News

CHILE: Compania Cervecerias Unidas sees beer volumes drive Q1

Most popular

Should Campari Group be renamed Aperol Group?

Why water has become more important than wine

just-drinks speaks to A-B InBev CEO Carlos Brito

just-drinks' M&A database - Oct 18

MORE
  • Q1 net profits increase by 39% to US$77.5m
  • Sales up by 13.4% to 505.3m
  • EBITDA leaps by 33% to 161.5m

Compania Cervecerias Unidas has posted a healthy set of figures for its first quarter.

//i2.aroq.com/1/78483125.jpg

The Chile-based company, which operates across most drinks categories, said earlier this week that net profits for the three months to the end of March came in 38.7% up on the corresponding period a year ago, at US$77.5m. Sales also improved, by 13.4% to 505.3m, with EBITDA leaping by almost a third, by 32.7% to $161.5m.

CCU noted that total volumes in the quarter had improved, increasing by 6.1% to 5m hectolitres, driven by beer sales in its home market and in neighbouring Argentina.

Profits were helped by a one-off insurance claim payment of CLP12.68bn (US$27.1m) for damage caused by last February's earthquake.

"We are facing a scenario with three variables which can affect negatively our margins," said CCU. "Firstly, a rise in raw material prices, secondly the higher cost of fuel and finally, energy cost increases. In order to compensate the adverse scenario we have in place a contingency plan consisting of (a) to generate costs and expenses savings throughout the organisation and (b) to anticipate price increases which were already planned for a later date in the year.

"Although there is uncertainty if the  contingency plan will compensate in full the adverse effects, we expect to bridge a significant part of the negative effects on the margins."

Separately, CCU confirmed today that Giorgio Maschietto has stepped down from its board of directors. Jorge Luis 

Ramos has been subsequently voted as a replacement for Ramos by the board.

To view CCU's official Q1 results statement, click here.


Related Content

Tequila volumes lift drives Jose Cuervo in Q3, but agave issues hit bottom line - results

Tequila volumes lift drives Jose Cuervo in Q3, but agave issues hit bottom line - results...

Campari Group Q1 2018 - results data

Campari Group Q1 2018 - results data...

Global, regional priority brands drive Gruppo Campari's H1 2017 - results

Global, regional priority brands drive Gruppo Campari's H1 2017 - results...

Performance surprises Anheuser-Busch InBev in Q1 2018 - results

Performance surprises Anheuser-Busch InBev in Q1 2018 - results...

Oops! This article is copy protected.

Why can’t I copy the text on this page?

The ability to copy articles is specially reserved for people who are part of a group membership.

How do I become a group member?

To find out how you and your team can copy and share articles and save money as part of a group membership call Sean Clinton on
+44 (0)1527 573 736 or complete this form..



Forgot your password?