Ambev S.A. (ABEV) Q3 2022 Earnings Call Transcript

Ambev S.A. (NYSE:ABEV) Q3 2022 Results Conference Call October 27, 2022 11:30 AM ET

Company Participants

Jean Jereissati - Chief Executive Officer

Lucas Lira - Chief Financial Officer and Investor Relations Officer

Conference Call Participants

Alan Alanis - Santander

Marcella Recchia - Credit Suisse

Lucas Ferreira - JPMorgan

Thiago Duarte - BTG Pactual

Carlos Laboy - HSBC

Ricardo Alves - Morgan Stanley

Operator

Good morning and thank you for waiting. We would like to welcome everyone to Ambev Third Quarter 2022 Results Conference Call today. With this we have Mr. Jean Jereissati, CEO for Ambev; and Mr. Lucas Lira, CFO and Investor Relations Officer.

As a reminder, a slide presentation is available for downloading on our website ri.ambev.com.br, as well as through the webcast link of this call.

We would like to inform you that this event is being recorded and all participants will be in a listen-only mode during the conference presentation. After Ambev’s remarks are completed there will be a question and answer session, by that tie further instructions will be given. [Operator Instruction]

Before proceeding, let me mention that forward-looking statements are being made under the Safe Harbor of the Security Litigation Reform Act of 1996. Forward-looking statements are based on the beliefs and assumptions of Ambev's management and on information currently available to the company. They involve risks, uncertainties, and assumptions because they relate to future event and therefore, depend on circumstances that may or may not occur in the future. Investors should understand that general economic conditions, industry conditions, and other operating factors could also affect the future results of Ambev and could cause results to differ materially from those express and such forward-looking statements.

I would also like to remind everyone that as useful, the percentage changes that will be discussed during today's call are both organic and normalize it nature, and unless otherwise stated, percentage changes refer to comparisons with 3Q 2022 results. Normalized figures, refer to performance measures before exceptional items, which are either e-comp or expenses that do not occur regularly as part of Ambev’s normal activities. As normalized figures are non-GAAP measures, the company’s discloses the consolidated profit EPS operating profit and EBITDA on a fully reported basis in the earnings release.

Now I will turn the conference over to Mr. Jean Jereissati, CEO for Ambev. Mr. Jereissati, you may begin your conference call.