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

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WEBVTT 00:00:01.212 -- 00:00:06.099 Good afternoon and thank you for waiting. We would like to welcome everyone to Ambev's 00:00:06.099 -- 00:00:10.185 2025 Fourth Quarter and Full Year Results Conference Call. 00:00:10.185 -- 00:00:14.632 Today with us, we have Mr. Carlos Lisboa, Ambev's CEO, and Mr. 00:00:14.632 -- 00:00:18.117 Guilherme Flutti, CFO and Investor Relations Officer. 00:00:18.117 -- 00:00:23.024 As a reminder, this conference presentation is available for download on our website, 00:00:23.024 -- 00:00:25.024 ir.ambev.com.br, 00:00:26.109 -- 00:00:29.630 as well as though the webcast link. 00:00:29.630 -- 00:00:33.914 We would like to inform you that this event has been recorded and all participants will 00:00:33.914 -- 00:00:36.958 be in listen-only mode during the company's presentation. 00:00:36.958 -- 00:00:42.183 After Ambev's remarks are completed, there will be a Q&A section, during which we kindly 00:00:42.183 -- 00:00:47.028 ask that each participant's self-side analysts ask only one question. 00:00:47.028 -- 00:00:51.573 Before proceeding, let me mention that forward-looking statements are being made under 00:00:51.573 -- 00:00:56.815 the safe harbor of the Securities Litigation Reform Act of 1996. 00:00:56.815 -- 00:01:01.543 Forward-looking statements are based on the beliefs and assumptions of a web's management 00:01:01.543 -- 00:01:04.288 and on information currently available to the company. 00:01:04.288 -- 00:01:09.117 They involve risks, uncertainties and assumptions because they relate to future events 00:01:09.117 -- 00:01:13.488 and therefore depends on circumstances that may or may not occur in the future. 00:01:13.488 -- 00:01:18.275 Investors should understand that general economic conditions, industry conditions and 00:01:18.27...