ABEV FY 2006 Earnings Report — Ambev S.A. Revenue & Financial Results | Market Cap Arena

FY 2006 Earnings

Reported December 30, 2006

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2006	Prior Q	FY 2005	QoQ Change	YoY Change
Revenue	$3.5B	—	—	—	—
Op. Income	$874M	—	—	—	—
Gross Margin	66.2%	—	—	—	—
Net Margin	15.9%	—	—	—	—
EPS (Diluted)	$0.05	—	—	—	—
Free Cash Flow	$916M	—	—	—	—

Revenue Flow

Item	Amount
REVENUE	$3.5B
Cost of Revenue	$1.2B
GROSS PROFIT	$2.4B
R&D Expenses	$0
Selling & Marketing	$779M
General & Administrative	$155M
SG&A Expenses	$934M
Other Expenses	$542M
Operating Expenses	$1.5B
Cost & Expenses	$2.7B
OPERATING INCOME	$874M
Interest Income	$0
Interest Expense	$217M
Other Income/Expenses	-$6M
INCOME BEFORE TAX	$868M
Income Tax Expense	$265M
Net Income from Continuing Ops	$603M
Net Income from Discontinued Ops	$0
Other Adjustments	-$39M
NET INCOME	$565M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$565M
D&A	$239M
EBIT	$1.3B
EBITDA	$1.5B
EPS	$0
EPS Diluted	$0

Income Statement

Item	Amount
REVENUE	$3.5B
Cost of Revenue	$1.2B
GROSS PROFIT	$2.4B
R&D Expenses	$0
Selling & Marketing	$779M
General & Administrative	$155M
SG&A Expenses	$934M
Other Expenses	$542M
Operating Expenses	$1.5B
Cost & Expenses	$2.7B
OPERATING INCOME	$874M
Interest Income	$0
Interest Expense	$217M
Other Income/Expenses	-$6M
INCOME BEFORE TAX	$868M
Income Tax Expense	$265M
Net Income from Continuing Ops	$603M
Net Income from Discontinued Ops	$0
Other Adjustments	-$39M
NET INCOME	$565M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$565M
D&A	$239M
EBIT	$1.3B
EBITDA	$1.5B
EPS	$0
EPS Diluted	$0

Cash Flow Statement

Item	Amount
Net Income	$564M
Depreciation & Amortization	$497M
Stock-Based Compensation	$0
Deferred Income Tax	$0
Other Non-Cash Items	$237M
Change in Working Capital	-$95M
OPERATING CASH FLOW	$1.2B
Capital Expenditure	-$287M
Acquisitions (Net)	-$532M
Purchases of Investments	-$530M
Sales/Maturities of Investments	$36M
Other Investing Activities	$552M
NET CASH FROM INVESTING	-$761M
Net Debt Issuance	$395M
Common Stock Repurchased	-$356M
Common Dividends Paid	-$361M
Other Financing Activities	$25M
NET CASH FROM FINANCING	-$295M
FREE CASH FLOW	$916M
Net Change in Cash	$141M

Balance Sheet

Item	Amount
Cash & Equivalents	$309M
Short-Term Investments	$45M
Net Receivables	$449M
Inventory	$274M
Other Current Assets	$230M
TOTAL CURRENT ASSETS	$1.4B
PP&E (Net)	$1.2B
Goodwill	$3.6B
Intangible Assets	$0
Long-Term Investments	$0
Tax Assets	$717M
Other Non-Current Assets	$312M
TOTAL NON-CURRENT ASSETS	$5.8B
TOTAL ASSETS	$7.2B
Account Payables	$280M
Short-Term Debt	$423M
Deferred Revenue	$0
Other Current Liabilities	$233M
TOTAL CURRENT LIABILITIES	$1.4B
Long-Term Debt	$1.5B
Deferred Revenue NC	$30M
Deferred Tax Liabilities	$82M
Other Non-Current Liabilities	$243M
TOTAL NON-CURRENT LIABILITIES	$1.9B
TOTAL LIABILITIES	$3.2B
Common Stock	$0
Additional Paid-In Capital	$1.2B
Retained Earnings	$326M
Treasury Stock	-$190M
Accum. Other Comp. Income	$2.9B
Other Equity	-$326M
TOTAL STOCKHOLDERS' EQUITY	$3.9B
Minority Interest	$45M
TOTAL EQUITY	$3.9B
TOTAL LIABILITIES & EQUITY	$7.2B
Total Debt	$1.9B
Net Debt	$1.6B