Ambev SEC Filings

Ambev S.A. (ABEV) filed a Form 6-K detailing insider securities positions for October 1–31, 2025. The report consolidates holdings of the Board of Directors, Management, and Fiscal Council under Article 11 of CVM Instruction 358/2002. Initial and final balances were unchanged over the period.

The Board of Directors held 12,107,569 common shares and 468,040 ADRs. Management held 3,783,056 common shares and 19,790 ADRs. The Fiscal Council held 2,500 common shares. Each ADR equals 1 share.

Ambev (ABEV)EPS grew 8% in 3Q25, supported by EBITDA growth with margin expansion. Net revenue increased, with NR/hl up 7%, and the company reported strong brand health across key markets.

Premium and Super Premium volumes rose more than 9%. The company also announced a share buyback program of R$2.5 billion. Its digital ecosystem advanced: Zé Delivery GMV +7% with +9% AOV, and BEES Marketplace reached BRL 8.0 billion annualized GMV. Cost discipline remained a focus as cash COGS/hl trailed NR/hl.

Year-to-date 2025, EPS increased 7% with continued EBITDA growth and margin expansion. Segment EBITDA contributions were led by Brazil Beer 48%, followed by CAC 18%, LAS 14%, Canada 12%, and Brazil NAB 8%.

Ambev S.A. approved a share buyback program to repurchase up to 208,000,000 common shares, mainly for cancellation, effective until April 29, 2027.

The company reported 4,253,039,958 outstanding shares and 169,205,404 shares in treasury at approval. Purchases will be recorded as a debit to the capital reserve on the balance sheet dated as of September 30, 2025. If the full amount is repurchased, the total payment would be approximately R$ 2,500,000,000.00, based on the closing share price on October 29, 2024, which the board noted equals about 15% of the company’s cash, and stated this would not affect obligations to creditors or mandatory dividends.

Transactions will be executed on the Brazilian stock exchange via Santander Corretora, Ágora Corretora, and Goldman Sachs do Brasil.

Ambev S.A. (ABEV) furnished a Form 6-K detailing an updated Manual on Disclosure and Securities Trading Policy. The Manual aligns with CVM Ruling No. 44/21 and consolidates rules for handling material information, public disclosure, and trading by insiders and related parties.

Key provisions include centralized oversight by the Investor Relations Officer, who is responsible for communicating and disclosing any Material Act or Fact through designated channels, including Valor Econômico’s portal, the company’s IR website, and CVM systems. The policy prohibits trading before disclosure of material information and imposes a 15-day blackout before publishing quarterly (ITR) and annual (DFP) financial information. It also outlines exceptions, such as transactions under approved stock plans and properly structured Individual Investment Plans with predefined rules and a minimum three-month effectiveness period.

The Manual mandates Adhesion Forms for Bound Persons and prescribes notification and reporting procedures, including ownership change disclosures when crossing 5%, 10%, 15% thresholds and successive levels. Amendments were approved by the Board on October 29, 2025.

Ambev S.A. approved a share buyback program authorizing the repurchase of up to 208,000,000 common shares. The primary purpose is cancellation; shares not canceled may be held in treasury, transferred, or used to satisfy share-based compensation plans. The program remains in effect until April 29, 2027.

The company reported 4,253,039,958 outstanding shares as defined by CVM Resolution 77/2022. Repurchases will be recorded as a debit to the capital reserve on the balance sheet dated as of September 30, 2025. Transactions may be executed through Santander Corretora, Ágora Corretora, and Goldman Sachs do Brasil. Additional details are available on the CVM, B3, and Ambev investor relations websites.

Ambev S.A. reported 3Q25 results with softer volumes but stronger pricing and margins. Total volume fell 5.8% (organic) as Brazil (-7.9%), Canada (-2.0%), and LAS (-0.8%) were partly offset by CAC (+1.3%). Net revenue rose 1.2% (organic) on NR/hl up 7.4%. Normalized EBITDA reached R$ 7,059.1 million (-0.1% as reported; +2.9% organic), and the EBITDA margin expanded to 33.9% (+50 bps organic). Normalized profit was R$ 3,843.1 million, up 7.4%.

By region, net revenue grew in LAS (+9.2% organic), CAC (+2.2%), and Brazil NAB (+0.5%), and declined in Canada (-0.1%) and Brazil Beer (-2.1%) on weaker volumes. Gross margin improved 10 bps (organic) to 51.5% with disciplined cost and expense management. Cash flow from operating activities was R$ 6,919.0 million, down 14.7% versus 3Q24 mainly on higher cash taxes.

The Board approved a share buyback of up to 208,000,000 common shares (approximately R$ 2.5 billion based on the October 29, 2025 close), primarily for cancellation, with the program effective until April 29, 2027.

Ambev S.A. reported stronger 9M 2025 results. Net sales reached R$63.43 billion, up modestly year over year, while net income rose to R$11.46 billion as operating profit improved and the effective tax rate eased. Basic EPS was R$0.7141. Q3 showed softer top-line trends, with net sales of R$20.85 billion and net income of R$4.86 billion.

Results include an exceptional gain of R$884 million from the partial disposal and deconsolidation of SLU Beverages, recorded within non-recurring items. Operating cash flow was R$11.20 billion; after investing outflows and significant shareholder distributions, cash and cash equivalents were R$18.31 billion at period end. The company paid three dividends in 2025 totaling R$5.999 billion, including R$0.1283 per share approved on July 30 and paid on October 6. Currency translation effects drove a comprehensive loss despite positive net income.