SAO PAULO, Brazil, Nov. 9 /PRNewswire-FirstCall/ -- Companhia de
Bebidas das Americas - AmBev (BOVESPA: AMBV4, AMBV3) and (NYSE: ABV, ABVc),
the world's fifth largest brewer and the leading brewer in Latin America,
announces today its results for the third quarter 2006 (3Q06). 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
-- 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 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").
Comparisons, unless otherwise stated, refer to the third quarter 2005
OPERATING AND FINANCIAL HIGHLIGHTS
-- Consolidated EBITDA reached R$1,824.0 million (+18.0%). EBITDA margin
reached 42.1% (+250 bps).
-- Beer Brazil EBITDA's grew 18.0%, achieving 48.2% margin; AmBev market
share reached 68.6% during 3Q06, and sales volume increased 4.3%.
-- CSD & Nanc sales volume rose 10.4% in Brazil; EBITDA amounted to R$
132.4 million, up 4.4% reaching 30.9% margin.
-- Quinsa total EBITDA grew 31.9% in US dollars, excluding the higher
stake from AmBev in Quinsa.
-- Labatt EBITDA increased 4.5% in Canadian dollars, and the EBITDA margin
reached 43.0% in North American operation.
-- Net earnings per thousand shares rose 23.9%. Excluding goodwill
amortization, we observed a 23.4% increase in earnings per thousand
Financial Highlights - AmBev Consolidated %
R$ million 3Q06 3Q05 Change
Net revenues 4,337.3 3,910.3 10.9%
Gross profit 2,857.8 2,518.6 13.5%
EBIT 1,531.5 1,197.6 27.9%
EBITDA 1,824.0 1,546.0 18.0%
Net income 486.1 399.1 21.8%
No. of shares outstanding
(millions) 64,458.2 65,580.1 -1.7%
EPS (R$/000 shares) 7.54 6.09 23.9%
EPS excl. goodwill
amortization (R$/000 shares) 12.77 10.35 23.4%
EPS (US$/ADR) 0.35 0.26 33.6%
EPS excl. goodwill
amortization (US$/ADR) 0.59 0.44 33.1%