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Ambev Reports 2016 First Quarter Results Under IFRS

SAO PAULO, May 4, 2016 /PRNewswire/ -- Ambev S.A. [BOVESPA: ABEV3; NYSE: ABEV] announces today its results for the 2016 first quarter. The following operating and financial information, unless otherwise indicated, is presented in nominal Reais and prepared according to International Financial Reporting Standards (IFRS), and should be read together with our quarterly financial information for the three-month period ended March 31, 2016 filed with the CVM and submitted to the SEC.

Operating and Financial Highlights

Top line performance: Top line was up 2.6% in the quarter, as solid growth in CAC (+19.4%), LAS (+15.1%) and Canada (+2.3%) was partly offset by a decline in Brazil (-4.0%), due to an anticipated weak start of the year. Consolidated volumes were down 7.7% while net revenue per hectoliter (NR/hl) was up by a solid 11.1%. In Brazil, on top of an already challenging macroeconomic scenario, our volumes were heavily impacted by a tough comparable base of early Carnival and price increases to mitigate taxes. NR/hl was up 4.9% with returnable glass bottles (RGB) mix partly offsetting the growth driven by our revenue management initiatives. In CAC, volumes were up by double digits (+10.4%) with solid NR/hl performance (+8.1%). In LAS, while volumes declined by 10.4% mainly due to...