EX-3 4 s1.htm EXHIBIT 3: SEGMENT INFORMATION (THIRD QUARTER 2005)

Exhibit 3: Segment Information - Third Quarter 2005
		Beer - Chile			Beer - Argentina			Soft Drinks & Min Water			Wine			Pisco			Others
		2005	2004		2005	2004		2005	2004		2005	2004		2005	2004		2005	2004
OPERATING RESULTS
(all figures in Ch$ millions)
Revenues
Core products		36,679	32,977		7,765	7,917		29,663	27,276		23,644	23,618		8,836	2,348		2,043	1,788
Other products		594	507		15	86		108	86		1,597	860		117	2		0	0
Total		37,272	33,484		7,780	8,002		29,770	27,362		25,241	24,478		8,953	2,350		2,043	1,788
% change		11.3%			-2.8%			8.8%			3.1%			281.0%			14.3%
Cost of sales		(14,416)	(13,813)		(4,151)	(4,719)		(13,632)	(13,432)		(17,947)	(16,228)		(6,427)	(1,741)		(1,271)	(799)
% of sales		38.7%	41.3%		53.4%	59.0%		45.8%	49.1%		71.1%	66.3%		71.8%	74.1%		62.2%	44.7%
SG&A		(16,417)	(14,297)		(3,804)	(4,271)		(13,882)	(12,911)		(6,398)	(5,832)		(2,855)	(927)		(65)	(221)
% of sales		44.0%	42.7%		48.9%	53.4%		46.6%	47.2%		25.3%	23.8%		31.9%	39.5%		3.2%	12.4%
Operating profit		6,440	5,374		(176)	(987)		2,256	1,019		896	2,418		(328)	(318)		707	768
% change		19.8%			82.2%			121.4%			-63.0%			-3.2%			-8.0%
% of sales		17.3%	16.1%		-2.3%	-12.3%		7.6%	3.7%		3.5%	9.9%		-3.7%	-13.5%		34.6%	43.0%
Depreciation		4,776	4,636		999	1,339		2,572	2,997		1,382	1,136		237	60		265	255
Amortization		1	1		31	42		1	1		90	51		0	0		0	0
EBITDA		11,216	10,011		854	394		4,829	4,017		2,368	3,605		(91)	(259)		972	1,024
% change		12.0%			116.9%			20.2%			-34.3%			64.6%			-5.1%
% of sales		30.1%	29.9%		11.0%	4.9%		16.2%	14.7%		9.4%	14.7%		-1.0%	-11.0%		47.6%	57.3%
		Beer - Chile			Beer - Argentina*			Soft Drinks & Min Water			Wine***			Pisco
		2005	2004		2005	2004		2005	2004		2005	2004		2005	2004
VOLUMES & PRICING
								Total**			Total			Total
Volume (HLs)		799,224	762,222		459,682	434,793		1,019,612	989,872		284,170	273,098		65,755	19,558
% change		4.9%			5.7%			3.0%			4.1%			236.2%
								Soft Drinks			Chile - Domestic
								692,501	732,321		160,449	134,862
								-5.4%			19.0%
								Nectars			Chile - Bottled Exports
								117,285	100,957		112,256	129,683
								16.2%			-13.4%
								Mineral Water
								209,826	156,594		Argentina
								34.0%			11,465	8,553
											34.0%
* Volumes include exports of 11.475 HL (7.588 HL to Chile) and 11.384 HL (8.412 HL to Chile) in Q3'05 and Q3'04, respectively.
** In unit cases, sales from the soft drinks and mineral water segment totaled 18.0 million and 17.4 million in Q3'05 and Q3'04, respectively.
*** Volumes do not include bulk volumes of 33.244 HL (30.871 HL from Chile exports and 2.374 HL from Argentina) and 21.269 HL (16.799 HL from Chile exports and 4.470 HL from Argentina) in Q3'05 and Q3'04, respectively.
									Total			Total
Price (Ch$ / HL)		45,893	43,264		16,892	18,208		29,092	27,555		83,204	86,483		134,377	120,040
% change (real)		6.1%			-7.2%			5.6%			-3.8%			11.9%
								Soft Drinks			Chile - Domestic
								28,055	26,921		60,397	56,939
								4.2%			6.1%
								Nectars			Chile - Bottled Exports
								41,067	41,019		115,864	116,192
								0.1%			-0.3%
								Mineral Water
								25,819	21,841		Argentina
								18.2%			82,592	101,888
											-18.9%