EX-2 3 ex2.htm EXHIBIT 2 SEGMENTS

























































Exhibit 2: Segment Information - First Quarter 2008


























































Beer - Chile
Beer - Argentina
Soft Drinks & Min Water
Wine
Spirits
Others











2008 2007
2008 2007
2008 2007
2008 2007
2008 2007
2008 2007









OPERATING RESULTS



























(all figures in Ch$ millions)



























Revenues



























Core products
78.638 72.896
21.897 21.085
54.243 48.461
14.918 17.492
7.818 7.165
3.277 2.686









Other products
1.038 1.024
274 176
210 303
1.070 1.377
92 86
0 0









Total
79.676 73.920
22.171 21.261
54.453 48.764
15.989 18.870
7.910 7.252
3.277 2.686









% change
7,8%

4,3%

11,7%

-15,3%

9,1%

22,0%







































Cost of sales
(29.285) (25.592)
(10.792) (9.784)
(24.104) (22.470)
(10.691) (12.501)
(3.930) (4.100)
(1.978) (1.591)









% of sales
36,8% 34,6%
48,7% 46,0%
44,3% 46,1%
66,9% 66,2%
49,7% 56,5%
60,4% 59,3%






































SG&A
(22.791) (22.154)
(8.523) (8.454)
(21.075) (19.378)
(5.744) (5.962)
(3.211) (2.719)
(434) (383)









% of sales
28,6% 30,0%
38,4% 39,8%
38,7% 39,7%
35,9% 31,6%
40,6% 37,5%
13,3% 14,2%






































Operating profit
27.600 26.174
2.856 3.023
9.273 6.916
(446) 407
770 433
865 712









% change
5,4%

-5,5%

34,1%

NM

77,8%

21,5%










% of sales
34,6% 35,4%
12,9% 14,2%
17,0% 14,2%
-2,8% 2,2%
9,7% 6,0%
26,4% 26,5%






































Depreciation
5.584 4.938
1.285 1.593
2.648 2.512
1.179 1.385
494 393
509 400









Amortization
7 5
11 42
- -
100 101
11 7
- -









EBITDA
33.191 31.117
4.152 4.658
11.921 9.428
833 1.893
1.275 832
1.373 1.112









% change
6,7%

-10,9%

26,4%

-56,0%

53,1%

23,5%










% of sales
41,7% 42,1%
18,7% 21,9%
21,9% 19,3%
5,2% 10,0%
16,1% 11,5%
41,9% 41,4%


































































































Beer - Chile
Beer - Argentina*
Soft Drinks & Min Water
Wine***
Spirits














2008 2007
2008 2007
2008 2007
2008 2007
2008 2007












VOLUMES & PRICING



































Total**
Total















Volume (HLs)
1.567.791 1.451.484
869.267 763.649
1.721.822 1.512.331
181.434 191.802
43.106 39.526












% change
8,0%

13,8%

13,9%

-5,4%

9,1%


















































Soft Drinks
Chile - Domestic























1.145.973 984.550
101.994 96.714























16,4%

5,5%
























Nectars
Chile Bottled Exports























167.019 154.199
70.679 83.764























8,3%

-15,6%
























Mineral Water


























408.831 373.582
Argentina






















9,4%

8.761 11.324


























-22,6%






































































































* Volumes include exports of 70,030 HL (15,037 HL to Chile) and 47,966 HL (12,967 HL to Chile) in Q1'08 and Q1'07 respectively.


























** In unit cases, sales from the soft drink and mineral water segment totaled 30.3 million and 26.6 million in Q1'08 and Q1'07, respectively.



























*** Volumes do not include bulk volumes of 27,454 HL (19,960 HL from Chile exports and 7,495 HL from Argentina) and 26,250 HL (19,340 HL from Chile exports and 6,910 HL from Argentina) in Q1'08 and Q1'07 respectively.




































Total

Total















Price (Ch$ / HL)
50.158 50.222
25.191 27.611
31.503 32.044
82.224 91.200
181.366 181.282












% change (real)
-0,1%

-8,8%

-1,7%

-9,8%

0,0%


















































Soft Drinks
Chile - Domestic























30.971 31.533
56.120 58.224























-1,8%

-3,6%
























Nectars
Chile Bottled Exports























44.597 45.801
116.283 126.944























-2,6%

-8,4%























Mineral Water


























27.647 27.711
Argentina























-0,2%

111.356 108.445

























2,7%