EX-5 9 exhibite.htm EXHIBIT 5- BALANCE SHEET

Exhibit 5

Compañía Cervecerías Unidas S.A.
Exhibit 5: Balance Sheet
		Ch$ millions				US$ millions (1)
		Jun 30-2003	Jun 30-2002			Jun 30-2003	Jun 30-2002			% Change
ASSETS
Cash & equivalents		48,591	73,476			69.5	105.1			-33.9%
Other current assets		215,032	114,964			307.6	164.4			87.0%
Total current assets		263,622	188,440			377.1	269.5			39.9%
PP&E, net		333,925	347,581			477.6	497.2			-3.9%
Other assets		67,817	89,655			97.0	128.2			-24.4%
TOTAL ASSETS		665,364	625,677			951.7	894.9			6.3%
LIABILITIES &
STOCKHOLDERS' EQUITY
Short-term debt (2)		57,586	33,479			82.4	47.9			72.0%
Other current liabilities		168,360	46,358			240.8	66.3			263.2%
Total current liabilities		225,945	79,837			323.2	114.2			183.0%
Long-term debt (2)		90,002	41,461			128.7	59.3			117.1%
Other long-term liabilities		30,045	33,094			43.0	47.3			-9.2%
Total long-term liabilities		120,047	74,554			171.7	106.6			61.0%
Minority interest		41,104	41,128			58.8	58.8			-0.1%
Stockholders' equity		278,268	430,157			398.0	615.3			-35.3%
TOTAL LIABILITIES &
STOCKHOLDERS' EQUITY		665,364	625,677			951.7	894.9			6.3%
OTHER FINANCIAL INFORMATION
Cash & equivalents plus
other liquid assets		145,870	89,727			208.6	128.3			62.6%
Total financial debt		147,587	74,940			211.1	107.2			96.9%
Net debt (3)		1,717	(14,787)			2.5	(21.2)			NM
Liquidity ratio		1.17	2.36
Debt / Capitalization		0.32	0.14
(1) Exchange rate: US$ 1.00 = Ch$ 699.12
(2) Includes only financial debt
(3) Total financial debt minus cash & equivalents plus other liquid assets