EX-5 8 exhibite.htm BALANCE SHEET

exhibite

Compañía Cervecerías Unidas S.A.
Exhibit 5: Balance Sheet
		Ch$ millions				US$ millions (1)
		Sep 30-2003	Sep 30-2002			Sep 30-2003	Sep 30-2002			% Change
ASSETS
Cash & equivalents		37,292	64,522			56.4	97.6			-42.2%
Other current assets		161,066	147,113			243.7	222.6			9.5%
Total current assets		198,358	211,635			300.1	320.2			-6.3%
PP&E, net		326,825	347,185			494.5	525.3			-5.9%
Other assets		67,381	108,165			101.9	163.6			-37.7%
TOTAL ASSETS		592,563	666,985			896.5	1,009.1			-11.2%
LIABILITIES &
STOCKHOLDERS' EQUITY
Short-term debt (2)		54,563	50,054			82.6	75.7			9.0%
Other current liabilities		101,312	59,602			153.3	90.2			70.0%
Total current liabilities		155,876	109,657			235.8	165.9			42.1%
Long-term debt (2)		85,172	41,655			128.9	63.0			104.5%
Other long-term liabilities		32,595	32,481			49.3	49.1			0.4%
Total long-term liabilities		117,767	74,136			178.2	112.2			58.9%
Minority interest		40,393	43,110			61.1	65.2			-6.3%
Stockholders' equity		278,529	440,082			421.4	665.8			-36.7%
TOTAL LIABILITIES &
STOCKHOLDERS' EQUITY		592,563	666,985			896.5	1,009.1			-11.2%
OTHER FINANCIAL INFORMATION
Cash & equivalents plus
other liquid assets		71,797	97,553			108.6	147.6			-26.4%
Total financial debt		139,735	91,709			211.4	138.7			52.4%
Net debt (3)		67,938	(5,843)			102.8	(8.8)			NM
Liquidity ratio		1.27	1.93
Debt / Capitalization		0.31	0.16
(1) Exchange rate: US$ 1.00 = Ch$ 660.97
(2) Includes only financial debt
(3) Total financial debt minus cash & equivalents plus other liquid assets