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Financial Information as per operating segments | 12 Months Ended
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Dec. 31, 2021
Operating segments [Abstract] |
Financial Information as per operating segments | Note 6 Financial Information as per operating segments The Company has defined three Operating segments, essentially defined with respect to its revenues in the geographic areas of commercial activity: 1. Chile, 2. International business and 3.Wine. These Operating segments mentioned are consistent with the way the Company is managed and how results are reported by CCU. These segments reflect separate operating results which are regularly reviewed by the chief operating decision maker in order to make decisions about the resources to be allocated to the segment and assess its performance.
Operating segment | Products and services
Chile | Beers, non-alcoholic beverages, spirits and SSU.
International Business | Beers, cider, non-alcoholic beverages and spirits in Argentina, Uruguay, Paraguay and Bolivia.
Wines | Wines, mainly in export markets to more 80 countries.
Corporate revenues and expenses are presented separately within the Other, in addition in the other presents the elimination of transactions between segments. The Company does not have any customers representing more than 10% of consolidated revenues. The detail of the segments is presented in the following tables: a) Information as per operating segments for the years ended December 31, 2021 and 202 0 :
| Chile | International Business | Wines | Others | Total
2021 | 2020 | 2021 | 2020 | 2021 | 2020 | 2021 | 2020 | 2021 | 2020
ThCh$ | ThCh$ | ThCh$ | ThCh$ | ThCh$ | ThCh$ | ThCh$ | ThCh$ | ThCh$ | ThCh$
Sales revenue external customers | 1,538,677,522 | 1,208,196,118 | 657,839,497 | 391,125,264 | 245,271,440 | 223,273,704 | - | - | 2,441,788,459 | 1,822,595,086
Other income | 21,328,227 | 18,300,114 | 15,022,421 | 11,403,939 | 5,138,052 | 4,240,620 | 1,435,121 | 1,053,919 | 42,923,821 | 34,998,592
Sales revenue between segments | 18,146,164 | 16,266,638 | 5,082,733 | 299,622 | 11,210,573 | 7,696,044 | (34,439,470) | (24,262,304) | - | -
Net sales | 1,578,151,913 | 1,242,762,870 | 677,944,651 | 402,828,825 | 261,620,065 | 235,210,368 | (33,004,349) | (23,208,385) | 2,484,712,280 | 1,857,593,678
Change % | 27.0 | - | 68.3 | - | 11.2 | - | - | - | 33.8 | -
Cost of sales | (810,802,559) | (626,099,060) | (341,082,046) | (229,669,229) | (159,494,416) | (139,512,564) | 19,819,224 | 11,244,931 | (1,291,559,797) | (984,035,922)
% of Net sales | 51.4 | 50.4 | 50.3 | 57.0 | 61.0 | 59.3 | - | - | 52.0 | 53.0
Gross margin | 767,349,354 | 616,663,810 | 336,862,605 | 173,159,596 | 102,125,649 | 95,697,804 | (13,185,125) | (11,963,454) | 1,193,152,483 | 873,557,756
% of Net sales | 48.6 | 49.6 | 49.7 | 43.0 | 39.0 | 40.7 | - | - | 48.0 | 47.0
MSD&A (1) | (506,891,948) | (443,636,760) | (288,303,183) | (189,421,217) | (69,052,335) | (64,790,758) | (17,929,915) | (6,941,510) | (882,177,381) | (704,790,245)
% of Net sales | 32.1 | 35.7 | 42.5 | 47.0 | 26.4 | 27.5 | - | - | 35.5 | 37.9
Other operating income (expenses) | 1,077,090 | 1,634,543 | 8,004,833 | 14,910,793 | 605,853 | 622,178 | 217,971 | 655,840 | 9,905,747 | 17,823,354
Adjusted operating result (2) | 261,534,496 | 174,661,593 | 56,564,255 | (1,350,828) | 33,679,167 | 31,529,224 | (30,897,069) | (18,249,124) | 320,880,849 | 186,590,865
Change % | 49.7 | - | (4,287.4) | - | 6.8 | - | - | - | 72.0 | -
% of Net sales | 16.6 | 14.1 | 8.3 | (0.3) | 12.9 | 13.4 | - | - | 12.9 | 10.0
Net financial expense | - | - | - | - | - | - | - | - | (21,396,824) | (25,262,920)
Equity and income of associates and joint ventures | - | - | - | - | - | - | - | - | 226,026 | (8,437,209)
Gains (losses) on exchange differences | - | - | - | - | - | - | - | - | (10,149,345) | 2,551,823
Results as per adjustment units | - | - | - | - | - | - | - | - | 2,529,298 | (429,198)
Other gains (losses) | - | - | - | - | - | - | - | - | 9,590,450 | (11,410,085)
Income before taxes |  |  |  |  |  |  |  |  | 301,680,454 | 143,603,276
Tax income (expense) |  |  |  |  |  |  |  |  | (82,629,773) | (35,408,420)
Net income for year |  |  |  |  |  |  |  |  | 219,050,681 | 108,194,856
Non-controlling interests |  |  |  |  |  |  |  |  | 19,887,950 | 12,042,584
Net income attributable to equity holders of the parent |  |  |  |  |  |  |  |  | 199,162,731 | 96,152,272
Depreciation and amortization | 73,082,403 | 70,106,357 | 34,289,517 | 25,551,989 | 12,011,674 | 11,575,351 | 4,733,145 | 2,580,279 | 124,116,739 | 109,813,976
ORBDA (3) | 334,616,899 | 244,767,950 | 90,853,772 | 24,201,161 | 45,690,841 | 43,104,575 | (26,163,924) | (15,668,845) | 444,997,588 | 296,404,841
Change % | 36.7 | - | 275.4 | - | 6.0 | - | - | - | 50.1 | -
% of Net sales | 21.2 | 19.7 | 13.4 | 6.0 | 17.5 | 18.3 | - | - | 17.9 | 16.0
| (1) | MSD&A included Marketing, Selling, Distribution and Administrative expenses.
| (2) | Adjusted operating result (for management purposes we have defined it as Net income before net financial expense, gain (losses) of joint venture and associates accounted for using the equity method, gains (losses) on exchange differences, result as per adjustment units and income taxes).
| (3) | ORBDA (for management purposes we have defined it as Adjusted Operating Result before Depreciation and Amortization).
| b) | Information as per operating segments for the years ended December 31, 2020 and 2019 :
| Chile | International Business | Wines | Others | Total
2020 | 2019 | 2020 | 2019 | 2020 | 2019 | 2020 | 2019 | 2020 | 2019
ThCh$ | ThCh$ | ThCh$ | ThCh$ | ThCh$ | ThCh$ | ThCh$ | ThCh$ | ThCh$ | ThCh$
Sales revenue external customers | 1,208,196,118 | 1,134,048,629 | 391,125,264 | 452,267,652 | 223,273,704 | 203,230,777 | - | - | 1,822,595,086 | 1,789,547,058
Other income | 18,300,114 | 16,438,937 | 11,403,939 | 11,724,538 | 4,240,620 | 3,806,545 | 1,053,919 | 1,023,619 | 34,998,592 | 32,993,639
Sales revenue between segments | 16,266,638 | 13,816,469 | 299,622 | 495,259 | 7,696,044 | 5,284,436 | (24,262,304) | (19,596,164) | - | -
Net sales | 1,242,762,870 | 1,164,304,035 | 402,828,825 | 464,487,449 | 235,210,368 | 212,321,758 | (23,208,385) | (18,572,545) | 1,857,593,678 | 1,822,540,697
Change % | 6.7 | - | (13.3) | - | 10.8 | - | - | - | 1.9 | -
Cost of sales | (626,099,060) | (540,048,331) | (229,669,229) | (248,880,925) | (139,512,564) | (128,763,785) | 11,244,931 | 9,374,851 | (984,035,922) | (908,318,190)
% of Net sales | 50.4 | 46.4 | 57.0 | 53.6 | 59.3 | 60.6 | - | - | 53.0 | 49.8
Gross margin | 616,663,810 | 624,255,704 | 173,159,596 | 215,606,524 | 95,697,804 | 83,557,973 | (11,963,454) | (9,197,694) | 873,557,756 | 914,222,507
% of Net sales | 49.6 | 53.6 | 43.0 | 46.4 | 40.7 | 39.4 | - | - | 47.0 | 50.2
MSD&A (1) | (443,636,760) | (429,093,171) | (189,421,217) | (210,155,693) | (64,790,758) | (55,595,811) | (6,941,510) | (9,726,563) | (704,790,245) | (704,571,238)
% of Net sales | 35.7 | 36.9 | 47.0 | 45.2 | 27.5 | 26.2 | - | - | 37.9 | 38.7
Other operating income (expenses) | 1,634,543 | 5,266,475 | 14,910,793 | 14,201,709 | 622,178 | 515,019 | 655,840 | 1,173,780 | 17,823,354 | 21,156,983
Adjusted operating result (2) | 174,661,593 | 200,429,008 | (1,350,828) | 19,652,540 | 31,529,224 | 28,477,181 | (18,249,124) | (17,750,477) | 186,590,865 | 230,808,252
Change % | (12.9) | - | (106.9) | - | 10.7 | - | - | - | (19.2) | -
% of Net sales | 14.1 | 17.2 | (.3) | 4.2 | 13.4 | 13.4 | - | - | 10.0 | 12.7
Net financial expense | - | - | - | - | - | - | - | - | (25,262,920) | (14,602,562)
Equity and income of associates and joint ventures | - | - | - | - | - | - | - | - | (8,437,209) | (16,431,759)
Foreign currency exchange differences | - | - | - | - | - | - | - | - | 2,551,823 | (9,054,155)
Results as per adjustment units | - | - | - | - | - | - | - | - | (429,198) | (8,255,001)
Other gains (losses) | - | - | - | - | - | - | - | - | (11,410,085) | 3,156,799
Income before taxes |  |  |  |  |  |  |  |  | 143,603,276 | 185,621,574
Tax income (expense) |  |  |  |  |  |  |  |  | (35,408,420) | (39,975,914)
Net income for year |  |  |  |  |  |  |  |  | 108,194,856 | 145,645,660
Non-controlling interests |  |  |  |  |  |  |  |  | 12,042,584 | 15,503,968
Net income attributable to equity holders of the parent |  |  |  |  |  |  |  |  | 96,152,272 | 130,141,692
Depreciation and amortization | 70,106,357 | 66,301,914 | 25,551,989 | 27,077,745 | 11,575,351 | 9,826,148 | 2,580,279 | 1,815,127 | 109,813,976 | 105,020,934
ORBDA (3) | 244,767,950 | 266,730,922 | 24,201,161 | 46,730,285 | 43,104,575 | 38,303,329 | (15,668,845) | (15,935,350) | 296,404,841 | 335,829,186
Change % | (8.2) | - | (48.2) | - | 12.5 | - | - | - | (11.7) | -
% of Net sales | 19.7 | 22.9 | 6.0 | 10.1 | 18.3 | 18.0 | - | - | 16.0 | 18.4
| (1) | MSD&A included Marketing, Selling, Distribution and Administrative expenses.
| (2) | Adjusted operating result (for management purposes we have defined it as Net income before net financial expense, gain (losses) of joint venture and associates accounted for using the equity method, gains (losses) on exchange differences, result as per adjustment units and income taxes).
| (3) | ORBDA (for management purposes we have defined it as Adjusted Operating Result before Depreciation and Amortization).
| F-49 |
Sales information by geographic locatio n
Net sales per geographical location | For the years ended as of December 31,
2021 | 2020 | 2019
ThCh$ | ThCh$ | ThCh$
Chile (1) | 1,781,697,146 | 1,436,790,253 | 1,342,369,499
Argentina (2) | 612,603,034 | 338,214,943 | 390,443,569
Uruguay | 21,643,168 | 19,483,698 | 17,805,957
Paraguay | 48,286,593 | 39,244,642 | 47,148,643
Bolivia | 20,482,339 | 23,860,142 | 24,773,029
Foreign countries | 703,015,134 | 420,803,425 | 480,171,198
Total | 2,484,712,280 | 1,857,593,678 | 1,822,540,697
| (1) | Includes net sales correspond to Corporate Support Unit and eliminations between geographical locations. Additionally, includes net sales made in Chile of the Wines Operating segment.
| (2) | Includes net sales made by the subsidiaries Finca La Celia S.A. and Los Huemules SRL., registered under the Wines Operating segment and Chile Operating segment, respectively.
Sales information by customer
| For the years ended as of December 31,
Net Sales | 2021 | 2020 | 2019
| ThCh$ | ThCh$ | ThCh$
Domestic sales | 2,354,364,404 | 1,729,519,439 | 1,702,109,548
Exports sales | 130,347,876 | 128,074,239 | 120,431,149
Total | 2,484,712,280 | 1,857,593,678 | 1,822,540,697
Sales information by product category
Sales information by product category | For the years ended as of December 31,
2021 | 2020 | 2019
ThCh$ | ThCh$ | ThCh$
Alcoholic business | 1,713,348,191 | 1,249,738,114 | 1,206,288,857
Non-alcoholic business | 728,440,268 | 572,856,972 | 583,258,201
Others (1) | 42,923,821 | 34,998,592 | 32,993,639
Total | 2,484,712,280 | 1,857,593,678 | 1,822,540,697
| (1) | Others consist mainly of sales of by-products and packaging including bottles, pallets, and glasses.
Depreciation and amortization as per operating segments
Depreciation and amortization | For the years ended as of December 31,
2021 | 2020 | 2019
ThCh$ | ThCh$ | ThCh$
Chile operating segment | 73,082,403 | 70,106,357 | 66,301,914
International Business operating segment | 34,289,517 | 25,551,989 | 27,077,745
Wines operating segment | 12,011,674 | 11,575,351 | 9,826,148
Others (1) | 4,733,145 | 2,580,279 | 1,815,127
Total | 124,116,739 | 109,813,976 | 105,020,934
| (1) | I ncludes depreciation and amortization corresponding to the Corporate Support Units.
Cash flows Operating Segments
Cash flows Operating Segments | For the years ended as of December 31,
2021 | 2020 | 2019
ThCh$ | ThCh$ | ThCh$
Cash flows from (used in ) Operating activities |  | 293,355,573 | 280,669,513 | 242,320,045
Chile operating segment |  | 121,754,766 | 151,303,443 | 139,560,085
International business operating segment |  | 101,401,629 | 46,144,420 | 3,885,657
Wines operating segment |  | 19,545,855 | 30,806,504 | 37,196,293
Others (1) (*) |  | 50,653,323 | 52,415,146 | 61,678,010
Cash flows from (used in ) Investing Activities |  | (178,992,533) | (140,545,147) | (144,185,726)
Chile operating segment |  | (40,365,451) | (127,007,063) | (125,009,624)
International business operating segment |  | (63,129,231) | (31,326,275) | (38,558,437)
Wines operating segment |  | (8,920,470) | (13,617,314) | (28,895,781)
Others (1) (*) |  | (66,577,381) | 31,405,505 | 48,278,116
Cash flows from (used in ) Financing Activities |  | (233,643,855) | 64,749,555 | (199,420,161)
Chile operating segment |  | (107,692,241) | (32,340,146) | (14,458,606)
International business operating segment |  | (9,003,717) | 8,883,672 | 25,039,794
Wines operating segment |  | (40,134,129) | 23,435,811 | 439,231
Others (1) (*) |  | (76,813,768) | 64,770,218 | (210,440,580)
| (1) | Others include Corporate Support Units, due to cash flows are managed by CCU.
(*) It includes contribution to joint ventures. See Note 8 - Cash and cash equivalents . Capital expenditures as per operating segments
Capital expenditures (property, plant and equipment and software additions) | For the years ended as of December 31,
2021 | 2020 | 2019
ThCh$ | ThCh$ | ThCh$
Chile operating segment |  | 94,336,053 | 74,932,872 | 69,394,303
International Business operating segment |  | 63,288,453 | 31,573,930 | 38,524,717
Wines operating segment |  | 8,977,284 | 13,214,298 | 22,020,111
Others (1) |  | 5,252,192 | 3,065,629 | 10,548,718
Total |  | 171,853,982 | 122,786,729 | 140,487,849
| (1) | Others include the capital investments corresponding to the Corporate Support Units.
Assets as per operating segment s
Assets as per Operating segment | As of December 31, 2021 | As of December 31, 2020
ThCh$ | ThCh$
Chile operating segment | 1,586,202,143 | 1,473,645,561
International Business operating segment | 637,642,711 | 428,447,375
Wines operating segment | 442,524,176 | 425,591,825
Others (1) | 180,381,607 | 197,651,771
Total | 2,846,750,637 | 2,525,336,532
| (1) | I ncludes assets corresponding to the Corporate Support Units.
Assets per geographic location
Assets per geographical location | As of December 31, 2021 | As of December 31, 2020
ThCh$ | ThCh$
Chile (1) | 2,162,818,404 | 2,065,140,158
Argentina (2) | 557,983,133 | 353,431,002
Uruguay | 27,854,154 | 23,678,290
Paraguay | 60,700,994 | 48,742,190
Bolivia | 37,393,952 | 34,344,892
Total | 2,846,750,637 | 2,525,336,532
| (1) | Includes the assets corresponding to the Corporate Support Units and eliminations between geographic location and investments in associates and joint ventures. Additionally, includes part of Wines Operating segment and excludes its argentine subsidiary Finca La Celia S.A.
| (2) | Includes the assets of the subsidiaries Finca La Celia S.A. and Los Huemules S.R.L., registered under the Wines Operating segment and Chile Operating segment, respectively.
Liabilities as per operating segments
Liabilities as per Operating segment | As of December 31, 2021 | As of December 31, 2020
ThCh$ | ThCh$
Chile operating segment | 737,711,189 | 599,712,023
International Business operating segment | 269,896,961 | 174,963,952
Wines operating segment | 172,223,909 | 175,772,540
Others (1) | 241,403,275 | 166,069,342
Total | 1,421,235,334 | 1,116,517,857
| (1) | O thers include liabilities corresponding to the Corporate Support Units.
Operating Segment’s additional information The Consolidated Statement of Income classified according to the Company’s operations management is as follows:
CONSOLIDATED STATEMENT OF INCOME | Notes | For the years ended December 31,
2021 | 2020 | 2019
ThCh$ | ThCh$ | ThCh$
Sales revenue external customers |  | 2,441,788,459 | 1,822,595,086 | 1,789,547,058
Other income |  | 42,923,821 | 34,998,592 | 32,993,639
Net sales |  | 2,484,712,280 | 1,857,593,678 | 1,822,540,697
Change % |  | 33.8 | 1.9 | -
Cost of sales |  | (1,291,559,797) | (984,035,922) | (908,318,190)
% of Net sales |  | 52.0 | 53.0 | 49.8
Gross margin |  | 1,193,152,483 | 873,557,756 | 914,222,507
% of Net sales |  | 48.0 | 47.0 | 50.2
MSD&A (1) |  | (882,177,381) | (704,790,245) | (704,571,238)
% of Net sales |  | 35.5 | 37.9 | 38.7
Other operating income (expenses) |  | 9,905,747 | 17,823,354 | 21,156,983
Adjusted operating result (2) |  | 320,880,849 | 186,590,865 | 230,808,252
Change % |  | 72.0 | (19.2) | -
% of Net sales |  | 12.9 | 10.0 | 12.7
Net financial expense | 33 | (21,396,824) | (25,262,920) | (14,602,562)
Equity and income of associates and joint ventures | 16 | 226,026 | (8,437,209) | (16,431,759)
Gains (losses) on exchange differences | 33 | (10,149,345) | 2,551,823 | (9,054,155)
Results as per adjustment units | 33 | 2,529,298 | (429,198) | (8,255,001)
Other gains (losses) | 32 | 9,590,450 | (11,410,085) | 3,156,799
Income before taxes |  | 301,680,454 | 143,603,276 | 185,621,574
Tax income (expense) | 25 | (82,629,773) | (35,408,420) | (39,975,914)
Net income |  | 219,050,681 | 108,194,856 | 145,645,660
Non-controlling interests | 29 | 19,887,950 | 12,042,584 | 15,503,968
Net income attributable to equity holders of the parent |  | 199,162,731 | 96,152,272 | 130,141,692
Depreciation and amortization | 30 | 124,116,739 | 109,813,976 | 105,020,934
ORBDA (3) |  | 444,997,588 | 296,404,841 | 335,829,186
Change % |  | 50.1 | (11.7) | -
% of Net sales |  | 17.9 | 16.0 | 18.4
See definition of (1), (2) and (3), in information as per Operating segment under this Note. The following is a reconciliation of our Net income, the main comparable IFRS measure to Adjusted Operating Result for the years ended December 31, 2021, 2020 and 2019 :
| For the years ended December 31,
2021 | 2020 | 2019
ThCh$ | ThCh$ | ThCh$
Net income | 219,050,681 | 108,194,856 | 145,645,660
Add (Subtract): |  |  |
Other gains (losses) | (9,590,450) | 11,410,085 | (3,156,799)
Finance income | (14,263,669) | (3,451,143) | (13,117,641)
Finance costs | 35,660,493 | 28,714,063 | 27,720,203
Share of net income (loss) of joint ventures and associates accounted for using the equity method | (226,026) | 8,437,209 | 16,431,759
Gains (losses) on exchange differences | 10,149,345 | (2,551,823) | 9,054,155
Result as per adjustment units | (2,529,298) | 429,198 | 8,255,001
Income tax expense | 82,629,773 | 35,408,420 | 39,975,914
Adjusted operating result | 320,880,849 | 186,590,865 | 230,808,252
Depreciation and amortization | 124,116,739 | 109,813,976 | 105,020,934
ORBDA | 444,997,588 | 296,404,841 | 335,829,186
The following is a reconciliation of the consolidated amounts presented for MSD&A with the comparable amounts presented on the face of our consolidated statement o f income:
| For the years ended December 31.
2021 | 2020 | 2019
ThCh$ | ThCh$ | ThCh$
Consolidated statement of income |  |  |
Distribution costs | (438,601,936) | (337,101,549) | (327,543,973)
Administrative expenses | (161,390,779) | (138,811,668) | (136,975,243)
Other expenses by function | (284,087,358) | (230,349,566) | (241,479,749)
Other expenses included in ´Other expenses by function´ | 1,902,692 | 1,472,538 | 1,427,727
Total MSD&A | (882,177,381) | (704,790,245) | (704,571,238)
Segment information by joint ventures and associates The Administration of the Company review the financial situation and result of the all of their joint ventures and associated that is described in Note 16 - Investments accounted for using equity method .

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