The largest brewery in Latin America, Ambev, had a net profit of approximately R$ 5 billion in the fourth quarter of 2022, up 35.7% compared to the same period of the previous year, driven by growth in volumes sold in Brazil while in other regions, the company suffered a setback.
The company projected for this year a growth of between 6% and 9.9% in the cost per hectoliter of products sold in the beer operations in Brazil, a slowdown compared to the 19% growth recorded in 2022, according to the balance sheet released in the early hours of this Thursday- fair (2).
“We expect our revenue growth to be more driven by the performance of net revenue per hectoliter than by volume”, said Ambev in the balance sheet.
Cash generation measured by adjusted earnings before interest, taxes, depreciation and amortization (Ebitda) advanced 4.8% over the fourth quarter of 2021, to 7.1 billion reais, with the margin going from 30.8% to 31.3%.
In 2022, the organic growth of adjusted Ebitda was 17.1% and the company stated that it intends to surpass this performance in 2023.
Analysts, on average, expected profit of R$ 4.22 billion and Ebitda of R$ 6.77 billion for Ambev for the fourth quarter, according to data from Refinitiv.
The company sold 4% more beer in Brazil in the last three months of last year, focusing on premium brands in a period marked by events such as the World Cup.
While in markets in Central and South America and Canada, Ambev suffered falls of 13.4%, 1.6% and 5.4% respectively, pressured by competition, inflation and bad weather, according to the balance sheet.
In total, Ambev had a high of 1.5% in volumes sold in the fourth quarter, while net revenue advanced 3.1%, to R$ 22.7 billion. The market expected revenues of R$ 23.36 billion, according to Refinitiv.
The cost of goods sold per hectoliter of beer in Brazil, excluding depreciation and amortization, was R$ 186.1 in the fourth quarter, an annual increase of 18.3%.
Source: CNN Brasil
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