Leonardo Alencar's questions to Ambev SA (ABEV) leadership • Q2 2024
Question
Leonardo Alencar asked about several topics: the impact of weather on beer consumption, the outlook for COGS given aluminum and FX volatility, and whether the business in Argentina has reached its bottom.
Answer
Executive Jean Neto noted that positive temperatures in Q2 were offset by higher rainfall, and a healthy job market also supported the industry. He suggested Argentina may have bottomed in April/May, with a reverting trend in June/July. Executive Lucas Lira added that while current commodity and FX rates are a headwind for COGS, it's too early to determine the full-year impact due to ongoing hedging. Jean Neto also highlighted BRL 1.5 billion in recent cost-efficiency investments.