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    ABEV3   BRABEVACNOR1

AMBEV S.A.

(ABEV3)
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Brazilian beverage distributors file antitrust complaint against Ambev

10/25/2019 | 03:47pm EDT
AmBev (Companhia de Bebidas das Americas) beer crates are pictured in their unit in Fortaleza

SAO PAULO (Reuters) - Beverage distributors working for Brazilian brewer Ambev SA have filed a complaint against the company at the local antitrust regulator Cade, accusing it of anticompetitive practices.

An industry group representing 110 resellers and logistic distributors, known as Confenar, blames Ambev for implementing abusive commercial policies due to its dominant market position in Brazil.

"Ambev creates a closed and vicious cycle of control, determining resellers to work on the product mix they want, in the format, price and structure of their interest," Confenar's president, Ataíde Gil Guerreiro, said in a statement on Friday.

Fines applied to companies found guilty of anticompetitive practices may range from 0.1% to 20% of the gross revenue in the year preceding the filing of the complaint, Cade said in an emailed statement.

Ambev said in a statement that it regrets that Confenar has taken to Cade private contract negotiations, which has been ongoing for months.

"Confenar wants a guarantee of minimum profitability, which goes against free enterprise and business logic, and is using authorities as an instrument to try to pressure Ambev in a private negotiation," it said in a statement sent to Reuters.

The company also said that all of its commercial policies "are thoroughly reviewed by a committee with external members and are absolutely in line with current laws, including antitrust."

Earlier on Friday, Latin America's largest brewery reported a 9.7% fall in third-quarter net profit hurt by a jump in costs and slowed volume growth in its home market.

Ambev' shares were trading almost 7% down at 17.89 reais, posting the worst performance in the Brazilian main stock index <.BVSP>, which was up 0.27%.

(Reporting by Gabriela Mello; Editing by Nick Zieminski and Richard Chang)

By Gabriela Mello


© Reuters 2019
Stocks mentioned in the article
ChangeLast1st jan.
AMBEV S.A. -1.32% 18.76 End-of-day quote.19.87%
AT HOME GROUP INC. 0.11% 36.8 Delayed Quote.138.03%
MEMBERS CO., LTD. -2.69% 3250 End-of-day quote.40.15%
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Financials
Sales 2021 66 390 M 13 047 M 13 047 M
Net income 2021 10 794 M 2 121 M 2 121 M
Net cash 2021 16 249 M 3 193 M 3 193 M
P/E ratio 2021 27,4x
Yield 2021 2,55%
Capitalization 295 B 58 477 M 58 017 M
EV / Sales 2021 4,20x
EV / Sales 2022 3,97x
Nbr of Employees 50 000
Free-Float 27,9%
Chart AMBEV S.A.
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Technical analysis trends AMBEV S.A.
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 15
Average target price 16,85 BRL
Last Close Price 18,76 BRL
Spread / Highest target 14,6%
Spread / Average Target -10,2%
Spread / Lowest Target -30,7%
EPS Revisions
Managers and Directors
NameTitle
Jereissati Jean Neto Chief Executive Officer
Fernando Mommensohn Tennenbaum Director
Lucas Machado Lira Chief Financial & Investor Relations Officer
Carlos Alves de Brito Co-Chairman
Victório Carlos de Marchi Co-Chairman
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