Ambev Q3 Profit Down On Lower Volume - Quick Facts

(RTTNews) - Brazilian brewer Companhia de Bebidas Das Americas., or Ambev, (ABV) reported Thursday that its third-quarter profit -Ambev holders declined to 2.28 billion Brazilian Real from last year's 2.48 billion real. Earnings per share were 0.73 real, lower than last year's 0.79 real.

Normalized profit was 2.29 billion real or 0.73 real per share, compared to last year's 2.49 billion real or 0.80 real per share.

Net revenues declined to 39.27 billion real from 40.53 billion real last year. On an organic basis, revenues increased 4 percent, with a volume decline of 3.1 percent being more than offset by 7.3 percent growth in net revenue per hectoliter.

The company noted that industry softness in Brazil, Canada, and, to a lesser extent, Argentina, continued to impact volume performance.

Normalized EBITDA grew 9.4 percent organically to 4.20 billion real. Gross margin performance improved driven by less contraction in Brazil and expansion in international divisions.