AmBev Announces Net Income of R$434 Million in the 4Q03 and R$1.4 Billion in 2003, LTM EBITDA Was R$3.1 Billion.Business Editors SAO Sa´o n. 1. (Zool.) Any marine annelid of the genus Hyalinæcia, especially H. tubicola of Europe, which inhabits a transparent movable tube resembling a quill in color and texture. PAULO, Brazil--(BUSINESS WIRE)--March 3, 2004 Companhia de Bebidas das Americas - AmBev (NYSE NYSE See: New York Stock Exchange :ABV ABV Above ABV Alcohol By Volume ABV Abuja, Nigeria (airport code) ABV Assault Breacher Vehicle ABV Accredited Business Valuation specialist ABV Auxiliary Building Ventilation ABV Annual Buy Value ABV Air Bleed Valve ) (NYSE:ABVc) (BOVESPA See Bolsa de Valores de Sao Paulo. :AMBV4) (BOVESPA:AMBV3), the world's fifth largest brewer and Brazil's leading beverage company, today announced its results for the fourth quarter (4Q03) and full year 2003. The following financial and operating information, unless otherwise indicated, is presented in nominal Reais pursuant to Brazilian Corporate Law. AmBev's Brazilian operations are comprised of the Brazilian beer segment, the Brazilian soft drinks and non-alcoholic non-carbonated (Nanc) segment and the other products segment. AmBev's consolidated operations are comprised of AmBev's Brazilian operations and its international operations, which include AmBev's 48.99% average economic stake in Quinsa in the quarter and other international operations (Venezuela, Guatemala, Peru and Ecuador). Comparisons, unless otherwise stated, refer to the fourth quarter (4Q02) and full year 2002. Operating and Financial Highlights -- Total Brazilian beer volumes sold through our proprietary distribution network reached 38.1% in the quarter; Direct distribution for Brazilian operations accounted for 41.9% of total volumes sold. -- On the soft drink and Nanc segment, our "right fews" strategy continuous to bear strong results; EBITDA (Earnings Before Interest, Taxes, Depreciation and Amortization) A metric used to show a company's profitability, but not its cash flow. EBITDA became popular in the 1980s to show the potential profitability of leveraged buyouts, but has become margin for this segment reached 25.4% in the quarter. -- As anticipated in the last two conference calls, our cash COGS per hectoliter hec·to·li·ter n. Abbr. hl A metric unit of volume equal to 100 liters. Noun 1. hectoliter - a metric unit of volume or capacity equal to 100 liters hectolitre, hl declined on a sequential basis; Adjusting for the seasonal change in the package mix, cash COGS per hectoliter in the 4Q03 was 4.7% below the previous quarter. -- AmBev continues to consolidate its strategic position in South and Central America. An adequate combination of strategic alliance, joint venture, greenfield projects and acquisitions drove our international operations' EBITDA to R$256.9 MM in 2003, or 8.4% of our consolidated EBITDA in the year; EBITDA margin reached 24.6%. Full Earnings Release is available for download directly at the address: http://www.mzconsult.com.br/ambev/abv_4Q03_eng.pdf Conference Call: Friday, March 5th, 2004 - 11:00 am - US Eastern Time Numbers: US/Canada Participants: (+1 973) 582-2737 Toll Free (Brazil): (0800) 891-5046 Toll Free (UK): (0800) 068-9199 Conference Call ID: AmBev SPEAKERS: Carlos Brito, COO for Brazilian Operations; Juan Vergara, COO for International Operations; Luiz Fernando, Sales and Distribution Director; Felipe Dutra, CFO See Chief Financial Officer. and Investor Relations Investor relations The process by which the corporation communicates with its investors. Director; Miguel Patricio, Marketing Director; and Joao Castro Neves, CSD/NANC Director. Simultaneous webcast (listen only mode): www.ambev-ir.com |
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