Anheuser-Busch InBev: Headwinds In Russia To Lower Europe Volumes

Although markets such as the U.K., Germany and Belgium are slowly recovering after the double dip recession, seeing how per capita consumption is already relatively high in Europe, growth in these markets for Anheuser could be limited. Europe forms less than 6% of Anheuser's valuation by our estimates, as we estimate sluggish beer performance in the continent going forward.