EX-3 7 exhibitc.htm EXHIBIT 3- SEGMENT INFORMATION (SECOND QUARTER 2003)

Exhibit 3

	Compañía Cervecerías Unidas S.A.
	Exhibit 3: Segment Information - Second Quarter 2003
			Beer - Chile			Beer - Argentina			Soft Drinks & Min Water			Wine			Others
			2003	2002		2003	2002		2003	2002		2003	2002		2003	2002
	OPERATING RESULTS
	(all figures in Ch$ millions)
	Revenues
	Core products		24,859	22,814		5,557	3,771		22,496	22,188		21,617	20,112		1,323	48
	Other products (*)		561	481		192	93		465	114		92	151		2,573	2,676
	Total		25,420	23,295		5,749	3,864		22,961	22,302		21,709	20,263		3,896	2,724
	% change		9.1%			48.8%			3.0%			7.1%			43.0%
	Cost of sales		(12,370)	(11,933)		(4,313)	(3,898)		(11,993)	(11,333)		(13,867)	(12,215)		(2,948)	(2,110)
	% of sales		48.7%	51.2%		75.0%	100.9%		52.2%	50.8%		63.9%	60.3%		75.7%	77.4%
	SG&A		(10,956)	(9,843)		(3,888)	(3,758)		(11,488)	(11,572)		(5,970)	(4,611)		(959)	(224)
	% of sales		43.1%	42.3%		67.6%	97.3%		50.0%	51.9%		27.5%	22.8%		24.6%	8.2%
	Operating profit		2,094	1,519		(2,452)	(3,792)		(520)	(603)		1,872	3,437		(11)	390
	% change		37.8%			35.3%			13.8%			-45.5%			NM
	% of sales		8.2%	6.5%		-42.7%	-98.1%		-2.3%	-2.7%		8.6%	17.0%		-0.3%	14.3%
	Depreciation		4,597	4,770		1,873	2,644		2,799	2,856		610	536		337	341
	Amortization		205	118		120	134		36	42		143	62		2	1
	EBITDA		6,896	6,407		(459)	(1,014)		2,316	2,295		2,624	4,034		328	732
	% change		7.6%			-54.7%			0.9%			-34.9%			-55.2%
	% of sales		27.1%	27.5%		-8.0%	-26.2%		10.1%	10.3%		12.1%	19.9%		8.4%	26.9%
	* The "Other products" line corresponds to intercompany sales in the "Other" segment.
			Beer - Chile			Beer - Argentina*			Soft Drinks & Min Water			Wine
			2003	2002		2003	2002		2003	2002		2003	2002
	VOLUMES & PRICING
									Total**			Total
	Volume (HLs)		630,686	606,784		326,483	261,830		839,859	820,525		321,995	252,666
	% change		3.9%			24.7%			2.4%			27.4%
									Soft Drinks			Chile - Domestic
									639,314	629,464		127,797	124,717
									1.6%			2.5%
									Nectars			Chile - Export
									78,411	64,884		115,977	126,917
									20.8%			-8.6%
									Mineral Water
									122,133	126,177		Argentina - Domestic
									-3.2%			6,079	1,032
												489.0%
												Argentina - Export
												72,143
	* Volumes include exports of 7,007 (5,278 to Chile) and 2,465 (1,849 to Chile) hectoliters in Q2'03 and Q2'02 respectively.
	** In unit cases, sales from the soft drinks and mineral water segment totaled 14.8 million and 14.4 million in Q2'03 & Q2'02 respectively.
	Price (Ch$ / HL)		39,415	37,598		17,021	14,404		26,785	27,041		67,135	79,599
	% change (real)		4.8%			18.2%			-0.9%			-15.7%
									Soft Drinks			Chile - Domestic
									26,425	26,875		45,912	50,036
									-1.7%			-8.2%
									Nectars			Chile - Export
									37,263	38,205		112,071	108,776
									-2.5%			3.0%
									Mineral Water
									21,944	22,127		Argentina - Domestic
									-0.8%			58,363	64,174
												-9.1%
												Argentina - Export
												33,238