Ambev S.A. (ABEV) Q4 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good afternoon and thank you for waiting. We would like to welcome everyone to Ambev's 2025 Fourth Quarter and Full Year Results Conference Call. Today with us, we have Mr. Carlos Lisboa, Ambev's CEO, and Mr. Guilherme Flutti, CFO and Investor Relations Officer. As a reminder, this conference presentation is available for download on our website, ir.ambev.com.br, as well as though the webcast link. We would like to inform you that this event has been recorded and all participants will be in listen-only mode during the company's presentation. After Ambev's remarks are completed, there will be a Q&A section, during which we kindly ask that each participant's self-side analysts ask only one question. Before proceeding, let me mention that forward-looking statements are being made under the safe harbor of the Securities Litigation Reform Act of 1996. Forward-looking statements are based on the beliefs and assumptions of a web's management and on information currently available to the company. They involve risks, uncertainties and assumptions because they relate to future events and therefore depends on circumstances that may or may not occur in the future. Investors should understand that general economic conditions, industry conditions and other operating factors could also affect the future results of Unbev and could cause results to differ maturely from those expressed in such forward-looking statements. I would also like to remind everyone that, as usual, the percentage changes that will be discussed during today's call are both organic and normalized in nature. and unless otherwise stated, presented changes refer to comparison with 2024 fourth quarter and full year results. Normalized figures refer to performance measures before exceptional items which are either in...