BRAZIL: AmBev reports strong Q1
AmBev enjoyed strong beer sales in Brazil in Q1
Strong beer sales in Brazil and northern Latin America drove a solid first quarter for AmBev, the division of Anheuser-Busch InBev.
AmBev today (5 May) reported net sales of BRL6.1bn (US$3.46bn) for the three months to the end of March, up 16.5% on a like-for-like basis against the same period of 2009. Without currency gains, sales rose by 8%.
Strong demand for beer in Brazil, as well as gains across Northern Latin America and Canada drove the brewer to an 11.6% rise in volume sales for the quarter. Soft drinks volumes rose by 2.6% on a like-for-like basis.
AmBev's results helped parent group Anheuser-Busch InBev to offset tough times for its beer divisions in Western Europe and the US during the three months.
AmBev net profits rose by 4% for the period, to BRL1.65bn versus BRL1.58bn a year earlier. However, group EBITDA fell by 1% to BRL2.8bn, due to higher costs and increased marketing spend in preparation for promoions around the FIFA World Cup.
To read the official release, click here.
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