EX-3 4 e3.htm EXHIBIT 3:SEGMENT INFORMATION (FOURTH QUARTER 2004)

	Exhibit 3: Segment Information - Fourth 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		52,628	51,306		11,020	10,421		36,232	36,883		19,675	19,107		4,876	1,432
	Other products		656	633		274	116		92	90		1,046	966		0	0
	Total		53,284	51,939		11,294	10,537		36,323	36,974		20,721	20,074		4,876	1,432
	% change		2.6%			7.2%			-1.8%			3.2%			240.5%
	Cost of sales		(18,805)	(17,737)		(5,416)	(4,921)		(16,895)	(16,278)		(14,576)	(14,450)		(2,973)	16
	% of sales		35.3%	34.1%		48.0%	46.7%		46.5%	44.0%		70.3%	72.0%		61.0%	-1.1%
	SG&A		(17,330)	(16,748)		(4,735)	(4,217)		(16,077)	(15,993)		(5,247)	(6,917)		(1,725)	(1,217)
	% of sales		32.5%	32.2%		41.9%	40.0%		44.3%	43.3%		25.3%	34.5%		35.4%	85.0%
	Operating profit		17,150	17,454		1,144	1,399		3,352	4,703		898	(1,293)		179	231
	% change		-1.7%			-18.3%			-28.7%			NM			-22.7%
	% of sales		32.2%	33.6%		10.1%	13.3%		9.2%	12.7%		4.3%	-6.4%		3.7%	16.1%
	Depreciation		4,383	4,154		912	998		2,658	2,998		571	667		354	327
	Amortization		148	128		61	74		123	109		137	115		11	7
	EBITDA		21,681	21,736		2,117	2,471		6,133	7,811		1,607	(511)		543	566
	% change		-0.3%			-14.3%			-21.5%			NM			-4.0%
	% of sales		40.7%	41.8%		18.7%	23.4%		16.9%	21.1%		7.8%	-2.5%		11.1%	39.5%
			Beer - Chile			Beer - Argentina*			Soft Drinks & Min Water			Wine***
			2004	2003		2004	2003		2004	2003		2004	2003
	VOLUMES & PRICING
									Total**			Total
	Volume (HLs)		1,266,798	1,215,316		694,971	657,063		1,364,063	1,351,919		242,584	246,276
	% change		4.2%			5.8%			0.9%			-1.5%
									Soft Drinks			Chile - Domestic
									987,720	986,422		130,801	126,927
									0.1%			3.1%
									Nectars			Chile Bottled Exports
									106,029	101,331		104,733	112,991
									4.6%			-7.3%
									Mineral Water
									270,315	264,165		Argentina
									2.3%			7,050	6,357
												10.9%
	* Volumes include exports of 19,370 HL (13,668 HL to Chile) and 19,608 HL (14,494 HL to Chile) in Q4'04 and Q4'03 respectively.
	** In unit cases, sales from the soft drinks and mineral water segment totaled 24.0 million and 23.8 million in Q4'04 and Q4'03 respectively.
	*** Volumes do not include bulk volumes of 27,004 HL (21,352 HL from Chile exports and 5,652 HL from Argentina) and 47,084 HL (30,074 HL from Chile exports and and 17,010 HL from Argentina) in Q4'04 and Q4'03 respectively.
										Total			Total
	Price (Ch$ / HL)		41,544	42,216		15,856	15,861		26,561	27,282		81,106	77,585
	% change (real)		-1.6%			0.0%			-2.6%			4.5%
									Soft Drinks			Chile - Domestic
									26,381	27,134		56,189	50,042
									-2.8%			12.3%
									Nectars			Chile Bottled Exports
									40,875	40,920		113,023	110,037
									-0.1%			2.7%
									Mineral Water
									21,600	22,595		Argentina
									-4.4%			69,265	50,705
												36.6%