Ambev releases results for the third quarter of 2023

Ambev, a Brazilian beverage manufacturer, released its commercial results for the third quarter of 2023. The months of July, August and September brought growth and greater profitability for the company. Compared to the third quarter of the previous year, the company’s profit grew by 25%. Net revenue, in turn, 19.3%. Regarding the reduction of scope 3 emissions – those for which the company is directly responsible –, the company invests in decarbonization through the Eclipse Supplier Leadership Program.

“The third quarter of 2023 was another quarter of growth and profitability thanks to the consistent execution of our strategy, with positive performance in net revenue and operational leverage”, says Jean Jereissati, executive director of Ambev.

Total organic volume fell by 2%, driven mainly by the performance of South America (-9.4%) and Canada (-13.1%). Brazil, in turn, presented stability. EBITDA – Earnings before interest, taxes, depreciation and amortization – grew by 93.9% in South America, 62.3% in the Caribbean, 34.7% in Brazilian beers, 34.7% in Canada and 0 .9% in non-alcoholic drinks in Brazil. With the increase in EBTIDA, adjusted profit for the quarter closed at around R$4 million, compared to R$3.2 million in the third quarter of 2022.

Still due to the EBTIDA performance, Ambev’s third quarter 2023 results showed an increase of 29.7% in cash flow from operating activities, with a total of R$7.9 million, compared to R$6 million in same period in 2022.