Form 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16]
October 31 2023 - 9:30AM
Edgar (US Regulatory)
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 6-K
Report of Foreign Private Issuer
Pursuant to Rule 13a-16 or 15d-16 of the
Securities Exchange Act of 1934
For the month of October, 2023
Commission File Number 1565025
AMBEV S.A.
(Exact name of registrant as specified in its
charter)
AMBEV S.A.
(Translation of Registrant's name into English)
Rua Dr. Renato Paes de Barros, 1017 - 3rd
Floor
04530-000 São Paulo, SP
Federative Republic of Brazil
(Address of principal executive office)
Indicate by check mark whether the
registrant files or will file annual reports under cover Form 20-F or Form 40-F.
Form 20-F ___X___ Form 40-F _______
Indicate
by check mark whether the registrant by furnishing the information contained in this Form is also thereby furnishing the information
to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.
Yes _______ No ___X____
3Q23
Earnings Call October 31 st , 2023
This presentation
was prepared by Ambev S A ..(“ or “ for the exclusive use in the earnings conference call of the third quarter of 2023 3
Q 23 This presentation should not be considered as a complete document and should be analyzed together with the Company’s quarterly
information form ( for the third quarter and the respective press release, both available on the U S Securities and Exchange Commission
SEC and the CVM website This presentation was prepared for informational purposes only and should not be considered as a solicitation
or offer to buy or sell any securities of the Company, or as advice or recommendation of any nature This presentation is not intended
to be comprehensive, or to contain all the information that Ambev’s shareholders might need No decisions on investment, disposal
or any other financial decisions or actions shall be made solely on the basis of the information contained herein This presentation segregates
the impact of organic changes from those arising from changes in scope or currency translation Scope changes represent the impact of
acquisitions and divestitures, the start up or termination of activities or the transfer of activities between segments, curtailment
gains and losses and year over year changes in accounting estimates and other assumptions that management does not consider as part of
the underlying performance of the business Organic growth and normalized numbers are presented applying constant year over year exchange
rates to exclude the impact of the movement of foreign exchange rates Unless stated, percentage changes in this press release are both
organic and normalized in nature Whenever used in this document, the term “ refers to performance measures EBITDA and Operating
Profit before exceptional items and share of results of joint ventures and to performance measures Profit and EPS before exceptional
items adjustments Exceptional items are either income or expenses which do not occur regularly as part of the normal activities of the
Company They are presented separately because they are important for the understanding of the underlying sustainable performance of the
Company due to their size or nature Normalized measures are additional measures used by management and should not replace the measures
determined in accordance with IFRS as indicators of the Company’s performance Comparisons, unless otherwise stated, refer to the
third quarter of 2022 3 Q 22 Values in this release may not add up due to rounding
2Q23 Recap
Continued focus on operational leverage in H2 Short term points of attention: Brazil industry evolution & Argentina operating environment
1 2
Continued
focus on operational leverage in H2 Short term points of attention: Brazil industry evolution & Argentina operating environment
3Q23 Highlights
3Q23 (org vs 9M23 (org vs +19% +44% +210 bps +560 bps Cash Flow from Operating Activities +R$1.8b (nominal) +31% ex-ARG Norm. EBITDA
Net Revenue Gross Margin EBITDA Margin +22% +40% +230 bps +400 bps +R$1.9b (nominal)
Beer Premium
and super premium volume + low teens vs LY Value volume - 40’s% Premium and super premium market share
Beer Volume
NR/hl EBITDA - 1.1% +6.8% +34.7% EBITDA Mg% +720 bps
NAB Volume
NR/hl EBITDA +2.8% +2.3% +0.9% EBITDA Mg% - 100 bps
Volume
NR/hl EBITDA +13.6% +7.6% +62.3% EBITDA Mg% +940 bps vs LY (org) CAC
Volume
NR/hl EBITDA - 9.4% +91.4% +93.9% EBITDA Mg% +360 bps vs LY (org) LAS
Volume
NR/hl EBITDA EBITDA Mg% vs LY (org) - 13.1% +6.7% +3.5% CANADA +310 bps
Annualized
GMV +30% vs LY BEES customer on marketplace +80% SKU / POC +21% vs LY Awareness +25% vs LY MAU 4.7 M GMV +8% vs LY
Historic
Net Revenue organic growth 28% 36% 21% 16% 19% 20% 19% 22% 26% 20% 19% 1Q21 2Q21 3Q21 4Q21 1Q22 2Q22 3Q22 4Q22 1Q23 2Q23 3Q23 24% 24%
9% -2% 10% 18% 11% 27% 40% 34% 44% 1Q21 2Q21 3Q21 4Q21 1Q22 2Q22 3Q22 4Q22 1Q23 2Q23 3Q23 Historic EBITDA organic growth
Historic
EBITDA Margin organic growth -110 bps -260 bps -310 bps -570 bps -220 bps -40 bps -210 bps 160 bps 310 bps 300 bps 560 bps 1Q21 2Q21
3Q21 4Q21 1Q22 2Q22 3Q22 4Q22 1Q23 2Q23 3Q23
Normalized
Profit Normalized Profit 3Q22 1.0 Normalized EBITDA - 0.1 D&A 0.4 Financial Results - 0.5 Income Taxes 0.0 Others Normalized Profit
3Q23 3.2 4.0 +25.1% R$ billions
Cash Flow
from Operating Activities 3Q22 1.0 Before change in Working Capital 0.5 Change Working Capital Cash Generated from Operations 0.3 Income
Tax and Social Cont. 0.0 Others 3Q23 6.1 7.6 7.9 +30% R$ billions
Q&A
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
Date: October 31, 2023
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AMBEV S.A. |
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By: |
/s/ Lucas Machado Lira |
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Lucas Machado Lira
Chief Financial and Investor Relations Officer |
Ambev (NYSE:ABEV)
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