2014

AmBev Reports Second Quarter 2007 Results

    SAO PAULO, Brazil, Aug. 14 /PRNewswire-FirstCall/ -- Companhia de
 Bebidas das Americas -- AmBev (BOVESPA: AMBV4, AMBV3; NYSE:   ABV, ABVc), the
 world's fifth largest brewer and the leading brewer in Latin America,
 announces today its results for the second quarter 2007 (2Q07). The
 following financial and operating information, unless otherwise indicated,
 is presented in nominal Reais pursuant to Brazilian GAAP.
     AmBev's consolidated results are the sum of the three following
 business units:
     -- Brazil: comprised of (i) Beer Brazil; (ii) CSD & Nanc (Carbonated Soft
        Drinks and Nanc -- Non-Alcoholic, Non-Carbonated beverages); and (iii)
        Malt and By-Products Sales;
     -- Hispanic Latin America (HILA): comprising (i) AmBev's economic stake in
        Quinsa; and (ii) HILA-ex (which corresponds to AmBev's controlled
        operations in Northern Latin America); and
     -- North America: representing the operations of the Canadian Labatt
        Brewing Company Limited ("Labatt").
     Half year figures will also be presented, although analysis will only
 be related to the quarterly performance. Comparisons, unless otherwise
 stated, refer to the second quarter 2006 (2Q06).
     Operating and Financial Highlights
     -- Consolidated EBITDA summed up to R$1,848.0 million (+16.5%). EBITDA
        margin reached 40.8% (+150 bps).
     -- Beer Brazil's EBITDA grew 11.0%, reaching a margin of 47.5%; AmBev
        market share reached 67.3% in 2Q07; and sales volume increased 4.6%.
     -- CSD & Nanc sales volume rose 10.4% in Brazil; EBITDA reached R$160.9
        million, increasing 28.0%, reaching a margin of 33.7% (+230 bps).
     -- Quinsa total EBITDA grew 23.5% in American dollars, and average AmBev
        consolidation in Quinsa throughout the 2Q07 reached 100.0% (2Q06:
        59.8%); EBITDA margin reached 35.7%.
     -- Labatt's EBITDA increased 12.9% in Canadian dollars, with EBITDA margin
        reaching 41.3%.
     -- Earnings per thousand shares dropped 3.2%. Excluding goodwill
        amortization the increase was 13.1%.
 
 
     Financial Highlights -
      AmBev Consolidated                   %                          %
     R$ million          2Q07      2Q06  Change     1H07      1H06  Change
 
     Net revenues     4,525.1   4,037.1   12.1%  9,180.1   8,006.9   14.7%
     Gross profit     2,963.7   2,688.9   10.2%  6,066.8   5,333.7   13.7%
     EBIT             1,526.7   1,216.6   25.5%  3,268.1   2,551.2   28.1%
     EBITDA excluding
      higher stake in
      Quinsa          1,772.0   1,586.3   11.7%  3,666.7   3,295.3   11.3%
     EBITDA (as
      reported)       1,848.0   1,586.3   16.5%  3,879.2   3,295.3   17.7%
     Net income         448.7     483.3   -7.2%  1,094.6   1,139.2   -3.9%
     No. of shares
      outstanding
      (millions)     62,299.8  64,986.8   -4.1% 62,299.8  64,986.8   -4.1%
     EPS (R$/000
      shares)            7.20      7.44   -3.2%    17.57     17.53    0.2%
     EPS excl. goodwill
      amortization
      (R$/000 shares)   13.55     11.98   13.1%    30.29     26.57   14.0%
     EPS (US$/ADR)       0.37      0.34    8.8%     0.87      0.80    8.7%
     EPS excl. goodwill
      amortization
      (US$/ADR)          0.69      0.55   25.5%     1.49      1.22   22.1%
 
     Notes:
     (1) Average exchange rates between Reais and US Dollars used for 1Q07 and
         1Q06 were R$2.10/US$ e R$2.20/US$, respectively.
     (2) The average exchange rates between Reais and Canadian Dollars used for
         1Q07 and 1Q06 were R$1.80/CAD$ e R$1.89/CAD$, respectively.
     (3) Per share calculation is based on outstanding shares (total existing
         shares excluding shares held in treasury).
     (4) Values may not add up due to rounding.
 
 
               The full release is available at www.ambev-ir.com
 
 

SOURCE AmBev

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