SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 6-K

Report of Foreign Private Issuer
Pursuant to Rule 13a-16 or 15d-16 of the

Securities Exchange Act of 1934

For the month of November, 2013

Commission File Number 1-15194

COMPANHIA DE BEBIDAS DAS AMÉRICAS-AMBEV

(Exact name of registrant as specified in its charter)

American Beverage Company-AMBEV

(Translation of Registrant's name into English)

Rua Dr. Renato Paes de Barros, 1017 - 4^th Floor
04530-000 São Paulo, SP
Federative Republic of Brazil

(Address of principal executive office)

Indicate by check mark whether the registrant files or will file annual reports under cover Form 20-F or Form 40-F.

Form 20-F ___X___ Form 40-F _______

Indicate by check mark whether the registrant by furnishing the information contained in this Form is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.

Yes _______ No ___X____

(A free translation of the original in Portuguese)

Companhia de Bebidas das Américas - AmBev

Interim Consolidated Financial Statements as at September 30, 2013

and Report on Review of

Consolidated Interim

Accounting Informaiton

(A free translation of the original in Portuguese)

Report on Review of Consolidated Interim

Accounting Information

To the Board of Directors and Shareholders

Companhia de Bebidas das Américas – AmBev

Introduction

We have reviewed the accompanying consolidated interim accounting information of Companhia de Bebidas das Américas – AmBev, included in the Quarterly Information Form ( ITR) for the quarter ended September 30, 2013, comprising the interim consolidated balance sheet at that date and the interim consolidated income statements, interim consolidated statements of comprehensive income for the quarter and nine-month periods then ended, and the interim consolidated statements of changes in equity and cash flows for the nine-month period then ended, and a summary of significant accounting policies and other explanatory information.

Management is responsible for the preparation of the consolidated interim accounting information in accordance with the accounting standard CPC 21, Interim Financial Reporting, of the Brazilian Accounting Pronouncements Committee (CPC) and International Accounting Standard (IAS) 34 - Interim Financial Reporting issued by the International Accounting Standards Board (IASB). Our responsibility is to express a conclusion on this consolidated interim accounting information based on our review.

Scope of review

We conducted our review in accordance with Brazilian and International Standards on Reviews of Interim Financial Information (NBC TR 2410 – Review of Interim Financial Information Performed by the Independent Auditor of the Entity and ISRE 2410 – Review of Interim Financial Information Performed by the Independent Auditor of the Entity, respectively). A review of interim information consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with Brazilian and International Standards on Auditing and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion.

Conclusion on the

interim information

Based on our review, nothing has come to our attention that causes us to believe that the accompanying consolidated interim accounting information included in the quarterly information referred to above has not been prepared, in all material respects, in accordance with CPC 21 and IAS 34, applicable to the preparation of the consolidated interim accounting information.

(A free translation of the original in Portuguese)

Other matters

Statement of value added

We have also reviewed the interim consolidated value added statements for the nine-month period ended September 30, 2013, considered to be supplementary information under IFRS which does not require the presentation of the statement of value added. This statement has been submitted to the same review procedures described above and, based on our review, nothing has come to our attention that causes us to believe that they have not been prepared, in all material respects, in a manner consistent with the consolidated interim accounting information taken as a whole.

São Paulo, October 30, 2013.

PricewaterhouseCoopers

Auditores Independentes

CRC 2SP000160/O-5

Eduardo Rogatto Luque

Contador CRC 1SP166259/O-4

INTERIM CONSOLIDATED FINANCIAL STATEMENTS

Interim Consolidated Balance Sheets

As of September 30, 2013 and December 31, 2012

(Expressed in thousands of Brazilian Reais)

Assets	Note	09/30/2013	12/31/2012

Current assets
Cash and cash equivalents		4,787,888	8,926,165
Investment securities	4	612,489	476,607
Trade and other receivables		4,300,361	4,268,221
Inventories	5	2,586,540	2,466,341
Taxes receivable		100,313	114,502
Assets held for sale		-	4,086
		12,387,591	16,255,922

Non-current assets
Investment securities	4	242,556	249,379
Trade and other receivables		2,086,933	1,855,013
Deferred tax assets	6	1,718,927	1,418,515
Taxes receivable		10,843	12,316
Employee benefits		25,480	25,480
Investments in associates		20,903	24,012
Property, plant and equipment	7	12,226,361	11,412,280
Intangible assets		3,112,278	2,935,396
Goodwill	8	19,921,443	19,971,456
		39,365,724	37,903,847

Total assets		51,753,315	54,159,769

The accompanying notes are an integral part of the interim consolidated financial statements.

Interim Consolidated Balance Sheets (continued)

As of September 30, 2013 and December 31, 2012

(Expressed in thousands of Brazilian Reais)

Equity and Liabilities	Note	09/30/2013	12/31/2012

Current liabilities
Trade and other payables		8,800,597	13,570,776
Interest-bearing loans and borrowings	9	897,854	837,772
Bank overdrafts		927	123
Income tax and social contribution payable		664,396	972,556
Provisions	10	136,029	137,452
		10,499,803	15,518,679

Non-current liabilities
Trade and other payables		3,412,771	3,063,989
Interest-bearing loans and borrowings	9	2,101,849	2,305,957
Deferred tax liabilities	6	1,254,695	1,048,343
Provisions	10	452,120	518,076
Employee benefits		1,874,796	1,780,908
		9,096,231	8,717,273

Total liabilities		19,596,034	24,235,952

Equity	11
Share capital		12,742,017	12,187,349
Reserves		14,408,047	16,676,395
Retained earnings		3,955,595	-
Equity attributable to equity holders of Ambev		31,105,659	28,863,744

Non-controlling interests		1,051,622	1,060,073

Total equity and liabilities		51,753,315	54,159,769

The accompanying notes are an integral part of the interim consolidated financial statements.

Interim Consolidated Income Statements

For the nine and three-month period ended September 30, 2013 and 2012

(Expressed in thousands of Brazilian Reais)

		Nine-month period ended:		Three-month period ended:
	Note	09/30/2013	09/30/2012	09/30/2013	09/30/2012

Net sales	13	23,738,542	22,097,139	8,462,603	8,036,022
Cost of sales		(8,031,299)	(7,233,820)	(2,816,206)	(2,621,460)
Gross profit		15,707,243	14,863,319	5,646,397	5,414,562

Sales and marketing expenses		(6,073,340)	(5,374,962)	(1,999,817)	(1,821,871)
Administrative expenses		(1,105,474)	(1,192,351)	(357,294)	(518,212)
Other operating income/(expenses)	14	1,002,557	560,334	394,300	251,857
Income from operations before special items		9,530,986	8,856,340	3,683,586	3,326,336

Special items		(13,175)	(36,410)	(6,930)	(9,636)
Income from operations		9,517,811	8,819,930	3,676,656	3,316,700

Finance cost	16	(1,475,929)	(1,150,867)	(680,499)	(550,711)
Finance income	16	470,941	515,555	184,357	183,866
Net finance cost		(1,004,988)	(635,312)	(496,142)	(366,845)

Share of results of associates		5,677	91	3,892	32
Income before income tax		8,518,500	8,184,709	3,184,406	2,949,887

Income tax expense	17	(1,883,245)	(1,419,446)	(848,932)	(448,185)
Net income		6,635,255	6,765,263	2,335,474	2,501,702

Attributable to:
Equity holders of Ambev		6,506,226	6,695,004	2,280,255	2,476,892
Non-controlling interests		129,029	70,259	55,219	24,810

Basic earnings per share – preferred		2.19	2.26	0.72	0.84
Diluted earnings per share– preferred		2.18	2.25	0.71	0.83
Basic earnings per share – common		1.99	2.05	0.65	0.76
Diluted earnings per share– common		1.98	2.04	0.65	0.76

The accompanying notes are an integral part of the interim consolidated financial statements.

Interim Consolidated Statements of Comprehensive Income

For the nine and three-month period ended September 30, 2013 and 2012

(Expressed in thousands of Brazilian Reais)

	Nine-month period ended:		Three-month year ended:
	09/30/2013	09/30/2012	09/30/2013	09/30/2012

Net income	6,635,255	6,765,263	2,335,474	2,501,702

Exchange differences on translation of foreign operations (gains/ (losses))	100,638	212,614	(74,836)	(329,438)
Actuarial gains and (losses)	8,673	(64,188)	1,347	(18,007)
Change in adjustment international standards	-	92,660	-	31,942
Cash flow hedges - gains / (losses)
Recognized in Equity (cash flow hedge)	64,756	463,806	(1,192)	99,719
Removed from Equity and included in profit or loss	(134,951)	(236,168)	(62,006)	(24,627)
Deferred income tax variance in Equity and other changes	35,089	(79,536)	37,391	6,034
Total cash flow hedges	(35,106)	148,102	(25,807)	81,126
Net income (loss) recognized directly in Equity	74,205	389,188	(99,296)	(234,377)

Total comprehensive income	6,709,460	7,154,451	2,236,178	2,267,325

Attributable to:
Equity holders of Ambev	6,541,933	6,975,430	2,175,224	2,304,085
Non-controlling interest	167,527	179,021	60,954	(36,760)

The accompanying notes are an integral part of the interim consolidated financial statements.

Interim Consolidated Statements of Changes in Equity

(Expressed in thousands of Brazilian Reais)

	Attributable to equity holders of Ambev

	Capital	Capital reserves	Net income reserve	Retained earnings	Comprehensive Income	Total	Non-controlling interest	Total equity
At January 1, 2013	12,187,349	6,749,812	13,254,995	-	(3,328,412)	28,863,744	1,060,073	29,923,817
Effects of changes in accounting standards	-	-	-	(253,516)	253,516	-	-	-
At January 1, 2013 adjusted	12,187,349	6,749,812	13,254,995	(253,516)	(3,074,896)	28,863,744	1,060,073	29,923,817

Net income	-	-	-	6,506,226	-	6,506,226	129,029	6,635,255
Other comprehensive income
Translation reserves - gains / (losses)	-	-	-	-	64,268	64,268	36,370	100,638
Cash flow hedges - gains / (losses)	-	-	-	-	(37,247)	(37,247)	2,141	(35,106)
Actuarial gain / (losses)	-	-	-	-	8,686	8,686	(13)	8,673
Total Comprehensive income	-	-	-	6,506,226	35,707	6,541,933	167,527	6,709,460
Shares issued	554,668	(373,404)	-	-	-	181,264	-	181,264
Put option to acquire interest in a subsidiary	-	-	-	-	(76,394)	(76,394)	-	(76,394)
Gains/(losses) of non-controlling interest´s share	-	-	-	-	(336,372)	(336,372)	(108,965)	(445,337)
Dividends	-	-	(1,854,010)	(2,035,987)	-	(3,889,997)	(67,013)	(3,957,010)
Interest on shareholder's equity	-	-	-	(261,128)	-	(261,128)	-	(261,128)
Share-based payment	-	113,526	-	-	-	113,526	-	113,526
Reserves destination:
Fiscal incentive	-	-	-	-	-	-	-	-
Investments reserve	-	-	-	-	-	-	-	-
Additional dividends	-	-	-	-	-	-	-	-
Treasury shares	-	(30,917)	-	-	-	(30,917)	-	(30,917)
At September 30, 2013	12,742,017	6,459,017	11,400,985	3,955,595	(3,451,955)	31,105,659	1,051,622	32,157,281

The accompanying notes are an integral part of the interim consolidated financial statements.

	Attributable to equity holders of Ambev


	Capital	Capital reserves	Net income reserve	Retained earnings	Comprehensive Income	Total	Non-controlling interest	Total equity
At January 1, 2012	8,303,936	7,030,058	12,581,184	-	(2,303,858)	25,611,320	217,525	25,828,845
Effects of changes in accounting standards	-	-	-	(117,409)	117,409	-	-	-
At January 1, 2012 adjusted	8,303,936	7,030,058	12,581,184	(117,409)	(2,186,449)	25,611,320	217,525	25,828,845

Net income	-	-	-	6,695,004	-	6,695,004	70,259	6,765,263
Other comprehensive income
Change in adjustment international standards	-	-	-	-	92,660	92,660	-	92,660
Translation reserves - gains / (losses)	-	-	-	-	103,428	103,428	109,186	212,614
Cash flow hedges - gains / (losses)	-	-	-	-	148,628	148,628	(526)	148,102
Actuarial gain / (losses)	-	-	-	-	(64,290)	(64,290)	102	(64,188)
Total Comprehensive income	-	-	-	6,695,004	280,426	6,975,430	179,021	7,154,451
Shares issued	3,873,026	(381,410)	(3,291,913)	-	-	199,703	-	199,703
Put option to acquire interest in a subsidiary	-	-	-	-	(1,978,275)	(1,978,275)	-	(1,978,275)
Gains/(losses) of non-controlling interest´s share	-	-	-	-	163,918	163,918	860,290	1,024,208
Dividends	-	-	(681,355)	(1,548,335)	-	(2,229,690)	(33,134)	(2,262,824)
Interest on shareholder's equity	-	-	-	(1,335,278)	-	(1,335,278)	-	(1,335,278)
Share-based payment	-	95,246	-	-	-	95,246	-	95,246
Treasury shares	-	(21,539)	-	-	-	(21,539)	-	(21,539)
Others	-	-	-	14,968	-	14,968	-	14,968
At September 30, 2012	12,176,962	6,722,355	8,607,916	3,708,950	(3,720,380)	27,495,803	1,223,702	28,719,505

The accompanying notes are an integral part of the interim consolidated financial statements.

Interim Consolidated Cash Flow Statements

For the nine and three-month period ended September 30, 2013 and 2012

(Expressed in thousands of Brazilian Reais)

		Nine-month period ended:		Three-month period ended:
	Note	09/30/2013	09/30/2012	09/30/2013	09/30/2012

Net income		6,635,255	6,765,263	2,335,474	2,501,702
Depreciation, amortization and impairment		1,485,205	1,268,081	515,724	461,083
Impairment losses on receivables and inventories		107,624	109,340	34,971	40,856
Additions/(reversals) in provisions and employee benefits		126,849	153,883	52,471	47,950
Net finance cost	16	1,004,988	635,312	496,142	366,845
Loss/(gain) on sale of property, plant and equipment and intangible assets		(17,135)	(3,734)	(14,566)	(10,988)
Equity-settled share-based payment expense	18	120,319	106,004	39,556	42,842
Income tax expense	17	1,883,245	1,419,446	848,932	448,185
Share of result of associates		(5,677)	(91)	(3,892)	(32)
Other non-cash items included in results		(137,923)	(151,083)	(63,696)	(42,516)
Cash flow from operating activities before changes in working capital and use of provisions		11,202,750	10,302,421	4,241,116	3,855,927

Decrease/(increase) in trade and other receivables		(273,077)	(414,774)	(214,511)	(575,871)
Decrease/(increase) in inventories		(193,834)	(190,239)	95,213	64,401
Increase/(decrease) in trade and other payables		(1,745,692)	(1,324,621)	567,948	1,021,159
Cash generated from operations		8,990,147	8,372,787	4,689,766	4,365,616

Interest paid		(357,039)	(318,697)	(195,836)	(185,831)
Interest received		537,811	402,091	351,136	53,838
Dividends received		1,042,331	296,745	847,447	(29,682)
Income tax paid		(2,343,591)	(1,490,546)	(445,938)	(571,881)
Cash flow from operating activities		7,869,659	7,262,380	5,246,575	3,632,060

Proceeds from sale of property, plant and equipment and intangible assets	7	64,779	39,900	37,590	28,067
Acquisition of property, plant and equipment and intangible assets	7	(2,358,088)	(1,959,436)	(1,057,993)	(965,662)
Acquisition of subsidiaries, net of cash acquired		(245,007)	(2,513,051)	(75,571)	(59,749)
Investment in short term debt securities and net proceeds/(acquisition) of debt securities		(170,956)	(415,574)	(135,956)	(371,787)
Net proceeds/(acquisition) of other assets		(1)	(16,429)	-	(3,459)
Cash flow from investing activities		(2,709,273)	(4,864,590)	(1,231,930)	(1,372,590)

Capital increase	11	160,344	199,703	-	173,367
Advances for future capital increase		-	-	-	(170,485)
Proceeds/repurchase of treasury shares		(8,920)	(20,230)	-	-
Proceeds from borrowings		191,816	1,128,696	(92,479)	479,406
Repayment of borrowings		(729,802)	(2,907,617)	(79,952)	(1,588,942)
Cash net of finance costs other than interests		(998,283)	(449,521)	(737,737)	(306,251)
Payment of finance lease liabilities		(1,086)	(5,027)	(329)	(921)
Dividends (paid) / received		(8,067,074)	(4,095,096)	(2,896,173)	(1,237,409)
Cash flow from financing activities		(9,453,005)	(6,149,092)	(3,806,670)	(2,651,235)

Net increase/(decrease) in cash and cash equivalents		(4,292,619)	(3,767,731)	207,975	(391,765)
Cash and cash equivalents less bank overdrafts at begin of period		8,926,042	8,063,935	4,435,765	4,890,202
Effect of exchange rate fluctuations		153,538	217,530	143,221	31,726
Cash and cash equivalents less bank overdrafts at end of period		4,786,961	4,513,734	4,786,961	4,530,163

The accompanying notes are an integral part of the interim consolidated financial statements.

Interim Consolidated Value Added Statements

Nine--month period ended September 30, 2013 and 2012

(Expressed in thousands of Brazilian Reais)

	Nine-month period ended:
	09/30/2013	09/30/2012

Revenues	36,083,167	34,611,637
Sale of goods, products and services	35,707,207	34,348,336
Other operating income	419,299	336,498
Allowance for/reversal of doubful accounts	(43,339)	(73,197)
Input acquired from third parties	(13,275,190)	(12,097,393)
Costs of products, goods and services sold	(8,676,862)	(8,136,229)
Materials - energy - third party services - others	(4,549,429)	(3,918,195)
(Loss)/recovery of assets	(48,899)	(42,969)
Gross added value	22,807,977	22,514,244
Retention	(1,436,308)	(1,217,135)
Depreciation and amortization	(1,436,308)	(1,217,135)
Net added value produced	21,371,669	21,297,109
Value added received in transfer	339,799	389,790
Share of results of associates	5,677	91
Finance income	470,941	515,555
Others	(136,819)	(125,856)
Total added value to be distribute	21,711,468	21,686,899
Distribution of value added	21,711,468	21,686,899
Employees	2,151,079	2,211,074
Direct remuneration	1,726,600	1,775,686
Benefits	166,186	167,437
Government severance indemnity fund for employees	56,533	51,206
Others	201,760	216,745
Taxes, fees and contribution	11,389,196	11,465,416
Federal	5,372,002	5,010,882
State	6,004,319	6,442,384
Municipal	12,875	12,150
Remuneration of third party capital	1,535,938	1,245,146
Interest	1,404,356	1,121,625
Rent	131,582	123,521
Remuneration of own capital	6,635,255	6,765,263
Interest on shareholder's equity	261,128	1,335,278
Dividends	2,035,987	1,533,367
Retained earnings/losses for the period	4,209,111	3,826,359
Non-controlling interest	129,029	70,259

The accompanying notes are an integral part of the interim consolidated financial statements.

Notes to the interim consolidated financial statements:

1.	Corporate information
2.	Statement of compliance
3.	Summary of significant accounting policies
4.	Investment securities
5.	Inventories
6.	Deferred income tax and social contribution
7.	Property, plant and equipment
8.	Goodwill
9.	Interest-bearing loans and borrowings
10.	Provisions
11.	Changes in equity
12.	Segment reporting
13.	Net Sales
14.	Other operating income/(expenses)
15.	Special items
16.	Finance cost and income
17.	Income tax and social contribution
18.	Share-based payments
19.	Financial instruments and risks
20.	Collateral and contractual commitments, advances from customers and other
21.	Contingencies
22.	Related parties
23.	Events after the balance sheet date

1. CORPORATE INFORMATION

Companhia de Bebidas das Américas - AmBev (referred to as the “Company” or “Ambev”), headquartered in São Paulo, Brazil; produces and sells beer, draft beer, soft drinks, other non-alcoholic beverages, malt and food in general, either directly or by participating in other Brazilian-domiciled companies and elsewhere in the Americas.

The Company has an agreement with PepsiCo International, Inc. (“PepsiCo”) to bottle, sell and distribute Pepsi products in Brazil and in other Latin American countries, including Pepsi Cola, 7Up, Lipton Ice Tea, Gatorade and H2OH!.

The Company has a licensing agreement with Anheuser-Busch, Inc., to produce, bottle, sell and distribute Budweiser products in Brazil, Canada, Ecuador, Guatemala, Dominican Republic and Paraguay. The Company produces and distributes Stella Artois products under license to Anheuser-Busch InBev S.A./N.V. (“AB InBev”) in Brazil, Canada, Argentina and other countries and, by means of a license granted to AB InBev, it also distributes Brahma’s product in parts of Europe, Asia and Africa.

The Company’s shares are traded on the Brazilian Stock Exchange – BM&FBOVESPA Bolsa de Valores S.A., Mercadorias e Futuros and on the New York Stock Exchange – NYSE, the latter in the form of American Depositary Receipts (“ADRs”).

Major corporate events in 2013:

The Company announced to the market on December 7, 2012 its proposed corporate restructuring to transition the Company’s current dual stock capital structure (common shares and preferred shares) to a new, single stock capital structure comprised exclusively of voting Common shares. Ambev S.A. will hold all shares of Ambev (the “Stock Swap Merger”).

On May 10, 2013, the Fiscal Council approved the proposal of the Board of Directors and recommended that the corporate restructuring proposal be submitted for approval at the Extraordinary General Meeting (“EGM”).

On June 17, 2013, as a preliminary step to the corporate restructuring, the parent company AB InBev contributed, through its subsidiaries AmBrew S.A. (“AmBrew”) and Interbrew International BV (“IIBV”), all shares of Ambev to Ambev S.A. (“Contribution Shares”).

The Extraordinary General Meeting held on July 30, 2013, approved the following items with regards to the Stock Swap Merger:

(i) the Protocol and Justification, dated May 10, 2013, in connection with the Stock Swap Merger;

(ii) the Stock Swap Merger, in accordance with the Protocol and Justification, based on the economic value of the Company’s shares, calculated pursuant to their stock exchange trading price on April 26, 2013, it being noted that, as a result of the Stock Swap Merger, the Company’s shareholders received five Ambev S.A. Common shares for each Company Common or Preferred share exchanged, and holders of ADRs representing Common or Preferred shares of the Company, received five Ambev S.A. ADRs for each Company ADR exchanged; and

(iii) the authorization for the subscription, by Management, of the shares to be issued by Ambev S.A. as a result of the Stock Swap Merger, as well as the execution of all other requirements necessary to implement the Stock Swap Merger.

In January 2013 the subsidiary CRBS S.A. (“CRBS”) acquired all the shares of Bemais Distribuidora de Bebidas Ltda., Laguna Distribuidora de Bebidas Ltda., Casa Pinto Ltda. and Poços Beer Distribuidora de Bebidas Ltda, located in the south of the state of Minas Gerais. The total amount paid for these companies was R$98,558 which generated goodwill of R$93,193. The Company is in the process of finalizing the allocation of the purchase price to the individual assets acquired and liabilities assumed in compliance with IFRS 3.

Major corporate events between January and September of 2012:

On April 13, 2012 the Company and E. León Jimenes S.A. (“ELJ”), which owns 83.5% of Cervecería Nacional Dominicana S.A. (“CND”), entered into an agreement to combine their businesses in the Caribbean area.

Upon closing of the transaction, Ambev Brasil Bebidas S.A. (“Ambev Brasil”), a closely-held subsidiary of the Company, became indirectly a shareholder, together with ELJ, of Tenedora CND S.A., a holding company which own the shares of CND and 100% of Ambev Dominicana S.A. (“Ambev Dominicana”), with Ambev Brasil owning an indirect interest in CND.

In March 2012, the subsidiary CRBS S.A. acquired Lugano Distribuidora de Bebidas Ltda. (formerly Lambert & Cia. Ltda.), located in the south of Brazil.

In January 2012, in connection with the operational and corporate restructuring of the Ambev Group, the following events occurred: (i) capital contribution with the distribution assets of Ambev in its subsidiary CRBS and (ii) the merger of Morena Distribuidora de Bebidas S.A. by CRBS.

In January 2012, Arosuco Aromas e Sucos Ltda. (“Arosuco”), which is responsible mainly for the production of concentrates needed in the production of soft drinks, teas and sports drinks, acquired all the shares of Lachaise Aromas e Participações Ltda. (“Lachaise”), whose main corporate purpose is the production of flavorings used in the production of concentrates, thus reducing the need for the Ambev Group to acquire the ingredients from third parties. With the objective of streamlining and simplifying the corporate structure of the Ambev Group, Lachaise was merged into Arosuco.

The interim consolidated financial statements were approved by the Board of Directors on October 30, 2013.

2. STATEMENT OF COMPLIANCE

The interim consolidated financial statements have been prepared in accordance with IAS 34 - Interim Financial Reporting as issued by the International Accounting Standards Board (“IASB”).

The information does not meet all disclosure requirements for the presentation of full annual financial statements and thus should be read in conjunction with the consolidated financial statements prepared in accordance with international financial reporting standards (“IFRS”) for the year ended December 31, 2012. To avoid duplication of disclosures which are included in the annual financial statements, the following notes were not subject to full filling:

(a) Summary of significant accounting policies (Note 3);

(b) Acquisition and disposals of subsidiaries (Note 5);

(d) Additional information on operating expenses by nature (Note 10);

(e) Intangible assets (Note 15);

(f) Trade and other receivables (Note 19);

(g) Cash and cash equivalents (Note 20);

(h) Interest-bearing loans and borrowings (Note 22);

(i) Employee benefits (Note 23);

(j) Trade and other payables (Note 25);

(k) Operating leases (Note 28);

(l) Contingencies (Note 30);

(m) Group Companies (Note 32);

(n) Insurance (Note 33).

3. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

There were no significant changes in accounting policies for the interim financial statements as of September 30, 2013, in the calculation methods used in relation to those presented in the financial statements for the year ended December 31, 2012, except for the prospective change in the functional currency of certain non-significant malting operation, in accordance with paragraph 35 of IAS 21 – The Effects of Changes in Foreign Exchange Rates, and for the items described below.

Recently issued IFRS

IFRSs with effective application for annual periods beginning on January 1, 2013:

IFRS 10 Consolidated Financial Statements:

Provides a single consolidation model that identifies control as the basis for consolidation for all types of entities.

IFRS 11 Joint Arrangements:

Replaces the current proportionate consolidation method by the equity method on joint ventures.

Joint operations continue to be proportionally consolidated.

IFRS 12 Disclosure of Interests in Other Entities:

Combines, enhances and replaces the disclosure requirements for subsidiaries, joint arrangements, associates and unconsolidated structured entities.

IFRS 13 Fair Value Measurement:

Does not establish new requirements for when fair value is required but provides a single source of guidance on how fair value is measured.

IAS 19 Employee Benefits (Revised 2011):

The amendments, due to the revision, that caused the most significant impacts in the Company’s financial statements include:

The profitability of plan assets will no longer be calculated through the concept of expected returns on assets. Expected returns are replaced by recording interest income in profit or loss, which is calculated using the discount rate used to measure the pension obligation.

Unvested past service costs can no longer be deferred and recognized over the future vesting period. Instead, all past service costs will be recognized when the Company recognizes related restructuring or termination costs.

IAS 19 (Revised 2011) is effective for annual periods beginning on January 1, 2013 and requires retrospective application. Accordingly, the amounts presented in the consolidated financial statements for the year ended December 31, 2012 are restated below in accordance with IAS 19 (Revised 2011), for comparison purposes.

Similar to the 2012 version of IAS 19, IAS 19 (Revised 2011) does not specify where in profit of loss an entity should present the net interest on net defined benefit liabilities. As a consequence, the Company has determined that the net interest component would be presented as part of the Company’s net finance cost. This change in presentation is consistent with IAS 1, which permits entities to provide disaggregated information in the performance statements.

Had IAS 19 (Revised 2011) been adopted in 2012, the adjusted total pre-tax pension expense is R$139,489 higher than previously reported. The impact is mainly caused by the change in the calculation of returns on assets afore mentioned. Accordingly, if the Company had presented net interest on net defined benefit liabilities separately of its net finance cost, income from operations before special items would be lesser by R$57,480, and net finance costs would be higher by R$82,009.

The adjusted figures upon implementation of IAS 19 (Revised 2011) and the previously reported figures are demonstrated below:

Interim Consolidated Income Statements

For the nine and three -month period ended September 30, 2012

(Expressed in thousands of Brazilian Reais)

	Nine-month period ended:		Three-month period ended:
	09/30/2012	09/30/2012	09/30/2012	09/30/2012
	Adjusted	Reported	Adjusted	Reported

Net sales	22,097,139	22,097,139	8,036,022	8,036,022
Cost of sales	(7,233,820)	(7,235,069)	(2,621,460)	(2,621,932)
Gross profit	14,863,319	14,862,070	5,414,562	5,414,090

Sales and marketing expenses	(5,374,962)	(5,371,613)	(1,821,871)	(1,820,697)
Administrative expenses	(1,192,351)	(1,151,471)	(518,212)	(504,853)
Other operating income/(expenses)	560,334	560,334	251,857	251,857
Income from operations before special items	8,856,340	8,899,320	3,326,336	3,340,397

Special items	(36,410)	(36,410)	(9,636)	(9,636)
Income from operations	8,819,930	8,862,910	3,316,700	3,330,761

Finance cost	(1,150,867)	(1,088,143)	(550,711)	(528,138)
Finance income	515,555	515,555	183,866	183,866
Net finance cost	(635,312)	(572,588)	(366,845)	(344,272)

Share of results of associates	91	91	32	32
Income before income tax	8,184,709	8,290,413	2,949,887	2,986,521

Income tax expense	(1,419,446)	(1,432,490)	(448,185)	(452,877)
Net income	6,765,263	6,857,923	2,501,702	2,533,644

Attributable to:
Equity holders of Ambev	6,695,004	6,787,664	2,476,892	2,508,834
Non-controlling interests	70,259	70,259	24,810	24,810

Interim Consolidated Balance Sheets

As of December 31, 2012

There was no impact on Equity and Liabilities.

Except for IAS 19 (Revised 2011), the standards above did not have a significant impact on Ambev’s consolidated financial statements upon initial application.

Other Standards, Interpretations and Amendments to Standards

The additional mandatory amendments with effective application for the financial year beginning on January 1, 2013 have not been listed because of either their non-applicability to or their immateriality to the Company.

4. INVESTMENT SECURITIES

	09/30/2013	12/31/2012
Current investments
Financial asset at fair value through profit or loss-held for trading	612,489	291,183
Equity securities available-for-sale	-	185,424
	612,489	476,607

Non-current investments
Equity securities available-for-sale	173,121	187,943
Debt held-to-maturity	69,435	61,436
	242,556	249,379

Financial assets at fair value through profit or loss - held for trading

In general, investments in debt securities with original maturities of greater than three months and remaining maturities of less than one year are classified as short-term investments. Investments with maturities beyond one year may be classified as short-term based on their highly liquid nature and because such marketable securities represent the investment of cash that is available for current operations of the Company.

Financial assets at fair value through profit or loss are presented in Investments activities as part of changes in working capital in the Cash flow statement. Changes in fair values of financial assets at fair value through profit or loss are recorded as net finance cost in the income statement (Note 16 - Finance cost and income).

Equity securities available-for-sale

Equity securities of R$173,121 (R$187,943 at December 31, 2012), classified as available-for-sale (non-current assets) in the financial statements as of September 30, 2013, refers to the operation on October 20, 2010 pursuant to which Ambev and Cervecería Regional S.A. (“Cervecería Regional”) combined their businesses in Venezuela, whereupon Cervecería Regional assumed an 85% interest and Ambev the remaining 15%, which was recorded at fair value on the purchase date and adjusted by exchange variation, net of reductions in the recoverable amount of the asset. As of September 30, the Company recorded in the income statement an impairment charge of R$30,333 against this investment, mainly as a result of the currency devaluation, registered as other financial cost (Note 16 - Finance cost and income), which was partially offset by foreign exchange gain in the period.

5. INVENTORIES

	09/30/2013	12/31/2012

Finished goods	929,966	697,966
Work in progress	232,130	204,455
Raw material	1,039,394	1,195,153
Consumables	29,817	59,470
Spare parts and other	260,873	248,660
Prepayments	130,746	88,346
Impairment losses	(36,386)	(27,709)
	2,586,540	2,466,341

Losses on inventories recognized in the income statement amounted to R$67,378 as of September 30, 2013 (R$72,456 in September 30, 2012).

6. DEFERRED INCOME TAX AND SOCIAL CONTRIBUTION

Deferred taxes for income tax and social contribution taxes are calculated on tax losses, the negative tax basis of social contributions and the temporary differences between the tax bases and the carrying amount in the financial statement of assets and liabilities. The current tax rates in Brazil, used for deferred taxes, are 25% for income tax and 9% for social contribution. For the other regions, the rates used are as follows:

HILA-ex (Guatemala and Dominican Republic)	from 23% to 31%
Latin America - South	from 14% to 35%
Canada Operational	26%

The deferred taxes by type of temporary difference is detailed as follows:

	09/30/2013			12/31/2012
	Assets	Liabilities	Net	Assets	Liabilities	Net
Trade and other receivables	51,802	-	51,802	37,733	-	37,733
Derivatives	431,417	(4,509)	426,908	294,775	(171)	294,604
Inventories	136,726	(3,563)	133,163	115,053	(609)	114,444
Loss carryforwards	403,519	-	403,519	332,633	-	332,633
Tax credits for corporate restructuring	-	-	-	229,807	-	229,807
Employee benefits	526,085	(686)	525,399	523,724	-	523,724
Property, plant and equipment	26,109	(319,483)	(293,374)	27,647	(288,249)	(260,602)
Intangible assets	6,068	(601,322)	(595,254)	5,753	(610,295)	(604,542)
Goodwill	29,200	-	29,200	29,200	-	29,200
Trade and other payables	-	(691,382)	(691,382)	-	(413,921)	(413,921)
Interest-bearing loans and borrowings	331,795	-	331,795	120,068	(4,419)	115,649
Provisions	257,648	(7,193)	250,455	287,908	(6,103)	281,805
Interest on shareholder's equity	92,549	-	92,549	60,424	-	60,424
Partnership profit	-	(142,326)	(142,326)	-	(291,165)	(291,165)
Other items	-	(58,222)	(58,222)	-	(79,621)	(79,621)
Gross deferred tax assets / (liabilities)	2,292,918	(1,828,686)	464,232	2,064,725	(1,694,553)	370,172
Netting by taxable entity	(573,991)	573,991	-	(646,210)	646,210	-
Net deferred tax assets / (liabilities)	1,718,927	(1,254,695)	464,232	1,418,515	(1,048,343)	370,172

The Company only offsets the balances of deferred income tax and social contribution assets against liabilities when they are within the same entity and jurisdiction and are expected to be realized in the same period.

Tax losses and negative basis of social contribution and temporary deductible differences in Brazil, on which the deferred income tax and social contribution were calculated, have no expiry date.

At September 30, 2013 the deferred tax assets related to consolidated tax losses has an expected utilization as follows:

	09/30/2013	12/31/2012
2013	130,243	31,090
2014	73,812	79,858
2015	70,155	48,064
Beyond 2016 (i)	129,309	173,621
	403,519	332,633

(i) There is no expected realization that exceed the period of 10 years.

Part of the tax benefit corresponding to the tax losses from previous periods and temporary differences of subsidiaries abroad was not recorded as an asset, as Management is unable to conclude with a sufficient degree of certainty that realization is probable.

The tax losses carried forward in relation to these unrecognized deferred tax assets are equivalent to R$912,907 at September 30, 2013 (R$1.1 billion at December 31, 2012). The total unrecognized deferred tax assets related to tax losses carried forward in subsidiaries amount to R$228,520 at September 30, 2013 (R$331,151 at December 31, 2012) and the expiry term is on average five years.

The change in net deferred taxes recorded in the consolidated statement of financial position is detailed as follows:

Balance at December 31, 2012	370,172
Recognized in Income statement	(101,550)
Recognized in Equity	195,610
Balance at September 30, 2013	464,232

7. PROPERTY, PLANT AND EQUIPMENT

	09/30/2013					12/31/2012
	Land and buildings	Plant and equipment	Fixtures and fittings	Under construction	Total	Total
Acquisition cost
Balance at end of previous year	4,488,978	14,139,613	2,825,966	1,601,521	23,056,078	19,818,381
Effect of movements in foreign exchange	29,007	122,884	19,887	(932)	170,846	582,016
Acquisitions through business combinations	-	-	-	2,590	2,590	721,862
Acquisitions	7,450	180,506	47,556	2,029,402	2,264,914	2,971,471
Disposals through the sale of subsidiary	-	-	-	-	-	-
Disposals	(10,311)	(350,197)	(240,181)	-	(600,689)	(941,721)
Transfer to other asset categories	542,992	1,116,194	253,914	(1,977,412)	(64,312)	(97,831)
Others	91	219	(158)	-	152	1,900
Balance at end	5,058,207	15,209,219	2,906,984	1,655,169	24,829,579	23,056,078

Depreciation and Impairment
Balance at end of previous year	(1,489,346)	(8,169,640)	(1,984,812)	-	(11,643,798)	(10,553,171)
Effect of movements in foreign exchange	(17,714)	(105,190)	(13,953)	-	(136,857)	(378,608)
Depreciation	(111,890)	(956,364)	(242,417)	-	(1,310,671)	(1,560,812)
Impairment losses	-	(48,840)	(59)	-	(48,899)	(56,443)
Disposals	10,023	304,874	238,217	-	553,114	855,779
Transfer to other asset categories	(7,294)	(17,311)	7,603	-	(17,002)	46,144
Others	-	933	(38)	-	895	3,313
Balance at end	(1,616,221)	(8,991,538)	(1,995,459)	-	(12,603,218)	(11,643,798)
Carrying amount:
December 31, 2012	2,999,632	5,969,973	841,154	1,601,521	11,412,280	11,412,280
September 30, 2013	3,441,986	6,217,681	911,525	1,655,169	12,226,361

Acquisitions in the period refer substantially to modernization, refurbishment, extension of production lines and construction of new plants in order to increase capacity.

Capitalized interest on loans, which is directly attributable to the acquisition and construction of qualifying assets, is mainly recognized on investments in Brazil. The interest capitalization average rate used in 2013 was 6.36% per year (11.29% in 2012).

The Company leases plant, equipment, fixtures and fittings, which are accounted for as financial leases. The carrying amount of the leased assets was R$21,377 as of September 30, 2013 (R$47,772 as of December 31, 2012).

Contractual commitments to purchase property, plant and equipment amounted to R$195,817 as of September 30, 2013 (R$212,668 as of December 31, 2012).

8. GOODWILL

	09/30/2013	12/31/2012

Balance at the end of previous period	19,971,456	17,454,019
Movements in the period	(50,013)	2,517,437	(i)
Balance at the end of period	19,921,443	19,971,456

(i) In 2012, the change refers mainly to the acquisition of CND as already presented in the annual financial statement.

The carrying amount of goodwill was allocated to the different cash generating units as follows:

	Functional Currency	09/30/2013	12/31/2012
LAN:
Brazil	BRL	687,532	594,262
Dominican Republic	DOP	2,310,896	2,484,679

LAS:
Argentina	ARS	1,186,799	1,227,366
Bolivia	BOB	440,694	403,839
Ecuador	USD	770	770
Paraguay	PYG	358,639	342,207
Peru	PEN	44,402	44,479
Uruguay	UYU	81,212	83,917

NA:
Canada Holding	BRL (i)	14,414,448	14,414,448
Canada Operational	CAD	396,051	375,489
		19,921,443	19,971,456

(i) For acquisitions occurred prior to January 1, 2005, the goodwill was recorded in accordance with the accounting practices adopted in Brazil at that time.

Annual impairment testing

The cash-generating unit to which the goodwill based on expected future profitability was allocated, is tested annually for impairment, or whenever there is an indication that the cash-generating unit is undervalued, comparing its carrying amount (including goodwill based on expected futures profitability) with the recoverable amount of the unit. As of September 30, 2013 the Company had not observed any indication that a cash-generating unit could be undervalued. The impairment test will be performed during the last quarter of the current year.

9. INTEREST-BEARING LOANS AND BORROWINGS

This note provides information about contractual information on the position of loans and financing of the Company. Note 19 - Financial instruments and risks discloses additional information with respect to exposure of the Company to the risks of interest rate and currency.

	09/30/2013	12/31/2012

Current liabilities
Secured bank loans	151,306	65,170
Unsecured bank loans	729,623	753,819
Other unsecured loans	16,060	17,200
Financial leasing	865	1,583
	897,854	837,772

Non-current liabilities
Secured bank loans	433,150	243,833
Unsecured bank loans	1,160,141	1,462,331
Debentures and unsecured bond issues	340,306	429,745
Other unsecured loans	148,565	151,493
Financial leasing	19,687	18,555
	2,101,849	2,305,957

Contract clauses (covenants)

During the period there were no significant changes in contract clauses of loans and borrowings contracted by the Company.

As of September 30, 2013 the Company was in compliance with all its contractual obligations for its loans and financings.

10. PROVISIONS


	Balance as of December 31, 2012	Effect of changes in foreign exchange rates	Provisions made	Provisions used and reversed	Balance as of September 30, 2013

Restructuring
Non-current restructuring	4,382	240	5,821	(5,201)	5,242

Contingencies
Civil	30,531	(931)	13,148	(17,350)	25,398
Taxes on sales	183,643	-	101,385	(153,713)	131,315
Income tax	150,868	1,959	3,876	(8,113)	148,590
Labor	180,133	(216)	160,733	(167,307)	173,343
Others	105,971	839	15,533	(18,082)	104,261
Total	651,146	1,651	294,675	(364,565)	582,907

Total provisions	655,528	1,891	300,496	(369,766)	588,149




	Total	1 year or less	1-2 years	2-5 years	Over 5 years
Restructuring
Non-current restructuring	5,242	4,743	499	-	-

Contingencies
Civil	25,398	5,889	6,122	12,474	913
Taxes on sales	131,315	37,409	29,469	60,044	4,393
Income tax	148,590	27,608	37,966	77,356	5,660
Labor	173,343	48,753	39,098	79,663	5,829
Others	104,261	11,627	29,070	59,230	4,334
Total	582,907	131,286	141,725	288,767	21,129

Total provisions	588,149	136,029	142,224	288,767	21,129

The expected settlement was based on management´s best estimate at the balance sheet date.

Main lawsuits with probable likelihood of loss:

ICMS, IPI, PIS and COFINS (Taxes on sales)

In Brazil, the Company and its subsidiaries are involved in several administrative and judicial proceedings related to ICMS, IPI, PIS and COFINS taxes. Such proceedings include, among others, tax offsets, credits and judicial injunctions exempting tax payment. The provisions for these taxes as of September 30, 2013 are R$131,315 (R$183,643 as of December 31, 2012).

Labor

The Company and its subsidiaries are involved in 4,182 thousand labor proceedings, with probable likelihood of loss, with former employees or former employees of service providers. The main issues involve overtime and related effects and respective charges. The provisions for labor contingencies as of September 30, 2013 was R$173,343 (R$180,133 as of December 31, 2012).

Other lawsuits

The Company is involved in several lawsuits brought by former distributors mainly in Brazil, which are mainly claiming damages resulting from the termination of their contracts.

The lawsuits with possible likelihood of loss are disclosed in Note 21.

11. CHANGES IN EQUITY

(a) Capital stock

Outstanding shares
(in thousand of shares)			09/30/2013	12/31/2012

	Preferred	Common	Total	Total
At the end of the previous year	1,372,093	1,755,466	3,127,559	3,117,797
Changes during the period	2,696	2,032	4,728	9,762
	1,374,789	1,757,498	3,132,287	3,127,559


Treasury shares
(in thousand of shares)			09/30/2013	12/31/2012
	Preferred	Common	Total	Total
At the end of the previous year	166	484	650	608
Changes during the period	(166)	(484)	(650)	42
	-	-	-	650

Our Common shares grant the right to vote at shareholder meetings. Our Preferred shares are non-voting (except when established in law), but have priority in the return of capital in the event of liquidation and are entitled to a dividend premium of 10% over the amount paid to the Common shareholders.

Changes in equity during the period of 2013:

The Board of Directors meeting held on May 10, 2013 approved, within the limit of the authorized capital of the Company in accordance with article 9 of its By-laws, as well as article 168 of Law No. 6,404/76, as amended, a capital increase of R$11,484, upon issuance of 511 thousand Preferred shares without preemptive rights, pursuant to paragraph 3 of article 171 of Law No. 6,404/76 and the rules established under the Stock Option Plan applicable.

The Board of Directors meeting held on March 27, 2013 approved, within the limit of the authorized capital of the Company in accordance with article 9 of its By-laws, as well as article 168 of Law No. 6,404/76, as amended, a capital increase of R$25,613, upon issuance of 377 thousand Preferred shares without preemptive rights, pursuant to paragraph 3 of article 171 of Law No. 6,404/76 and the rules established under the Stock Option Plan applicable.

Thus, after verification of the subscription and payment by the shareholders of the Company, 2,520 thousand new Common shares and 1,970 thousand Preferred shares were issued as deliberated by the Board of Directors at a meeting held on January 31 and February 1, 2013, increasing capital by R$410,101 corresponding to the capitalization of 70% of the tax benefit earned by the Company upon the partial amortization of the special reserve of goodwill in fiscal year 2012, which was proposed in the Board of Directors held on January 31 and February 1, 2013.

The Board of Directors meeting held on January 31 and February 1, 2013, approved a capital increase of R$107,470, corresponding to the capitalization of 30% of the tax benefit earned by the Company upon the partial amortization of the special reserve of goodwill in fiscal year 2012, without issuing new shares.

After the changes described above, the Company's capital stock was R$12,742,017 as of September 30, 2013, divided into 3,132,287 thousand shares, consisting of 1,757,498 thousand Common shares and 1,374,789 thousand Preferred shares.

Changes in equity during the period of 2012:

In the Board of Directors meeting held on July 26, 2012, after verification of the subscription and payment by the shareholders of the Company of 4,265 thousand newly issued Common shares and 3,329 thousand newly issued Preferred shares, issued pursuant to the EGM held on April 27, 2012, the meeting ratified an increase in the capital stock of the Company of R$432.3 and allocated R$0.3 to the Gain on shares issued capital reserve.

Additionally, a capital increase was approved of R$1.6, with no issuance of shares and within the authorized capital limit, in accordance with Section 9 of the By-Laws, by means of the capitalization of the Investment Reserve account.

As a result of these resolutions, capital was increased to R$12,176,962 on July 26, 2012, divided into 3,126,755 thousand shares, being 1,755,400 thousand Common shares and 1,371,355 thousand Preferred shares.

The Board of Directors at a meeting held on May 30, 2012, approved and ratified, within the Company’s limit of authorized capital, in accordance with article 9 of its By-laws, as well as article 168 of Law n. 6,404/76, as amended, a capital increase of R$20,391, upon issuance of 1,034 thousand new Preferred shares, with an average issuance price of R$ 19,71 per share, without preemptive rights, pursuant to paragraph 3 of article 171 of Law n. 6,404/76 and the rules established under the Stock Option Plan applicable. Thus, the Company’s capital stock increased from R$ 11,722,667 to R$ 11,743,057 on May 30, 2012, divided into 3,119,162 thousand shares, of which 1,751,135 thousand are Common shares and 1,368,027 thousand are Preferred shares, without par value.

The EGM held on April 27, 2012, approved the following changes to the Company’s capital stock:

i) Capital increase of R$110,964, without issuance of new shares, corresponding to the capitalization of 30% of the tax benefit earned by the Company upon the partial amortization of the Special reserve of goodwill in fiscal year 2011.

ii) Capital increase of R$3,290,295, without issuance of new shares, through the partial capitalization of the Investments Reserve balance on the Equity of the Company.

The same EGM held on April 27, 2012 approved a capital increase of a minimum amount of R$258,918 and maximum of R$432,285 through the issuance of: (a) at least 3,157 thousand and a maximum of 4,265 thousand Common shares, without par value, (b) at least 1,506 thousand and a maximum of 3,329 thousand Preferred shares without par value, still subject to approval. After the expiry date for exercising the subscription rights by the shareholders, the Board of Directors will allocate any surplus and, as appropriate, fully or partially approve this capital increase, as it reaches the value minimum threshold.

The Board of Directors at a meeting held on March 22, 2012, approved and ratified, within the Company’s limit of authorized capital, in accordance with article 9 of its By-laws, as well as article 168 of Law No. 6,404/76, as amended, a capital increase of R$17,472, upon issuance of 330 thousand new Preferred shares, without preemptive rights, pursuant to paragraph 3 of article 171 of Law No. 6,404/76 and the rules established under the Stock Option Plan currently in force, fully subscribed by the beneficiaries of the options granted in connection with the Company’s Stock Option Program for 2012. Thus, the Company’s capital stock increased from R$8,303,936 to R$8,321,408 on March 22, 2012, divided into 3,118,128 thousand shares, of which 1,751,135 thousand are Common shares and 1,366,992 thousand are Preferred shares, without par value.

(b) Capital reserves

	Capital reserves
	Treasury shares	Share Premium	Gain on shares issued	Others capital reserve	Share-based payments	Results on treasury shares	Capital reserves
At January 1, 2013	(3,875)	8,335	4,983,374	1,371,074	554,048	(163,144)	6,749,812

Other comprehensive income
Shares issued	-	-	-	(358,235)	(15,169)	-	(373,404)
Share-based payment	-	-	-	-	113,526	-	113,526
Treasury shares	3,875	-	-	-	-	(34,792)	(30,917)
At September 30, 2013	-	8,335	4,983,374	1,012,839	652,405	(197,936)	6,459,017






	Capital reserves
	Treasury shares	Share Premium	Gain on shares issued	Others capital reserve	Share-based payments	Results on treasury shares	Capital reserves
At January 1, 2012	2,750	8,335	4,983,056	1,740,957	435,075	(140,115)	7,030,058

Shares issued	-	-	-	(369,883)	(11,527)	-	(381,410)
Share-based payment	-	-	318	-	94,928	-	95,246
Treasury shares	3,733	-	-	-	-	(25,272)	(21,539)
At September 30, 2012	6,483	8,335	4,983,374	1,371,074	518,476	(165,387)	6,722,355

(b.1) Treasury shares

The treasury shares comprise own issued shares reacquired by the Company. The gains and losses related to share-based payments transactions and resale of treasury shares are recorded in the Result on Treasury Shares reserve.

(b.2) Share-based payment

There are different share-based payment programs and stock option plans which allow the senior management from Ambev economic group to receive or acquire shares of the Company.

The share-based payment reserve recorded a charge of R$120,319 at September 30, 2013 (R$104,229 at September 30, 2012) (Note 18).

(c) Net income reserve

	Net income reserve

	Investments reserve	Statutory reserve	Fiscal incentive	Additional dividends	Net income reserve
At January 1, 2013	9,748,260	208,832	1,427,308	1,870,595	13,254,995

Other comprehensive income
Dividends	-	-	-	(1,854,010)	(1,854,010)
At September 30, 2013	9,748,260	208,832	1,427,308	16,585	11,400,985

	Net income reserve
	Investments reserve	Statutory reserve	Fiscal incentive	Additional dividends	Net income reserve
At January 1, 2012	10,643,510	208,832	1,030,977	697,865	12,581,184

Shares issued	(3,291,913)	-	-	-	(3,291,913)
Dividends	-	-	-	(681,355)	(681,355)
At September 30, 2012	7,351,597	208,832	1,030,977	16,510	8,607,916

(c.1) Investments reserve

The investment reserve refers to the allocation of profits in order to meet the projected business growth set out in the investment plan of the Company.

(c.2) Statutory Reserve

From net income, 5% will be applied before any other allocation, to the statutory reserve, which cannot exceed 20% of capital stock. The Company is not required to supplement the statutory reserve in the year when the balance of this reserve, plus the amount of capital reserves, exceeds 30% of the capital stock.

The statutory reserve is to preserve capital resources and can only be used to offset losses or increase capital.

(c.3) Tax incentives

The Company participates in ICMS (VAT) tax benefit programs offered by various States in order to attract investments to their region, in the form of financing, VAT deferral or partial reductions of amounts due. These State programs aim to promote employment, regional decentralization, complementation and diversification of the State’s industrial framework. In these States, the grace and enjoyment periods, reductions and other conditions are provided by the tax legislation.

Some States and Public Prosecutors have filed Direct Actions of Unconstitutionality (ADIs) in the Supreme Court to challenge the constitutionality of certain State laws imposing tax incentive programs unilaterally, without the prior approval of CONFAZ (the Council formed by all the 27 Treasury Secretariats).

The Company does not make use of tax incentives that were declared unconstitutional by the Supreme Court.

The portion of the expected income for the period relating to tax incentives, which will be used for the net income reserve at the close of the period ended December 31, 2013, and are therefore not available as a basis for distribution of dividends, is composed of:

	09/30/2013	09/30/2012

ICMS (Brazilian State value added)	531,562	369,147
Income tax	31,030	66,324
	562,592	435,471

(c.4) Interest on shareholders’ equity / Dividends

Brazilian companies are permitted to distribute interest attributed to shareholders’ equity calculated based on the long-term interest rate (TJLP), such interest being tax-deductible and, when distributed, may be considered part of the mandatory dividends.

As determined by its By-laws, the Company is required to distribute to its shareholders, as a mandatory dividend in respect of each fiscal year ending on December 31, an amount not less than 35% of its net income determined under Brazilian law, as adjusted in accordance with applicable law, unless payment of such amount would be incompatible with Ambev’s financial situation. The mandatory dividend includes amounts paid as interest on shareholder’s equity.

Events during the period of 2013:

Event

Approval

Type

Date of payment

Type of share

Ammount per share

Total amount

Board of Directors Meeting

02/25/2013

Dividends

03/28/2013

Common

0.5680

996,830

(i)

Board of Directors Meeting

02/25/2013

Dividends

03/28/2013

Preferred

0.6248

857,180

(i)

Board of Directors Meeting

09/26/2013

Dividends

09/27/2013

Common

0.6500

1,142,374

Board of Directors Meeting

09/26/2013

Dividends

09/27/2013

Preferred

0.6500

893,613

3,889,997

Board of Directors Meeting

02/25/2013

Interest on shareholder's equity

03/28/2013

Common

0.0800

140,398

Board of Directors Meeting

02/25/2013

Interest on shareholder's equity

03/28/2013

Preferred

0.0880

120,730

261,128

(i) These dividends refer to the total amount approved for distribution in the period, and were accrued in fiscal year of 2012.

Events during the period of 2012:

Event

Approval

Type

Date of payment

Type of share

Ammount per share

Total amount

Board of Directors Meeting

02/17/2012

Dividends

04/10/2012

Common

0.6000

1,050,375

(i)

Board of Directors Meeting

02/17/2012

Dividends

04/10/2012

Preferred

0.6600

901,928

(i)

Board of Directors Meeting

05/30/2012

Dividends

07/27/2012

Common

0.2140

374,634

Board of Directors Meeting

05/30/2012

Dividends

07/27/2012

Preferred

0.2354

321,689

Board of Directors Meeting

05/30/2012

Dividends

07/27/2012

Common

0.0500

87,532

Board of Directors Meeting

05/30/2012

Dividends

07/27/2012

Preferred

0.0550

75,226

Board of Directors Meeting

09/18/2012

Dividends

10/15/2012

Common

0.4200

737,065

Board of Directors Meeting

09/18/2012

Dividends

10/15/2012

Preferred

0.4620

633,544

4,181,993

Board of Directors Meeting

02/17/2012

Interest on shareholder's equity

04/10/2012

Common

0.1800

315,113

Board of Directors Meeting

02/17/2012

Interest on shareholder's equity

04/10/2012

Preferred

0.1980

270,578

Board of Directors Meeting

05/30/2012

Interest on shareholder's equity

07/27/2012

Common

0.1200

210,077

Board of Directors Meeting

05/30/2012

Interest on shareholder's equity

07/27/2012

Preferred

0.1320

180,541

Board of Directors Meeting

09/18/2012

Interest on shareholder's equity

10/15/2012

Common

0.1100

193,041

Board of Directors Meeting

09/18/2012

Interest on shareholder's equity

10/15/2012

Preferred

0.1210

165,928

1,335,278

(i) These dividends refer to the total amount approved for distribution in the period, and were accrued in fiscal year of 2011.

(c.5) Proposed dividends and additional dividends

The reserves for proposed dividends and additional dividends proposed are designed to segregate the dividends to be distributed during the following fiscal year.

The dividends and additional dividends were initially allocated due to legal aspects based on Corporate Law.

(d) Comprehensive income

	Comprehensive income

	Translation reserves	Cash flow *hedge*	Gains/losses of non-controlling interest´s share	Business combination	Put option of a subsidiary interest	Actuarial gains/ losses	Comprehensive income
At January 1, 2013	(119,788)	86,936	(5,213)	156,091	(1,980,887)	(1,465,551)	(3,328,412)
Effects of changes in accounting standards	-	-	-	-	-	253,516	253,516
At January 1, 2013 adjusted	(119,788)	86,936	(5,213)	156,091	(1,980,887)	(1,212,035)	(3,074,896)

Other comprehensive income
Translation reserves - gains / (losses)	64,268	-	-	-	-	-	64,268
Cash flow hedges - gains / (losses)	-	(37,247)	-	-	-	-	(37,247)
Actuarial gain / (losses)	-	-	-	-	-	8,686	8,686
Total Comprehensive income	64,268	(37,247)	-	-	-	8,686	35,707
Put option to acquire interest in a subsidiary	-	-	-	-	(76,394)	-	(76,394)
Gains/(losses) of non-controlling interest´s share	-	-	(336,372)	-	-	-	(336,372)
At September 30, 2013	(55,520)	49,689	(341,585)	156,091	(2,057,281)	(1,203,349)	(3,451,955)

	Comprehensive income
	Translation reserves	Cash flow *hedge*	Gains/losses of non-controlling interest´s share	Business combination	Put option of a subsidiary interest	Actuarial gains/ losses	Comprehensive income
At January 1, 2012	(997,025)	46,304	1,473	-	-	(1,354,610)	(2,303,858)
Effects of changes in accounting standards	-	-	-	-	-	117,409	117,409
At January 1, 2012 adjusted	(997,025)	46,304	1,473	-	-	(1,237,201)	(2,186,449)

Effects of changes in accounting standards	-	-	-	-	-	92,660	92,660
Translation reserves - gains / (losses)	103,428	-	-	-	-	-	103,428
Cash flow hedges - gains / (losses)	-	148,628	-	-	-	-	148,628
Actuarial gain / (losses)	-	-	-	-	-	(64,290)	(64,290)
Total Comprehensive income	103,428	148,628	-	-	-	28,370	280,426
Put option to acquire interest in a subsidiary	-	-	-	-	(1,978,275)	-	(1,978,275)
Gains/(losses) of non-controlling interest´s share	-	-	(6,686)	170,604	-	-	163,918
At September 30, 2012	(893,597)	194,932	(5,213)	170,604	(1,978,275)	(1,208,831)	(3,720,380)

(d.1) Translation reserves

The translation reserves comprise all foreign currency exchange differences arising from the translation of the financial statements with a functional currency different from the Real.

(d.2) Cash flow hedging reserves

The hedging reserves comprise the effective portion of the cumulative net change in the fair value of cash flow hedges to the extent the hedged risk has not yet impacted profit or loss (Note 19).

(d.3) Put option of a subsidiary interest

As part of the shareholders agreement between the Ambev and ELJ, an option to sell (“put”) and to purchase (“call”) was issued, which may result in an acquisition by Ambev of the remaining shares of CND, for a value based on EBITDA multiples and exercisable annually until 2019.

(d.4) Actuarial gains and losses

The actuarial gains and losses include expectations with regards to the future pension plans obligations. Consequently, the results of actuarial gains and losses are recognized on a timely basis considering best estimate obtained by Management. Accordingly, the Company recognizes on a quarterly basis the results of these estimated actuarial gains and losses according to the expectations presented based on an independent actuarial report.

(e) Authorized capital

The Company is authorized to increase its capital stock up to 3,500,000 thousand shares, without need of by-law amendment, upon the Board of Directors’ resolution, which may resolve on the payment terms and conditions, characteristics of shares to be issued and issuance price, and also establish whether the capital stock shall be increased by means of public or private subscription.

12. SEGMENT REPORTING

Segment information is presented in geographical areas, since the risks and return rates are affected predominantly by the fact that the Company operates in different regions. The Company's management structure and the information reported to the main decision maker are structured in a similar way. Ambev operates its business through three areas identified as reportable segments (Latin America - North, Latin America - South and Canada). The performance information by business units (Beer and Carbonated soft drinks – “CSD”), is also used by the decision maker for the Company and is presented as additional information, even though it does not qualify as a reportable segment. Internally, the Company’s management uses performance indicators, such as normalized earnings before interest and taxes (normalized EBIT) and normalized earnings before interest, taxes, depreciation and amortization (normalized EBITDA) as measures of segment performance to make decisions about resource allocation and performance analysis. These indicators are reconciled to the profit of the segment in the tables below. Whenever used in this document, the term “normalized” refers to performance measures (EBITDA, EBIT, Profit, EPS) before exceptional item adjustments.

The information is presented in thousands of Brazilian Reais, except for volumes, which are presented in thousands of hectoliters.

As from January 1, 2013, the Company transferred management responsibility for Ecuador and Peru to the Latin America South Zone. These countries were previously reported within the Latin America North Zone. The 2012 Latin America South and Latin America North information have been adjusted for comparative purposes.

(a) Reportable segments - For the nine-month periods ended:

	Latin America - north (i)		Latin America - south		Canada		Consolidated
(Expressed in thousand of Brazilian Reais)	09/30/2013	09/30/2012	09/30/2013	09/30/2012	09/30/2013	09/30/2012	09/30/2013	09/30/2012

Volume	83,686	86,219	25,540	26,749	6,954	7,171	116,181	120,139

Net sales	15,844,671	14,973,126	4,709,895	4,124,575	3,183,976	2,999,438	23,738,542	22,097,139
Cost of sales	(5,232,034)	(4,700,229)	(1,877,304)	(1,690,567)	(921,961)	(843,024)	(8,031,299)	(7,233,820)
Gross profit	10,612,637	10,272,897	2,832,591	2,434,008	2,262,015	2,156,414	15,707,243	14,863,319
Sales and marketing expenses	(4,103,265)	(3,570,443)	(1,014,526)	(879,932)	(955,549)	(924,587)	(6,073,340)	(5,374,962)
Administrative expenses	(811,138)	(929,578)	(183,783)	(158,264)	(110,553)	(104,509)	(1,105,474)	(1,192,351)
Other operating income/(expenses)	1,017,768	559,469	(20,585)	(4,381)	5,374	5,246	1,002,557	560,334
Normalized income from operations (normalized EBIT)	6,716,002	6,332,345	1,613,697	1,391,431	1,201,287	1,132,564	9,530,986	8,856,340
Special items	(3,185)	(36,410)	(4,444)	-	(5,546)	-	(13,175)	(36,410)
Income from operations (EBIT)	6,712,817	6,295,935	1,609,253	1,391,431	1,195,741	1,132,564	9,517,811	8,819,930
Net finance cost	(739,281)	(540,028)	(275,943)	(48,595)	10,236	(46,689)	(1,004,988)	(635,312)
Share of result of associates	4,454	-	-	-	1,223	91	5,677	91
Income before income tax	5,977,990	5,755,907	1,333,310	1,342,836	1,207,200	1,085,966	8,518,500	8,184,709
Income tax expense	(889,653)	(677,512)	(637,094)	(390,613)	(356,498)	(351,321)	(1,883,245)	(1,419,446)
Net income	5,088,337	5,078,395	696,216	952,223	850,702	734,645	6,635,255	6,765,263


Normalized EBITDA	7,784,274	7,239,782	1,916,371	1,652,623	1,315,548	1,232,004	11,016,193	10,124,409
Special items	(3,185)	(36,410)	(4,444)	-	(5,546)	-	(13,175)	(36,410)
Depreciation, amortization and impairment	(1,068,272)	(907,437)	(302,674)	(261,192)	(114,261)	(99,440)	(1,485,207)	(1,268,069)
Net finance costs	(739,281)	(540,028)	(275,943)	(48,595)	10,236	(46,689)	(1,004,988)	(635,312)
Share of results of associates	4,454	-	-	-	1,223	91	5,677	91
Income tax expense	(889,653)	(677,512)	(637,094)	(390,613)	(356,498)	(351,321)	(1,883,245)	(1,419,446)
Net income	5,088,337	5,078,395	696,216	952,223	850,702	734,645	6,635,255	6,765,263

Normalized EBITDA margin in %	49.1%	48.4%	40.7%	40.1%	41.3%	41.1%	46.4%	45.8%

Acquisition of property, plant and equipment	1,911,790	1,593,577	358,843	352,883	125,775	77,446	2,396,408	2,023,906
Additions to / (reversals of) provisions	178,297	192,152	2,004	3,388	3,094	12,337	183,395	207,877
Full time employee - Average	37,355	36,203	10,194	10,341	4,866	4,893	52,415	51,437


	09/30/2013	12/31/2012	09/30/2013	12/31/2012	09/30/2013	12/31/2012	09/30/2013	12/31/2012

Segment assets	20,543,371	19,159,354	7,189,259	7,609,711	17,414,825	17,301,943	45,147,455	44,071,008
Intersegment elimination							(1,700,211)	(1,884,566)
Non-segmented assets							8,306,071	11,973,327
Total assets							51,753,315	54,159,769

Segment liabilities	10,764,673	14,651,098	2,877,911	3,642,076	2,600,841	2,490,474	16,243,425	20,783,648
Intersegment elimination							(1,700,211)	(1,884,566)
Non-segmented liabilities							37,210,101	35,260,687
Total liabilities							51,753,315	54,159,769

(i) Latin America – North: includes operations in Brazil and HILA-ex: Guatemala and Dominican Republic.
(ii) Latin America – South: includes operations in Argentina, Bolivia, Chile, Ecuador, Paraguay , Peru and Uruguay.

(b) Additional information – by Business unit - For the nine-month periods ended:

	Latin America - north
(Expressed in thousand of Brazilian Reais)	Beer		Soft drink		Total
	09/30/2013	09/30/2012	09/30/2013	09/30/2012	09/30/2013	09/30/2012

Volume	61,571	63,622	22,115	22,597	83,686	86,219

Net sales	13,131,662	12,488,553	2,713,009	2,484,573	15,844,671	14,973,126
Cost of sales	(3,915,784)	(3,608,768)	(1,316,250)	(1,091,461)	(5,232,034)	(4,700,229)
Gross profit	9,215,878	8,879,785	1,396,759	1,393,112	10,612,637	10,272,897
Sales and marketing expenses	(3,516,083)	(3,056,855)	(587,182)	(513,588)	(4,103,265)	(3,570,443)
Administrative expenses	(730,850)	(824,547)	(80,288)	(105,031)	(811,138)	(929,578)
Other operating income/(expenses)	806,702	400,497	211,066	158,972	1,017,768	559,469
Normalized income from operations (normalized EBIT)	5,775,647	5,398,880	940,355	933,465	6,716,002	6,332,345
Special items	(2,333)	(34,665)	(852)	(1,745)	(3,185)	(36,410)
Income from operations (EBIT)	5,773,314	5,364,215	939,503	931,720	6,712,817	6,295,935
Net finance cost	(739,281)	(540,028)	-	-	(739,281)	(540,028)
Share of result of associates	4,454	-	-	-	4,454	-
Income before income tax	5,038,487	4,824,187	939,503	931,720	5,977,990	5,755,907
Income tax expense	(889,653)	(677,512)	-	-	(889,653)	(677,512)
Net income	4,148,834	4,146,675	939,503	931,720	5,088,337	5,078,395


Normalized EBITDA	6,637,697	6,118,982	1,146,577	1,120,800	7,784,274	7,239,782
Special items	(2,333)	(34,665)	(852)	(1,745)	(3,185)	(36,410)
Depreciation, amortization and impairment	(862,050)	(720,102)	(206,222)	(187,335)	(1,068,272)	(907,437)
Net finance costs	(739,281)	(540,028)	-	-	(739,281)	(540,028)
Share of results of associates	4,454	-	-	-	4,454	-
Income tax expense	(889,653)	(677,512)	-	-	(889,653)	(677,512)
Net income	4,148,834	4,146,675	939,503	931,720	5,088,337	5,078,395

Normalized EBITDA margin in %	50.5%	49.0%	42.3%	45.1%	49.1%	48.4%

	Brazil
	Beer		Soft drink		Total
(Expressed in thousand of Brazilian Reais)	09/30/2013	09/30/2012	09/30/2013	09/30/2012	09/30/2013	09/30/2012

Volume	58,328	61,191	21,154	21,673	79,482	82,864

Net sales	12,395,432	12,027,350	2,483,339	2,351,053	14,878,771	14,378,403
Cost of sales	(3,645,526)	(3,377,995)	(1,132,580)	(1,017,150)	(4,778,106)	(4,395,145)
Gross profit	8,749,906	8,649,355	1,350,759	1,333,903	10,100,665	9,983,258
Sales and marketing expenses	(3,325,804)	(2,924,195)	(527,954)	(467,107)	(3,853,758)	(3,391,302)
Administrative expenses	(669,848)	(769,455)	(59,039)	(83,408)	(728,887)	(852,863)
Other operating income/(expenses)	818,996	399,725	202,571	158,566	1,021,567	558,291
Normalized income from operations (normalized EBIT)	5,573,250	5,355,430	966,337	941,954	6,539,587	6,297,384
Special items	-	(19,079)	-	-	-	(19,079)
Income from operations (EBIT)	5,573,250	5,336,351	966,337	941,954	6,539,587	6,278,305
Net finance cost	(726,115)	(513,535)	-	-	(726,115)	(513,535)
Share of result of associates	4,454	-	-	-	4,454	-
Income before income tax	4,851,589	4,822,816	966,337	941,954	5,817,926	5,764,770
Income tax expense	(849,463)	(654,260)	-	-	(849,463)	(654,260)
Net income	4,002,126	4,168,556	966,337	941,954	4,968,463	5,110,510


Normalized EBITDA	6,354,283	6,023,603	1,146,381	1,110,485	7,500,664	7,134,088
Special items	-	(19,079)	-	-	-	(19,079)
Depreciation, amortization and impairment	(781,033)	(668,173)	(180,044)	(168,531)	(961,077)	(836,704)
Net finance costs	(726,115)	(513,535)	-	-	(726,115)	(513,535)
Share of results of associates	4,454	-	-	-	4,454	-
Income tax expense	(849,463)	(654,260)	-	-	(849,463)	(654,260)
Net income	4,002,126	4,168,556	966,337	941,954	4,968,463	5,110,510

Normalized EBITDA margin in %	51.3%	50.1%	46.2%	47.2%	50.4%	49.6%

	HILA-ex
	Beer		Soft drink		Total
(Expressed in thousand of Brazilian Reais)	09/30/2013	09/30/2012	09/30/2013	09/30/2012	09/30/2013	09/30/2012

Volume	3,243	2,431	961	924	4,204	3,355

Net sales	736,230	461,203	229,670	133,520	965,899	594,723
Cost of sales	(270,258)	(230,773)	(183,670)	(74,311)	(453,928)	(305,084)
Gross profit	465,972	230,430	45,999	59,209	511,971	289,639
Sales and marketing expenses	(190,279)	(132,660)	(59,228)	(46,481)	(249,507)	(179,141)
Administrative expenses	(61,002)	(55,092)	(21,249)	(21,623)	(82,251)	(76,715)
Other operating income/(expenses)	(12,294)	772	8,495	406	(3,799)	1,178
Normalized income from operations (normalized EBIT)	202,397	43,450	(25,983)	(8,489)	176,414	34,961
Special items	(2,333)	(15,586)	(852)	(1,745)	(3,185)	(17,331)
Income from operations (EBIT)	200,064	27,864	(26,835)	(10,234)	173,229	17,630
Net finance cost	(13,166)	(26,493)	-	-	(13,166)	(26,493)
Income before income tax	186,898	1,371	(26,835)	(10,234)	160,063	(8,863)
Income tax expense	(40,190)	(23,252)	-	-	(40,190)	(23,252)
Net income	146,708	(21,881)	(26,835)	(10,234)	119,873	(32,115)


Normalized EBITDA	283,414	95,379	195	10,315	283,609	105,694
Special items	(2,333)	(15,586)	(852)	(1,745)	(3,185)	(17,331)
Depreciation, amortization and impairment	(81,017)	(51,929)	(26,178)	(18,804)	(107,195)	(70,733)
Net finance costs	(13,166)	(26,493)	-	-	(13,166)	(26,493)
Income tax expense	(40,190)	(23,252)	-	-	(40,190)	(23,252)
Net income	146,708	(21,881)	(26,835)	(10,234)	119,873	(32,115)

Normalized EBITDA margin in %	38.5%	20.7%	0.1%	7.7%	29.4%	17.8%

	Latin America - south
	Beer		Soft drink		Total
(Expressed in thousand of Brazilian Reais)	09/30/2013	09/30/2012	09/30/2013	09/30/2012	09/30/2013	09/30/2012

Volume	15,019	15,695	10,521	11,054	25,540	26,749

Net sales	3,392,722	2,898,007	1,317,173	1,226,568	4,709,895	4,124,575
Cost of sales	(1,081,608)	(930,286)	(795,696)	(760,281)	(1,877,304)	(1,690,567)
Gross profit	2,311,114	1,967,721	521,477	466,287	2,832,591	2,434,008
Sales and marketing expenses	(665,974)	(564,715)	(348,552)	(315,217)	(1,014,526)	(879,932)
Administrative expenses	(138,317)	(121,097)	(45,466)	(37,167)	(183,783)	(158,264)
Other operating income/(expenses)	(13,932)	(7,817)	(6,653)	3,436	(20,585)	(4,381)
Normalized income from operations (normalized EBIT)	1,492,891	1,274,092 <

AMERICAN BEVERAGE CO AMBEV 6-K