Ambev S A : Material Fact Notice – COVID-19 and 2020 Guidance
March 23, 2020 at 09:28 pm EDT
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AMBEV S.A. ('Ambev' or 'Company'), in compliance with the Brazilian Securities Commission Ruling No. 358/02, informs its shareholders and the market that, since the announcement of its fourth quarter and full year 2019 results on February 27, 2020, the scale and magnitude of the novel strain of COVID-19 has increased quickly and significantly, causing disruptions and imposing restrictions on many customers, consumers, suppliers and other business partners, including mandatory quarantines, shut downs and other restrictions on travel, commercial, social and other activities.
Given the uncertainty, volatility and fast-moving developments of the pandemic in the markets in which Ambev operates, the Company is currently unable to reliably estimate the impacts of COVID-19 and, therefore, withdraws its guidance on EBITDA for the beer business in Brazil in the first quarter of 2020 (as disclosed to the market on February 27, 2020), as well as any other forward looking expectations for this year with respect to the markets in which we operate or otherwise.
Ambev emphasizes that the health and safety of its people and communities are its number one priority and that the Company is working closely with governments, local authorities, business partners, communities and stakeholders to face COVID-19 outbreak the best way possible.
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São Paulo, March 23, 2020.
AMBEV S.A.
Fernando Mommensohn Tennenbaum
Chief Financial and Investors Relations Officer
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AmBev SA published this content on 23 March 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 24 March 2020 01:27:04 UTC
Ambev SA, formerly Inbev Participacoes Societarias SA, is a Brazil-based company engaged in the brewing sector. The Company produces, distributes and sells beer, carbonated soft drinks (CSDs) and other non-alcoholic and non-carbonated (NANC) beverages across the Americas. The Company's activities are divided into three segments: Latin America North, including sell of beer, CSD and NANC drinks in Brazil, as well as operations in the Dominican Republic, Saint Vincent, Antigua, Dominica, Cuba, Guatemala, El Salvador, Honduras, Nicaragua, Barbados and Panama; Latin America South, distributing products in Argentina, Bolivia, Paraguay, Uruguay, Chile; and Canada, represented by Labatt's operations, which comprises sales in Canada and some exports to the U.S. market. The Company markets products under various brand names, such as Adriatica, Brahma, Leffe, Budweiser, Corona, PepsiCo and Lipton. It is a subsidiary of Interbrew International BV.