EX-3 5 seg1.htm EXHIBIT 3 SEGMENT INFORMATION Q2'04

	Compañía Cervecerías Unidas S.A.
	Exhibit 3: Segment Information - Second Quarter 2004
			Beer - Chile			Beer - Argentina			Soft Drinks & Min Water			Wine			Others
			2004	2003		2004	2003		2004	2003		2004	2003		2004	2003
	OPERATING RESULTS
	(all figures in Ch$ millions)
	Revenues
	Core products		27,296	25,067		7,905	5,753		23,944	23,062		21,014	21,747		3,242	1,327
	Other products (*)		436	488		71	30		82	59		84	92		2,984	2,537
	Total		27,732	25,555		7,976	5,783		24,026	23,121		21,097	21,839		6,226	3,864
	% change		8.5%			37.9%			3.9%			-3.4%			61.1%
	Cost of sales		(11,695)	(12,460)		(4,891)	(4,339)		(12,229)	(12,082)		(13,529)	(13,989)		(4,900)	(2,880)
	% of sales		42.2%	48.8%		61.3%	75.0%		50.9%	52.3%		64.1%	64.1%		78.7%	74.5%
	SG&A		(12,514)	(11,281)		(4,527)	(3,916)		(11,655)	(11,193)		(5,871)	(5,833)		(1,301)	(1,136)
	% of sales		45.1%	44.1%		56.8%	67.7%		48.5%	48.4%		27.8%	26.7%		20.9%	29.4%
	Operating profit		3,523	1,814		(1,442)	(2,471)		142	(154)		1,697	2,017		25	(153)
	% change		94.3%			41.6%			NM			-15.9%			NM
	% of sales		12.7%	7.1%		-18.1%	-42.7%		0.6%	-0.7%		8.0%	9.2%		0.4%	-3.9%
	Depreciation		4,500	4,674		1,461	1,814		2,630	2,651		675	526		356	299
	Amortization		243	205		103	121		35	36		97	144		3	2
	EBITDA		8,266	6,693		122	(536)		2,808	2,533		2,470	2,687		385	149
	% change		23.5%			NM			10.9%			-8.1%			157.6%
	% of sales		29.8%	26.2%		1.5%	-9.3%		11.7%	11.0%		11.7%	12.3%		6.2%	3.9%
	* The "Other products" line corresponds to intercompany sales in the "Other" segment.
			Beer - Chile			Beer - Argentina*			Soft Drinks & Min Water			Wine
			2004	2003		2004	2003		2004	2003		2004	2003
	VOLUMES & PRICING
									Total**			Total
	Volume (HLs)		646,740	632,388		353,465	326,474		867,851	840,354		278,281	312,083
	% change		2.3%			8.3%			3.3%			-10.8%
									Soft Drinks			Chile - Domestic
									639,042	639,750		134,890	127,904
									-0.1%			5.5%
									Nectars			Chile Bottled Exports
									92,974	78,421		105,825	105,787
									18.6%			0.0%
									Mineral Water			Chile Bulk Exports
									135,835	122,182		25,697	10,090
									11.2%			154.7%
												Argentina
												11,869	68,302
												-82.6%
	* Volumes include exports of 8,250 HL (6,702 HL to Chile) and 7,007 HL (5,277 HL to Chile) hectoliters in Q2'04 and Q2'03 respectively.
	** In unit cases, sales from the soft drinks and mineral water segment totaled 15.3 million and 14.8 million in Q2'04 and Q2'03 respectively.
										Total			Total
	Price (Ch$ / HL)		42,205	39,638		22,365	17,623		27,590	27,443		75,512	69,683
	% change (real)		6.5%			26.9%			0.5%			8.4%
									Soft Drinks			Chile - Domestic
									26,662	26,629		50,674	46,148
									0.1%			9.8%
									Nectars			Chile Bottled Exports
									40,365	37,544		115,466	119,701
									7.5%			-3.5%
									Mineral Water			Chile Bulk Exports
									21,419	22,124		35,632	40,836
									-3.2%			-12.7%
												Argentina
												87,905	40,546
												116.8%