Ambev S.A. (BVMF: ABEV3)

Ambev Income Statement

Financials in millions BRL. Fiscal year is January - December.

Fiscal Year	TTM	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019
Period Ending	Jun 30, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Revenue	80,628	79,737	79,709	72,854	58,379	52,005
Revenue Growth (YoY)	-2.52%	0.04%	9.41%	24.80%	12.26%	3.53%
Cost of Revenue	39,643	39,292	40,422	35,660	27,066	21,678
Gross Profit	40,984	40,445	39,287	37,195	31,313	30,327
Selling, General & Admin	23,815	23,551	24,077	21,961	17,685	15,433
Other Operating Expenses	-2,178	-1,943	-2,425	-2,058	-2,652	-1,442
Operating Expenses	21,636	21,608	21,652	19,903	15,033	13,991
Operating Income	19,348	18,837	17,635	17,291	16,280	16,336
Interest Expense	-2,208	-2,432	-2,328	-1,432	-1,787	-1,556
Interest & Investment Income	2,422	2,205	2,205	1,144	2,256	1,068
Earnings From Equity Investments	-203.83	-185.41	-29.11	-115.7	-43.28	-22.31
Currency Exchange Gain (Loss)	-1,154	-1,154	-751.07	-453.88	-706.37	-637.16
Other Non Operating Income (Expenses)	-1,418	-2,021	-3,588	-2,981	-2,319	-2,043
EBT Excluding Unusual Items	16,785	15,249	13,143	13,453	13,681	13,145
Merger & Restructuring Charges	-82.04	-109.37	-101.74	-165.4	-164.7	-101.77
Gain (Loss) on Sale of Investments	-	-	-	-76.69	-51.54	-43.2
Gain (Loss) on Sale of Assets	85.67	86.36	88.76	142.81	78.76	73.91
Legal Settlements	-363.86	-363.86	-456.63	-290	-208.79	-163.86
Other Unusual Items	268.5	173.82	1,562	694.98	160.07	32.54
Pretax Income	16,693	15,036	14,236	13,759	13,494	12,943
Income Tax Expense	1,894	75.48	-655.62	636.58	1,763	754.67
Earnings From Continuing Operations	14,800	14,960	14,891	13,123	11,732	12,188
Minority Interest in Earnings	-403.54	-458.52	-433.35	-451.61	-352.52	-408.37
Net Income	14,396	14,502	14,458	12,671	11,379	11,780
Net Income to Common	14,396	14,502	14,458	12,671	11,379	11,780
Net Income Growth	0.83%	0.30%	14.10%	11.35%	-3.40%	7.14%
Shares Outstanding (Basic)	15,743	15,745	15,742	15,737	15,733	15,727
Shares Outstanding (Diluted)	15,831	15,839	15,849	15,857	15,868	15,869
Shares Change (YoY)	-0.08%	-0.06%	-0.06%	-0.06%	-0.01%	0.08%
EPS (Basic)	0.91	0.92	0.92	0.81	0.72	0.75
EPS (Diluted)	0.91	0.92	0.91	0.80	0.72	0.74
EPS Growth	0.90%	0.36%	14.17%	11.42%	-3.39%	7.05%
Free Cash Flow	20,349	18,707	14,109	15,224	14,163	13,312
Free Cash Flow Per Share	1.29	1.18	0.89	0.96	0.89	0.84
Dividend Per Share	0.730	0.730	0.762	0.604	0.490	0.491
Dividend Growth	-4.21%	-4.21%	26.29%	23.08%	-0.04%	2.21%
Gross Margin	50.83%	50.72%	49.29%	51.05%	53.64%	58.32%
Operating Margin	24.00%	23.62%	22.12%	23.73%	27.89%	31.41%
Profit Margin	17.85%	18.19%	18.14%	17.39%	19.49%	22.65%
Free Cash Flow Margin	25.24%	23.46%	17.70%	20.90%	24.26%	25.60%
EBITDA	23,430	23,456	22,344	21,364	20,619	20,361
EBITDA Margin	29.06%	29.42%	28.03%	29.32%	35.32%	39.15%
D&A For EBITDA	4,082	4,619	4,710	4,073	4,339	4,025
EBIT	19,348	18,837	17,635	17,291	16,280	16,336
EBIT Margin	24.00%	23.62%	22.12%	23.73%	27.89%	31.41%
Effective Tax Rate	11.35%	0.50%	-	4.63%	13.06%	5.83%

Source: S&P Capital IQ. Standard template. Financial Sources.