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ambev AMBEV REPORTS 2021 SECOND QUARTER RESULTS¹ " Our commercial strategy , innovations , tech platforms and operational excellence delivered the highest consolidated volumes in a second quarter on record . When looking at rolling 12 months consolidated volumes , we are now at all - time high levels , 5 million hectoliters above our peak in 2015 " - Jean Jereissati , CEO Total Volume ( organic ) + 19.0 % vs LY Most of our markets delivered continued volume growth momentum : Brazil + 15.7 % , Central America and the Caribbean ( " CAC " ) + 62.7 % , Latin America South ( " LAS " ) + 26.8 % , and Canada -0.9 % . Normalized EBITDA ( organic ) + 24.0 % vs LY As anticipated , top - line is recovering ahead of bottom - line due to ongoing commercial momentum combined with persistent pressure on COGS , due to commodities and FX , and SG & A , affected by higher variable compensation accruals , distribution expenses , and sales and marketing investments . Cash flow from operating activities R $ 1,873.5 million Cash flow from operating activities was R $ 1,873.5 million compared to R $ 1,838.8 million in 2Q20 ( + 1.9 % ) . For HY21 it was R $ 4,677.3 million compared to R $ 3,382.8 million in HY20 ( + 38.3 % ) . Net Revenue ( organic ) + 36.2 % vs LY ambev.com.br Page | 1 Driven by volume performance and net revenue per hectoliter ( " NR / hl " ) growth of 14.5 % . Net revenue grew in Brazil by 28.5 % , in CAC by 71.6 % , in LAS² by 78.9 % , and in Canada by 3.3 % . Normalized Profit R $ 2,962.7 million Normalized profit was R $ 2,962.7 million compared to R $ 1,372.6 million in 2Q20 ( + 115.9 % ) . For HY21 it was R $ 5,724.7 million compared to R $ 2,600.4 million in HY20 ( + 120.1 % ) . ESG Update On June 28th we hosted our first ESG Update , in which we presented our ESG strategy , targets , progress and challenges . All materials are available on our website , including our Q & A session ( at ri.ambev.com.br ) . ¹ The following operating and financial information , unless otherwise indicated , is presented in nominal Reais and prepared according to the International Financial Reporting Standards ( " IFRS " ) issued by the International Accounting Standards Board ( " IASB " ) and to the accounting practices issued by the Brazilian Accounting Standards Committee ( " CPC " ) and approved by the Brazilian Securities and Exchange Commission ( " CVM " ) . The information herein should be read together with our financial information for the six - month period ended June 30 , 2021 , filed with the CVM and submitted to the U.S. Securities and Exchange Commission ( " SEC " ) . 2 The impacts resulting from applying Hyperinflation Accounting for our Argentinean subsidiaries , in accordance with IAS 29 , are detailed in the section Financial Reporting in Hyperinflationary Economies - Argentina ( page 14 ) . Press release - July 29 , 2021