AB InBev’s European business saw a low-single digit decline in revenues as a result of Covid-19 restrictions.

The Stella Artois, Budweiser and Corona brewer’s own beer volumes were flat year-over-year, with double-digit growth in the off-trade.

Revenue per hectolitre declined by low single digits, despite an outperformance from its premium brands.

EBITDA declined by double-digits as a result of the top-line decline and channel mix, as the on-premise channel carries considerably higher margins in continental Europe.

Strong performances were seen in the UK, Belgium, Italy and France, led by Budweiser.

Globally, total volumes at the beer group were up 13.3%, while underlying profit was $1bn (£719m).

Chief executive Carlos Brito announced he would be stepping down from AB InBev after 32 years, effective July 1, with Michel Doukeris to succeed him as AB InBev’s next CEO.

Paula Lindenberg, UK & Ireland president of subsidiary Budweiser Brewing Group said its core brands, as well as Camden Hells, had performed well in the off-trade.

As the hospitality sector readied to re-open, Stella Artois launched Stella Tips, a campaign which sees the brand add £1 to staff’s tips for every pint of Stella Artois sold in participating pubs and restaurants across the UK.

Lindenberg said: “We are committed to driving the recovery of the hospitality sector throughout this period and beyond.”

In March, Budweiser e announced a £115m investment in its two major UK breweries in South Wales and Lancashire.