Ambev Posts 2Q Net Profit of BRL3.1 Billion as Drinkers Returned to Bars, Restaurants
28 Luglio 2022 - 1:40PM
Dow Jones News
By Jeffrey T. Lewis
SAO PAULO--Ambev SA said Thursday its profit increased in the
second quarter, as sales volumes rose with more people drinking
outside the home, especially in Brazil.
The Sao Paulo-based beer brewer's net income increased to 3.1
billion reais, equivalent to $591 million, from BRL2.9 billion a
year earlier. Net revenue reached BRL18 billion from BRL15.7
billion, and adjusted earnings before interest, taxes, depreciation
and amortization rose to BRL5.5 billion from BRL5.3 billion.
The volume of sales rose to 42.2 million hectoliters, a record
for the second quarter, from 39.8 million a year earlier, Ambev
said.
Revenue rose at a faster pace than sales volumes as the company
continued to boost sales of premium products, though the cost of
goods sold also rose quickly because of higher commodities prices,
the company said.
Ambev is controlled by Anheuser-Busch InBev SA, the world's
biggest beer producer, and brews and markets brands including
Budweiser, Brahma and Corona. Brazil is Ambev's biggest market, but
the company also operates in other countries in the Americas
including Canada, Argentina and Chile.
Write to Jeffrey T. Lewis at jeffrey.lewis@wsj.com
(END) Dow Jones Newswires
July 28, 2022 07:25 ET (11:25 GMT)
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