March 24, 2020 / 11:38 AM / 8 days ago

Brazil's Ambev cancels 2020 guidance amid coronavirus outbreak

RIO DE JANEIRO, March 24 (Reuters) - Brazil-based drinks firm Ambev SA, the Latin American and Canadian unit of Anheuser Busch Inbev NV, is canceling all 2020 forecasts due to market uncertainty created by the coronavirus pandemic, it said on Tuesday.

“The company is currently unable to estimate the impacts of COVID-19 in an honest fashion and, as a result, it is retracting its projection for EBITDA...for its beer business in Brazil in the first quarter of 2020...as well as all other future projections for this year,” the company said.

Reporting by Gram Slattery, editing by Louise Heavens

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