Q4 2025 Ambev SA Earnings Call (Portuguese) Transcript
Key Points
- Ambev SA (ABEV) achieved a consolidated normalized EBITDA margin expansion of 50 basis points, reaching 33.4%, driven by net revenue per hectoliter growth and operational efficiencies.
- The company reported a significant increase in shareholder returns, distributing approximately 20 billion reais in 2025, the highest in its history.
- Ambev SA (ABEV) experienced growth in premium and super-premium beer volumes, closing the year as leaders in these segments.
- The company's digital ecosystem, including B2B and consumer platforms, showed strong performance, with B2B marketplace GMV growing 70% and consumer delivery GMV up 13%.
- Ambev SA (ABEV) maintained a disciplined approach to resource allocation, resulting in improved profitability and margin expansion across multiple business units.
- Volumes were pressured by the environment, with unfavorable weather conditions impacting beer consumption, particularly in Brazil.
- The core beer segment faced softness due to its higher reliance on out-of-home socialization, which was affected by weather-related disruptions.
- In Argentina, the consumption recovery took longer than expected, weighing on results despite an improving macroeconomic environment.
- The company faced cost pressures from commodities, particularly aluminum, which are expected to continue into 2026.
- Ambev SA (ABEV) experienced a decrease in cash flow from operating activities, totaling 24.5 billion reais, 1.6 billion reais lower than the previous year, due to softer volumes impacting working capital.
Good afternoon and thank you for waiting. We would like to welcome everyone to ABev's 2025 4th quarter and full year results conference call. Today with us, we have Mr. Carlos Isboa, ABev CEO, and Mr. Guilleme Fludi, CFO and investor relations officer. As a reminder, this conference presentation is available for download on our website, IR. Ambev.com.pr, as well as do the webcast link.
We would like to inform you that this event is being recorded and all participants will be in listen-only mode during the company's presentation. After MBev's remarks are completed, there will be a Q&A section during which we kindly ask that each participant cell site analyst ask only one question.
Before proceeding, let me mention that forward-looking statements are being made under the Safe harbor of the Securities Litigation Reform Act of 1,996. Forward-looking statements are based on the beliefs and assumptions of A Bev's management and on information currently available to the company. They involve risks, uncertainties, and assumptions because they relate to future events and therefore depends on
| Access to All Earning Calls and Stock Analysis | |
| 30-Year Financial on one screen | |
| All-in-one Stock Screener with unlimited filters | |
| Customizable Stock Dashboard | |
| Real Time Insider Trading Transactions | |
| 8,000+ Institutional investors’ 13F holdings | |
| Powerful Excel Add-in and Google sheets Add-on | |
| All data downloadable | |
| Quick customer support | |
| And much more... |
Trustpilot
We'd love to learn more about your experiences on GuruFocus.com and how we can improve!
Take Survey
