ABEV - Ambev Non-GAAP EPS of R$0.33 revenue of R$22.69B

• Ambev press release ( NYSE: ABEV ): Q4 Non-GAAP EPS of R$0.33.
• Revenue of R$22.69B (+3.1% Y/Y).
• Outlook: " In FY23, as we look to sustain our top line momentum built over the past three years, we expect our net revenue growth to be more driven by net revenue per hectoliter performance than volumes. In terms of costs, we expect to face less input cost pressure than in FY22: our average BRL/USD hedge rate for 2023 is 5.10 (-4.7%), and aluminum hedges are also a tailwind. Assuming current commodity prices, we expect our Cash COGS per hectoliter in Brazil Beer (excluding non-Ambev marketplace products) to increase between 6.0-9.9%, weighted more towards the first half of the year given the timing of commodity hedges.
• Profitability will remain a priority, both in terms of return on invested capital, as well as margins. We will work to deliver Normalized EBITDA growth on a consolidated basis ahead of our 17.1% growth in 2022."

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