| Schedule of segment reporting |
| Schedule of segment reporting |
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|
|
|
|
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|
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| |
Brazil |
CAC |
Latin America – South |
Canada |
Consolidated |
| |
2025 |
2024 |
2023 |
2025 |
2024 |
2023 |
2025 |
2024 |
2023 |
2025 |
2024 |
2023 |
2025 |
2024 |
2023 |
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Net sales |
49,030.8 |
48,605.4 |
46,361.7 |
10,963.9 |
11,023.7 |
10,044.8 |
17,988.3 |
19,829.7 |
13,797.2 |
10,259.5 |
9,993.9 |
9,533.2 |
88,242.5 |
89,452.7 |
79,736.9 |
| Cost of sales |
(24,254.9) |
(23,809.3) |
(23,516.1) |
(5,022.3) |
(5,076.2) |
(5,035.1) |
(9,263.6) |
(10,460.4) |
(6,657.3) |
(4,323.3) |
(4,269.2) |
(4,083.1) |
(42,864.1) |
(43,615.1) |
(39,291.6) |
| Gross profit |
24,775.9 |
24,796.1 |
22,845.6 |
5,941.6 |
5,947.5 |
5,009.7 |
8,724.7 |
9,369.3 |
7,139.9 |
5,936.2 |
5,724.7 |
5,450.1 |
45,378.4 |
45,837.6 |
40,445.3 |
| Distribution expenses |
(6,131.8) |
(6,423.9) |
(6,428.6) |
(893.0) |
(927.6) |
(853.1) |
(2,148.0) |
(2,388.9) |
(1,614.3) |
(1,756.1) |
(1,816.7) |
(1,854.6) |
(10,928.9) |
(11,557.1) |
(10,750.6) |
| Sales and marketing expenses |
(4,761.0) |
(4,876.3) |
(4,477.0) |
(772.5) |
(792.1) |
(665.1) |
(1,645.4) |
(1,932.6) |
(1,190.0) |
(1,169.2) |
(1,033.2) |
(1,080.4) |
(8,348.1) |
(8,634.2) |
(7,412.5) |
| Administrative expenses |
(3,769.0) |
(3,860.2) |
(3,563.2) |
(404.6) |
(490.2) |
(413.0) |
(979.5) |
(1,094.4) |
(659.5) |
(709.8) |
(756.3) |
(638.0) |
(5,862.9) |
(6,201.1) |
(5,273.7) |
| Other operating income/(expenses) |
2,370.8 |
2,415.8 |
1,892.5 |
(22.2) |
(13.5) |
26.3 |
94.4 |
45.8 |
95.0 |
(7.1) |
9.2 |
15.1 |
2,435.9 |
2,457.3 |
2,028.9 |
| Exceptional items |
(36.0) |
(16.2) |
(137.8) |
824.7 |
(9.8) |
(17.9) |
(120.2) |
(51.6) |
(47.6) |
(25.2) |
(23.2) |
(3.1) |
643.3 |
(100.8) |
(206.4) |
| Income from operations |
12,448.9 |
12,035.3 |
10,131.5 |
4,674.0 |
3,714.3 |
3,086.9 |
3,926.0 |
3,947.6 |
3,723.5 |
2,268.8 |
2,104.5 |
1,889.1 |
23,317.7 |
21,801.7 |
18,831.0 |
| Net financial results |
|
|
|
|
|
|
|
|
|
|
|
|
(4,001.8) |
(2,318.3) |
(3,609.8) |
| Share of results of associates and joint ventures |
|
|
|
|
|
|
|
|
|
|
|
|
105.8 |
3.9 |
(185.3) |
| Income before income tax |
|
|
|
|
|
|
|
|
|
|
|
|
19,421.7 |
19,487.3 |
15,035.9 |
| Income tax expenses |
|
|
|
|
|
|
|
|
|
|
|
|
(3,433.3) |
(4,640.4) |
(75.5) |
| Net income |
|
|
|
|
|
|
|
|
|
|
|
|
15,988.4 |
14,846.9 |
14,960.4 |
| |
|
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|
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|
|
|
|
| Acquisitions of property, plant and equipment |
3,045.3 |
2,838.0 |
3,365.5 |
603.7 |
558.8 |
593.4 |
651.3 |
982.8 |
782.2 |
290.2 |
369.5 |
1,263.0 |
4,590.5 |
4,749.1 |
6,004.1 |
(continued)
| |
Brazil |
CAC |
Latin America - South |
Canada |
Consolidated |
| |
2025 |
2024 |
2023 |
2025 |
2024 |
2023 |
2025 |
2024 |
2023 |
2025 |
2024 |
2023 |
2025 |
2024 |
2023 |
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Segment assets |
58,540.0 |
57,776.0 |
56,974.2 |
14,331.9 |
16,742.1 |
13,692.3 |
23,344.5 |
28,247.8 |
16,085.1 |
16,783.6 |
18,394.3 |
15,856.9 |
113,000.0 |
121,160.2 |
102,608.5 |
| Inter-segment eliminations |
|
|
|
|
|
|
|
|
|
|
|
|
(3,067.6) |
(4,607.7) |
(2,162.1) |
| Non-segmented assets (i) |
|
|
|
|
|
|
|
|
|
|
|
|
35,154.8 |
45,955.8 |
32,197.9 |
| Total assets |
|
|
|
|
|
|
|
|
|
|
|
|
145,087.2 |
162,508.3 |
132,644.3 |
| |
|
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|
|
| Segment liabilities |
32,120.9 |
34,429.6 |
28,841.3 |
5,297.5 |
6,814.2 |
4,981.5 |
7,078.6 |
9,146.1 |
5,095.4 |
4,260.6 |
4,976.6 |
5,131.0 |
48,757.6 |
55,366.5 |
44,049.2 |
| Inter-segment eliminations |
|
|
|
|
|
|
|
|
|
|
|
|
(3,067.5) |
(4,607.7) |
(2,161.8) |
| Non-segmented liabilities (i) |
|
|
|
|
|
|
|
|
|
|
|
|
99,397.1 |
111,749.5 |
90,756.9 |
| Total liabilities |
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|
|
|
|
|
|
|
|
|
|
|
145,087.2 |
162,508.3 |
132,644.3 |
| (i) | | The balance of non-segmented assets refers mainly to cash and cash equivalents, taxes and
investments. The balance of non-segmented liabilities refers mainly to equity values, taxes and derivatives. |
|
| Schedule of additional information |
| Schedule of additional information |
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| |
Brazil |
| |
Beer |
NAB |
Total |
| |
2025 |
2024 |
2023 |
2025 |
2024 |
2023 |
2025 |
2024 |
2023 |
| |
|
|
|
|
|
|
|
|
|
| Net sales |
40,230.7 |
40,220.2 |
38,985.9 |
8,800.1 |
8,385.2 |
7,375.8 |
49,030.8 |
48,605.4 |
46,361.7 |
| Cost of sales |
(19,380.5) |
(19,282.4) |
(19,377.7) |
(4,874.4) |
(4,526.9) |
(4,138.4) |
(24,254.9) |
(23,809.3) |
(23,516.1) |
| Gross profit |
20,850.2 |
20,937.8 |
19,608.2 |
3,925.7 |
3,858.3 |
3,237.4 |
24,775.9 |
24,796.1 |
22,845.6 |
| Distribution expenses |
(4,845.1) |
(5,132.2) |
(5,171.9) |
(1,286.7) |
(1,291.7) |
(1,256.7) |
(6,131.8) |
(6,423.9) |
(6,428.6) |
| Sales and marketing expenses |
(4,280.8) |
(4,353.8) |
(3,969.4) |
(480.2) |
(522.5) |
(507.6) |
(4,761.0) |
(4,876.3) |
(4,477.0) |
| Administrative expenses |
(3,301.5) |
(3,363.6) |
(3,106.0) |
(467.5) |
(496.6) |
(457.2) |
(3,769.0) |
(3,860.2) |
(3,563.2) |
| Other operating income/(expenses) |
1,891.2 |
1,878.3 |
1,474.1 |
479.6 |
537.5 |
418.4 |
2,370.8 |
2,415.8 |
1,892.5 |
| Exceptional items |
(36.0) |
(16.2) |
(137.8) |
- |
- |
- |
(36.0) |
(16.2) |
(137.8) |
| Income from operations |
10,278.0 |
9,950.3 |
8,697.2 |
2,170.9 |
2,085.0 |
1,434.3 |
12,448.9 |
12,035.3 |
10,131.5 |
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