As Brazil’s presidential election nears,
political, and consequently economic, uncertainty is rising.
For Brazilian companies, that makes 2014 unlike others, says
João Castro Neves, chief executive of beer maker Ambev.
Best managed Brazilian corporate
A focus on its staff and an institutionalized hedging policy help Brazil’s best managed company avoid peaks and troughs in a volatile industry
"The distinctive characteristic of the election year will
probably be the federal government concern to keep the economy
strong and growing, with effective measures to control
inflation and increased consumer disposable income, actions
that have direct impact on our business," Neves tells
To address potential financial volatility — and not
just in the election run-up — the company hedges 12
months ahead. It is fully hedged for 2014 and is working on its
2015 exposures, so it does not expect movements in commodities
prices or the exchange rates to affect its cost of goods
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