The Chilean brewer CCU said yesterday that its 2004 net income had fallen per American Depositary Receipt compared to last year.

The brewer announced in a statement that net income in 2004 decreased 18.1% to US$1.28 per American Depositary Receipt, when compared with the previous year.

However, CCU said that 2004 was still a positive year with record volume sales of 11.3m hectolitres. Revenues and operating income were also records.

EBITDA reached US$177m.
In a statement the company added that it refinanced its long-term debt. This had been achieved through a new US$100m syndicated loan and a bond issue of about $60m.