EX-5 7 bal.htm EXHIBIT 5 BALANCE SHEET

Compañía Cervecerías Unidas S.A.
Exhibit 5: Balance Sheet
		Ch$ millions				US$ millions (1)
		Jun 30-2004	Jun 30-2003			Jun 30-2004	Jun 30-2003			% Change
ASSETS
Cash & equivalents		31,648	48,882			49.7	76.8			-35.3%
Other current assets		151,103	216,451			237.5	340.2			-30.2%
Total current assets		182,751	265,333			287.2	417.0			-31.1%
PP&E, net		311,274	335,929			489.2	527.9			-7.3%
Other assets		65,859	68,224			103.5	107.2			-3.5%
TOTAL ASSETS		559,883	669,485			879.9	1,052.2			-16.4%
LIABILITIES &
STOCKHOLDERS' EQUITY
Short-term debt (2)		36,154	57,921			56.8	91.0			-37.6%
Other current liabilities		56,512	169,509			88.8	266.4			-66.7%
Total current liabilities		92,666	227,430			145.6	357.4			-59.3%
Long-term debt (2)		111,019	90,542			174.5	142.3			22.6%
Other long-term liabilities		32,881	30,225			51.7	47.5			8.8%
Total long-term liabilities		143,900	120,767			226.2	189.8			19.2%
Minority interest		39,040	41,350			61.4	65.0			-5.6%
Stockholders' equity		284,277	279,938			446.8	439.9			1.5%
TOTAL LIABILITIES &
STOCKHOLDERS' EQUITY		559,883	669,485			879.9	1,052.2			-16.4%
OTHER FINANCIAL INFORMATION
Cash & equivalents plus
other liquid assets		63,706	146,745			100.1	230.6			-56.6%
Total financial debt		147,172	148,463			231.3	233.3			-0.9%
Net debt (3)		83,466	1,717			131.2	2.7			4760.9%
Liquidity ratio		1.97	1.17
Debt / Capitalization		0.31	0.32
(1) Exchange rate: US$1.00 = Ch$636.30
(2) Includes only financial debt
(3) Total financial debt minus cash & equivalents plus other liquid assets