EX-4 5 ex4.htm EXHIBIT 4 SEGMENT SEP YTD

	Exhibit 4: Segment Information - NIne Month Ended September 30, 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		107,957	99,093		28,376	21,525		83,303	80,536		57,866	56,931		9,917	3,622
	Other products (*)		1,382	1,792		297	176		251	200		3,036	7,253		10,692	10,035
	Total		109,339	100,885		28,673	21,701		83,554	80,737		60,902	64,184		20,609	13,657
	% change		8.4%			32.1%			3.5%			-5.1%			50.9%
	Cost of sales		(41,744)	(42,980)		(15,916)	(14,597)		(39,575)	(39,860)		(40,329)	(42,238)		(16,187)	(10,087)
	% of sales		38.2%	42.6%		55.5%	67.3%		47.4%	49.4%		66.2%	65.8%		78.5%	73.9%
	SG&A		(41,466)	(37,247)		(14,086)	(12,114)		(37,435)	(37,256)		(16,560)	(16,889)		(3,967)	(3,500)
	% of sales		37.9%	36.9%		49.1%	55.8%		44.8%	46.1%		27.2%	26.3%		19.2%	25.6%
	Operating profit		26,129	20,657		(1,329)	(5,010)		6,543	3,621		4,012	5,058		415	47
	% change		26.5%			73.5%			80.7%			-20.7%			789.9%
	% of sales		23.9%	20.5%		-4.6%	-23.1%		7.8%	4.5%		6.6%	7.9%		2.0%	0.3%
	Depreciation		13,714	14,116		4,304	5,640		7,947	8,089		1,933	1,623		1,017	909
	Amortization		684	626		291	366		110	119		294	309		13	6
	EBITDA		40,527	35,399		3,267	995		14,600	11,829		6,240	6,990		1,444	962
	% change		14.5%			228.2%			23.4%			-10.7%			50.2%
	% of sales		37.1%	35.1%		11.4%	4.6%		17.5%	14.7%		10.2%	10.9%		7.0%	7.0%
	* The "Other products" line corresponds in 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)		2,540,687	2,503,072		1,406,216	1,246,461		3,060,060	2,934,488		708,688	711,635
	% change		1.5%			12.8%			4.3%			-0.4%
									Soft Drinks			Chile - Domestic
									2,240,481	2,198,719		372,489	378,120
									1.9%			-1.5%
									Nectars			Chile Bottled Exports
									276,951	238,756		315,568	298,847
									16.0%			5.6%
									Mineral Water
									542,629	497,012		Argentina
									9.2%			20,632	34,668
												-40.5%
	* Volumes include exports of 32.641 HL (25.176 HL to Chile) and 30.999 HL (21.821 HL to Chile) in 2004 and 2003 respectively.
	** In unit cases, sales from the soft drink and mineral water segment totaled 54 million and 52 million in 2004 and 2003, respectively.
	*** Volumes do not include bulk volumes of 85.692 HL and 205.465 HL (64.926 HL and 66.494 HL from Chile exports), (20.766 HL and 138.971 HL from Argentina ) in 2004 and 2003 respectively.
									Total			Total
	Price (Ch$ / HL)		42,491	39,589		20,179	17,269		27,223	27,445		81,653	80,001
	% change (real)		7.3%			16.9%			-0.8%			2.1%
									Soft Drinks			Chile - Domestic
									26,440	26,981		52,259	46,536
									-2.0%			12.3%
									Nectars			Chile - Export
									41,027	38,703		114,552	122,381
									6.0%			-6.4%
									Mineral Water
									21,720	22,386		Argentina
									-3.0%			109,125	79,674
												37.0%