On February 29, 2024, Ambev S.A. reported its Q4 and full-year 2023 results, revealing a slight decline in total volumes (-0.1% in Q4, -1.1% for the year) but a significant net revenue increase of 29.5% in Q4 and 24.1% for the year. Despite challenges in certain regions, operational metrics improved with a Normalized EBITDA margin expansion of 470 bps for Q4 and 430 bps for the year, reflecting effective cost management and growth in key markets. Key data includes FY23 Normalized Profit of R$ 15,227.2 million, showing a 0.4% increase from FY22.