ABEV - Ambev Non-GAAP EPS of R$0.24 revenue of R$22.01B

Ambev (NYSE:ABEV): Q4 Non-GAAP EPS of R$0.24. Revenue of R$22.01B (+18.6% Y/Y). Cash flow from operating activities increased 40.5% to R$11,792.5M compared to R$8,393.6M in 4Q20. Volumes grew by 0.8% versus 4Q20 and 8.6% versus 4Q19, with eight of our top-ten markets once again growing above 2019. Normalized EBITDA declined 1.7% in 4Q21 driven mainly by impact of FX and commodities prices, higher SG&A, which was affected mostly by higher variable compensation accruals. 2022 Outlook: "We expect COVID-19 to continue bringing challenges and short-term volatility. However, we will work to deliver organic Normalized EBITDA growth in 2022 ahead of our 2021 performance on a consolidated basis."

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Ambev Non-GAAP EPS of R$0.24, revenue of R$22.01B