07/29/2021 | Press release | Distributed by Public on 07/29/2021 01:43
Financial highlights - Ambev consolidated | 2Q20 | 2Q21 | % As Reported | % Organic | YTD20 | YTD21 | % As Reported | % Organic |
R$ million | ||||||||
Volume ('000 hl) | 33,465.6 | 39,807.6 | 19.0% | 19.0% | 72,477.1 | 83,337.8 | 15.0% | 15.0% |
Net revenue | 11,615.3 | 15,711.1 | 35.3% | 36.2% | 24,217.9 | 32,350.9 | 33.6% | 32.5% |
Gross profit | 5,813.5 | 7,745.9 | 33.2% | 34.7% | 12,772.9 | 16,440.3 | 28.7% | 28.4% |
% Gross margin | 50.0% | 49.3% | -70 bps | -50 bps | 52.7% | 50.8% | -190 bps | -160 bps |
Normalized EBITDA | 3,348.3 | 5,289.2 | 58.0% | 24.0% | 7,580.8 | 10,616.4 | 40.0% | 24.8% |
% Normalized EBITDA margin | 28.8% | 33.7% | 490 bps | -260 bps | 31.3% | 32.8% | 150 bps | -180 bps |
Profit | 1,271.3 | 2,929.6 | 130.4% | 2,482.6 | 5,662.9 | 128.1% | ||
Normalized profit | 1,372.6 | 2,962.7 | 115.9% | 2,600.4 | 5,724.7 | 120.1% | ||
EPS (R$/shares) | 0.08 | 0.18 | 135.2% | 0.15 | 0.35 | 137.6% | ||
Normalized EPS (R$/shares) | 0.08 | 0.19 | 119.8% | 0.15 | 0.35 | 128.8% |
Brazil | 2Q20 | IN | OUT | EXT | Scope | Currency Translation | Organic Growth | 2Q21 | % As Reported | % Organic |
R$ million | ||||||||||
Volume ('000 hl) | 23,103.2 | - 0 | - 0 | - 0 | 3,616.3 | 26,719.4 | 15.7% | 15.7% | ||
IL-010 | Net revenue | 5,854.7 | - 0 | - 0 | - 0 | 1,668.8 | 7,523.5 | 28.5% | 28.5% | |
Net revenue/hl (R$) | 253.4 | - 0 | - 0 | - 0 | 28.2 | 281.6 | 11.1% | 11.1% | ||
IL-030 | COGS | (2,981.3) | - 0 | - 0 | - 0 | (1,120.3) | (4,101.6) | 37.6% | 37.6% | |
COGS/hl (R$) | (129.0) | - 0 | - 0 | - 0 | (24.5) | (153.5) | 19.0% | 19.0% | ||
COGS excl. deprec. & amort. | (2,583.7) | - 0 | - 0 | - 0 | (1,100.6) | (3,684.3) | 42.6% | 42.6% | ||
COGS/hl excl. deprec. & amort. (R$) | (111.8) | - 0 | - 0 | - 0 | (26.1) | (137.9) | 23.3% | 23.3% | ||
IL-040 | Gross profit | 2,873.4 | - 0 | - 0 | - 0 | 548.5 | 3,421.9 | 19.1% | 19.1% | |
% Gross margin | 49.1% | 45.5% | -360 bps | -360 bps | ||||||
SG&A excl. deprec. & amort. | (1,684.4) | - 0 | - 0 | - 0 | (775.2) | (2,459.6) | 46.0% | 46.0% | ||
IM-105 | ..Deprec. & impairm. tangible - logistics | (132.7) | - 0 | - 0 | - 0 | (51.8) | (184.5) | 39.1% | 39.1% | |
IM-107 | ..Amort & impairm. intangible - logistics | (2.5) | - 0 | - 0 | - 0 | 0.2 | (2.3) | -6.9% | -6.9% | |
IM-109 | ..Deprec. & impairm. tangible - commercial | (68.2) | - 0 | - 0 | - 0 | 8.5 | (59.7) | -12.5% | -12.5% | |
IM-111 | ..Amort & impairm. intangible - commercial | (60.6) | - 0 | - 0 | - 0 | 46.1 | (14.6) | -76.0% | -76.0% | |
IM-113 | ..Deprec. & impairm. tangible - administrative | (35.5) | - 0 | - 0 | - 0 | 66.3 | 30.8 | -186.6% | -186.6% | |
IM-115 | ..Amort & impairm. intangible - administrative | (34.8) | - 0 | - 0 | - 0 | (9.1) | (43.9) | 26.2% | 26.2% | |
IM-578-V2 | Deprec & impairm right-of-use assets commercial | (7.3) | - 0 | - 0 | - 0 | (27.1) | (34.4) | nm | nm | |
SG&A deprec. & amort. | (341.6) | - 0 | - 0 | - 0 | 33.0 | (308.6) | -9.7% | -9.7% | ||
IL-060 | Distribution expenses | (931.4) | - 0 | - 0 | - 0 | (330.3) | (1,261.7) | 35.5% | 35.5% | |
IL-070 | Sales expenses | (540.6) | - 0 | - 0 | - 0 | 32.4 | (508.2) | -6.0% | -6.0% | |
IL-080 | Marketing expenses | (175.5) | - 0 | - 0 | - 0 | (162.4) | (338.0) | 92.5% | 92.5% | |
IL-100 | Administrative expenses | (378.5) | - 0 | - 0 | - 0 | (281.9) | (660.4) | 74.5% | 74.5% | |
SG&A total | (2,026.1) | - 0 | - 0 | - 0 | (742.2) | (2,768.2) | 36.6% | 36.6% | ||
IM-120 | Other operating income/(expenses) | 140.9 | - 0 | - 0 | 1,219.2 | 1,219.2 | 29.9 | 1,389.9 | nm | 21.2% |
Non-recurring items above EBIT | (35.9) | - 0 | - 0 | - 0 | - 0 | (6.4) | (42.3) | 17.8% | 17.8% | |
EBIT | 952.3 | - 0 | - 0 | 1,219.2 | 1,219.2 | (170.2) | 2,001.3 | 110.1% | -17.9% | |
EBIT Margin | 16.3% | 0.0% | 0.0% | 0.0% | 0.0% | 26.6% | 1030 bps | -590 bps | ||
Normalized EBIT | 988.2 | - 0 | - 0 | 1,219.2 | 1,219.2 | (163.8) | 2,043.6 | 106.8% | -16.6% | |
% Normalized EBIT margin | 16.9% | 27.2% | 1030 bps | -590 bps | ||||||
IM-101 | ..Deprec. & impairm. tangible - prod & pack. | (397.5) | - 0 | - 0 | - 0 | - 0 | (19.5) | (417.0) | 4.9% | 4.9% |
IM-103 | ..Amort & impairm. intangible - prod & pack | (0.1) | - 0 | - 0 | - 0 | - 0 | (0.2) | (0.3) | nm | nm |
IM-129 | Impairment of goodwill | - 0 | - 0 | - 0 | - 0 | - 0 | - 0 | - 0 | 0.0% | 0.0% |
EBITDA | 1,691.6 | - 0 | - 0 | 1,219.2 | 1,219.2 | (183.5) | 2,727.2 | 61.2% | -10.9% | |
EBITDA Margin | 28.9% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 36.2% | 730 bps | -890 bps | |
IM-095-V2 | Non-recurring items above EBITDA | (35.9) | - 0 | - 0 | - 0 | - 0 | 12.6 | (23.3) | -35.1% | -35.1% |
Normalized EBITDA | 1,727.5 | - 0 | - 0 | 1,219.2 | 1,219.2 | (177.1) | 2,769.5 | 60.3% | -10.3% | |
% Normalized EBITDA margin | 29.5% | 36.8% | 730 bps | -890 bps | ||||||
Brazil | YTD20 | IN | OUT | EXT | Scope | Currency Translation | Organic Growth | YTD21 | % As Reported | % Organic |
R$ million | ||||||||||
Volume ('000 hl) | 48,114.6 | - 0 | - 0 | - 0 | 6,635.8 | 54,750.4 | 13.8% | 13.8% | ||
IL-010 | Net revenue | 12,379.8 | - 0 | - 0 | - 0 | 3,368.9 | 15,748.7 | 27.2% | 27.2% | |
Net revenue/hl (R$) | 257.3 | - 0 | - 0 | - 0 | 30.3 | 287.6 | 11.8% | 11.8% | ||
IL-030 | COGS | (5,931.3) | - 0 | - 0 | - 0 | (2,151.7) | (8,083.1) | 36.3% | 36.3% | |
COGS/hl (R$) | (123.3) | - 0 | - 0 | - 0 | (24.4) | (147.6) | 19.8% | 19.8% | ||
COGS excl. deprec. & amort. | (5,186.7) | - 0 | - 0 | - 0 | (2,095.5) | (7,282.2) | 40.4% | 40.4% | ||
COGS/hl excl. deprec. & amort. (R$) | (107.8) | - 0 | - 0 | - 0 | (25.2) | (133.0) | 23.4% | 23.4% | ||
IL-040 | Gross profit | 6,448.5 | - 0 | - 0 | - 0 | 1,217.2 | 7,665.7 | 18.9% | 18.9% | |
% Gross margin | 52.1% | 48.7% | -340 bps | -340 bps | ||||||
SG&A excl. deprec. & amort. | (3,590.9) | - 0 | - 0 | - 0 | (1,128.7) | (4,719.6) | 31.4% | 31.4% | ||
IM-105 | ..Deprec. & impairm. tangible - logistics | (273.5) | - 0 | - 0 | - 0 | 47.6 | (225.9) | -17.4% | -17.4% | |
IM-107 | ..Amort & impairm. intangible - logistics | (4.9) | - 0 | - 0 | - 0 | 0.1 | (4.8) | -1.9% | -1.9% | |
IM-109 | ..Deprec. & impairm. tangible - commercial | (135.2) | - 0 | - 0 | - 0 | 14.1 | (121.2) | -10.4% | -10.4% | |
IM-111 | ..Amort & impairm. intangible - commercial | (121.6) | - 0 | - 0 | - 0 | 92.4 | (29.1) | -76.0% | -76.0% | |
IM-113 | ..Deprec. & impairm. tangible - administrative | (68.2) | - 0 | - 0 | - 0 | (11.3) | (79.6) | 16.6% | 16.6% | |
IM-115 | ..Amort & impairm. intangible - administrative | (70.5) | - 0 | - 0 | - 0 | (16.6) | (87.1) | 23.5% | 23.5% | |
IM-578-V2 | Deprec & impairm right-of-use assets commercial | (13.4) | - 0 | - 0 | - 0 | (55.5) | (68.8) | nm | nm | |
SG&A deprec. & amort. | (687.4) | - 0 | - 0 | - 0 | 70.8 | (616.6) | -10.3% | -10.3% | ||
IL-060 | Distribution expenses | (1,949.4) | - 0 | - 0 | - 0 | (381.4) | (2,330.8) | 19.6% | 19.6% | |
IL-070 | Sales expenses | (1,087.1) | - 0 | - 0 | - 0 | 78.3 | (1,008.9) | -7.2% | -7.2% | |
IL-080 | Marketing expenses | (456.6) | - 0 | - 0 | - 0 | (90.1) | (546.7) | 19.7% | 19.7% | |
IL-100 | Administrative expenses | (785.1) | - 0 | - 0 | - 0 | (664.6) | (1,449.8) | 84.7% | 84.7% | |
SG&A total | (4,278.3) | - 0 | - 0 | - 0 | (1,057.8) | (5,336.1) | 24.7% | 24.7% | ||
IM-120 | Other operating income/(expenses) | 303.4 | - 0 | - 0 | 1,219.2 | 1,219.2 | 59.0 | 1,581.5 | nm | 19.4% |
Non-recurring items above EBIT | (48.3) | - 0 | - 0 | - 0 | - 0 | (12.8) | (61.0) | 26.4% | 26.4% | |
EBIT | 2,425.3 | - 0 | - 0 | 1,219.2 | 1,219.2 | 205.6 | 3,850.0 | 58.7% | 8.5% | |
EBIT Margin | 19.6% | 24.4% | 480 bps | -290 bps | ||||||
Normalized EBIT | 2,473.5 | - 0 | - 0 | 1,219.2 | 1,219.2 | 218.4 | 3,911.1 | 58.1% | 8.8% | |
% Normalized EBIT margin | 20.0% | 24.8% | 480 bps | -290 bps | ||||||
IM-101 | ..Deprec. & impairm. tangible - prod & pack. | (744.5) | - 0 | - 0 | - 0 | - 0 | (55.8) | (800.3) | 7.5% | 7.5% |
IM-103 | ..Amort & impairm. intangible - prod & pack | (0.1) | - 0 | - 0 | - 0 | - 0 | (0.5) | (0.6) | nm | nm |
IM-129 | Impairment of goodwill | - 0 | - 0 | - 0 | - 0 | - 0 | - 0 | - 0 | 0.0% | 0.0% |
EBITDA | 3,857.2 | - 0 | - 0 | 1,219.2 | 1,219.2 | 191.1 | 5,267.4 | 36.6% | 5.0% | |
EBITDA Margin | 31.2% | 33.4% | 220 bps | -550 bps | ||||||
IM-095-V2 | Non-recurring items above EBITDA | (48.3) | - 0 | - 0 | - 0 | - 0 | 21.5 | (26.8) | -44.5% | -44.5% |
Normalized EBITDA | 3,905.5 | - 0 | - 0 | 1,219.2 | 1,219.2 | 203.8 | 5,328.5 | 36.4% | 5.2% | |
% Normalized EBITDA margin | 31.5% | 33.8% | 230 bps | -540 bps | ||||||
Beer Brazil | 2Q20 | IN | OUT | EXT | Scope | Currency Translation | Organic Growth | 2Q21 | % As Reported | % Organic |
R$ million | ||||||||||
Volume ('000 hl) | 17,951.6 | - 0 | - 0 | - 0 | 2,274.0 | 20,225.6 | 12.7% | 12.7% | ||
IL-010 | Net revenue | 5,128.6 | - 0 | - 0 | - 0 | 1,320.7 | 6,449.3 | 25.8% | 25.8% | |
Net revenue/hl (R$) | 285.7 | - 0 | - 0 | - 0 | 33.2 | 318.9 | 11.6% | 11.6% | ||
IL-030 | COGS | (2,573.6) | - 0 | - 0 | - 0 | (869.9) | (3,443.6) | 33.8% | 33.8% | |
COGS/hl (R$) | (143.4) | - 0 | - 0 | - 0 | (26.9) | (170.3) | 18.8% | 18.8% | ||
COGS excl. deprec. & amort. | (2,226.7) | - 0 | - 0 | - 0 | (852.7) | (3,079.5) | 38.3% | 38.3% | ||
COGS/hl excl. deprec. & amort. (R$) | (124.0) | - 0 | - 0 | - 0 | (28.2) | (152.3) | 22.7% | 22.7% | ||
IL-040 | Gross profit | 2,555.0 | - 0 | - 0 | - 0 | 450.7 | 3,005.7 | 17.6% | 17.6% | |
% Gross margin | 49.8% | 46.6% | -320 bps | -320 bps | ||||||
SG&A excl. deprec. & amort. | (1,420.5) | - 0 | - 0 | - 0 | (697.3) | (2,117.8) | 49.1% | 49.1% | ||
IM-105 | ..Deprec. & impairm. tangible - logistics | (110.2) | - 0 | - 0 | - 0 | (48.9) | (159.1) | 44.3% | 44.3% | |
IM-107 | ..Amort & impairm. intangible - logistics | (2.1) | - 0 | - 0 | - 0 | 0.1 | (2.0) | -6.8% | -6.8% | |
IM-109 | ..Deprec. & impairm. tangible - commercial | (65.8) | - 0 | - 0 | - 0 | 8.0 | (57.8) | -12.1% | -12.1% | |
IM-111 | ..Amort & impairm. intangible - commercial | (60.6) | - 0 | - 0 | - 0 | 46.1 | (14.6) | -76.0% | -76.0% | |
IM-113 | ..Deprec. & impairm. tangible - administrative | (31.4) | - 0 | - 0 | - 0 | 52.2 | 20.8 | -166.5% | -166.5% | |
IM-115 | ..Amort & impairm. intangible - administrative | (29.0) | - 0 | - 0 | - 0 | (8.1) | (37.1) | 27.9% | 27.9% | |
IM-578-V2 | Deprec & impairm right-of-use assets commercial | (6.2) | - 0 | - 0 | - 0 | (24.7) | (30.8) | nm | nm | |
SG&A deprec. & amort. | (305.3) | - 0 | - 0 | - 0 | 24.8 | (280.6) | -8.1% | -8.1% | ||
IL-060 | Distribution expenses | (782.2) | - 0 | - 0 | - 0 | (272.2) | (1,054.4) | 34.8% | 34.8% | |
IL-070 | Sales expenses | (487.0) | - 0 | - 0 | - 0 | 26.6 | (460.5) | -5.5% | -5.5% | |
IL-080 | Marketing expenses | (141.3) | - 0 | - 0 | - 0 | (164.9) | (306.2) | 116.7% | 116.7% | |
IL-100 | Administrative expenses | (315.3) | - 0 | - 0 | - 0 | (262.0) | (577.3) | 83.1% | 83.1% | |
SG&A total | (1,725.8) | - 0 | - 0 | - 0 | (672.5) | (2,398.4) | 39.0% | 39.0% | ||
IM-120 | Other operating income/(expenses) | 117.2 | - 0 | - 0 | 1,048.5 | 1,048.5 | 24.0 | 1,189.6 | nm | 20.5% |
Non-recurring items above EBIT | (35.9) | - 0 | - 0 | - 0 | - 0 | (6.1) | (42.0) | 17.1% | 17.1% | |
EBIT | 910.4 | - 0 | - 0 | 1,048.5 | 1,048.5 | (204.0) | 1,754.9 | 92.8% | -22.4% | |
EBIT Margin | 17.8% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 27.2% | 940 bps | -680 bps | |
Normalized EBIT | 946.3 | - 0 | - 0 | 1,048.5 | 1,048.5 | (197.8) | 1,797.0 | 89.9% | -20.9% | |
% Normalized EBIT margin | 18.5% | 27.9% | 940 bps | -690 bps | ||||||
IM-101 | ..Deprec. & impairm. tangible - prod & pack. | (346.8) | - 0 | - 0 | - 0 | - 0 | (17.0) | (363.8) | 4.9% | 4.9% |
IM-103 | ..Amort & impairm. intangible - prod & pack | (0.1) | - 0 | - 0 | - 0 | - 0 | (0.2) | (0.3) | nm | nm |
IM-129 | Impairment of goodwill | - 0 | - 0 | - 0 | - 0 | - 0 | - 0 | - 0 | 0.0% | 0.0% |
EBITDA | 1,562.6 | - 0 | - 0 | 1,048.5 | 1,048.5 | (211.5) | 2,399.6 | 53.6% | -13.5% | |
EBITDA Margin | 30.5% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 37.2% | 670 bps | -960 bps | |
IM-095-V2 | Non-recurring items above EBITDA | (35.9) | - 0 | - 0 | - 0 | - 0 | 12.6 | (23.3) | -35.2% | -35.2% |
Normalized EBITDA | 1,598.5 | - 0 | - 0 | 1,048.5 | 1,048.5 | (205.4) | 2,441.6 | 52.7% | -12.8% | |
% Normalized EBITDA margin | 31.2% | 37.9% | 670 bps | -960 bps | ||||||
Beer Brazil | YTD20 | IN | OUT | EXT | Scope | Currency Translation | Organic Growth | YTD21 | % As Reported | % Organic |
R$ million | ||||||||||
Volume ('000 hl) | 36,533.1 | - 0 | - 0 | - 0 | 5,240.9 | 41,774.0 | 14.3% | 14.3% | ||
IL-010 | Net revenue | 10,583.2 | - 0 | - 0 | - 0 | 2,990.9 | 13,574.1 | 28.3% | 28.3% | |
Net revenue/hl (R$) | 289.7 | - 0 | - 0 | - 0 | 35.3 | 324.9 | 12.2% | 12.2% | ||
IL-030 | COGS | (4,975.0) | - 0 | - 0 | - 0 | (1,870.1) | (6,845.1) | 37.6% | 37.6% | |
COGS/hl (R$) | (136.2) | - 0 | - 0 | - 0 | (27.7) | (163.9) | 20.3% | 20.3% | ||
COGS excl. deprec. & amort. | (4,328.2) | - 0 | - 0 | - 0 | (1,816.8) | (6,145.0) | 42.0% | 42.0% | ||
COGS/hl excl. deprec. & amort. (R$) | (118.5) | - 0 | - 0 | - 0 | (28.6) | (147.1) | 24.2% | 24.2% | ||
IL-040 | Gross profit | 5,608.2 | - 0 | - 0 | - 0 | 1,120.8 | 6,729.0 | 20.0% | 20.0% | |
% Gross margin | 53.0% | 49.6% | -340 bps | -340 bps | ||||||
SG&A excl. deprec. & amort. | (3,038.3) | - 0 | - 0 | - 0 | (1,027.1) | (4,065.4) | 33.8% | 33.8% | ||
IM-105 | ..Deprec. & impairm. tangible - logistics | (221.8) | - 0 | - 0 | - 0 | 28.6 | (193.1) | -12.9% | -12.9% | |
IM-107 | ..Amort & impairm. intangible - logistics | (4.2) | - 0 | - 0 | - 0 | 0.1 | (4.1) | -1.9% | -1.9% | |
IM-109 | ..Deprec. & impairm. tangible - commercial | (130.2) | - 0 | - 0 | - 0 | 12.8 | (117.4) | -9.8% | -9.8% | |
IM-111 | ..Amort & impairm. intangible - commercial | (121.6) | - 0 | - 0 | - 0 | 92.4 | (29.1) | -76.0% | -76.0% | |
IM-113 | ..Deprec. & impairm. tangible - administrative | (60.2) | - 0 | - 0 | - 0 | (9.8) | (70.0) | 16.3% | 16.3% | |
IM-115 | ..Amort & impairm. intangible - administrative | (58.6) | - 0 | - 0 | - 0 | (14.9) | (73.5) | 25.3% | 25.3% | |
IM-578-V2 | Deprec & impairm right-of-use assets commercial | (11.1) | - 0 | - 0 | - 0 | (47.4) | (58.5) | nm | nm | |
SG&A deprec. & amort. | (607.7) | - 0 | - 0 | - 0 | 61.9 | (545.8) | -10.2% | -10.2% | ||
IL-060 | Distribution expenses | (1,607.0) | - 0 | - 0 | - 0 | (339.1) | (1,946.1) | 21.1% | 21.1% | |
IL-070 | Sales expenses | (971.7) | - 0 | - 0 | - 0 | 54.2 | (917.6) | -5.6% | -5.6% | |
IL-080 | Marketing expenses | (403.9) | - 0 | - 0 | - 0 | (86.5) | (490.4) | 21.4% | 21.4% | |
IL-100 | Administrative expenses | (663.3) | - 0 | - 0 | - 0 | (593.8) | (1,257.1) | 89.5% | 89.5% | |
SG&A total | (3,646.0) | - 0 | - 0 | - 0 | (965.2) | (4,611.2) | 26.5% | 26.5% | ||
IM-120 | Other operating income/(expenses) | 248.0 | - 0 | - 0 | 1,048.5 | 1,048.5 | 45.4 | 1,341.9 | nm | 18.3% |
Non-recurring items above EBIT | (48.3) | - 0 | - 0 | - 0 | - 0 | (12.5) | (60.8) | 25.8% | 25.8% | |
EBIT | 2,162.0 | - 0 | - 0 | 1,048.5 | 1,048.5 | 188.5 | 3,398.9 | 57.2% | 8.7% | |
EBIT Margin | 20.4% | 25.0% | 460 bps | -310 bps | ||||||
Normalized EBIT | 2,210.3 | - 0 | - 0 | 1,048.5 | 1,048.5 | 200.9 | 3,459.7 | 56.5% | 9.1% | |
% Normalized EBIT margin | 20.9% | 25.5% | 460 bps | -310 bps | ||||||
IM-101 | ..Deprec. & impairm. tangible - prod & pack. | (646.7) | - 0 | - 0 | - 0 | - 0 | (52.8) | (699.5) | 8.2% | 8.2% |
IM-103 | ..Amort & impairm. intangible - prod & pack | (0.1) | - 0 | - 0 | - 0 | - 0 | (0.5) | (0.6) | nm | nm |
IM-129 | Impairment of goodwill | - 0 | - 0 | - 0 | - 0 | - 0 | - 0 | - 0 | 0.0% | 0.0% |
EBITDA | 3,416.5 | - 0 | - 0 | 1,048.5 | 1,048.5 | 179.8 | 4,644.8 | 36.0% | 5.3% | |
EBITDA Margin | 32.3% | 34.2% | 190 bps | -580 bps | ||||||
IM-095-V2 | Non-recurring items above EBITDA | (48.3) | - 0 | - 0 | - 0 | - 0 | 21.5 | (26.8) | -44.6% | -44.6% |
Normalized EBITDA | 3,464.8 | - 0 | - 0 | 1,048.5 | 1,048.5 | 192.3 | 4,705.5 | 35.8% | 5.5% | |
% Normalized EBITDA margin | 32.7% | 34.7% | 200 bps | -580 bps | ||||||
NAB Brazil | 2Q20 | IN | OUT | EXT | Scope | Currency Translation | Organic Growth | 2Q21 | % As Reported | % Organic |
R$ million | ||||||||||
Volume ('000 hl) | 5,151.6 | - 0 | - 0 | - 0 | 1,342.3 | 6,493.9 | 26.1% | 26.1% | ||
IL-010 | Net revenue | 726.1 | - 0 | - 0 | - 0 | 348.1 | 1,074.2 | 47.9% | 47.9% | |
Net revenue/hl (R$) | 140.9 | - 0 | - 0 | - 0 | 24.5 | 165.4 | 17.4% | 17.4% | ||
IL-030 | COGS | (407.6) | - 0 | - 0 | - 0 | (250.4) | (658.0) | 61.4% | 61.4% | |
COGS/hl (R$) | (79.1) | - 0 | - 0 | - 0 | (22.2) | (101.3) | 28.1% | 28.1% | ||
COGS excl. deprec. & amort. | (356.9) | - 0 | - 0 | - 0 | (247.9) | (604.8) | 69.4% | 69.4% | ||
COGS/hl excl. deprec. & amort. (R$) | (69.3) | - 0 | - 0 | - 0 | (23.8) | (93.1) | 34.4% | 34.4% | ||
IL-040 | Gross profit | 318.4 | - 0 | - 0 | - 0 | 97.7 | 416.2 | 30.7% | 30.7% | |
% Gross margin | 43.9% | 38.7% | -520 bps | -520 bps | ||||||
SG&A excl. deprec. & amort. | (263.9) | - 0 | - 0 | - 0 | (77.9) | (341.9) | 29.5% | 29.5% | ||
IM-105 | ..Deprec. & impairm. tangible - logistics | (22.4) | - 0 | - 0 | - 0 | (2.9) | (25.4) | 13.1% | 13.1% | |
IM-107 | ..Amort & impairm. intangible - logistics | (0.4) | - 0 | - 0 | - 0 | 0.0 | (0.4) | -7.2% | -7.2% | |
IM-109 | ..Deprec. & impairm. tangible - commercial | (2.4) | - 0 | - 0 | - 0 | 0.6 | (1.9) | -22.8% | -22.8% | |
IM-111 | ..Amort & impairm. intangible - commercial | - 0 | - 0 | - 0 | - 0 | - 0 | - 0 | 0.0% | 0.0% | |
IM-113 | ..Deprec. & impairm. tangible - administrative | (4.2) | - 0 | - 0 | - 0 | 14.1 | 9.9 | nm | nm | |
IM-115 | ..Amort & impairm. intangible - administrative | (5.8) | - 0 | - 0 | - 0 | (1.0) | (6.8) | 17.6% | 17.6% | |
IM-578-V2 | Deprec & impairm right-of-use assets commercial | (1.1) | - 0 | - 0 | - 0 | (2.4) | (3.5) | nm | nm | |
SG&A deprec. & amort. | (36.3) | - 0 | - 0 | - 0 | 8.3 | (28.0) | -22.8% | -22.8% | ||
IL-060 | Distribution expenses | (149.2) | - 0 | - 0 | - 0 | (58.0) | (207.3) | 38.9% | 38.9% | |
IL-070 | Sales expenses | (53.5) | - 0 | - 0 | - 0 | 5.8 | (47.7) | -10.9% | -10.9% | |
IL-080 | Marketing expenses | (34.2) | - 0 | - 0 | - 0 | 2.4 | (31.8) | -7.1% | -7.1% | |
IL-100 | Administrative expenses | (63.2) | - 0 | - 0 | - 0 | (19.9) | (83.1) | 31.4% | 31.4% | |
SG&A total | (300.2) | - 0 | - 0 | - 0 | (69.6) | (369.9) | 23.2% | 23.2% | ||
IM-120 | Other operating income/(expenses) | 23.7 | - 0 | - 0 | 170.7 | 170.7 | 5.9 | 200.3 | nm | 25.0% |
Non-recurring items above EBIT | 0.0 | - 0 | - 0 | - 0 | - 0 | (0.3) | (0.2) | nm | nm | |
EBIT | 42.0 | - 0 | - 0 | 170.7 | 170.7 | 33.7 | 246.4 | nm | 80.4% | |
EBIT Margin | 5.8% | 22.9% | 1710 bps | 120 bps | ||||||
Normalized EBIT | 41.9 | - 0 | - 0 | 170.7 | 170.7 | 34.0 | 246.6 | nm | 81.1% | |
% Normalized EBIT margin | 5.8% | 23.0% | 1720 bps | 130 bps | ||||||
IM-101 | ..Deprec. & impairm. tangible - prod & pack. | (50.7) | - 0 | - 0 | - 0 | - 0 | (2.5) | (53.2) | 5.0% | 5.0% |
IM-103 | ..Amort & impairm. intangible - prod & pack | (0.0) | - 0 | - 0 | - 0 | - 0 | (0.0) | (0.0) | 50.0% | 50.0% |
IM-129 | Impairment of goodwill | - 0 | - 0 | - 0 | - 0 | - 0 | - 0 | - 0 | 0.0% | 0.0% |
EBITDA | 129.0 | - 0 | - 0 | 170.7 | 170.7 | 28.0 | 327.6 | 154.0% | 21.7% | |
EBITDA Margin | 17.8% | 30.5% | 1270 bps | -320 bps | ||||||
IM-095-V2 | Non-recurring items above EBITDA | 0.0 | - 0 | - 0 | - 0 | - 0 | (0.0) | (0.0) | -104.2% | -104.2% |
Normalized EBITDA | 129.0 | - 0 | - 0 | 170.7 | 170.7 | 28.2 | 327.9 | 154.3% | 21.9% | |
% Normalized EBITDA margin | 17.8% | 30.5% | 1270 bps | -320 bps | ||||||
NAB Brazil | YTD20 | IN | OUT | EXT | Scope | Currency Translation | Organic Growth | YTD21 | % As Reported | % Organic |
R$ million | ||||||||||
Volume ('000 hl) | 11,581.5 | - 0 | - 0 | - 0 | 1,394.9 | 12,976.4 | 12.0% | 12.0% | ||
IL-010 | Net revenue | 1,796.6 | - 0 | - 0 | - 0 | 378.1 | 2,174.7 | 21.0% | 21.0% | |
Net revenue/hl (R$) | 155.1 | - 0 | - 0 | - 0 | 12.5 | 167.6 | 8.0% | 8.0% | ||
IL-030 | COGS | (956.3) | - 0 | - 0 | - 0 | (281.7) | (1,238.0) | 29.5% | 29.5% | |
COGS/hl (R$) | (82.6) | - 0 | - 0 | - 0 | (12.8) | (95.4) | 15.5% | 15.5% | ||
COGS excl. deprec. & amort. | (858.6) | - 0 | - 0 | - 0 | (278.6) | (1,137.2) | 32.5% | 32.5% | ||
COGS/hl excl. deprec. & amort. (R$) | (74.1) | - 0 | - 0 | - 0 | (13.5) | (87.6) | 18.2% | 18.2% | ||
IL-040 | Gross profit | 840.2 | - 0 | - 0 | - 0 | 96.4 | 936.7 | 11.5% | 11.5% | |
% Gross margin | 46.8% | 43.1% | -370 bps | -370 bps | ||||||
SG&A excl. deprec. & amort. | (552.6) | - 0 | - 0 | - 0 | (101.5) | (654.2) | 18.4% | 18.4% | ||
IM-105 | ..Deprec. & impairm. tangible - logistics | (51.8) | - 0 | - 0 | - 0 | 19.0 | (32.8) | -36.6% | -36.6% | |
IM-107 | ..Amort & impairm. intangible - logistics | (0.7) | - 0 | - 0 | - 0 | 0.0 | (0.7) | -2.0% | -2.0% | |
IM-109 | ..Deprec. & impairm. tangible - commercial | (5.1) | - 0 | - 0 | - 0 | 1.3 | (3.7) | -26.3% | -26.3% | |
IM-111 | ..Amort & impairm. intangible - commercial | - 0 | - 0 | - 0 | - 0 | - 0 | - 0 | 0.0% | 0.0% | |
IM-113 | ..Deprec. & impairm. tangible - administrative | (8.0) | - 0 | - 0 | - 0 | (1.5) | (9.6) | 19.2% | 19.2% | |
IM-115 | ..Amort & impairm. intangible - administrative | (11.9) | - 0 | - 0 | - 0 | (1.7) | (13.6) | 14.7% | 14.7% | |
IM-578-V2 | Deprec & impairm right-of-use assets commercial | (2.2) | - 0 | - 0 | - 0 | (8.1) | (10.3) | nm | nm | |
SG&A deprec. & amort. | (79.7) | - 0 | - 0 | - 0 | 8.9 | (70.8) | -11.2% | -11.2% | ||
IL-060 | Distribution expenses | (342.4) | - 0 | - 0 | - 0 | (42.3) | (384.7) | 12.4% | 12.4% | |
IL-070 | Sales expenses | (115.4) | - 0 | - 0 | - 0 | 24.1 | (91.3) | -20.9% | -20.9% | |
IL-080 | Marketing expenses | (52.7) | - 0 | - 0 | - 0 | (3.5) | (56.3) | 6.7% | 6.7% | |
IL-100 | Administrative expenses | (121.8) | - 0 | - 0 | - 0 | (70.8) | (192.6) | 58.1% | 58.1% | |
SG&A total | (632.3) | - 0 | - 0 | - 0 | (92.6) | (724.9) | 14.6% | 14.6% | ||
IM-120 | Other operating income/(expenses) | 55.3 | - 0 | - 0 | 170.7 | 170.7 | 13.6 | 239.7 | nm | 24.6% |
Non-recurring items above EBIT | 0.0 | - 0 | - 0 | - 0 | - 0 | (0.3) | (0.3) | nm | nm | |
EBIT | 263.3 | - 0 | - 0 | 170.7 | 170.7 | 17.1 | 451.1 | 71.3% | 6.5% | |
EBIT Margin | 14.7% | 20.7% | 600 bps | -180 bps | ||||||
Normalized EBIT | 263.3 | - 0 | - 0 | 170.7 | 170.7 | 17.4 | 451.4 | 71.5% | 6.6% | |
% Normalized EBIT margin | 14.7% | 20.8% | 610 bps | -180 bps | ||||||
IM-101 | ..Deprec. & impairm. tangible - prod & pack. | (97.8) | - 0 | - 0 | - 0 | - 0 | (3.0) | (100.8) | 3.1% | 3.1% |
IM-103 | ..Amort & impairm. intangible - prod & pack | (0.0) | - 0 | - 0 | - 0 | - 0 | (0.0) | (0.0) | 55.6% | 55.6% |
IM-129 | Impairment of goodwill | - 0 | - 0 | - 0 | - 0 | - 0 | - 0 | - 0 | 0.0% | 0.0% |
EBITDA | 440.7 | - 0 | - 0 | 170.7 | 170.7 | 11.2 | 622.7 | 41.3% | 2.6% | |
EBITDA Margin | 24.5% | 28.6% | 410 bps | -370 bps | ||||||
IM-095-V2 | Non-recurring items above EBITDA | 0.0 | - 0 | - 0 | - 0 | - 0 | (0.0) | (0.0) | nm | nm |
Normalized EBITDA | 440.7 | - 0 | - 0 | 170.7 | 170.7 | 11.6 | 623.0 | 41.4% | 2.6% | |
% Normalized EBITDA margin | 24.5% | 28.6% | 410 bps | -370 bps |
Consolidated income statement | 2Q20 | IN | OUT | EXT | Scope | Currency Translation | IAS 29 3M Impact | Organic Growth | 2Q21 | % As Reported | % Organic |
R$ million | |||||||||||
Net revenue | 11,615.3 | - 0 | - 0 | 0.2 | 0.2 | (280.1) | 184.3 | 4,191.5 | 15,711.1 | 35.3% | 36.2% |
Cost of goods sold (COGS) | (5,801.9) | - 0 | - 0 | (0.1) | (0.1) | 95.3 | (80.9) | (2,177.7) | (7,965.3) | 37.3% | 37.6% |
Gross profit | 5,813.5 | - 0 | - 0 | 0.1 | 0.1 | (184.8) | 103.4 | 2,013.7 | 7,745.9 | 33.2% | 34.7% |
Selling, general and administrative (SG&A) | (3,832.3) | - 0 | - 0 | (0.1) | (0.1) | 88.0 | (46.5) | (1,360.9) | (5,151.8) | 34.4% | 35.6% |
Other operating income/(expenses) | 64.9 | - 0 | - 0 | 1,219.2 | 1,219.2 | 6.2 | (0.8) | 105.6 | 1,395.0 | nm | 163.2% |
Normalized operating income (normalized EBIT) | 2,046.1 | - 0 | - 0 | 1,219.2 | 1,219.2 | (90.6) | 56.1 | 758.4 | 3,989.1 | 95.0% | 37.2% |
Exceptional items above EBIT | (127.9) | - 0 | - 0 | - 0 | - 0 | 7.8 | (2.6) | 37.1 | (85.7) | -33.0% | -29.0% |
Net finance results | (793.7) | (277.3) | -65.1% | ||||||||
Share of results of joint ventures | (16.2) | (9.0) | -44.4% | ||||||||
Income tax expense | 163.1 | (687.5) | nm | ||||||||
Profit | 1,271.3 | 2,929.6 | 130.4% | ||||||||
Attributable to Ambev holders | 1,226.8 | 2,885.8 | 135.2% | ||||||||
Attributable to non-controlling interests | 44.5 | 43.8 | -1.6% | ||||||||
Normalized profit | 1,372.6 | 2,962.7 | 115.9% | ||||||||
Attributable to Ambev holders | 1,327.5 | 2,964.1 | 123.3% | ||||||||
Normalized EBITDA | 3,348.3 | - 0 | - 0 | 1,219.2 | 1,219.2 | (147.9) | 68.7 | 800.9 | 5,289.2 | 58.0% | 24.0% |
Consolidated income statement | YTD20 | IN | OUT | EXT | Scope | Currency Translation | IAS 29 3M Impact | Organic Growth | YTD21 | % As Reported | % Organic |
R$ million | |||||||||||
Net revenue | 24,217.9 | - 0 | - 0 | 6.6 | 6.6 | 252.2 | 7,874.1 | 32,350.9 | 33.6% | 32.5% | |
Cost of goods sold (COGS) | (11,445.1) | - 0 | - 0 | (3.1) | (3.1) | (210.4) | (4,252.0) | (15,910.6) | 39.0% | 37.2% | |
Gross profit | 12,772.9 | - 0 | - 0 | 3.5 | 3.5 | 41.8 | 3,622.1 | 16,440.3 | 28.7% | 28.4% | |
Selling, general and administrative (SG&A) | (7,904.5) | - 0 | - 0 | (3.5) | (3.5) | (79.7) | (1,972.8) | (9,960.5) | 26.0% | 25.0% | |
Other operating income | 236.2 | - 0 | - 0 | 1,219.2 | 1,219.2 | 6.4 | 111.2 | 1,572.9 | nm | 47.1% | |
Normalized operating income (normalized EBIT) | 5,104.5 | - 0 | - 0 | 1,219.2 | 1,219.2 | (31.5) | 1,760.5 | 8,052.7 | 57.8% | 34.5% | |
Exceptional items above EBIT | (152.0) | - 0 | - 0 | - 0 | - 0 | 12.7 | (17.8) | (157.1) | 3.3% | 11.7% | |
Net finance results | (2,330.6) | (1,341.6) | -42.4% | ||||||||
Share of results of joint ventures | (22.9) | (21.6) | -5.6% | ||||||||
Income tax expense | (116.5) | (869.6) | nm | ||||||||
Profit | 2,482.6 | 5,662.9 | 128.1% | ||||||||
Attributable to Ambev holders | 2,318.6 | 5,511.2 | 137.7% | ||||||||
Attributable to non-controlling interests | 164.0 | 151.7 | -7.5% | ||||||||
Normalized profit | 2,600.4 | 5,724.7 | 120.1% | ||||||||
Attributable to Ambev holders | 2,434.8 | 2,684.3 | 10.2% | ||||||||
Normalized EBITDA | 7,580.8 | - 0 | - 0 | 1,219.2 | 1,219.2 | (59.8) | 1,876.2 | 10,616.4 | 40.0% | 24.8% |
CAC | 2Q20 | IN | OUT | EXT | Scope | Currency Translation | Organic Growth | 2Q21 | % As Reported | % Organic |
R$ million | ||||||||||
Volume ('000 hl) | 2,089.7 | - 0 | - 0 | - 0 | 1,310.0 | 3,399.7 | 62.7% | 62.7% | ||
IL-010 | Net revenue | 1,387.4 | - 0 | - 0 | - 0 | 81.1 | 993.0 | 2,461.5 | 77.4% | 71.6% |
Net revenue/hl (R$) | 663.9 | - 0 | - 0 | - 0 | 23.9 | 36.2 | 724.0 | 9.1% | 5.5% | |
IL-030 | COGS | (659.9) | - 0 | - 0 | - 0 | (39.8) | (471.5) | (1,171.2) | 77.5% | 71.4% |
COGS/hl (R$) | (315.8) | - 0 | - 0 | - 0 | (11.7) | (17.0) | (344.5) | 9.1% | 5.4% | |
COGS excl. deprec. & amort. | (546.7) | - 0 | - 0 | - 0 | (37.3) | (477.2) | (1,061.2) | 94.1% | 87.3% | |
COGS/hl excl. deprec. & amort. (R$) | (261.6) | - 0 | - 0 | - 0 | (11.0) | (39.6) | (312.1) | 19.3% | 15.1% | |
IL-040 | Gross profit | 727.6 | - 0 | - 0 | - 0 | 41.3 | 521.5 | 1,290.4 | 77.4% | 71.7% |
% Gross margin | 52.4% | 52.4% | 0 bps | 10 bps | ||||||
SG&A excl. deprec. & amort. | (268.9) | - 0 | - 0 | - 0 | (19.5) | (186.7) | (475.2) | 76.7% | 69.4% | |
IM-105 | ..Deprec. & impairm. tangible - logistics | (23.5) | - 0 | - 0 | - 0 | 0.3 | 0.5 | (22.6) | -3.8% | -2.3% |
IM-107 | ..Amort & impairm. intangible - logistics | - 0 | - 0 | - 0 | - 0 | - 0 | - 0 | - 0 | 0.0% | 0.0% |
IM-109 | ..Deprec. & impairm. tangible - commercial | (16.5) | - 0 | - 0 | - 0 | (0.8) | (1.1) | (18.4) | 11.6% | 6.8% |
IM-111 | ..Amort & impairm. intangible - commercial | (0.4) | - 0 | - 0 | - 0 | (0.0) | 0.3 | (0.1) | -86.1% | -86.8% |
IM-113 | ..Deprec. & impairm. tangible - administrative | (6.7) | - 0 | - 0 | - 0 | (0.4) | (1.0) | (8.1) | 21.4% | 15.1% |
IM-115 | ..Amort & impairm. intangible - administrative | (7.0) | - 0 | - 0 | - 0 | (0.0) | 1.6 | (5.4) | -21.6% | -22.3% |
IM-578-V2 | Deprec & impairm right-of-use assets commercial | (0.2) | - 0 | - 0 | - 0 | (0.0) | (0.0) | (0.3) | 20.8% | 17.3% |
SG&A deprec. & amort. | (54.2) | - 0 | - 0 | - 0 | (0.9) | 0.3 | (54.9) | 1.2% | -0.5% | |
IL-060 | Distribution expenses | (148.2) | - 0 | - 0 | - 0 | (6.7) | (61.6) | (216.4) | 46.1% | 41.6% |
IL-070 | Sales expenses | (80.2) | - 0 | - 0 | - 0 | (3.6) | (21.9) | (105.6) | 31.7% | 27.3% |
IL-080 | Marketing expenses | (19.0) | - 0 | - 0 | - 0 | (1.6) | (30.2) | (50.8) | 167.2% | 158.9% |
IL-100 | Administrative expenses | (75.7) | - 0 | - 0 | - 0 | (8.6) | (72.8) | (157.1) | 107.5% | 96.2% |
SG&A total | (323.1) | - 0 | - 0 | - 0 | (20.4) | (186.5) | (530.0) | 64.0% | 57.7% | |
IM-120 | Other operating income/(expenses) | (18.4) | - 0 | - 0 | - 0 | 0.7 | 21.7 | 4.0 | -121.6% | -118.0% |
Non-recurring items above EBIT | (23.0) | - 0 | - 0 | - 0 | 0.0 | 10.8 | (12.2) | -47.0% | -46.8% | |
EBIT | 363.0 | - 0 | - 0 | - 0 | 21.6 | 367.5 | 752.1 | 107.2% | 101.2% | |
EBIT Margin | 26.2% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 30.6% | 440 bps | 450 bps | |
Normalized EBIT | 386.0 | - 0 | - 0 | - 0 | 21.6 | 356.8 | 764.3 | 98.0% | 92.4% | |
% Normalized EBIT margin | 27.8% | 31.1% | 330 bps | 340 bps | ||||||
IM-101 | ..Deprec. & impairm. tangible - prod & pack. | (113.1) | - 0 | - 0 | - 0 | (2.6) | 5.9 | (109.7) | -3.0% | -5.3% |
IM-103 | ..Amort & impairm. intangible - prod & pack | (0.0) | - 0 | - 0 | - 0 | (0.0) | (0.2) | (0.2) | nm | nm |
IM-129 | Impairment of goodwill | - 0 | - 0 | - 0 | - 0 | - 0 | - 0 | - 0 | 0.0% | 0.0% |
EBITDA | 530.3 | - 0 | - 0 | - 0 | 25.1 | 361.5 | 917.0 | 72.9% | 68.2% | |
EBITDA Margin | 38.2% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 37.3% | -90 bps | -70 bps | |
IM-095-V2 | Non-recurring items above EBITDA | (23.0) | - 0 | - 0 | - 0 | 0.1 | 18.4 | (4.5) | -80.5% | -80.0% |
Normalized EBITDA | 553.3 | - 0 | - 0 | - 0 | 25.1 | 350.8 | 929.1 | 67.9% | 63.4% | |
% Normalized EBITDA margin | 39.9% | 37.7% | -220 bps | -190 bps | ||||||
CAC | YTD20 | IN | OUT | EXT | Scope | Currency Translation | Organic Growth | YTD21 | % As Reported | % Organic |
R$ million | ||||||||||
Volume ('000 hl) | 4,837.8 | - 0 | - 0 | - 0 | 1,586.6 | 6,424.4 | 32.8% | 32.8% | ||
IL-010 | Net revenue | 2,811.9 | - 0 | - 0 | - 0 | 414.1 | 1,395.1 | 4,621.0 | 64.3% | 49.6% |
Net revenue/hl (R$) | 581.2 | - 0 | - 0 | - 0 | 64.5 | 73.6 | 719.3 | 23.8% | 12.7% | |
IL-030 | COGS | (1,338.2) | - 0 | - 0 | - 0 | (196.5) | (651.8) | (2,186.6) | 63.4% | 48.7% |
COGS/hl (R$) | (276.6) | - 0 | - 0 | - 0 | (30.6) | (33.1) | (340.4) | 23.0% | 12.0% | |
COGS excl. deprec. & amort. | (1,137.7) | - 0 | - 0 | - 0 | (176.8) | (651.6) | (1,966.1) | 72.8% | 57.3% | |
COGS/hl excl. deprec. & amort. (R$) | (235.2) | - 0 | - 0 | - 0 | (27.5) | (43.3) | (306.0) | 30.1% | 18.4% | |
IL-040 | Gross profit | 1,473.6 | - 0 | - 0 | - 0 | 217.6 | 743.2 | 2,434.4 | 65.2% | 50.4% |
% Gross margin | 52.4% | 52.7% | 30 bps | 30 bps | ||||||
SG&A excl. deprec. & amort. | (584.6) | - 0 | - 0 | - 0 | (85.5) | (220.4) | (890.5) | 52.3% | 37.7% | |
IM-105 | ..Deprec. & impairm. tangible - logistics | (40.0) | - 0 | - 0 | - 0 | (5.1) | (13.1) | (58.3) | 45.6% | 32.9% |
IM-107 | ..Amort & impairm. intangible - logistics | - 0 | - 0 | - 0 | - 0 | - 0 | - 0 | - 0 | 0.0% | 0.0% |
IM-109 | ..Deprec. & impairm. tangible - commercial | (29.3) | - 0 | - 0 | - 0 | (3.7) | (2.2) | (35.2) | 20.2% | 7.6% |
IM-111 | ..Amort & impairm. intangible - commercial | (0.8) | - 0 | - 0 | - 0 | (0.0) | 0.7 | (0.1) | -87.5% | -89.0% |
IM-113 | ..Deprec. & impairm. tangible - administrative | (11.5) | - 0 | - 0 | - 0 | (1.5) | (1.6) | (14.6) | 26.8% | 13.5% |
IM-115 | ..Amort & impairm. intangible - administrative | (12.5) | - 0 | - 0 | - 0 | (0.9) | 2.0 | (11.4) | -8.8% | -16.4% |
IM-578-V2 | Deprec & impairm right-of-use assets commercial | (0.5) | - 0 | - 0 | - 0 | (0.0) | (0.0) | (0.5) | 14.3% | 5.6% |
SG&A deprec. & amort. | (94.6) | - 0 | - 0 | - 0 | (11.3) | (14.2) | (120.1) | 27.0% | 15.0% | |
IL-060 | Distribution expenses | (302.1) | - 0 | - 0 | - 0 | (40.3) | (83.5) | (426.0) | 41.0% | 27.7% |
IL-070 | Sales expenses | (174.9) | - 0 | - 0 | - 0 | (22.0) | (18.1) | (215.0) | 22.9% | 10.4% |
IL-080 | Marketing expenses | (75.3) | - 0 | - 0 | - 0 | (10.5) | (16.4) | (102.1) | 35.7% | 21.8% |
IL-100 | Administrative expenses | (126.9) | - 0 | - 0 | - 0 | (24.1) | (116.4) | (267.5) | 110.7% | 91.7% |
SG&A total | (679.2) | - 0 | - 0 | - 0 | (96.8) | (234.5) | (1,010.6) | 48.8% | 34.5% | |
IM-120 | Other operating income/(expenses) | (13.1) | - 0 | - 0 | - 0 | 0.7 | 16.4 | 4.0 | -130.7% | -125.3% |
Non-recurring items above EBIT | (26.8) | - 0 | - 0 | - 0 | (2.4) | 0.2 | (29.1) | 8.5% | -0.6% | |
EBIT | 754.5 | - 0 | - 0 | - 0 | 119.0 | 525.3 | 1,398.8 | 85.4% | 69.6% | |
EBIT Margin | 26.8% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 30.3% | 350 bps | 360 bps | |
Normalized EBIT | 781.3 | - 0 | - 0 | - 0 | 121.4 | 525.1 | 1,427.9 | 82.8% | 67.2% | |
% Normalized EBIT margin | 27.8% | 30.9% | 310 bps | 330 bps | ||||||
IM-101 | ..Deprec. & impairm. tangible - prod & pack. | (200.5) | - 0 | - 0 | - 0 | (19.6) | 0.1 | (220.1) | 9.7% | -0.1% |
IM-103 | ..Amort & impairm. intangible - prod & pack | (0.0) | - 0 | - 0 | - 0 | (0.1) | (0.4) | (0.4) | nm | nm |
IM-129 | Impairment of goodwill | - 0 | - 0 | - 0 | - 0 | - 0 | - 0 | - 0 | 0.0% | 0.0% |
EBITDA | 1,049.7 | - 0 | - 0 | - 0 | 150.0 | 539.7 | 1,739.4 | 65.7% | 51.4% | |
EBITDA Margin | 37.3% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 37.6% | 30 bps | 50 bps | |
IM-095-V2 | Non-recurring items above EBITDA | (26.8) | - 0 | - 0 | - 0 | (1.2) | 15.0 | (13.0) | -51.6% | -56.1% |
Normalized EBITDA | 1,076.4 | - 0 | - 0 | - 0 | 152.5 | 539.6 | 1,768.4 | 64.3% | 50.1% | |
% Normalized EBITDA margin | 38.3% | 38.3% | 0 bps | 10 bps |
LAS | 2Q20 | IN | OUT | EXT | Scope | Currency Translation | IAS 29 3M Impact | Organic Growth | 2Q21 | % As Reported | % Organic |
R$ million | |||||||||||
Volume ('000 hl) | 5,383.3 | - 0 | - 0 | - 0 | 1,442.5 | 6,825.8 | 26.8% | 26.8% | |||
IL-010 | Net revenue | 1,863.6 | - 0 | - 0 | - 0 | (951.5) | 184.3 | 1,447.5 | 2,544.0 | 36.5% | 78.9% |
Net revenue/hl (R$) | 346.2 | - 0 | - 0 | - 0 | (139.4) | 23.8 | 142.2 | 372.7 | 7.7% | 41.1% | |
IL-030 | COGS | (1,119.7) | - 0 | - 0 | - 0 | 378.6 | (80.9) | (559.3) | (1,381.2) | 23.4% | 50.5% |
COGS/hl (R$) | (208.0) | - 0 | - 0 | - 0 | 55.5 | (11.0) | (38.9) | (202.4) | -2.7% | 18.7% | |
COGS excl. deprec. & amort. | (923.0) | - 0 | - 0 | - 0 | 315.1 | (71.8) | (522.2) | (1,201.9) | 30.2% | 57.2% | |
COGS/hl excl. deprec. & amort. (R$) | (171.5) | - 0 | - 0 | - 0 | 46.2 | (9.6) | (41.1) | (176.1) | 2.7% | 24.0% | |
IL-040 | Gross profit | 744.0 | - 0 | - 0 | - 0 | (572.9) | 103.4 | 888.3 | 1,162.8 | 56.3% | 122.0% |
% Gross margin | 39.9% | 45.7% | 580 bps | 950 bps | |||||||
SG&A excl. deprec. & amort. | (621.7) | - 0 | - 0 | - 0 | 269.5 | (42.9) | (358.3) | (753.4) | 21.2% | 58.3% | |
IM-105 | ..Deprec. & impairm. tangible - logistics | (12.5) | - 0 | - 0 | - 0 | 4.1 | (0.5) | (4.8) | (13.7) | 9.3% | 38.4% |
IM-107 | ..Amort & impairm. intangible - logistics | (0.3) | - 0 | - 0 | - 0 | 0.2 | (0.0) | (0.2) | (0.4) | 12.1% | 75.2% |
IM-109 | ..Deprec. & impairm. tangible - commercial | (46.6) | - 0 | - 0 | - 0 | 9.9 | (1.3) | 8.4 | (29.7) | -36.4% | -18.1% |
IM-111 | ..Amort & impairm. intangible - commercial | (0.6) | - 0 | - 0 | - 0 | 2.2 | (0.2) | (5.0) | (3.7) | nm | nm |
IM-113 | ..Deprec. & impairm. tangible - administrative | (14.5) | - 0 | - 0 | - 0 | 3.1 | (0.5) | (4.7) | (16.6) | 14.7% | 32.6% |
IM-115 | ..Amort & impairm. intangible - administrative | (9.8) | - 0 | - 0 | - 0 | 6.0 | (0.9) | (5.3) | (10.0) | 1.9% | 54.5% |
IM-578-V2 | Deprec & impairm right-of-use assets commercial | (1.1) | - 0 | - 0 | - 0 | 0.2 | (0.0) | 0.4 | (0.5) | -52.7% | -36.7% |
SG&A deprec. & amort. | (85.4) | - 0 | - 0 | - 0 | 25.7 | (3.6) | (11.2) | (74.4) | -12.8% | 13.3% | |
IL-060 | Distribution expenses | (315.9) | - 0 | - 0 | - 0 | 133.3 | (23.7) | (123.0) | (329.3) | 4.2% | 39.4% |
IL-070 | Sales expenses | (212.3) | - 0 | - 0 | - 0 | 68.7 | (8.4) | (62.7) | (214.8) | 1.1% | 29.8% |
IL-080 | Marketing expenses | (48.8) | - 0 | - 0 | - 0 | 33.2 | (4.7) | (85.3) | (105.6) | 116.2% | 177.6% |
IL-100 | Administrative expenses | (130.0) | - 0 | - 0 | - 0 | 60.0 | (9.6) | (98.6) | (178.3) | 37.1% | 76.5% |
SG&A total | (707.1) | - 0 | - 0 | - 0 | 295.2 | (46.5) | (369.5) | (827.9) | 17.1% | 52.8% | |
IM-120 | Other operating income/(expenses) | (42.2) | - 0 | - 0 | - 0 | 4.7 | (0.8) | 37.1 | (1.2) | -97.0% | -87.5% |
Non-recurring items above EBIT | (32.9) | - 0 | - 0 | - 0 | 8.7 | (2.6) | 0.5 | (26.4) | -19.8% | -1.4% | |
EBIT | (38.3) | - 0 | - 0 | - 0 | (264.3) | 53.5 | 556.3 | 307.3 | nm | nm | |
EBIT Margin | -2.1% | 12.1% | 1420 bps | 1810 bps | |||||||
Normalized EBIT | (5.4) | - 0 | - 0 | - 0 | (273.0) | 56.1 | 555.9 | 333.7 | nm | nm | |
% Normalized EBIT margin | -0.3% | 13.1% | 1340 bps | 1730 bps | |||||||
IM-101 | ..Deprec. & impairm. tangible - prod & pack. | (196.0) | - 0 | - 0 | - 0 | 63.0 | (9.0) | (36.8) | (178.8) | -8.8% | 18.9% |
IM-103 | ..Amort & impairm. intangible - prod & pack | (0.7) | - 0 | - 0 | - 0 | 0.4 | (0.1) | (0.3) | (0.6) | -9.2% | 43.6% |
IM-129 | Impairment of goodwill | - 0 | - 0 | - 0 | - 0 | - 0 | - 0 | - 0 | - 0 | 0.0% | 0.0% |
EBITDA | 243.8 | - 0 | - 0 | - 0 | (353.4) | 66.1 | 604.6 | 561.1 | 130.2% | nm | |
EBITDA Margin | 13.1% | 22.1% | 900 bps | 1280 bps | |||||||
IM-095-V2 | Non-recurring items above EBITDA | (32.9) | - 0 | - 0 | - 0 | 6.0 | (2.3) | 20.5 | (8.7) | -73.4% | -62.5% |
Normalized EBITDA | 276.7 | - 0 | - 0 | - 0 | (362.1) | 68.7 | 604.2 | 587.5 | 112.3% | nm | |
% Normalized EBITDA margin | 14.8% | 23.1% | 830 bps | 1200 bps | |||||||
LAS | YTD20 | IN | OUT | EXT | Scope | Currency Translation | IAS 29 3M Impact | Organic Growth | YTD21 | % As Reported | % Organic |
R$ million | |||||||||||
Volume ('000 hl) | 14,717.2 | - 0 | - 0 | - 0 | 2,611.7 | 17,328.9 | 17.7% | 17.7% | |||
IL-010 | Net revenue | 4,983.8 | - 0 | - 0 | - 0 | (1,251.2) | 3,004.0 | 6,736.5 | 35.2% | 60.3% | |
Net revenue/hl (R$) | 338.6 | - 0 | - 0 | - 0 | (72.2) | 122.3 | 388.7 | 14.8% | 36.1% | ||
IL-030 | COGS | (2,534.3) | - 0 | - 0 | - 0 | 433.8 | (1,384.5) | (3,485.0) | 37.5% | 54.6% | |
COGS/hl (R$) | (172.2) | - 0 | - 0 | - 0 | 25.0 | (53.9) | (201.1) | 16.8% | 31.3% | ||
COGS excl. deprec. & amort. | (2,159.3) | - 0 | - 0 | - 0 | 352.2 | (1,296.0) | (3,103.0) | 43.7% | 60.0% | ||
COGS/hl excl. deprec. & amort. (R$) | (146.7) | - 0 | - 0 | - 0 | 20.3 | (52.7) | (179.1) | 22.0% | 35.9% | ||
IL-040 | Gross profit | 2,449.5 | - 0 | - 0 | - 0 | (817.4) | 1,619.4 | 3,251.6 | 32.7% | 66.1% | |
% Gross margin | 49.1% | 48.3% | -80 bps | 180 bps | |||||||
SG&A excl. deprec. & amort. | (1,353.3) | - 0 | - 0 | - 0 | 355.0 | (671.0) | (1,669.4) | 23.4% | 49.6% | ||
IM-105 | ..Deprec. & impairm. tangible - logistics | (23.5) | - 0 | - 0 | - 0 | 5.0 | (9.0) | (27.4) | 16.7% | 38.2% | |
IM-107 | ..Amort & impairm. intangible - logistics | (0.6) | - 0 | - 0 | - 0 | 0.3 | (0.5) | (0.7) | 30.6% | 88.4% | |
IM-109 | ..Deprec. & impairm. tangible - commercial | (90.1) | - 0 | - 0 | - 0 | 12.8 | 12.5 | (64.8) | -28.1% | -13.9% | |
IM-111 | ..Amort & impairm. intangible - commercial | (1.1) | - 0 | - 0 | - 0 | 2.9 | (7.8) | (6.1) | nm | nm | |
IM-113 | ..Deprec. & impairm. tangible - administrative | (28.2) | - 0 | - 0 | - 0 | 3.2 | (8.4) | (33.3) | 18.2% | 29.6% | |
IM-115 | ..Amort & impairm. intangible - administrative | (18.7) | - 0 | - 0 | - 0 | 8.9 | (12.5) | (22.3) | 19.2% | 66.8% | |
IM-578-V2 | Deprec & impairm right-of-use assets commercial | (2.1) | - 0 | - 0 | - 0 | 0.3 | 0.7 | (1.1) | -46.1% | -32.8% | |
SG&A deprec. & amort. | (164.2) | - 0 | - 0 | - 0 | 33.4 | (25.0) | (155.8) | -5.2% | 15.2% | ||
IL-060 | Distribution expenses | (682.2) | - 0 | - 0 | - 0 | 189.2 | (306.2) | (799.2) | 17.2% | 44.9% | |
IL-070 | Sales expenses | (436.0) | - 0 | - 0 | - 0 | 83.0 | (74.8) | (427.8) | -1.9% | 17.2% | |
IL-080 | Marketing expenses | (148.6) | - 0 | - 0 | - 0 | 39.5 | (109.2) | (218.3) | 46.9% | 73.5% | |
IL-100 | Administrative expenses | (250.8) | - 0 | - 0 | - 0 | 76.8 | (205.7) | (379.8) | 51.4% | 82.0% | |
SG&A total | (1,517.6) | - 0 | - 0 | - 0 | 388.4 | (696.0) | (1,825.1) | 20.3% | 45.9% | ||
IM-120 | Other operating income/(expenses) | (25.6) | - 0 | - 0 | - 0 | 7.1 | 12.6 | (5.9) | -76.8% | -49.2% | |
Non-recurring items above EBIT | (37.8) | - 0 | - 0 | - 0 | 16.3 | (40.1) | (61.7) | 63.0% | 106.0% | ||
EBIT | 868.6 | - 0 | - 0 | - 0 | (405.7) | 895.9 | 1,358.8 | 56.4% | 103.1% | ||
EBIT Margin | 17.4% | 20.2% | 280 bps | 470 bps | |||||||
Normalized EBIT | 906.4 | - 0 | - 0 | - 0 | (421.9) | 936.0 | 1,420.5 | 56.7% | 103.3% | ||
% Normalized EBIT margin | 18.2% | 21.1% | 290 bps | 490 bps | |||||||
IM-101 | ..Deprec. & impairm. tangible - prod & pack. | (373.7) | - 0 | - 0 | - 0 | 81.0 | (87.9) | (380.7) | 1.8% | 23.5% | |
IM-103 | ..Amort & impairm. intangible - prod & pack | (1.3) | - 0 | - 0 | - 0 | 0.6 | (0.7) | (1.3) | 4.7% | 52.1% | |
IM-129 | Impairment of goodwill | - 0 | - 0 | - 0 | - 0 | - 0 | - 0 | - 0 | 0.0% | 0.0% | |
EBITDA | 1,407.8 | - 0 | - 0 | - 0 | (520.7) | 1,009.5 | 1,896.6 | 34.7% | 71.7% | ||
EBITDA Margin | 28.2% | 28.2% | 0 bps | 210 bps | |||||||
IM-095-V2 | Non-recurring items above EBITDA | (37.8) | - 0 | - 0 | - 0 | 13.5 | (12.7) | (37.1) | -1.9% | 33.7% | |
Normalized EBITDA | 1,445.7 | - 0 | - 0 | - 0 | (537.0) | 1,049.6 | 1,958.3 | 35.5% | 72.6% | ||
% Normalized EBITDA margin | 29.0% | 29.1% | 10 bps | 220 bps |
Canada | 2Q20 | IN | OUT | EXT | Scope | Currency Translation | Organic Growth | 2Q21 | % As Reported | % Organic | |
R$ million | |||||||||||
Volume ('000 hl) | 2,889.4 | - 0 | - 0 | - 0 | - 0 | (26.8) | 2,862.6 | -0.9% | -0.9% | ||
IL-010 | Net revenue | 2,509.6 | - 0 | - 0 | 0.2 | 0.2 | 590.2 | 82.2 | 3,182.1 | 26.8% | 3.3% |
Net revenue/hl (R$) | 868.5 | - 0 | - 0 | 0.1 | 0.1 | 206.2 | 36.8 | 1,111.6 | 28.0% | 4.2% | |
IL-030 | COGS | (1,041.1) | - 0 | - 0 | (0.1) | (0.1) | (243.4) | (26.7) | (1,311.3) | 26.0% | 2.6% |
COGS/hl (R$) | (360.3) | - 0 | - 0 | (0.0) | (0.0) | (85.0) | (12.7) | (458.1) | 27.1% | 3.5% | |
COGS excl. deprec. & amort. | (979.8) | - 0 | - 0 | (0.1) | (0.1) | (224.9) | (8.5) | (1,213.3) | 23.8% | 0.9% | |
COGS/hl excl. deprec. & amort. (R$) | (339.1) | - 0 | - 0 | (0.0) | (0.0) | (78.6) | (6.2) | (423.8) | 25.0% | 1.8% | |
IL-040 | Gross profit | 1,468.5 | - 0 | - 0 | 0.1 | 0.1 | 346.8 | 55.5 | 1,870.9 | 27.4% | 3.8% |
% Gross margin | 58.5% | 0.0% | 0.0% | 0.0% | 58.8% | 30 bps | 30 bps | ||||
SG&A excl. deprec. & amort. | (723.7) | - 0 | - 0 | (0.1) | (0.1) | (176.9) | (67.3) | (968.0) | 33.8% | 9.3% | |
IM-105 | ..Deprec. & impairm. tangible - logistics | (4.9) | - 0 | - 0 | - 0 | - 0 | (0.6) | 2.0 | (3.6) | -28.1% | -40.8% |
IM-107 | ..Amort & impairm. intangible - logistics | - 0 | - 0 | - 0 | - 0 | - 0 | - 0 | - 0 | - 0 | 0.0% | 0.0% |
IM-109 | ..Deprec. & impairm. tangible - commercial | (12.8) | - 0 | - 0 | - 0 | - 0 | (1.6) | 4.5 | (10.0) | -22.2% | -34.8% |
IM-111 | ..Amort & impairm. intangible - commercial | 5.6 | - 0 | - 0 | - 0 | - 0 | (0.0) | (5.6) | (0.0) | -100.1% | -100.1% |
IM-113 | ..Deprec. & impairm. tangible - administrative | (22.3) | - 0 | - 0 | - 0 | - 0 | (3.4) | 6.8 | (18.9) | -15.3% | -30.5% |
IM-115 | ..Amort & impairm. intangible - administrative | (16.3) | - 0 | - 0 | - 0 | - 0 | (2.1) | 5.8 | (12.6) | -23.0% | -35.7% |
IM-578-V2 | Deprec & impairm right-of-use assets commercial | (1.5) | - 0 | - 0 | - 0 | - 0 | (2.2) | (8.9) | (12.6) | nm | nm |
SG&A deprec. & amort. | (52.3) | - 0 | - 0 | - 0 | - 0 | (9.9) | 4.6 | (57.6) | 10.2% | -8.8% | |
IL-060 | Distribution expenses | (447.6) | - 0 | - 0 | (0.1) | (0.1) | (101.9) | (3.8) | (553.3) | 23.6% | 0.8% |
IL-070 | Sales expenses | (138.8) | - 0 | - 0 | (0.0) | (0.0) | (30.9) | (4.7) | (174.4) | 25.6% | 3.4% |
IL-080 | Marketing expenses | (91.8) | - 0 | - 0 | (0.0) | (0.0) | (28.1) | (30.9) | (150.8) | 64.2% | 33.6% |
IL-100 | Administrative expenses | (97.7) | - 0 | - 0 | (0.0) | (0.0) | (26.0) | (23.4) | (147.1) | 50.5% | 23.9% |
SG&A total | (776.0) | - 0 | - 0 | (0.1) | (0.1) | (186.8) | (62.7) | (1,025.6) | 32.2% | 8.1% | |
IM-120 | Other operating income/(expenses) | (15.3) | - 0 | - 0 | - 0 | - 0 | 0.8 | 16.8 | 2.3 | -114.8% | -109.7% |
Non-recurring items above EBIT | (36.1) | - 0 | - 0 | - 0 | - 0 | (1.0) | 32.3 | (4.8) | -86.8% | -89.5% | |
EBIT | 641.1 | - 0 | - 0 | (0.0) | (0.0) | 159.8 | 41.9 | 842.7 | 31.5% | 6.5% | |
EBIT Margin | 25.5% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 26.5% | 100 bps | 90 bps | |
Normalized EBIT | 677.2 | - 0 | - 0 | (0.0) | (0.0) | 160.7 | 9.6 | 847.5 | 25.1% | 1.4% | |
% Normalized EBIT margin | 27.0% | 0.0% | 0.0% | 0.0% | 26.6% | -40 bps | -50 bps | ||||
IM-101 | ..Deprec. & impairm. tangible - prod & pack. | (60.6) | - 0 | - 0 | - 0 | - 0 | (18.5) | (18.5) | (97.6) | 61.0% | 30.5% |
IM-103 | ..Amort & impairm. intangible - prod & pack | (0.7) | - 0 | - 0 | - 0 | - 0 | (0.1) | 0.3 | (0.4) | -41.8% | -50.0% |
IM-129 | Impairment of goodwill | - 0 | - 0 | - 0 | - 0 | - 0 | - 0 | - 0 | - 0 | 0.0% | 0.0% |
EBITDA | 754.7 | - 0 | - 0 | (0.0) | (0.0) | 188.2 | 55.4 | 998.3 | 32.3% | 7.3% | |
EBITDA Margin | 30.1% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 31.4% | 130 bps | 120 bps | |
IM-095-V2 | Non-recurring items above EBITDA | (36.1) | - 0 | - 0 | - 0 | - 0 | (0.8) | 33.2 | (3.6) | -90.0% | -92.1% |
Normalized EBITDA | 790.8 | - 0 | - 0 | (0.0) | (0.0) | 189.2 | 23.1 | 1,003.1 | 26.8% | 2.9% | |
% Normalized EBITDA margin | 31.5% | 0.0% | 0.0% | 0.0% | 31.5% | 0 bps | -10 bps | ||||
Canada | YTD20 | IN | OUT | EXT | Scope | Currency Translation | Organic Growth | YTD21 | % As Reported | % Organic | |
R$ million | |||||||||||
Volume ('000 hl) | 4,807.5 | - 0 | - 0 | 6.5 | 6.5 | 20.1 | 4,834.1 | 0.6% | 0.4% | ||
IL-010 | Net revenue | 4,042.5 | - 0 | - 0 | 6.6 | 6.6 | 1,089.4 | 106.1 | 5,244.6 | 29.7% | 2.6% |
Net revenue/hl (R$) | 840.9 | - 0 | - 0 | 0.2 | 0.2 | 225.4 | 18.5 | 1,084.9 | 29.0% | 2.2% | |
IL-030 | COGS | (1,641.2) | - 0 | - 0 | (3.1) | (3.1) | (447.7) | (63.9) | (2,156.0) | 31.4% | 3.9% |
COGS/hl (R$) | (341.4) | - 0 | - 0 | (0.2) | (0.2) | (92.6) | (11.8) | (446.0) | 30.6% | 3.5% | |
COGS excl. deprec. & amort. | (1,526.1) | - 0 | - 0 | (3.1) | (3.1) | (416.3) | (59.2) | (2,004.6) | 31.4% | 3.9% | |
COGS/hl excl. deprec. & amort. (R$) | (317.4) | - 0 | - 0 | (0.2) | (0.2) | (86.1) | (10.9) | (414.7) | 30.6% | 3.4% | |
IL-040 | Gross profit | 2,401.2 | - 0 | - 0 | 3.5 | 3.5 | 641.6 | 42.2 | 3,088.6 | 28.6% | 1.8% |
% Gross margin | 59.4% | 58.9% | -50 bps | -50 bps | |||||||
SG&A excl. deprec. & amort. | (1,334.7) | - 0 | - 0 | (3.5) | (3.5) | (347.0) | 13.2 | (1,672.0) | 25.3% | -1.0% | |
IM-105 | ..Deprec. & impairm. tangible - logistics | (9.3) | - 0 | - 0 | - 0 | - 0 | (1.4) | 3.9 | (6.8) | -26.9% | -42.1% |
IM-107 | ..Amort & impairm. intangible - logistics | - 0 | - 0 | - 0 | - 0 | - 0 | - 0 | - 0 | - 0 | 0.0% | 0.0% |
IM-109 | ..Deprec. & impairm. tangible - commercial | (25.3) | - 0 | - 0 | - 0 | - 0 | (4.8) | 7.1 | (23.0) | -9.1% | -28.0% |
IM-111 | ..Amort & impairm. intangible - commercial | 9.0 | - 0 | - 0 | - 0 | - 0 | (0.0) | (9.0) | (0.0) | -100.1% | -100.1% |
IM-113 | ..Deprec. & impairm. tangible - administrative | (41.7) | - 0 | - 0 | - 0 | - 0 | (7.1) | 14.7 | (34.0) | -18.4% | -35.4% |
IM-115 | ..Amort & impairm. intangible - administrative | (24.7) | - 0 | - 0 | - 0 | - 0 | (5.9) | 2.3 | (28.2) | 14.2% | -9.5% |
IM-578-V2 | Deprec & impairm right-of-use assets commercial | (2.9) | - 0 | - 0 | - 0 | - 0 | (5.1) | (16.7) | (24.7) | nm | nm |
SG&A deprec. & amort. | (94.7) | - 0 | - 0 | - 0 | - 0 | (24.3) | 2.3 | (116.6) | 23.1% | -2.5% | |
IL-060 | Distribution expenses | (760.7) | - 0 | - 0 | (2.5) | (2.5) | (193.8) | 22.6 | (934.4) | 22.8% | -3.0% |
IL-070 | Sales expenses | (300.7) | - 0 | - 0 | (0.1) | (0.1) | (68.6) | 39.5 | (329.9) | 9.7% | -13.1% |
IL-080 | Marketing expenses | (183.5) | - 0 | - 0 | (0.1) | (0.1) | (50.8) | (10.0) | (244.4) | 33.2% | 5.5% |
IL-100 | Administrative expenses | (184.5) | - 0 | - 0 | (0.8) | (0.8) | (58.0) | (36.6) | (279.9) | 51.7% | 19.8% |
SG&A total | (1,429.4) | - 0 | - 0 | (3.5) | (3.5) | (371.3) | 15.5 | (1,788.6) | 25.1% | -1.1% | |
IM-120 | Other operating income/(expenses) | (28.5) | - 0 | - 0 | - 0 | - 0 | (1.4) | 23.2 | (6.7) | -76.4% | -81.3% |
Non-recurring items above EBIT | (39.1) | - 0 | - 0 | - 0 | - 0 | (1.1) | 34.9 | (5.3) | -86.5% | -89.3% | |
EBIT | 904.2 | - 0 | - 0 | 0.1 | 0.1 | 267.9 | 115.9 | 1,288.0 | 42.4% | 12.8% | |
EBIT Margin | 22.4% | 24.6% | 220 bps | 220 bps | |||||||
Normalized EBIT | 943.3 | - 0 | - 0 | 0.1 | 0.1 | 269.0 | 81.0 | 1,293.3 | 37.1% | 8.6% | |
% Normalized EBIT margin | 23.3% | 24.7% | 140 bps | 140 bps | |||||||
IM-101 | ..Deprec. & impairm. tangible - prod & pack. | (114.5) | - 0 | - 0 | - 0 | - 0 | (31.2) | (4.5) | (150.2) | 31.3% | 4.0% |
IM-103 | ..Amort & impairm. intangible - prod & pack | (0.7) | - 0 | - 0 | - 0 | - 0 | (0.2) | (0.2) | (1.1) | 54.2% | 22.1% |
IM-129 | Impairment of goodwill | - 0 | - 0 | - 0 | - 0 | - 0 | - 0 | - 0 | - 0 | 0.0% | 0.0% |
EBITDA | 1,114.1 | - 0 | - 0 | 0.1 | 0.1 | 323.6 | 118.2 | 1,556.0 | 39.7% | 10.6% | |
EBITDA Margin | 27.6% | 29.7% | 210 bps | 210 bps | |||||||
IM-095-V2 | Non-recurring items above EBITDA | (39.1) | - 0 | - 0 | - 0 | - 0 | (0.8) | 36.2 | (3.6) | -90.7% | -92.7% |
Normalized EBITDA | 1,153.2 | - 0 | - 0 | 0.1 | 0.1 | 324.7 | 83.3 | 1,561.2 | 35.4% | 7.2% | |
% Normalized EBITDA margin | 28.5% | 29.8% | 130 bps | 130 bps |
LAN | ERROR:#REF! | IN | OUT | EXT | Scope | Currency Translation | Organic Growth | ERROR:#REF! | % As Reported | % Organic | Organic | Scope | Scope | ||||||||||
R$ million | Growth/HL | IN Int/HL | OUT/HL | Check soma - DREs Brazil e CAC | Check Soma | ||||||||||||||||||
Volume ('000 hl) | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ||||
- 0 | - 0 | - 0 | - 0 | - 0 | - 0 | - 0 | - 0 | - 0 | |||||||||||||||
IL-010 | Net revenue | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! |
Net revenue/hl (R$) | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ||||||||||||
IL-030 | COGS | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! |
COGS/hl (R$) | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ||||||||||||
COGS excl. deprec. & amort. | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ||||
COGS/hl excl. deprec. & amort. (R$) | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ||||||||||||
IL-040 | Gross profit | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! |
% Gross margin | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | |||||||||||||||||||
SG&A excl. deprec. & amort. | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ||||
IM-105 | ..Deprec. & impairm. tangible - logistics | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | |||
IM-107 | ..Amort & impairm. intangible - logistics | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | |||
IM-109 | ..Deprec. & impairm. tangible - commercial | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | |||
IM-111 | ..Amort & impairm. intangible - commercial | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | |||
IM-113 | ..Deprec. & impairm. tangible - administrative | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | |||
IM-115 | ..Amort & impairm. intangible - administrative | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | |||
IM-578-V2 | Deprec & impairm right-of-use assets commercial | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | |||
SG&A deprec. & amort. | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ||||
IL-060 | Distribution expenses | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | |||
IL-070 | Sales expenses | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | |||
IL-080 | Marketing expenses | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | |||
IL-100 | Administrative expenses | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | |||
SG&A total | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | |
IM-120 | Other operating income/(expenses) | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! |
Non-recurring items above EBIT | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ||||
EBIT | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ||||
EBIT Margin | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | |||||||||||||||||||
Normalized EBIT | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | |
% Normalized EBIT margin | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | |||||||||||||||||||
IM-101 | ..Deprec. & impairm. tangible - prod & pack. | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | |||
IM-103 | ..Amort & impairm. intangible - prod & pack | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | |||
IM-129 | Impairment of goodwill | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | |||
EBITDA | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ||||
EBITDA Margin | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | |||||||||||||||||||
IM-095-V2 | Non-recurring items above EBITDA | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | |||
Normalized EBITDA | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | |
% Normalized EBITDA margin | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | |||||||||||||||||||
LAN | ERROR:#REF! | IN | OUT | EXT | Scope | Currency Translation | Organic Growth | ERROR:#REF! | % As Reported | % Organic | Organic | Scope | Scope | ||||||||||
R$ million | Growth/HL | IN Int/HL | OUT/HL | Check soma - DREs Brazil e CAC | Check Soma | ||||||||||||||||||
Volume ('000 hl) | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ||||
- 0 | - 0 | - 0 | - 0 | - 0 | - 0 | - 0 | - 0 | - 0 | |||||||||||||||
IL-010 | Net revenue | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! |
Net revenue/hl (R$) | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ||||||||||||
IL-030 | COGS | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! |
COGS/hl (R$) | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ||||||||||||
COGS excl. deprec. & amort. | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ||||
COGS/hl excl. deprec. & amort. (R$) | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ||||||||||||
IL-040 | Gross profit | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! |
% Gross margin | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | |||||||||||||||||||
SG&A excl. deprec. & amort. | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ||||
IM-105 | ..Deprec. & impairm. tangible - logistics | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | |||
IM-107 | ..Amort & impairm. intangible - logistics | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | |||
IM-109 | ..Deprec. & impairm. tangible - commercial | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | |||
IM-111 | ..Amort & impairm. intangible - commercial | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | |||
IM-113 | ..Deprec. & impairm. tangible - administrative | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | |||
IM-115 | ..Amort & impairm. intangible - administrative | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | |||
IM-578-V2 | Deprec & impairm right-of-use assets commercial | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | |||
SG&A deprec. & amort. | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ||||
IL-060 | Distribution expenses | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | |||
IL-070 | Sales expenses | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | |||
IL-080 | Marketing expenses | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | |||
IL-100 | Administrative expenses | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | |||
SG&A total | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | |
IM-120 | Other operating income/(expenses) | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! |
Non-recurring items above EBIT | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ||||
EBIT | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ||||
EBIT Margin | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | |||||||||||||||||||
Normalized EBIT | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | |
% Normalized EBIT margin | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | |||||||||||||||||||
IM-101 | ..Deprec. & impairm. tangible - prod & pack. | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | |||
IM-103 | ..Amort & impairm. intangible - prod & pack | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | |||
IM-129 | Impairment of goodwill | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | |||
EBITDA | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ||||
EBITDA Margin | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | |||||||||||||||||||
IM-095-V2 | Non-recurring items above EBITDA | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | |||
Normalized EBITDA | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | |
% Normalized EBITDA margin | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! |
LAN | ERROR:#REF! | IN | OUT | EXT | Escopo | Conversão de Moeda | Crescimento Orgânico | ERROR:#REF! | % Reportado | % Orgânico | |
R$ milhões | |||||||||||
Volume ('000 hl) | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | |
IL-010 | Receita líquida | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! |
ROL/hl (R$) | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | |
IL-030 | CPV | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! |
CPV/hl (R$) | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | |
CPV excl. deprec.& amort. | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | |
CPV/hl excl. deprec.& amort. (R$) | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | |
IL-040 | Lucro bruto | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! |
% Margem bruta | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | |||||||
SG&A excl. deprec. & amort. | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | |
IM-105 | ..Deprec. & impairm. tangible - logistics | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! |
IM-107 | ..Amort & impairm. intangible - logistics | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! |
IM-109 | ..Deprec. & impairm. tangible - commercial | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! |
IM-111 | ..Amort & impairm. intangible - commercial | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! |
IM-113 | ..Deprec. & impairm. tangible - administrative | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! |
IM-115 | ..Amort & impairm. intangible - administrative | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! |
IM-578-V2 | Deprec & impairm right-of-use assets commercial | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! |
SG&A deprec. & amort. | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | |
IL-060 | Distribution expenses | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! |
IL-070 | Sales expenses | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! |
IL-080 | Marketing expenses | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! |
IL-100 | Administrative expenses | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! |
SG&A total | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | |
IM-120 | Outras receitas/(despesas) operacionais | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! |
Non-recurring items above EBIT | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | |
EBIT | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | |
EBIT Margin | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | |||||||
EBIT ajustado | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | |
% Margem EBIT ajustado | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | |||||||
IM-101 | ..Deprec. & impairm. tangible - prod & pack. | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! |
IM-103 | ..Amort & impairm. intangible - prod & pack | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! |
IM-129 | Impairment of goodwill | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! |
EBITDA | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | |
EBITDA Margin | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | |||||||
IM-095-V2 | Non-recurring items above EBITDA | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! |
EBITDA ajustado | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | |
% Margem EBITDA ajustado | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | |||||||
LAN | ERROR:#REF! | IN | OUT | EXT | Escopo | Conversão de Moeda | Crescimento Orgânico | ERROR:#REF! | % Reportado | % Orgânico | |
R$ milhões | |||||||||||
Volume ('000 hl) | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | |
IL-010 | Receita líquida | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! |
ROL/hl (R$) | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | |
IL-030 | CPV | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! |
CPV/hl (R$) | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | |
CPV excl. deprec.& amort. | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | |
CPV/hl excl. deprec.& amort. (R$) | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | |
IL-040 | Lucro bruto | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! |
% Margem bruta | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | |||||||
SG&A excl. deprec. & amort. | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | |
IM-105 | ..Deprec. & impairm. tangible - logistics | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! |
IM-107 | ..Amort & impairm. intangible - logistics | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! |
IM-109 | ..Deprec. & impairm. tangible - commercial | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! |
IM-111 | ..Amort & impairm. intangible - commercial | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! |
IM-113 | ..Deprec. & impairm. tangible - administrative | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! |
IM-115 | ..Amort & impairm. intangible - administrative | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! |
IM-578-V2 | Deprec & impairm right-of-use assets commercial | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! |
SG&A deprec. & amort. | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | |
IL-060 | Distribution expenses | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! |
IL-070 | Sales expenses | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! |
IL-080 | Marketing expenses | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! |
IL-100 | Administrative expenses | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! |
SG&A total | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | |
IM-120 | Outras receitas/(despesas) operacionais | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! |
Non-recurring items above EBIT | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | |
EBIT | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | |
EBIT Margin | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | |||||||
EBIT ajustado | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | |
% Margem EBIT ajustado | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | |||||||
IM-101 | ..Deprec. & impairm. tangible - prod & pack. | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! |
IM-103 | ..Amort & impairm. intangible - prod & pack | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! |
IM-129 | Impairment of goodwill | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! |
EBITDA | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | |
EBITDA Margin | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | |||||||
IM-095-V2 | Non-recurring items above EBITDA | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! |
EBITDA ajustado | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | |
% Margem EBITDA ajustado | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! | ERROR:#REF! |
Ambev | 2Q20 | IN | OUT | EXT | Scope | Currency Translation | IAS 29 3M Impact | Organic Growth | 2Q21 | % As Reported | % Organic | |
R$ million | ||||||||||||
Volume ('000 hl) | 33,465.6 | - 0 | - 0 | - 0 | - 0 | - 0 | - 0 | 6,342.0 | 39,807.6 | 19.0% | 19.0% | |
IL-010 | Net revenue | 11,615.3 | - 0 | - 0 | 0.2 | 0.2 | (280.1) | 184.3 | 4,191.5 | 15,711.1 | 35.3% | 36.2% |
Net revenue/hl (R$) | 347.1 | - 0 | - 0 | 0.0 | 0.0 | (7.0) | 4.4 | 50.3 | 394.7 | 13.7% | 14.5% | |
IL-030 | COGS | (5,801.9) | - 0 | - 0 | (0.1) | (0.1) | 95.3 | (80.9) | (2,177.7) | (7,965.3) | 37.3% | 37.6% |
COGS/hl (R$) | (173.4) | - 0 | - 0 | (0.0) | (0.0) | 2.4 | (1.9) | (27.2) | (200.1) | 15.4% | 15.7% | |
COGS excl. deprec. & amort. | (5,033.2) | - 0 | - 0 | (0.1) | (0.1) | 53.0 | (71.8) | (2,108.5) | (7,160.6) | 42.3% | 42.0% | |
COGS/hl excl. deprec. & amort. (R$) | (150.4) | - 0 | - 0 | (0.0) | (0.0) | 1.3 | (1.7) | (29.1) | (179.9) | 19.6% | 19.4% | |
IL-040 | Gross profit | 5,813.5 | - 0 | - 0 | 0.1 | 0.1 | (184.8) | 103.4 | 2,013.7 | 7,745.9 | 33.2% | 34.7% |
% Gross margin | 50.0% | 49.3% | -70 bps | -50 bps | ||||||||
SG&A excl. deprec. & amort. | (3,298.8) | - 0 | - 0 | (0.1) | (0.1) | 73.1 | (42.9) | (1,387.6) | (4,656.3) | 41.2% | 42.2% | |
SG&A deprec. & amort. | (533.5) | - 0 | - 0 | - 0 | - 0 | 14.9 | (3.6) | 26.7 | (495.5) | -7.1% | -5.0% | |
SG&A total | (3,832.3) | - 0 | - 0 | (0.1) | (0.1) | 88.0 | (46.5) | (1,360.9) | (5,151.8) | 34.4% | 35.6% | |
IM-120 | Other operating income/(expenses) | 64.9 | - 0 | - 0 | 1,219.2 | 1,219.2 | 6.2 | (0.8) | 105.6 | 1,395.0 | nm | 163.2% |
Normalized EBIT | 2,046.1 | - 0 | - 0 | 1,219.2 | 1,219.2 | (90.6) | 56.1 | 758.4 | 3,989.1 | 95.0% | 37.2% | |
% Normalized EBIT margin | 17.6% | 25.4% | 780 bps | 10 bps | ||||||||
Exceptional items above EBITDA | (127.9) | - 0 | - 0 | - 0 | - 0 | 7.8 | (2.6) | 37.1 | (85.7) | -33.0% | -29.0% | |
Net finance results | (793.7) | (277.3) | -65.1% | |||||||||
Share of results of joint ventures | (16.2) | (9.0) | -44.4% | |||||||||
Income tax expense | 163.1 | (687.5) | nm | |||||||||
Profit | 1,271.3 | 2,929.6 | 130.4% | |||||||||
Attributable to Ambev holders | 1,226.8 | 2,885.8 | 135.2% | |||||||||
Attributable to non-controlling interests | 44.5 | 43.8 | -1.6% | |||||||||
Normalized profit | 1,372.6 | 2,962.7 | 115.9% | |||||||||
Attributable to Ambev holders | 1,327.5 | 2,964.1 | 123.3% | |||||||||
Normalized EBITDA | 3,348.3 | - 0 | - 0 | 1,219.2 | 1,219.2 | (147.9) | 68.7 | 800.9 | 5,289.2 | 58.0% | 24.0% | |
% Normalized EBITDA margin | 28.8% | 33.7% | 490 bps | -260 bps | ||||||||
Ambev | YTD20 | IN | OUT | EXT | Scope | Currency Translation | IAS 29 3M Impact | Organic Growth | YTD21 | % As Reported | % Organic | |
R$ million | ||||||||||||
Volume ('000 hl) | 72,477.1 | - 0 | - 0 | 6.5 | 6.5 | - 0 | - 0 | 10,854.3 | 83,337.8 | 15.0% | 15.0% | |
IL-010 | Net revenue | 24,217.9 | - 0 | - 0 | 6.6 | 6.6 | 252.2 | - 0 | 7,874.1 | 32,350.9 | 33.6% | 32.5% |
Net revenue/hl (R$) | 334.1 | - 0 | - 0 | 0.1 | 0.1 | 3.0 | - 0 | 51.0 | 388.2 | 16.2% | 15.2% | |
IL-030 | COGS | (11,445.1) | - 0 | - 0 | (3.1) | (3.1) | (210.4) | - 0 | (4,252.0) | (15,910.6) | 39.0% | 37.2% |
COGS/hl (R$) | (157.9) | - 0 | - 0 | (0.0) | (0.0) | (2.5) | - 0 | (30.5) | (190.9) | 20.9% | 19.3% | |
COGS excl. deprec. & amort. | (10,009.8) | - 0 | - 0 | (3.1) | (3.1) | (240.9) | - 0 | (4,102.2) | (14,355.9) | 43.4% | 41.0% | |
COGS/hl excl. deprec. & amort. (R$) | (138.1) | - 0 | - 0 | (0.0) | (0.0) | (2.9) | - 0 | (31.2) | (172.3) | 24.7% | 22.6% | |
IL-040 | Gross profit | 12,772.9 | - 0 | - 0 | 3.5 | 3.5 | 41.8 | - 0 | 3,622.1 | 16,440.3 | 28.7% | 28.4% |
% Gross margin | 52.7% | 50.8% | -190 bps | -160 bps | ||||||||
SG&A excl. deprec. & amort. | (6,863.6) | - 0 | - 0 | (3.5) | (3.5) | (77.6) | - 0 | (2,006.8) | (8,951.4) | 30.4% | 29.2% | |
SG&A deprec. & amort. | (1,040.9) | - 0 | - 0 | - 0 | - 0 | (2.1) | - 0 | 34.0 | (1,009.0) | -3.1% | -3.3% | |
SG&A total | (7,904.5) | - 0 | - 0 | (3.5) | (3.5) | (79.7) | - 0 | (1,972.8) | (9,960.5) | 26.0% | 25.0% | |
IM-120 | Other operating income/(expenses) | 236.2 | - 0 | - 0 | 1,219.2 | 1,219.2 | 6.4 | - 0 | 111.2 | 1,572.9 | nm | 47.1% |
Normalized EBIT | 5,104.5 | - 0 | - 0 | 1,219.2 | 1,219.2 | (31.5) | - 0 | 1,760.5 | 8,052.7 | 57.8% | 34.5% | |
% Normalized EBIT margin | 21.1% | 24.9% | 380 bps | 30 bps | ||||||||
IM-095-V2 | Exceptional items above EBITDA | (152.0) | - 0 | - 0 | - 0 | - 0 | 12.7 | - 0 | (17.8) | (157.1) | 3.3% | 11.7% |
Net finance results | (2,330.6) | (1,341.6) | ||||||||||
Share of results of joint ventures | (22.9) | (21.6) | ||||||||||
Income tax expense | (116.5) | (869.6) | ||||||||||
Profit | 2,482.6 | 5,662.9 | 128.1% | |||||||||
Attributable to Ambev holders | 2,318.6 | 5,511.2 | 137.7% | |||||||||
Attributable to non-controlling interests | 164.0 | 151.7 | -7.5% | |||||||||
Normalized profit | 2,600.4 | 5,724.7 | 120.1% | |||||||||
Attributable to Ambev holders | 2,434.8 | 2,684.3 | 10.2% | |||||||||
Normalized EBITDA | 7,580.8 | - 0 | - 0 | 1,219.2 | 1,219.2 | (59.8) | - 0 | 1,876.2 | 10,616.4 | 40.0% | 24.8% | |
% Normalized EBITDA margin | 31.3% | 32.8% | 150 bps | -180 bps |
3.9% | ERROR:#DIV/0! | ERROR:#DIV/0! | ||||||||
Other operating income/(expenses) | 1Q20 | 1Q21 | 2Q20 | 2Q21 | 3Q20 | 3Q21 | 4Q20 | 4Q21 | YTD20 | YTD21 |
R$ million | ||||||||||
Government grants/NPV of long term fiscal incentives | 156.6 | 171.6 | 118.0 | 178.6 | 274.6 | 350.2 | ||||
Credits/(debits) taxes extemporaneous | - 0 | - 0 | 1,219.2 | 1,219.2 | ||||||
(Additions to)/reversals of provisions | (2.6) | (9.0) | (25.7) | (12.5) | (28.2) | (21.5) | ||||
Gain/(loss) on disposal of fixed assets, intangible assets and operations in associates | 16.0 | 12.7 | (17.2) | (1.3) | (1.3) | 11.3 | ||||
Net other operating income/(expenses) | 1.3 | 2.6 | (10.2) | 11.0 | (8.9) | 13.6 | ||||
Other operating income/(expenses) | 171.3 | 177.9 | 64.9 | 1,394.9 | 236.2 | 1,572.9 |
Exceptional Items | 1Q20 | 1Q21 | 2Q20 | 2Q21 | 3Q20 | 3Q21 | 4Q20 | 4Q21 | YTD20 | YTD21 |
R$ million | ||||||||||
Costs from business combination | (16.7) | (16.7) | ||||||||
Result from exchange transaction of shareholdings | ||||||||||
Restructuring | (13.9) | (39.2) | (36.2) | (37.5) | (50.0) | (76.7) | ||||
Disposal of subsidiary | ||||||||||
Aquisition of subsidiary | ||||||||||
IAS 29/CPC 42 (hyperinflation) application effect | - 0 | (1.2) | (0.5) | (2.7) | (0.5) | (3.9) | ||||
COVID-19 impact | (10.2) | (31.1) | (61.3) | (45.5) | (71.5) | (76.6) | ||||
Share based payment | - 0 | - 0 | - 0 | - 0 | ||||||
Other | (13.3) | (13.3) | ||||||||
Exceptional Items | (24.1) | (71.4) | (127.9) | (85.7) | - 0 | - 0 | - 0 | - 0 | (152.0) | (157.1) |
-30.7% | ERROR:#DIV/0! | ERROR:#DIV/0! | ||||||||
Net finance results | 1Q20 | 1Q21 | 2Q20 | 2Q21 | 3Q20 | 3Q21 | 4Q20 | 4Q21 | YTD20 | YTD21 |
R$ million | ||||||||||
Interest income | 147.6 | 107.4 | 149.8 | 520.2 | 297.4 | 627.5 | ||||
Interest expenses | (426.5) | (334.6) | (432.2) | (303.6) | (858.7) | (638.2) | ||||
Gains/(losses) on derivative instruments | (945.4) | (770.9) | (202.6) | (300.2) | (1,148.0) | (1,071.1) | ||||
Gains/(losses) on non-derivative instruments | (206.4) | (165.4) | (150.4) | (110.0) | (356.8) | (275.4) | ||||
Taxes on financial transactions | (86.6) | (11.4) | (48.9) | (57.3) | (135.5) | (68.7) | ||||
Other financial income/(expenses), net | (99.7) | (141.2) | (194.3) | (178.4) | (294.0) | (319.6) | ||||
Exceptional financial income/(expenses), net | - 0 | - 0 | - 0 | - 0 | - 0 | - 0 | ||||
Hyperinflation Argentina | 80.1 | 251.8 | 84.8 | 152.0 | 164.9 | 403.8 | ||||
Net finance results | (1,536.9) | (1,064.3) | (793.7) | (277.3) | (2,330.6) | (1,341.6) |
Debt breakdown | December 31, 2020 | June 30, 2021 | ||||
R$ million | Current | Non-current | Total | Current | Non-current | Total |
Local Currency | 2,232.7 | 1,622.1 | 3,854.8 | 675.4 | 1,755.6 | 2,431.0 |
Foreign Currency | 506.1 | 431.4 | 937.4 | 179.4 | 380.3 | 559.6 |
Consolidated Debt | 2,738.8 | 2,053.5 | 4,792.2 | 854.8 | 2,135.8 | 2,990.6 |
Cash and Cash Equivalents less Bank Overdrafts | 17,090.3 | 13,175.3 | ||||
Current Investment Securities | 1,700.0 | 1,245.6 | ||||
Net debt/(cash) | (13,998.1) | (11,430.3) |
Income tax and social contribution | 1Q20 | 1Q21 | 2Q20 | 2Q21 | 3Q20 | 3Q21 | 4Q20 | 4Q21 | YTD20 | YTD21 |
R$ million | ||||||||||
Profit before tax | 1,490.9 | 2,915.4 | 1,108.2 | 3,617.1 | 2,599.1 | 6,532.5 | ||||
Adjustment on taxable basis | ||||||||||
Non-taxable other income (i) | - 0 | - 0 | - 0 | - 0 | - 0 | - 0 | ||||
Government grants (VAT) | (405.0) | (398.5) | (349.4) | (408.1) | (754.4) | (806.6) | ||||
Share of results of joint ventures | 6.6 | 12.5 | 16.2 | 9.0 | 22.9 | 21.6 | ||||
Expenses not deductible | 12.0 | 15.5 | 22.1 | 27.0 | 34.1 | 42.5 | ||||
Foreign profits taxed in Brazil | - 0 | - 0 | - 0 | - 0 | - 0 | - 0 | ||||
Taxation in universal basis | (34.1) | (80.8) | (1.4) | 21.2 | (158.8) | (112.1) | ||||
1,070.5 | 2,464.2 | 795.7 | 3,266.2 | 1,742.8 | 5,677.9 | |||||
Aggregated weighted nominal tax rate | 29.3% | 28.3% | 24.0% | 28.9% | 26.6% | 28.6% | ||||
Taxes - nominal rate | (314.2) | (697.6) | (190.7) | (944.9) | (462.9) | (1,624.6) | ||||
Adjustment on tax expense | ||||||||||
Income tax incentive | 15.1 | 43.2 | 16.2 | 37.7 | 31.3 | 80.9 | ||||
Tax benefit - interest on shareholders' equity | 141.4 | 592.7 | 534.0 | 438.5 | 675.3 | 1,031.1 | ||||
Tax benefit - amortization on tax books | 19.4 | 19.4 | 19.4 | 19.4 | 38.7 | 38.7 | ||||
Withholding income tax | (241.6) | (289.0) | (173.4) | (23.9) | (415.0) | (312.9) | ||||
Argentina's hyperinflation effect | (19.6) | (14.4) | (10.0) | (46.6) | (29.6) | (61.0) | ||||
Other tax adjustments | 119.8 | 163.7 | (32.2) | (167.5) | 45.6 | (21.7) | ||||
Income tax and social contribution expense | (279.7) | (182.1) | 163.1 | (687.5) | (116.5) | (869.6) | ||||
Effective tax rate | 18.8% | 6.2% | -14.7% | 19.0% | 4.5% | 13.3% |
Ambev S.A.'s shareholding structure | ||
ON | % Outs | |
Anheuser-Busch InBev | 9,728,911,349 | 61.8% |
FAHZ | 1,609,987,301 | 10.2% |
Market | 4,398,262,483 | 27.9% |
Outstanding | 15,737,161,133 | 100.0% |
Treasury | 4,294,062 | |
TOTAL | 15,741,455,195 | |
Free float B3 | 2,910,153,631 | 18.5% |
Free float NYSE | 1,488,108,852 | 9.5% |
Reconciliation - Profit to EBITDA | 1Q20 | 1Q21 | 2Q20 | 2Q21 | 3Q20 | 3Q21 | 4Q20 | 4Q21 | YTD20 | YTD21 |
R$ million | ||||||||||
Profit - Ambev holders | 1,091.8 | 2,625.4 | 1,226.8 | 2,885.8 | 2,318.6 | 5,511.2 | ||||
Non-controlling interest | 119.5 | 107.9 | 44.5 | 43.8 | 164.0 | 151.7 | ||||
Income tax expense | 279.7 | 182.1 | (163.1) | 687.5 | 116.5 | 869.6 | ||||
Profit before taxes | 1,490.9 | 2,915.4 | 1,108.2 | 3,617.1 | 2,599.1 | 6,532.5 | ||||
Share of results of joint ventures | 6.6 | 12.5 | 16.2 | 9.0 | 22.9 | 21.6 | ||||
Net finance results | 1,536.9 | 1,064.3 | 793.7 | 277.3 | 2,330.6 | 1,341.6 | ||||
Exceptional items | 24.1 | 71.4 | 127.9 | 85.7 | 152.0 | 157.1 | ||||
Normalized EBIT | 3,058.5 | 4,063.7 | 2,046.1 | 3,989.1 | 5,104.5 | 8,052.7 | ||||
Depreciation & amortization - total | 1,174.0 | 1,263.5 | 1,302.2 | 1,300.1 | 2,476.2 | 2,563.7 | ||||
Normalized EBITDA | 4,232.5 | 5,327.2 | 3,348.3 | 5,289.2 | 7,580.8 | 10,616.4 |
Ambev - Segment financial information | Brazil | CAC | LAS | Canada | Ambev | ||||||||||||||||
Organic results | Beer | NAB | Total | Consolidated | |||||||||||||||||
2Q20 | 2Q21 | % | 2Q20 | 2Q21 | % | 2Q20 | 2Q21 | % | 2Q20 | 2Q21 | % | 2Q20 | 2Q21 | % | 2Q20 | 2Q21 | % | 2Q20 | 2Q21 | % | |
Volume (000 hl) | 17,951.6 | 20,225.6 | 12.7% | 5,151.6 | 6,493.9 | 26.1% | 23,103.2 | 26,719.4 | 15.7% | 2,089.7 | 3,399.7 | 62.7% | 5,383.3 | 6,825.8 | 26.8% | 2,889.4 | 2,862.6 | -0.9% | 33,465.6 | 39,807.6 | 19.0% |
R$ million | |||||||||||||||||||||
Net revenue | 5,128.6 | 6,449.3 | 25.8% | 726.1 | 1,074.2 | 47.9% | 5,854.7 | 7,523.5 | 28.5% | 1,387.4 | 2,461.5 | 71.6% | 1,863.6 | 2,544.0 | 78.9% | 2,509.6 | 3,182.1 | 3.3% | 11,615.3 | 15,711.1 | 36.2% |
% of total | 44.2% | 41.0% | 6.3% | 6.8% | 50.4% | 47.9% | 11.9% | 15.7% | 16.0% | 16.2% | 21.6% | 20.3% | 100.0% | 100.0% | |||||||
COGS | (2,573.6) | (3,443.6) | 33.8% | (407.6) | (658.0) | 61.4% | (2,981.3) | (4,101.6) | 37.6% | (659.9) | (1,171.2) | 71.4% | (1,119.7) | (1,381.2) | 50.5% | (1,041.1) | (1,311.3) | 2.6% | (5,801.9) | (7,965.3) | 37.6% |
% of total | 44.4% | 43.2% | 7.0% | 8.3% | 51.4% | 51.5% | 11.4% | 14.7% | 19.3% | 17.3% | 17.9% | 16.5% | 100.0% | 100.0% | |||||||
Gross profit | 2,555.0 | 3,005.7 | 17.6% | 318.4 | 416.2 | 30.7% | 2,873.4 | 3,421.9 | 19.1% | 727.6 | 1,290.4 | 71.7% | 744.0 | 1,162.8 | 122.0% | 1,468.5 | 1,870.9 | 3.8% | 5,813.5 | 7,745.9 | 34.7% |
% of total | 43.9% | 38.8% | 5.5% | 5.4% | 49.4% | 44.2% | 12.5% | 16.7% | 12.8% | 15.0% | 25.3% | 24.2% | 100.0% | 100.0% | |||||||
SG&A | (1,725.8) | (2,398.4) | 39.0% | (300.2) | (369.9) | 23.2% | (2,026.1) | (2,768.2) | 36.6% | (323.1) | (530.0) | 57.7% | (707.1) | (827.9) | 52.8% | (776.0) | (1,025.6) | 8.1% | (3,832.3) | (5,151.8) | 35.6% |
% of total | 45.0% | 46.6% | 7.8% | 7.2% | 52.9% | 53.7% | 8.4% | 10.3% | 18.5% | 16.1% | 20.2% | 19.9% | 100.0% | 100.0% | |||||||
Other operating income/(expenses) | 117.2 | 1,189.6 | 20.5% | 23.7 | 200.3 | 25.0% | 140.9 | 1,389.9 | 21.2% | (18.4) | 4.0 | -118.0% | (42.2) | (1.2) | -87.5% | (15.3) | 2.3 | -109.7% | 64.9 | 1,395.0 | 163.2% |
% of total | 180.5% | 85.3% | 36.6% | 14.4% | 217.1% | 99.6% | -28.4% | 0.3% | -65.0% | -0.1% | -23.6% | 0.2% | 100.0% | 100.0% | |||||||
Normalized EBIT | 946.3 | 1,797.0 | -20.9% | 41.9 | 246.6 | 81.1% | 988.2 | 2,043.6 | -16.6% | 386.0 | 764.3 | 92.4% | (5.4) | 333.7 | nm | 677.2 | 847.5 | 1.4% | 2,046.1 | 3,989.1 | 37.2% |
% of total | 46.2% | 45.0% | 2.0% | 6.2% | 48.3% | 51.2% | 18.9% | 19.2% | -0.3% | 8.4% | 33.1% | 21.2% | 100.0% | 100.0% | |||||||
Normalized EBITDA | 1,598.5 | 2,441.6 | -12.8% | 129.0 | 327.9 | 21.9% | 1,727.5 | 2,769.5 | -10.3% | 553.3 | 929.1 | 63.4% | 276.7 | 587.5 | nm | 790.8 | 1,003.1 | 2.9% | 3,348.3 | 5,289.2 | 24.0% |
% of total | 47.7% | 46.2% | 3.9% | 6.2% | 51.6% | 52.4% | 16.5% | 17.6% | 8.3% | 11.1% | 23.6% | 19.0% | 100.0% | 100.0% | |||||||
% of net revenue | |||||||||||||||||||||
Net revenue | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | |||||||
COGS | -50.2% | -53.4% | -56.1% | -61.3% | -50.9% | -54.5% | -47.6% | -47.6% | -60.1% | -54.3% | -41.5% | -41.2% | -50.0% | -50.7% | |||||||
Gross profit | 49.8% | 46.6% | 43.9% | 38.7% | 49.1% | 45.5% | 52.4% | 52.4% | 39.9% | 45.7% | 58.5% | 58.8% | 50.0% | 49.3% | |||||||
SG&A | -33.7% | -37.2% | -41.4% | -34.4% | -34.6% | -36.8% | -23.3% | -21.5% | -37.9% | -32.5% | -30.9% | -32.2% | -33.0% | -32.8% | |||||||
Other operating income/(expenses) | 2.3% | 18.4% | 3.3% | 18.7% | 2.4% | 18.5% | -1.3% | 0.2% | -2.3% | -0.0% | -0.6% | 0.1% | 0.6% | 8.9% | |||||||
Normalized EBIT | 18.5% | 27.9% | 5.8% | 23.0% | 16.9% | 27.2% | 27.8% | 31.1% | -0.3% | 13.1% | 27.0% | 26.6% | 17.6% | 25.4% | |||||||
Normalized EBITDA | 31.2% | 37.9% | 17.8% | 30.5% | 29.5% | 36.8% | 39.9% | 37.7% | 14.8% | 23.1% | 31.5% | 31.5% | 28.8% | 33.7% | |||||||
Per hectoliter - (R$/hl) | |||||||||||||||||||||
Net revenue | 285.7 | 318.9 | 11.6% | 140.9 | 165.4 | 17.4% | 253.4 | 281.6 | 11.1% | 663.9 | 724.0 | 5.5% | 346.2 | 372.7 | 41.1% | 868.5 | 1,111.6 | 4.2% | 347.1 | 394.7 | 15.7% |
COGS | (143.4) | (170.3) | 18.8% | (79.1) | (101.3) | 28.1% | (129.0) | (153.5) | 19.0% | (315.8) | (344.5) | 5.4% | (208.0) | (202.4) | 18.7% | (360.3) | (458.1) | 3.5% | (173.4) | (200.1) | 15.7% |
Gross profit | 142.3 | 148.6 | 4.4% | 61.8 | 64.1 | 3.7% | 124.4 | 128.1 | 3.0% | 348.2 | 379.5 | 5.5% | 138.2 | 170.4 | 84.0% | 508.2 | 653.5 | 4.7% | 173.7 | 194.6 | 14.7% |
SG&A | (96.1) | (118.6) | 23.3% | (58.3) | (57.0) | -2.3% | (87.7) | (103.6) | 18.1% | (154.6) | (155.9) | -3.1% | (131.4) | (121.3) | 25.3% | (268.6) | (358.3) | 9.1% | (114.5) | (129.4) | 14.9% |
Other operating income/(expenses) | 6.5 | 58.8 | -93.7% | 4.6 | 30.9 | -149.5% | 6.1 | 52.0 | -112.3% | (8.8) | 1.2 | -111.0% | (7.8) | (0.2) | -88.9% | (5.3) | 0.8 | -109.8% | 1.9 | 35.0 | -179.6% |
Normalized EBIT | 52.7 | 88.8 | -42.3% | 8.1 | 38.0 | -40.5% | 42.8 | 76.5 | -44.6% | 184.7 | 224.8 | 18.3% | (1.0) | 48.9 | nm | 234.4 | 296.1 | 2.4% | 61.1 | 100.2 | 8.0% |
Normalized EBITDA | 89.0 | 120.7 | -30.0% | 25.0 | 50.5 | -30.7% | 74.8 | 103.7 | -32.0% | 264.8 | 273.3 | 0.4% | 51.4 | 86.1 | 170.7% | 273.7 | 350.4 | 3.9% | 100.1 | 132.9 | 0.1% |
Ambev - Segment financial information | Brazil | CAC | LAS | Canada | Ambev | ||||||||||||||||
Organic results | Beer | NAB | Total | Consolidated | |||||||||||||||||
YTD20 | YTD21 | % | YTD20 | YTD21 | % | YTD20 | YTD21 | % | YTD20 | YTD21 | % | YTD20 | YTD21 | % | YTD20 | YTD21 | % | YTD20 | YTD21 | % | |
Volume (000 hl) | 36,533.1 | 41,774.0 | 14.3% | 11,581.5 | 12,976.4 | 12.0% | 48,114.6 | 54,750.4 | 13.8% | 4,837.8 | 6,424.4 | 32.8% | 14,717.2 | 17,328.9 | 17.7% | 4,807.5 | 4,834.1 | 0.4% | 72,477.1 | 83,337.8 | 15.0% |
R$ million | |||||||||||||||||||||
Net revenue | 10,583.2 | 13,574.1 | 28.3% | 1,796.6 | 2,174.7 | 21.0% | 12,379.8 | 15,748.7 | 27.2% | 2,811.9 | 4,621.0 | 49.6% | 4,983.8 | 6,736.5 | 60.3% | 4,042.5 | 5,244.6 | 2.6% | 24,217.9 | 32,350.9 | 32.5% |
% of total | 43.7% | 42.0% | 7.4% | 6.7% | 51.1% | 48.7% | 11.6% | 14.3% | 20.6% | 20.8% | 16.7% | 16.2% | 100.0% | 100.0% | |||||||
COGS | (4,975.0) | (6,845.1) | 37.6% | (956.3) | (1,238.0) | 29.5% | (5,931.3) | (8,083.1) | 36.3% | (1,338.2) | (2,186.6) | 48.7% | (2,534.3) | (3,485.0) | 54.6% | (1,641.2) | (2,156.0) | 3.9% | (11,445.1) | (15,910.6) | 37.2% |
% of total | 43.5% | 43.0% | 8.4% | 7.8% | 51.8% | 50.8% | 11.7% | 13.7% | 22.1% | 21.9% | 14.3% | 13.6% | 100.0% | 100.0% | |||||||
Gross profit | 5,608.2 | 6,729.0 | 20.0% | 840.2 | 936.7 | 11.5% | 6,448.5 | 7,665.7 | 18.9% | 1,473.6 | 2,434.4 | 50.4% | 2,449.5 | 3,251.6 | 66.1% | 2,401.2 | 3,088.6 | 1.8% | 12,772.9 | 16,440.3 | 28.4% |
% of total | 43.9% | 40.9% | 6.6% | 5.7% | 50.5% | 46.6% | 11.5% | 14.8% | 19.2% | 19.8% | 18.8% | 18.8% | 100.0% | 100.0% | |||||||
SG&A | (3,646.0) | (4,611.2) | 26.5% | (632.3) | (724.9) | 14.6% | (4,278.3) | (5,336.1) | 24.7% | (679.2) | (1,010.6) | 34.5% | (1,517.6) | (1,825.1) | 45.9% | (1,429.4) | (1,788.6) | -1.1% | (7,904.5) | (9,960.5) | 25.0% |
% of total | 46.1% | 46.3% | 8.0% | 7.3% | 54.1% | 53.6% | 8.6% | 10.1% | 19.2% | 18.3% | 18.1% | 18.0% | 100.0% | 100.0% | |||||||
Other operating income/(expenses) | 248.0 | 1,341.9 | 18.3% | 55.3 | 239.7 | 24.6% | 303.4 | 1,581.5 | 19.4% | (13.1) | 4.0 | -125.3% | (25.6) | (5.9) | -49.2% | (28.5) | (6.7) | -81.3% | 236.2 | 1,572.9 | 47.1% |
% of total | 105.0% | 85.3% | 23.4% | 15.2% | 128.4% | 100.5% | -5.5% | 0.3% | -10.8% | -0.4% | -12.1% | -0.4% | 100.0% | 100.0% | |||||||
Normalized EBIT | 2,210.3 | 3,459.7 | 9.1% | 263.3 | 451.4 | 6.6% | 2,473.5 | 3,911.1 | 8.8% | 781.3 | 1,427.9 | 67.2% | 906.4 | 1,420.5 | 103.3% | 943.3 | 1,293.3 | 8.6% | 5,104.5 | 8,052.7 | 34.5% |
% of total | 43.3% | 43.0% | 5.2% | 5.6% | 48.5% | 48.6% | 15.3% | 17.7% | 17.8% | 17.6% | 18.5% | 16.1% | 100.0% | 100.0% | |||||||
Normalized EBITDA | 3,464.8 | 4,705.5 | 5.5% | 440.7 | 623.0 | 2.6% | 3,905.5 | 5,328.5 | 5.2% | 1,076.4 | 1,768.4 | 50.1% | 1,445.7 | 1,958.3 | 72.6% | 1,153.2 | 1,561.2 | 7.2% | 7,580.8 | 10,616.4 | 24.8% |
% of total | 45.7% | 44.3% | 5.8% | 5.9% | 51.5% | 50.2% | 14.2% | 16.7% | 19.1% | 18.4% | 15.2% | 14.7% | 100.0% | 100.0% | |||||||
% of net revenue | |||||||||||||||||||||
Net revenue | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | |||||||
COGS | -47.0% | -50.4% | -53.2% | -56.9% | -47.9% | -51.3% | -47.6% | -47.3% | -50.9% | -51.7% | -40.6% | -41.1% | -47.3% | -49.2% | |||||||
Gross profit | 53.0% | 49.6% | 46.8% | 43.1% | 52.1% | 48.7% | 52.4% | 52.7% | 49.1% | 48.3% | 59.4% | 58.9% | 52.7% | 50.8% | |||||||
SG&A | -34.5% | -34.0% | -35.2% | -33.3% | -34.6% | -33.9% | -24.2% | -21.9% | -30.4% | -27.1% | -35.4% | -34.1% | -32.6% | -30.8% | |||||||
Other operating income/(expenses) | 2.3% | 9.9% | 3.1% | 11.0% | 2.5% | 10.0% | -0.5% | 0.1% | -0.5% | -0.1% | -0.7% | -0.1% | 1.0% | 4.9% | |||||||
Normalized EBIT | 20.9% | 25.5% | 14.7% | 20.8% | 20.0% | 24.8% | 27.8% | 30.9% | 18.2% | 21.1% | 23.3% | 24.7% | 21.1% | 24.9% | |||||||
Normalized EBITDA | 32.7% | 34.7% | 24.5% | 28.6% | 31.5% | 33.8% | 38.3% | 38.3% | 29.0% | 29.1% | 28.5% | 29.8% | 31.3% | 32.8% | |||||||
Per hectoliter - (R$/hl) | |||||||||||||||||||||
Net revenue | 289.7 | 324.9 | 12.2% | 155.1 | 167.6 | 8.0% | 257.3 | 287.6 | 11.8% | 581.2 | 719.3 | 12.7% | 338.6 | 388.7 | 36.1% | 840.9 | 1,084.9 | 2.2% | 334.1 | 388.2 | 15.2% |
COGS | (136.2) | (163.9) | 20.3% | (82.6) | (95.4) | 15.5% | (123.3) | (147.6) | 19.8% | (276.6) | (340.4) | 12.0% | (172.2) | (201.1) | 31.3% | (341.4) | (446.0) | 3.5% | (157.9) | (190.9) | 19.3% |
Gross profit | 153.5 | 161.1 | 4.9% | 72.6 | 72.2 | -0.5% | 134.0 | 140.0 | 4.5% | 304.6 | 378.9 | 13.3% | 166.4 | 187.6 | 41.1% | 499.5 | 638.9 | 1.3% | 176.2 | 197.3 | 11.6% |
SG&A | (99.8) | (110.4) | 10.6% | (54.6) | (55.9) | 2.3% | (88.9) | (97.5) | 9.6% | (140.4) | (157.3) | 1.3% | (103.1) | (105.3) | 23.9% | (297.3) | (370.0) | -1.5% | (109.1) | (119.5) | 8.7% |
Other operating income/(expenses) | 6.8 | 32.1 | -49.6% | 4.8 | 18.5 | -21.9% | 6.3 | 28.9 | -43.7% | (2.7) | 0.6 | -119.1% | (1.7) | (0.3) | -56.9% | (5.9) | (1.4) | -81.3% | 3.3 | 18.9 | -39.3% |
Normalized EBIT | 60.5 | 82.8 | -10.5% | 22.7 | 34.8 | -11.8% | 51.4 | 71.4 | -10.3% | 161.5 | 222.3 | 25.9% | 61.6 | 82.0 | 72.6% | 196.2 | 267.5 | 8.1% | 70.4 | 96.6 | 13.9% |
Normalized EBITDA | 94.8 | 112.6 | -11.5% | 38.1 | 48.0 | -12.6% | 81.2 | 97.3 | -11.3% | 222.5 | 275.3 | 13.0% | 98.2 | 113.0 | 46.6% | 239.9 | 323.0 | 6.8% | 104.6 | 127.4 | 6.4% |
CONSOLIDATED BALANCE SHEET | ||
R$ million | December 31, 2020 | June 30, 2021 |
Assets | ||
Current assets | ||
Cash and cash equivalents | 17,090.3 | 13,269.3 |
Investment securities | 1,700.0 | 1,245.6 |
Derivative financial instruments | 505.9 | 900.1 |
Trade receivables | 4,303.1 | 3,702.2 |
Inventories | 7,605.9 | 9,583.4 |
Income tax and social contributions receivable | 1,759.2 | 1,501.8 |
Other taxes receivable | 1,527.9 | 1,363.4 |
Other assets | 850.1 | 1,140.0 |
Assets held for sale | - 0 | - 0 |
35,342.6 | 32,705.7 | |
Non-current assets | ||
Investment securities | 213.9 | 196.0 |
Derivative financial instruments | 3.4 | 1.1 |
Income tax and social contributions receivable | 4,495.0 | 4,072.7 |
Deferred tax assets | 4,560.8 | 4,578.8 |
Taxes receivable | 5,695.8 | 7,381.8 |
Other assets | 2,141.6 | 1,971.2 |
Employee benefits | 33.6 | 33.2 |
Investments in joint ventures | 337.4 | 310.6 |
Property, plant and equipment | 24,768.4 | 25,702.0 |
Intangible | 7,580.6 | 7,603.2 |
Goodwill | 40,023.5 | 39,883.8 |
89,854.0 | 91,734.5 | |
Total assets | 125,196.6 | 124,440.1 |
Equity and liabilities | ||
Current liabilities | ||
Trade payables | 19,339.2 | 18,818.4 |
Derivative financial instruments | 329.8 | 301.1 |
Interest-bearing loans and borrowings | 2,738.8 | 854.8 |
Bank overdrafts | 94.1 | |
Payroll and social security payables | 925.5 | 1,695.2 |
Dividends and interest on shareholder´s equity payable | 2,454.7 | 1,227.4 |
Income tax and social contribution payable | 1,167.3 | 1,325.8 |
Taxes and contributions payable | 4,549.5 | 2,318.2 |
Other liabilities | 1,848.1 | 1,983.1 |
Provisions | 124.9 | 173.6 |
33,478.0 | 28,791.5 | |
Non-current liabilities | ||
Trade payables | 655.9 | 618.9 |
Derivative financial instruments | 0.02 | |
Interest-bearing loans and borrowings | 2,053.5 | 2,135.8 |
Deferred tax liabilities | 3,043.4 | 2,849.4 |
Income tax and social contribution payable | 1,912.7 | 1,816.8 |
Taxes and contributions payable | 684.3 | 686.3 |
Put option granted on subsidiary and other liabilities | 4,226.7 | 3,615.7 |
Provisions | 447.1 | 412.7 |
Employee benefits | 3,544.0 | 3,411.0 |
16,567.5 | 15,546.8 | |
Total liabilities | 50,045.5 | 44,338.3 |
Equity | ||
Issued capital | 57,899.1 | 58,006.3 |
Reserves | 80,905.6 | 80,953.3 |
Comprehensive income | (64,989.0) | (66,622.7) |
Retained earnings | 6,552.9 | |
Equity attributable to equity holders of Ambev | 73,815.6 | 78,889.8 |
Non-controlling interests | 1,335.5 | 1,212.0 |
Total Equity | 75,151.1 | 80,101.8 |
Total equity and liabilities | 125,196.6 | 124,440.1 |
CONSOLIDATED INCOME STATEMENT | 1Q20 | 1Q21 | 2Q20 | 2Q21 | 3Q20 | 3Q21 | 4Q20 | 4Q21 | YTD20 | YTD21 |
R$ million | ||||||||||
Net revenue | 12,602.6 | 16,639.8 | 11,615.3 | 15,711.1 | 24,217.9 | 32,350.9 | ||||
Cost of goods sold | (5,643.2) | (7,945.3) | (5,801.9) | (7,965.3) | (11,445.1) | (15,910.6) | ||||
Gross profit | 6,959.4 | 8,694.4 | 5,813.5 | 7,745.9 | 12,772.9 | 16,440.3 | ||||
Distribution expenses | (1,851.3) | (2,129.6) | (1,843.1) | (2,360.8) | (3,694.4) | (4,490.4) | ||||
Sales and marketing expenses | (1,555.5) | (1,445.0) | (1,307.1) | (1,648.1) | (2,862.7) | (3,093.1) | ||||
Administrative expenses | (665.3) | (1,234.1) | (682.0) | (1,142.9) | (1,347.4) | (2,376.9) | ||||
Other operating income/(expenses) | 171.3 | 177.9 | 64.9 | 1,395.0 | 236.2 | 1,572.9 | ||||
Normalized EBIT | 3,058.5 | 4,063.7 | 2,046.1 | 3,989.1 | 5,104.5 | 8,052.7 | ||||
Exceptional items | (24.1) | (71.4) | (127.9) | (85.7) | (152.0) | (157.1) | ||||
Income from operations (EBIT) | 3,034.4 | 3,992.3 | 1,918.1 | 3,903.4 | 4,952.5 | 7,895.7 | ||||
Net finance results | (1,536.9) | (1,064.3) | (793.7) | (277.3) | (2,330.6) | (1,341.6) | ||||
Share of results of joint ventures | (6.6) | (12.5) | (16.2) | (9.0) | (22.9) | (21.6) | ||||
Profit before income tax | 1,490.9 | 2,915.4 | 1,108.2 | 3,617.1 | 2,599.1 | 6,532.5 | ||||
Income tax expense | (279.7) | (182.1) | 163.1 | (687.5) | (116.5) | (869.6) | ||||
Profit | 1,211.3 | 2,733.3 | 1,271.3 | 2,929.6 | 2,482.6 | 5,662.9 | ||||
Equity holders of Ambev | 1,091.8 | 2,625.4 | 1,226.8 | 2,885.8 | 2,318.6 | 5,511.2 | ||||
Non-controlling interest | 119.5 | 107.9 | 44.5 | 43.8 | 164.0 | 151.7 | ||||
Basic earnings per share (R$) | 0.07 | 0.17 | 0.08 | 0.18 | 0.15 | 0.35 | ||||
Diluted earnings per share (R$) | 0.07 | 0.17 | 0.08 | 0.18 | 0.15 | 0.35 | ||||
Normalized Profit | 1,227.8 | 2,761.9 | 1,372.6 | 2,962.7 | 2,600.4 | 5,724.7 | ||||
Normalized basic earnings per share (R$) | 0.07 | 0.17 | 0.08 | 0.19 | 0.15 | 0.35 | ||||
Normalized diluted earnings per share (R$) | 0.07 | 0.17 | 0.08 | 0.18 | 0.15 | 0.35 | ||||
Nº of basic shares outstanding (million of shares) | 15,731.4 | 15,735.6 | 15,733.1 | 15,737.0 | 15,732.3 | 15,736.3 | ||||
Nº of diluted shares outstanding (million if shares) | 15,861.2 | 15,870.1 | 15,872.0 | 15,861.5 | 15,871.2 | 15,860.8 |
-1.4% | 103.2% | ERROR:#DIV/0! | ERROR:#DIV/0! | |||||||
CONSOLIDATED STATEMENT OF CASH FLOWS | 1Q20 | 1Q21 | 2Q20 | 2Q21 | 3Q20 | 3Q21 | 4Q20 | 4Q21 | YTD20 | YTD21 |
R$ million | ||||||||||
Profit | 1,211.3 | 2,733.3 | 1,271.3 | 2,929.6 | - 0 | - 0 | - 0 | - 0 | 2,482.6 | 5,662.9 |
Depreciation, amortization and impairment | 1,174.0 | 1,263.5 | 1,302.2 | 1,300.1 | - 0 | - 0 | - 0 | - 0 | 2,476.2 | 2,563.7 |
Impairment losses on receivables and inventories | 53.5 | 27.3 | 137.2 | 48.6 | - 0 | - 0 | - 0 | - 0 | 190.8 | 75.8 |
Additions/(reversals) in provisions and employee benefits | 19.4 | 26.2 | 88.9 | 67.2 | - 0 | - 0 | - 0 | - 0 | 108.3 | 93.4 |
Net finance cost | 1,536.9 | 1,064.3 | 793.7 | 277.3 | - 0 | - 0 | - 0 | - 0 | 2,330.6 | 1,341.6 |
Loss/(gain) on sale of property, plant and equipment and intangible assets | (27.3) | (27.8) | 2.9 | (14.5) | - 0 | - 0 | - 0 | - 0 | (24.4) | (42.4) |
Loss/(gain) on sale of operations in subsidiary | - 0 | - 0 | - 0 | - 0 | - 0 | - 0 | - 0 | - 0 | - 0 | - 0 |
Loss/(gain) on sale of operations in associates | - 0 | - 0 | - 0 | - 0 | - 0 | - 0 | - 0 | - 0 | - 0 | - 0 |
Gains on exchange transaction of shareholdings | - 0 | - 0 | - 0 | - 0 | - 0 | - 0 | - 0 | - 0 | - 0 | - 0 |
Equity-settled share-based payment expense | 51.8 | 105.1 | 52.2 | 94.4 | - 0 | - 0 | - 0 | - 0 | 104.0 | 199.5 |
Income tax expense | 279.7 | 182.1 | (163.1) | 687.5 | - 0 | - 0 | - 0 | - 0 | 116.5 | 869.6 |
Share of result of joint ventures | 6.6 | 12.5 | 16.2 | 9.0 | - 0 | - 0 | - 0 | - 0 | 22.9 | 21.6 |
Other non-cash items included in the profit | (346.8) | (427.2) | (379.4) | (319.7) | - 0 | - 0 | - 0 | - 0 | (726.2) | (746.9) |
Cash flow from operating activities before changes in working capital and provisions | 3,959.0 | 4,959.4 | 3,122.2 | 5,079.5 | - 0 | - 0 | - 0 | - 0 | 7,081.2 | 10,038.8 |
(Increase)/decrease in trade and other receivables | 2,665.9 | 1,464.8 | (1,302.0) | (1,706.0) | - 0 | - 0 | - 0 | - 0 | 1,363.8 | (241.2) |
(Increase)/decrease in inventories | (1,142.7) | (1,722.2) | 10.0 | (518.1) | - 0 | - 0 | - 0 | - 0 | (1,132.7) | (2,240.3) |
Increase/(decrease) in trade and other payables | (2,518.3) | (523.9) | 360.5 | (419.7) | - 0 | - 0 | - 0 | - 0 | (2,157.8) | (943.6) |
Cash generated from operations | 2,963.9 | 4,178.1 | 2,190.7 | 2,435.7 | - 0 | - 0 | - 0 | - 0 | 5,154.5 | 6,613.7 |
Interest paid | (133.0) | (56.2) | (82.6) | (177.6) | - 0 | - 0 | - 0 | - 0 | (215.6) | (266.9) |
Interest received | 133.7 | 54.3 | 137.9 | 56.5 | - 0 | - 0 | - 0 | - 0 | 271.7 | 110.7 |
Dividends received | 0.9 | 2.7 | 3.6 | 0.0 | - 0 | - 0 | - 0 | - 0 | 4.5 | 2.8 |
Income tax and social contributions paid | (1,421.5) | (1,342.0) | (410.8) | (441.0) | - 0 | - 0 | - 0 | - 0 | (1,832.4) | (1,783.0) |
Cash flow from operating activities | 1,544.1 | 2,836.9 | 1,838.8 | 1,873.5 | - 0 | - 0 | - 0 | - 0 | 3,382.8 | 4,677.3 |
Proceeds from sale of property, plant, equipment and intangible assets | 30.2 | 39.7 | 16.8 | 21.9 | - 0 | - 0 | - 0 | - 0 | 47.1 | 61.6 |
Proceeds from sale of operations in subsidiaries | - 0 | 0.4 | 0.4 | |||||||
Acquisition of property, plant, equipment and intangible assets | (1,346.3) | (1,327.3) | (807.1) | (1,639.7) | - 0 | - 0 | - 0 | - 0 | (2,153.5) | (2,967.1) |
Acquisition of subsidiaries, net of cash acquired | (279.3) | (89.0) | (20.7) | (43.9) | - 0 | - 0 | - 0 | - 0 | (300.0) | (132.9) |
Acquisition of other investments | - 0 | (2.6) | (4.3) | (2.7) | - 0 | - 0 | - 0 | - 0 | (4.3) | (5.3) |
(Investments)/net proceeds of debt securities | (75.3) | (349.1) | 0.3 | 809.4 | - 0 | - 0 | - 0 | - 0 | (74.9) | 460.4 |
Net proceeds/(acquisition) of other assets | - 0 | 5.0 | (0.1) | - 0 | - 0 | - 0 | - 0 | 4.9 | ||
Cash flow used in investing activities | (1,670.7) | (1,722.9) | (814.9) | (855.1) | - 0 | - 0 | - 0 | - 0 | (2,485.6) | (2,578.0) |
Capital increase | - 0 | 0.5 | 3.0 | - 0 | - 0 | - 0 | - 0 | 3.4 | ||
Capital increase in non-controling | 0.7 | - 0 | - 0 | - 0 | - 0 | - 0 | 0.7 | |||
Proceeds/(repurchase) of shares | (4.5) | (38.4) | (1.5) | (4.4) | - 0 | - 0 | - 0 | - 0 | (6.0) | (42.8) |
Acquisition of non-controlling interests | - 0 | - 0 | - 0 | - 0 | - 0 | - 0 | - 0 | - 0 | - 0 | - 0 |
Proceeds from borrowings | 86.5 | 107.1 | 3,374.0 | 41.6 | - 0 | - 0 | - 0 | - 0 | 3,460.5 | 148.7 |
Repayment of borrowings | (46.9) | (434.7) | (56.9) | (1,779.9) | - 0 | - 0 | - 0 | - 0 | (103.8) | (2,214.6) |
Cash net finance costs other than interests | (8.1) | 54.7 | (1,191.3) | (1,842.1) | - 0 | - 0 | - 0 | - 0 | (1,199.5) | (1,787.4) |
Payment of lease liabilities | (128.7) | (225.8) | (133.4) | (114.1) | - 0 | - 0 | - 0 | - 0 | (262.1) | (306.9) |
Dividends and interest on shareholders' equity paid | (46.5) | (1,241.1) | (4.7) | (231.9) | - 0 | - 0 | - 0 | - 0 | (51.3) | (1,473.0) |
Cash flow from financing activities | (147.6) | (1,777.8) | 1,986.1 | (3,927.9) | - 0 | - 0 | - 0 | - 0 | 1,838.5 | (5,672.6) |
Net increase/(decrease) in Cash and cash equivalents | (274.2) | (663.8) | 3,009.9 | (2,909.5) | - 0 | - 0 | - 0 | - 0 | 2,735.7 | (3,573.3) |
Cash and cash equivalents less bank overdrafts at beginning of period | 11,900.6 | 17,090.3 | 13,204.5 | 17,286.1 | - 0 | - 0 | - 0 | - 0 | 11,900.6 | 17,090.3 |
Effect of exchange rate fluctuations | 1,578.0 | 859.5 | 533.8 | (1,201.3) | - 0 | - 0 | - 0 | - 0 | 2,111.9 | (341.7) |
Cash and cash equivalents less bank overdrafts at end of period | 13,204.5 | 17,286.1 | 16,748.2 | 13,175.3 | - 0 | - 0 | - 0 | - 0 | 16,748.2 | 13,175.3 |