EX-3 6 exhibitc.htm SEGMENT INFORMATION - Q3

exhibitc

	Compañía Cervecerías Unidas S.A.
	Exhibit 3: Segment Information - Third 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		29,955	25,900		6,526	5,395		25,293	24,758		24,133	21,952		1,477	200
	Other products (*)		718	665		236	430		365	204		110	139		3,358	3,458
	Total		30,673	26,565		6,762	5,825		25,658	24,962		24,242	22,092		4,835	3,658
	% change		15.5%			16.1%			2.8%			9.7%			32.2%
	Cost of sales		(12,521)	(11,778)		(4,517)	(5,248)		(12,515)	(11,899)		(16,681)	(13,016)		(3,748)	(2,500)
	% of sales		40.8%	44.3%		66.8%	90.1%		48.8%	47.7%		68.8%	58.9%		77.5%	68.3%
	SG&A		(11,992)	(11,239)		(3,723)	(4,599)		(12,265)	(11,741)		(5,736)	(5,381)		(859)	(326)
	% of sales		39.1%	42.3%		55.1%	79.0%		47.8%	47.0%		23.7%	24.4%		17.8%	8.9%
	Operating profit		6,160	3,548		(1,478)	(4,022)		879	1,322		1,825	3,694		228	832
	% change		73.6%			63.3%			-33.5%			-50.6%			-72.6%
	% of sales		20.1%	13.4%		-21.9%	-69.0%		3.4%	5.3%		7.5%	16.7%		4.7%	22.8%
	Depreciation		4,161	4,456		1,527	2,969		2,852	2,666		381	481		348	305
	Amortization		235	103		106	160		36	37		93	64		(0)	1
	EBITDA		10,556	8,107		156	(893)		3,767	4,026		2,299	4,240		576	1,139
	% change		30.2%			NM			-6.4%			-45.8%			-49.4%
	% of sales		34.4%	30.5%		2.3%	-15.3%		14.7%	16.1%		9.5%	19.2%		11.9%	31.1%
	* 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)		738,274	675,817		387,319	324,428		951,287	911,273		339,545	277,759
	% change		9.2%			19.4%			4.4%			22.2%
									Soft Drinks			Chile - Domestic
									726,024	696,305		147,916	146,562
									4.3%			0.9%
									Nectars			Chile - Export
									89,461	77,007		138,208	128,851
									16.2%			7.3%
									Mineral Water
									135,803	137,961		Argentina - Domestic
									-1.6%			4,417	2,345
												88.3%
												Argentina - Export
												49,005
	* Volumes include exports of 9,158 (5,186 to Chile) and 9,742 (8,952 to Chile) hectoliters in Q3'03 and Q3'02 respectively.
	** In unit cases, sales from the soft drinks and mineral water segment totaled 16.8 million and 16.0 million in Q3'03 & Q3'02 respectively.
	Price (Ch$ / HL)		40,574	38,324		16,849	16,629		26,588	27,169		71,074	79,034
	% change (real)		5.9%			1.3%			-2.1%			-10.1%
									Soft Drinks			Chile - Domestic
									26,007	26,977		46,710	47,071
									-3.6%			-0.8%
									Nectars			Chile - Export
									38,214	37,557		106,896	115,658
									1.8%			-7.6%
									Mineral Water
									22,036	22,336		Argentina - Domestic
									-1.3%			79,158	64,361
												23.0%
												Argentina - Export
												43,241