Ambev(US:ABEV)2023-10-31 18:00Financial Performance Highlights - Ambev's net revenue increased by 19% in 3Q23 and 22% in 9M23[7] - Normalized EBITDA grew by 44% in 3Q23, or 31% excluding Argentina, and 40% in 9M23, or 23% excluding Argentina[7] - Gross Margin and EBITDA Margin increased by 210 bps and 560 bps respectively in 3Q23, and 230 bps and 400 bps respectively in 9M23[7] - Cash Flow from Operating Activities increased by R$1.8 billion (nominal) in 3Q23 and R$1.9 billion (nominal) in 9M23[7] Regional Performance - CAC (presumably a region) experienced a volume increase of 13.6%, NR/hl (Net Revenue per hectoliter) increase of 7.6%, EBITDA increase of 62.3%, and EBITDA Margin increase of 940 bps[27] - Canada saw a volume decrease of 13.1%, NR/hl increase of 6.7%, EBITDA increase of 3.5%, and EBITDA Margin increase of 310 bps[37] Brand Performance - Premium and super premium beer volume experienced low teens growth[8] - Value beer volume decreased by 40's%[8] Digital Initiatives - Annualized GMV (Gross Merchandise Value) increased by 30% year-over-year[38] - BEES customer on marketplace increased by 80%[38] - SKU (Stock Keeping Unit) / POC (Proof of Concept) increased by 21% year-over-year[38] - MAU (Monthly Active Users) reached 4.7 million[38] - GMV increased by 8% year-over-year[38] - Awareness increased by 25% year-over-year[38]