BRAZIL: EBITDA up 26% at Ambev in Q1
Owing to the company's merger with the Argentine brewer, Quilmes, AmBev said that the figures were not comparable with the first quarter of 2002. Ambev said the net profit of R$509m included earnings from its 40.5% stake in Quilmes. In the corresponding period in 2002, Ambev recorded a net profit of R$222.8m.
Ambev said that first-quarter consolidated earnings before interest, tax, depreciation and amortisation (EBITDA) rose by 26.1% to R$677.1m (US$232.5m). EBITDA from the company's Brazilian operations rose by 25.1% to R$637.2m.
Consolidated net revenues rose by 11.3% in the first quarter to R$1.99 billion from R$1.78 billion in the first quarter of 2002.
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