)
Edge12 Dec 2025
Running on Clouds: The Story of On
The story of how a Swiss runner's pursuit of a new running sensation became On, aiming to be the most premium global sportswear brand worldwide.
Ambev (ABEV3) investor relations material
Ambev Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2025 earnings summary30 Oct, 2025
Executive summary
Net revenue grew year-to-date, driven by a 7%–7.4% increase in net revenue per hectoliter and resilient brand performance across key markets.
EBITDA increased 2.9%–8% year-over-year with margin expansion, supported by disciplined cost management and premiumization.
Premium and super premium brands in Brazil grew mid-teens, reaching their highest market share since 2015.
Digital ecosystem initiatives, including BEES Marketplace and Zé Delivery, drove significant growth in GMV and engagement.
Share buyback program of R$2.5 billion approved, reinforcing commitment to shareholder returns.
Financial highlights
Normalized net income reached BRL 3.8 billion, up 7%–7.4% year-over-year, mainly due to a lower effective tax rate.
Stated net income was BRL 4.9 billion, up 36% year-over-year, reflecting one-off effects including a gain from the Barbados divestment.
Cash flow from operating activities totaled BRL 6.9 billion, down 14.7% year-over-year due to higher cash taxes and slower monetization of tax credits.
Dividend distribution for the year totaled BRL 6 billion.
Normalized EBITDA margin expanded by 50 basis points in the quarter and 120 basis points year-to-date.
Outlook and guidance
Management expects continued margin expansion and resilient EBITDA growth, with strong momentum into 2026 and positive impact anticipated from the FIFA World Cup and increased holidays in Brazil.
Guidance for Brazil Beer cash COGS per hectoliter remains unchanged, aiming for the lower half of the range.
What drove the 3Q25 effective tax rate drop?
How does the digital ecosystem impact margins?
Rationale for Argentina's organic growth cap?
BEES' specific impact on Q3 gross margin?
What Q4 trends will shift Brazil beer to growth?
Rationale for BRL 2.5B share buyback?
Partial view of Summaries dataset, powered by Quartr API
Research faster. Power your platform.
Next Ambev earnings date
Q4 202512 Feb, 2026
The essential earnings season companion
The #1 app for qualitative research. Live earnings calls, AI chat, transcripts, and more. All for free.
Live calls and transcripts
Listen to earnings calls, CMDs, investor conferences, and more – with a podcast-like experience.
Find what you need faster
Search for any keyword across all transcripts simultaneously.
Easily store key findings
Capturing important takeaways is as simple as it gets. Even during your lunch run or commute.
Your watchlist. Your dashboard.
Follow the companies that matter to you. Get a personalized feed with real-time updates.
Be the first to know
Set keyword alerts for any company, product, or competitor. Get notified the moment they're mentioned.
Consensus estimates
Access analyst consensus estimates, valuation multiples, and revenue segments splits.
All IR material in one place
The easiest way to stay updated during earnings season.
Global coverage
All events from public companies. Live and recorded.
Just click and listen
No webcast links. No manual registrations.
excellent app, it gives me free access to company earnings calls and annual reports. I also love the convenience of calls being available offline so I can listen in whilst doing other things and even when internet or WiFi isn't available.
)
Leroy DaleyApp Store
One of the very few apps you could call perfect. If something was to add to it, maybe the share price of the company when you search for it, but it's already excellent.
)
Eferix Drawings Google Play
This is genuinely one of the cleanest and fastest finance apps out there to track the market.
anuj283App Store
excellent app, it gives me free access to company earnings calls and annual reports. I also love the convenience of calls being available offline so I can listen in whilst doing other things and even when internet or WiFi isn't available.
Leroy DaleyApp Store
One of the very few apps you could call perfect. If something was to add to it, maybe the share price of the company when you search for it, but it's already excellent.
Eferix Drawings Google Play
This is genuinely one of the cleanest and fastest finance apps out there to track the market.
anuj283App Store
I can't remember the last time an app had such a positive impact on my investment process.
)
@ankurshah47_ x.com
Love the app! Quartr makes it really easy to keep track of earnings calls. It also includes the reports and slides to make it easier to follow along.
Amina0781App Store
Quartr is amazing, no way around it. It is the best right now for earnings calls, presentations, and the like.
@theshortbearx.com
I can't remember the last time an app had such a positive impact on my investment process.
@ankurshah47_ x.com
Love the app! Quartr makes it really easy to keep track of earnings calls. It also includes the reports and slides to make it easier to follow along.
Amina0781App Store
Quartr is amazing, no way around it. It is the best right now for earnings calls, presentations, and the like.
@theshortbearx.com
)
)
Frequently asked questions
Ambev S.A., through its subsidiaries, produces, distributes, and sells beer, draft beer, carbonated soft drinks, other non-alcoholic beverages, malt, and food products in the Americas. Ambev serves approximately 300 million consumers through a portfolio of approximately 200 brands that include Brahma, Antarctica, Skol, Quilmes, Victoria Bitter, Corona Extra, Budweiser Budvar, Stella Artois, Beck's, Leffe and Hoegaarden.
Quartr provides global coverage of all investor relation material from public companies.
Mobile app: Research anytime, anywhere with the #1 app for live earnings calls, transcripts, analyst estimates, and more. All for free.
Desktop (Quartr Pro): The leading platform for qualitative research, used daily by top firms and financial institutions.
Quartr API: Build custom solutions powered by live earnings calls, live transcripts, filings and reports, slide presentations, and more.
Yes, the Quartr mobile app is free on both iOS and Android.
Yes. Quartr provides global, industry-leading live coverage of company events such as regular earnings calls, capital markets days, M&A announcements, and investor conferences. Live with zero delays. Just click and listen.
Yes, capturing important takeaways is as simple as it gets. Even during your lunch run or commute.
Yes. Follow the companies that matter to you. Get a personalized feed with real-time updates, a tailored earnings calendar, and instant alerts when earnings calls go live.
Yes. Set keyword alerts for any company, product, or competitor. Get notified the moment they're mentioned, regardless of who's talking.
Explore our global coverage