOPLE TALK ABOUT THE
IMPACT ON THAT BEING BETWEEN
FEW CENTS TO 10 CENTS.
BECAUSE YOU HAVE COSTS OVER
COSTS.
>> IS THERE ALUMINUM CANS.
>> EXACTLY, EXACTLY, ALL CANS,
FOR LOCAL PRODUCED VERY
INTERESTING THE BACK IS ONLY
WHEN YOU ARE PRODUCING IN
U.S..
THAT IS WHY, OF COURSE, THE
THAT IS ALL THIS -- THIS TALK
AROUND HOW IMPORTANT IT IS TO
APPLY -- THE RIGHT THING TO BE
DONE THE COMPANY ITSELF WILL
KEEP FINDING WAYS TO MITIGATE
THIS IMPACT TRYING NOT TO
CARRIER THIS OTHER TO
CONSUMERS BUT THINGS HAPPEN IN
MEXICO AND CANADA ALREADY VERY
GOOD THING FOR US.
>> SO YOU HAD NORMS PRICING
POWER, YOU HAVE BEEN ABLE TO
HAVE PRICING POWER YOU'VE GOT
ABOUT TERRIFIC MARGINS ARE YOU
EXPECTING TO RAISE PRICES
AGAIN AS A RESULT OF THE
TARIFFS?
>> I THINK THAT -- BRANDS THEY
MIGHT HAVE SOME POWER TO
COMMAND PRICES WE DIDN'T FREES
OUR PRICES BASED ON ON TARIFFS
WE HAVE VERY STABLE
ENVIRONMENT IN TERMS OF PRICE
WHAT IT COSTS NOT ONLY THE
TARIFFS IT IS ALUMINUM THERE
IS A LOT OF PRESSURE COMING
FROM COMMODITIES THERE IS
INFLATION IN COMMUNITY, SO ALL
THE PRICES ARE MOVING
ACCORDING TO INFLATION ON
LONG-TERM --
>> SO COME BACK TO THE U.S.
YOU ARE RUNNING ENORMOUS
BUSINESS, TELL ME ABOUT THE
BACKDROP, WE TALK EVERY DAY,
ABOUT THE STRENGTH OF THE
ECONOMY, WE HAD ONE PERCENT IN
FIRST QUARTER RATHER 3.2%
GROWTH.
IS THAT THE HE SUSTAINABLE THE
REST OF THE YEAR ARE WHAT ARE
YOU SEEING IN TERMS OF
CONSUMER SPENDING HABITATS,
AND BROAD ECONOMY.
>> YEAH, THAT IS INTERESTING,
BECAUSE IT IS ONE OF THE FIRST
TIME THAT WE SEE CONSUMER
POWER AND GROWTH COMING TO THE
ECONOMY, BUT TRANSLATION NOT
IMPACTING IN A VERY STRONG WAY
EVERYTHING THAT IS CBG, AND
GOODS PEOPLE BUY EVERY DAY SO
THERE IS TAILWINDS PUSHING THE
ECONOMY.
WE SEE IN SOME POCKETS THERE
IS GROWTH ACCELERATING IN SOME
OTHER POCKETS BECAUSE U.S. TOO
BIG FOR US TO SEE AS AVERAGE
YOU SEE REGIONS MARKET NOT
MOVING OF A FAST WHICH YOU
THINK ABOUT BEER, BEER OVERALL
HAS BEEN STABLE TO SMALL
GROWTH IN REVENUES, AND WE
THINK THAT THIS WILL CONTINUE
TO HAPPEN BECAUSE ON TOP OF
THE ECONOMY, WE HAVE ALSO VERY
STRONG FOR PREMIZATION.
>> TELL ME ABOUT GROWTH
INDUSTRY CHANGING YOU HAD
INVESTMENTS IN UPSCALE
PRODUCTS, EVEN HEALTH AND
WELLNESS.
YOU'VE GROWN SO MUCH, IN THE
LAST FIVE, 10 YEARS, WHERE
DOES THE GROWTHS COME FROM, AT
THIS POINT IN THE NEXT 10
YEARS FOR ANHEUSER US ABOU
YEARS FOR ANHEUSER BH ABOU
YEARS FOR ANHEUSER BHI.BOU
YEARS FOR ANHEUSER BHI. OU
YEARS FOR ANHEUSER BHI. USCH.
>> WE LOOK TO MEGATRENDS THREE
THAT WE ARE EXITED ABOUT WE
THINK THAT WE CAN PLAY A VERY
IMPORTANT ROLE, ONE IS
PREMIUMIZATION, SO BEER
COMPARE WITH CATEGORIES, HAS
VERY LOW PREMIUMIZATION, TODAY
CONSUMERS ARE LOOKING FOR
DIFFERENT EXPERIENCES,
DIFFERENT PRODUCTS, AND THEY
LOVE O INNOVATION, THERE IS
INNOVATEING MORE THAN EVER
BEFORE VERY POSTURE ROLE FOR
US IN TERMS OF GROWTH THE
SECOND IS IDEA OF
HEALTH-CONSCIOUS CONSUMERS,
AND PRODUCTS THAT CAN FIT THE
LIFESTYLE SO WHEN YOU THINK
ABOUT THE SUCCESS OF MICHELOB
-- LOW CARBS FOR POSITION THIS
IS FEW THAT WE CONTINUE TO
EXPLORE WE BELIEVE THERE IS A
LOT TO COME FROM THAT, THE
THIRD POINT BRANDS, SO BEEN
DOING A LOT OF INITIATIVES
BRANDS FOR EXAMPLE STELLAR,
ALL THE SUPPORT, FOR THE WATER
AND THE WATER IN AFRICA
EMERGING COUNTRIES, SO AS YOU
BUY STELLA YOU ARE MAKING A