EX-99 6 exhione.htm EXHIBIT 1:INCOME STATEMENT (SECOND QUARTER 2002)

Exhibit 1

Compañía Cervecerías Unidas S.A.
Exhibit 1: Income Statement (Third Quarter 2002)
			Ch$ millions				US$ millions (1)
			Q3'02	Q3'01			Q3'02	Q3'01			% Change
Net sales			77,399	83,971			103.4	112.2			-7.8%
Cost of goods sold			(39,932)	(43,368)			(53.3)	(57.9)			-7.9%
	% of sales		51.6%	51.6%			51.6%	51.6%
Gross profit			37,467	40,603			50.0	54.2			-7.7%
	% of sales		48.4%	48.4%			48.4%	48.4%
SG&A			(32,349)	(35,732)			(43.2)	(47.7)			-9.5%
	% of sales		41.8%	42.6%			41.8%	42.6%
Operating income			5,119	4,871			6.8	6.5			5.1%
	% of sales		6.6%	5.8%			6.6%	5.8%
Non-operating result
	Financial income		413	832			0.6	1.1			-50.4%
	Equity in NI of rel. companies		831	958			1.1	1.3			-13.3%
	Other non-operating income		251	389			0.3	0.5			-35.6%
	Amortization of goodwill		(701)	(660)			(0.9)	(0.9)			-6.2%
	Interest expense		(979)	(2,035)			(1.3)	(2.7)			51.9%
	Other non-operating expenses		(674)	(1,543)			(0.9)	(2.1)			56.3%
	Price level restatement		(384)	491			#	#			NM
	Total		(1,244)	(1,568)			(1.7)	(2.1)			-20.6%
Income before taxes			3,874	3,303			5.2	4.4			17.3%
	Income taxes		(931)	(3,738)			(1.2)	(5.0)			75.1%
	Tax rate		24.0%	113.2%			24.0%	113.2%
Minority interest			(454)	(785)			(0.6)	(1.0)			42.1%
Amort. of negative goodwill			15	14			0.02	0.02			2.9%
Net income			2,505	(1,205)			3.3	(1.6)			NM
	% of sales		3.2%	-1.4%			3.2%	-1.4%
Earnings per share			7.86	(3.78)			0.01	(0.01)			NM
Earnings per ADR			39.32	(18.92)			0.05	(0.03)
Weighted avg. shares (millions)			318.5	318.5			318.5	318.5
Depreciation			10,495	10,543			14.0	14.1			-0.5%
Amortization			354	349			0.5	0.5			1.4%
EBITDA			15,967	15,763			21.3	21.1			1.3%
Capital expenditures			4,275	6,844			5.7	9.1			-37.5%
(1) Exchange rate: US$ 1.00 = Ch$ 748,73