Ambev Records 9.6% Sales Growth In Q3
Ambev, the Latin American unit of brewing company AB Inbev, posted sales of R$11.36 billion (€2.98 billion) in the third quarter of the year, representing organic growth of 9.6%.
This figure was boosted by strong performance in Brazil (+9.7%), South America (+21.3%) and Central America and the Caribbean (+7.5%).
The drinks maker saw net profit drop by 95% in the third quarter, falling to R$136.5 million (€35.9 million).
However, this was due to the fact that the company joined Refis, a tax debt repayment programme. Ambev's adjusted net profit was R$3.23 billion (+1.2% year-on-year).
In the company's biggest market, Brazil, revenue rose by 9.7% to R$6 billion, but volume fell by 4% to 24.7 million hectolitres.
Beer sales, in particular, decreased in volume to 18.5 million hl (-5.4%), while revenue grew to R$5.2 billion (+9.6%).
In spite of these volume declines, Ambev says that its total beer figures for the year so far remain above the industry average.
Meanwhile, in Central America and the Caribbean, organic volumes were flat, affected by a severe hurricane season.
Volumes were up by 4.5% in Latin America South, with strong performances in Argentina and Paraguay, however, dropped by 2.9% in Canada, due to unfavourable weather.
© 2017 European Supermarket Magazine – your source for the latest retail news. Article by Branislav Pekic. Click subscribe to sign up to ESM: The European Supermarket Magazine