By Dhirendra Tripathi

Investing.com – Anheuser-Busch InBev (BR:) stock traded 0.4% higher in Brussels Thursday after the world’s largest brewer forecast bigger profits in 2022, in line with its medium-term growth range.

Earnings before interest, taxes, depreciation, and amortization is expected to rise 4-8% this year and annual revenue should expand by a higher percentage due to a “healthy combination of volume and price,” the maker of Hoegaarden and Leffe beers said while disclosing its fourth quarter results.

The outlook of the company did not include inflation. This compares with rival Heineken’s (AS:) February 16 warning about a significant impact due to inflation and supply chain pressures.

Volumes grew both in the beer and non beer sectors, so higher prices weren’t a deterrent. As economies opened up, the fourth quarter’s volume jumped to over 12% and reached $14 billion.

AB InBev reported that the global revenue from its brands Budweiser and Stella Artois grew by more than 23% in fourth quarter outside their home markets, thanks to the premium prices they have there.

AB InBev’s ‘Beyond Beer’ business grew by over 20%, contributing $1.6 billion to annual revenue of over $54 billion. The year’s revenue grew by nearly 16%.

Fourth quarter EBITDA increased by 5% to $4.88Bn, according to the company.

As sales, selling and general expenses increased at a quicker pace than revenue, the underlying profit dropped 8% to $1.48billion. The underlying profit for the entire year was $5.8billion, an increase of 15%