EX-99.4 3 ex-99_4.txt EXHIBIT 99.4 United Breweries International (UK) Limited December 31, 2000 Consolidated Financial Statements Conversion Table United Breweries International, Ltd. (UBI) Consolidated Balance Sheet December 31, 2000
(GBP(pound)) Exchange (US$) UBI Rate UBI ---------------- ---------- ------------- Cash (pound)139,274 1.4955 $ 208,284 Accounts receivable 2,812,179 1.4955 4,205,614 Inventory 69,053 1.4955 103,269 Prepaids 24,932 1.4955 37,286 ---------------- ------------- Current assets 3,045,438 4,554,453 ---------------- ------------- Property, plant and equipment 578,356 1.4955 864,931 ---------------- ------------- Intangible assets, net of amortization 22,401 1.4955 33,501 ---------------- ------------- Total assets (pound)3,646,195 $ 5,452,885 ================ ============= Current liabilities Bank overdraft (pound)993,870 1.4955 $ 1,486,333 Accounts payable 1,427,112 1.4955 2,134,246 Income tax payable 135,464 1.4955 202,586 Accruals 445,427 1.4955 666,136 ---------------- ------------- Total liabilities 3,001,873 4,489,301 ---------------- ------------- Stockholder's Equity Common stock 100,000 1.4955 149,550 Currency translation - (5,464) Retained earnings 544,322 819,498 ---------------- ------------- 644,322 963,584 ---------------- ------------- Total stockholder's equity and liabilities (pound)3,646,195 $ 5,452,885 ================ =============
12 United Breweries International, Ltd. (UBI) Consolidated Statement of Income and Stockholder's Equity December 31, 2000
(GBP(pound)) Exchange (US$) UBI Rate UBI ---------------- ---------- ------------ Sales (pound)8,342,315 1.5156 $ 12,643,613 Cost of goods sold 5,423,592 1.5156 8,219,996 ---------------- ------------ Gross profit 2,918,723 4,423,617 Selling and distribution 1,851,646 1.5156 2,806,355 General and administrative 596,108 1.5156 903,461 ---------------- ------------ Net income from operations 470,969 713,801 Other income (expense) Provision for litigation (11,584) 1.5156 (17,557) Interest expense (54,116) 1.5156 (82,018) ---------------- ------------ Net income before taxes 405,269 614,226 Provision for income tax (133,426) 1.5156 (202,220) ---------------- ------------ Net income (pound)271,843 $ 412,005 Retained earnings, beginning of year 272,479 1.4955 407,492 ---------------- ------------ Retained earnings, end of year (pound)544,322 $ 819,498 ================ ============
13 United Breweries International, Ltd. (UBI) Consolidated Statement of Cash Flows December 31, 2000
(GBP(pound)) Exchange (US$) UBI Rate UBI -------------- ---------- ----------- Cash flows from operating activities Net income (pound)271,843 1.5156 $ 412,005 Adjustments to reconcile net income to net cash from operating activities Depreciation 238,587 1.5156 361,602 Gain on sale of assets (2,185) 1.5156 (3,312) Changes in: Accounts receivable (114,876) 1.5156 (174,106) Inventory (5,979) 1.5156 (9,062) Accounts payable and accruals 186,562 1.5156 282,753 -------------- ----------- Net cash from operating activities 573,952 869,882 -------------- ----------- Cash flows from investing activities Purchase of property, plant and equipment (221,700) 1.5156 (336,009) Cash received from sale of assets 3,250 1.5156 4,926 Cash received from sale of investments - 1.5156 - -------------- ----------- (218,450) (331,083) -------------- ----------- Cash flows from financing activities Increase in bank overdraft (250,073) 1.5156 (379,011) -------------- ----------- Translation adjustment - (2,119) -------------- ----------- Net increase in cash 105,429 157,669 Cash beginning of year 33,845 1.4955 50,615 -------------- ----------- Cash end of year (pound)139,274 $ 208,284 ============== ===========
14 United Breweries International, Ltd. (UBI) Consolidated Balance Sheet December 31, 1999
(GBP(pound)) Exchange (US$) UBI Rate UBI ---------------- ---------- ------------ Cash (pound)33,845 1.6150 $ 54,660 Accounts receivable 2,700,298 1.6150 4,360,981 Inventory 63,074 1.6150 101,865 Prepaids 21,937 1.6150 35,428 ---------------- ------------ Current assets 2,819,154 4,552,934 ---------------- ------------ Property, plant and equipment 593,108 1.6150 957,869 ---------------- ------------ Intangibles 25,601 1.6150 41,346 ---------------- ------------ Total assets (pound)3,437,863 $ 5,552,149 ================ ============ Current liabilities Bank overdraft (pound)1,243,943 1.6150 $ 2,008,968 Accounts payable 1,414,454 1.6150 2,284,343 Income tax payable 69,094 1.6150 111,587 Accruals 337,893 1.6150 545,697 ---------------- ------------ Total liabilities 3,065,384 4,950,595 ---------------- ------------ Stockholder's Equity Common stock 100,000 1.6150 161,500 Currency translation - (3,982) Retained earnings 272,479 444,036 ---------------- ------------ 372,479 601,554 ---------------- ------------ Total stockholder's equity and liabilities (pound)3,437,863 $ 5,552,149 ================ ============
15 United Breweries International, Ltd. (UBI) Consolidated Statement of Income and Stockholder's Equity December 31, 1999
(GBP(pound)) Exchange (US$) UBI Rate UBI ---------------- ---------- ------------- Sales (pound)7,350,109 1.6172 $ 11,886,596 Cost of goods sold 4,813,017 1.6172 7,783,611 ---------------- ------------- Gross profit 2,537,092 4,102,985 Selling and distribution 1,554,503 1.6172 2,513,942 General and administrative 652,055 1.6172 1,054,503 ---------------- ------------- Net income from operations 330,534 534,540 Other income (expense) Costs relating to litigation (125,303) 1.6172 (202,640) Disposal of fixed assets - 1.6172 - Other income - 1.6172 - Interest expense (74,837) 1.6172 (121,026) ---------------- ------------- Net income before taxes 130,394 210,873 Provision for income tax (63,072) 1.6172 (102,000) ---------------- ------------- Net income before discontinued 67,322 108,873 operations Minority interest in discontinued operations 3,023 1.6172 4,889 Discountinued operations Loss from operations of discontinued Soyco, Ltd, (149,967) 1.6172 (242,527) Gain on disposal of Soyco, Ltd 1,889,877 1.6172 3,056,309 ---------------- ------------- Net income (pound)1,810,255 $ 2,927,544 Retained earnings, beginning of year (1,537,776) 1.6150 (2,483,508) ---------------- ------------- Retained earnings, end of year (pound)272,479 $ 444,036 ================ =============
16 United Breweries International, Ltd. (UBI) Consolidated Statement of Cash Flows December 31, 1999
(GBP(pound)) Exchange (US$) UBI Rate UBI ---------------- ---------- ----------- Cash flows from operating activities Net income (pound)1,810,255 1.6172 $ 2,927,544 Adjustments to reconcile net income to net cash from operating activities Depreciation 238,515 1.6172 385,726 Gain on sale of assets (4,241) 1.6172 (6,859) Gain on sale of Soyco, Ltd. (1,739,310) 1.6172 (2,812,812) Changes in: Accounts receivable (253,078) 1.6172 (409,278) Inventory 48,346 1.6172 78,185 Accounts payable and accruals (244,886) 1.6172 (396,030) ---------------- ----------- Net cash from operating activities (144,399) (233,522) ---------------- ----------- Cash flows from investing activities Purchase of property, plant and equipment (238,809) 1.6172 (386,202) Cash received from sale of assets 22,065 1.6172 35,684 Cash received from sale of investments 50,000 1.6172 80,860 ---------------- ----------- (166,744) (269,658) ---------------- ----------- Cash flows from financing activities Increase in bank overdraft 190,607 1.6172 308,250 ---------------- ----------- Translation adjustment - 266 ---------------- ----------- Net decrease in cash (120,536) (194,665) Cash beginning of year 154,381 1.6150 249,325 ---------------- ----------- Cash end of year (pound)33,845 $ 54,660 ================ ===========
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