Brazil: AmBev’s estimates for 2005

Brazilian beer maker, Companhia de Bebidas das Americas (AmBev), announced on July 19 its estimates for FY2005 by business division (compared to FY2004 results). AmBev said that its Brazil beer Volume will register a 5% growth in 2005 and EBITDA (Earnings before interest, taxes, depreciation and amortization) margin will reach 45%. “Price to consumer: stable in real terms. Sales and marketing expenses: stable in nominal terms,” AmBev reported.

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