SAO PAULO, May 5 (Reuters) - Brazilian brewer Ambev's first-quarter net profit rose 2.1% from a year earlier, it said on Tuesday, boosted by stronger performance in its key Brazil Beer segment during Carnival festivities, one of its so-called "megaplatforms".
Shares in the Anheuser-Busch InBev unit jumped 14% on the report, making it the top gainer on Brazil's benchmark stock index, as the company now gears up for the soccer World Cup - another key demand driver which kicks off in June.
Ambev, one of Brazil's largest firms, reported quarterly net profit of 3.89 billion reais ($783.5 million), on net revenue that rose 8.1% organically to 22.46 billion reais. Total volumes were up 0.1% in the period.
In Brazil, Ambev highlighted the impact of Carnival activations in February, which boosted brand engagement and beer sales. Premium beer volumes rose by double figures, pushing total volumes up 1.2% to a new all-time high for a first quarter.
The metric was estimated to have outperformed the industry, according to Ambev, and helped the company offset higher costs of goods sold per hectoliter - which reflected foreign exchange fluctuations and commodity impacts.
"We remain mindful that the global geopolitical environment continues to be dynamic," Ambev said. "We are closely monitoring developments across our markets and remain focused on disciplined execution and resource allocation."
The brewer kept its outlook for Brazil beer costs unchanged, expecting an increase between 4.5% and 7.5% for the year.
Looking ahead, Ambev said demand activation around major events, including the World Cup, is expected to support volumes and digital sales platforms such as Ze Delivery and its BEES business-to-business marketplace.
The soccer tournament should help sustain positive top line momentum, Itau BBA analysts said in a note to clients, adding that improving fundamentals could unlock upside potential for the stock.
($1 = 4.9648 reais)
(Reporting by Gabriel Araujo; Additional reporting by Tiago Brandao; Editing by Kirsten Donovan and Keith Weir)
