UNITED BREWERIES CO INC | CIK:0000888746 | 3

  • Filed: 4/27/2018
  • Entity registrant name: UNITED BREWERIES CO INC (CIK: 0000888746)
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    • ifrs-full:DisclosureOfOperatingSegmentsExplanatory

    a)
    Information as per operating segments for the years ended December 31, 2017 and 2016:
     
     
     
     
    Chile
     
    International Business
     
    Wines
     
    Others
     
    Total
     
     
     
    2017
     
    2016
     
    2017
     
    2016
     
    2017
     
    2016
     
    2017
     
    2016
     
    2017
     
    2016
     
     
     
    ThCh$
     
    ThCh$
     
    ThCh$
     
    ThCh$
     
    ThCh$
     
    ThCh$
     
    ThCh$
     
    ThCh$
     
    ThCh$
     
    ThCh$
     
    Sales revenue external customers
     
     
    1,020,763,055
     
     
    973,220,715
     
     
    457,178,413
     
     
    366,778,056
     
     
    200,455,713
     
     
    195,322,270
     
     
    -
     
     
    -
     
     
    1,678,397,181
     
     
    1,535,321,041
     
    Other income
     
     
    14,667,777
     
     
    15,630,481
     
     
    2,740,533
     
     
    2,783,615
     
     
    3,105,064
     
     
    5,851,015
     
     
    (549,761)
     
     
    (688,444)
     
     
    19,963,613
     
     
    23,576,667
     
    Sales revenue between segments
     
     
    11,688,658
     
     
    8,524,493
     
     
    398,100
     
     
    546,972
     
     
    893,005
     
     
    228,767
     
     
    (12,979,763)
     
     
    (9,300,232)
     
     
    -
     
     
    -
     
    Net sales
     
     
    1,047,119,490
     
     
    997,375,689
     
     
    460,317,046
     
     
    370,108,643
     
     
    204,453,782
     
     
    201,402,052
     
     
    (13,529,524)
     
     
    (9,988,676)
     
     
    1,698,360,794
     
     
    1,558,897,708
     
    Change %
     
     
    5.0
     
     
    -
     
     
    24.4
     
     
    -
     
     
    1.5
     
     
    -
     
     
    -
     
     
    -
     
     
    8.9
     
     
    -
     
    Cost of sales
     
     
    (483,604,499)
     
     
    (471,151,686)
     
     
    (190,387,412)
     
     
    (157,485,547)
     
     
    (126,244,373)
     
     
    (112,938,261)
     
     
    1,497,629
     
     
    (244,422)
     
     
    (798,738,655)
     
     
    (741,819,916)
     
    % of Net sales
     
     
    46.2
     
     
    47.2
     
     
    41.4
     
     
    42.6
     
     
    61.7
     
     
    56.1
     
     
    -
     
     
    -
     
     
    47.0
     
     
    47.6
     
    Gross margin
     
     
    563,514,991
     
     
    526,224,003
     
     
    269,929,634
     
     
    212,623,096
     
     
    78,209,409
     
     
    88,463,791
     
     
    (12,031,895)
     
     
    (10,233,098)
     
     
    899,622,139
     
     
    817,077,792
     
    % of Net sales
     
     
    53.8
     
     
    52.8
     
     
    58.6
     
     
    57.4
     
     
    38.3
     
     
    43.9
     
     
    -
     
     
    -
     
     
    53.0
     
     
    52.4
     
    MSD&A (1)
     
     
    (383,169,121)
     
     
    (373,407,847)
     
     
    (225,341,789)
     
     
    (191,413,501)
     
     
    (53,941,735)
     
     
    (52,007,092)
     
     
    (6,330,835)
     
     
    (2,714,311)
     
     
    (668,783,480)
     
     
    (619,542,751)
     
    % of Net sales
     
     
    36.6
     
     
    37.4
     
     
    49.0
     
     
    51.7
     
     
    26.4
     
     
    25.8
     
     
    -
     
     
    -
     
     
    39.4
     
     
    39.7
     
    Other operating income (expenses)
     
     
    2,438,416
     
     
    1,734,871
     
     
    678,153
     
     
    (394,820)
     
     
    251,765
     
     
    732,689
     
     
    687,209
     
     
    1,043,939
     
     
    4,055,543
     
     
    3,116,679
     
    Adjusted operating result (2)
     
     
    182,784,286
     
     
    154,551,027
     
     
    45,265,998
     
     
    20,814,775
     
     
    24,519,439
     
     
    37,189,388
     
     
    (17,675,521)
     
     
    (11,903,470)
     
     
    234,894,202
     
     
    200,651,720
     
    Change %
     
     
    18.3
     
     
    -
     
     
    117.5
     
     
    -
     
     
    (34.1)
     
     
    -
     
     
    -
     
     
    -
     
     
    17.1
     
     
    -
     
    % of Net sales
     
     
    17.5
     
     
    15.5
     
     
    9.8
     
     
    5.6
     
     
    12.0
     
     
    18.5
     
     
    -
     
     
    -
     
     
    13.8
     
     
    12.9
     
    Net financial expense
     
     
    -
     
     
    -
     
     
    -
     
     
    -
     
     
    -
     
     
    -
     
     
    -
     
     
    -
     
     
    (19,115,361)
     
     
    (14,627,170)
     
    Equity and income of associates and joint ventures
     
     
    -
     
     
    -
     
     
    -
     
     
    -
     
     
    -
     
     
    -
     
     
    -
     
     
    -
     
     
    (8,914,097)
     
     
    (5,560,522)
     
    Foreign currency exchange differences
     
     
    -
     
     
    -
     
     
    -
     
     
    -
     
     
    -
     
     
    -
     
     
    -
     
     
    -
     
     
    (2,563,019)
     
     
    456,995
     
    Results as per adjustment units
     
     
    -
     
     
    -
     
     
    -
     
     
    -
     
     
    -
     
     
    -
     
     
    -
     
     
    -
     
     
    (110,539)
     
     
    (2,246,846)
     
    Other gains (losses)
     
     
    -
     
     
    -
     
     
    -
     
     
    -
     
     
    -
     
     
    -
     
     
    -
     
     
    -
     
     
    (7,716,791)
     
     
    (8,345,907)
     
    Income before taxes
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
    196,474,395
     
     
    170,328,270
     
    Tax income (expense)
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
    (48,365,976)
     
     
    (30,246,383)
     
    Net income for year
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
    148,108,419
     
     
    140,081,887
     
    Non-controlling interests
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
    18,501,066
     
     
    21,624,399
     
    Net income attributable to equity holders of the parent
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
    129,607,353
     
     
    118,457,488
     
    Depreciation and amortization
     
     
    64,807,818
     
     
    61,736,849
     
     
    15,568,301
     
     
    11,928,705
     
     
    7,505,440
     
     
    7,078,872
     
     
    4,317,945
     
     
    2,783,619
     
     
    92,199,504
     
     
    83,528,045
     
    ORBDA (3)
     
     
    247,592,104
     
     
    216,287,876
     
     
    60,834,299
     
     
    32,743,480
     
     
    32,024,879
     
     
    44,268,260
     
     
    (13,357,576)
     
     
    (9,119,851)
     
     
    327,093,706
     
     
    284,179,765
     
    Change %
     
     
    14.5
     
     
    -
     
     
    85.8
     
     
    -
     
     
    (27.7)
     
     
    -
     
     
    -
     
     
    -
     
     
    15.1
     
     
    -
     
    % of Net sales
     
     
    23.6
     
     
    21.7
     
     
    13.2
     
     
    8.8
     
     
    15.7
     
     
    22.0
     
     
    -
     
     
    -
     
     
    19.3
     
     
    18.2
     
     
    (1)
    MSD&A, included Marketing, Selling, Distribution and Administrative expenses. 
     
    (2)
    Adjusted operating result (for management purposes we have defined as Net income before other gains (losses), net financial expense, equity and income of joint venture, foreign currency exchange differences, result as per adjustment units and income taxes).  
     
    (3)
    ORBDA (for management purpose we have defined as Adjusted Operating Result before Depreciation and Amortization).
     
    b)
    Information as per operating segments for the years ended December 31, 2016 and 2015:
     
     
     
    Chile
     
    International Business
     
    Wines
     
    Others
     
    Total
     
     
     
    2016
     
    2015
     
    2016
     
    2015
     
    2016
     
    2015
     
    2016
     
    2015
     
    2016
     
    2015
     
     
     
    ThCh$
     
    ThCh$
     
    ThCh$
     
    ThCh$
     
    ThCh$
     
    ThCh$
     
    ThCh$
     
    ThCh$
     
    ThCh$
     
    ThCh$
     
    Sales revenue external customers
     
     
    973,220,715
     
     
    885,769,609
     
     
    366,778,056
     
     
    400,051,022
     
     
    195,322,270
     
     
    184,169,165
     
     
    -
     
     
    -
     
     
    1,535,321,041
     
     
    1,469,989,796
     
    Other income
     
     
    15,630,481
     
     
    16,757,566
     
     
    2,783,615
     
     
    4,708,728
     
     
    5,851,015
     
     
    5,214,674
     
     
    (688,444)
     
     
    1,700,951
     
     
    23,576,667
     
     
    28,381,919
     
    Sales revenue between segments
     
     
    8,524,493
     
     
    6,932,905
     
     
    546,972
     
     
    953,967
     
     
    228,767
     
     
    131,209
     
     
    (9,300,232)
     
     
    (8,018,081)
     
     
    -
     
     
    -
     
    Net sales
     
     
    997,375,689
     
     
    909,460,080
     
     
    370,108,643
     
     
    405,713,717
     
     
    201,402,052
     
     
    189,515,048
     
     
    (9,988,676)
     
     
    (6,317,130)
     
     
    1,558,897,708
     
     
    1,498,371,715
     
    Change %
     
     
    9.7
     
     
    -
     
     
    (8.8)
     
     
    -
     
     
    6.3
     
     
    -
     
     
    -
     
     
    -
     
     
    4.0
     
     
    -
     
    Cost of sales
     
     
    (471,151,686)
     
     
    (411,375,380)
     
     
    (157,485,547)
     
     
    (162,665,341)
     
     
    (112,938,261)
     
     
    (105,956,281)
     
     
    (244,422)
     
     
    (5,078,249)
     
     
    (741,819,916)
     
     
    (685,075,251)
     
    % of Net sales
     
     
    47.2
     
     
    45.2
     
     
    42.6
     
     
    40.1
     
     
    56.1
     
     
    55.9
     
     
    -
     
     
    -
     
     
    47.6
     
     
    45.7
     
    Gross margin
     
     
    526,224,003
     
     
    498,084,700
     
     
    212,623,096
     
     
    243,048,376
     
     
    88,463,791
     
     
    83,558,767
     
     
    (10,233,098)
     
     
    (11,395,379)
     
     
    817,077,792
     
     
    813,296,464
     
    % of Net sales
     
     
    52.8
     
     
    54.8
     
     
    57.4
     
     
    59.9
     
     
    43.9
     
     
    44.1
     
     
    -
     
     
    -
     
     
    52.4
     
     
    54.3
     
    MSD&A (1)
     
     
    (373,407,847)
     
     
    (343,380,553)
     
     
    (191,413,501)
     
     
    (216,098,525)
     
     
    (52,007,092)
     
     
    (51,070,291)
     
     
    (2,714,311)
     
     
    (2,015,407)
     
     
    (619,542,751)
     
     
    (612,564,776)
     
    % of Net sales
     
     
    37.4
     
     
    37.8
     
     
    51.7
     
     
    53.3
     
     
    25.8
     
     
    26.9
     
     
    -
     
     
    -
     
     
    39.7
     
     
    40.9
     
    Other operating income (expenses)
     
     
    1,734,871
     
     
    626,889
     
     
    (394,820)
     
     
    3,315,892
     
     
    732,689
     
     
    44,823
     
     
    1,043,939
     
     
    217,706
     
     
    3,116,679
     
     
    4,205,310
     
    Adjusted operating result (2)
     
     
    154,551,027
     
     
    155,331,036
     
     
    20,814,775
     
     
    30,265,743
     
     
    37,189,388
     
     
    32,533,299
     
     
    (11,903,470)
     
     
    (13,193,080)
     
     
    200,651,720
     
     
    204,936,998
     
    Change %
     
     
    (0.5)
     
     
    -
     
     
    (31.2)
     
     
    -
     
     
    14.3
     
     
    -
     
     
    -
     
     
    -
     
     
    (2.1)
     
     
    -
     
    % of Net sales
     
     
    15.5
     
     
    17.1
     
     
    5.6
     
     
    7.5
     
     
    18.5
     
     
    17.2
     
     
    -
     
     
    -
     
     
    12.9
     
     
    13.7
     
    Net financial expense
     
     
    -
     
     
    -
     
     
    -
     
     
    -
     
     
    -
     
     
    -
     
     
    -
     
     
    -
     
     
    (14,627,170)
     
     
    (15,255,586)
     
    Equity and income of associates and joint ventures
     
     
    -
     
     
    -
     
     
    -
     
     
    -
     
     
    -
     
     
    -
     
     
    -
     
     
    -
     
     
    (5,560,522)
     
     
    (5,228,135)
     
    Foreign currency exchange differences
     
     
    -
     
     
    -
     
     
    -
     
     
    -
     
     
    -
     
     
    -
     
     
    -
     
     
    -
     
     
    456,995
     
     
    957,565
     
    Results as per adjustment units
     
     
    -
     
     
    -
     
     
    -
     
     
    -
     
     
    -
     
     
    -
     
     
    -
     
     
    -
     
     
    (2,246,846)
     
     
    (3,282,736)
     
    Other gains (losses)
     
     
    -
     
     
    -
     
     
    -
     
     
    -
     
     
    -
     
     
    -
     
     
    -
     
     
    -
     
     
    (8,345,907)
     
     
    8,512,000
     
    Income before taxes
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
    170,328,270
     
     
    190,640,106
     
    Tax income (expense)
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
    (30,246,383)
     
     
    (50,114,516)
     
    Net income for year
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
    140,081,887
     
     
    140,525,590
     
    Non-controlling interests
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
    21,624,399
     
     
    19,717,455
     
    Net income attributable to equity holders of the parent
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
    118,457,488
     
     
    120,808,135
     
    Depreciation and amortization
     
     
    61,736,849
     
     
    56,698,871
     
     
    11,928,705
     
     
    14,334,415
     
     
    7,078,872
     
     
    7,568,991
     
     
    2,783,619
     
     
    2,964,525
     
     
    83,528,045
     
     
    81,566,802
     
    ORBDA (3)
     
     
    216,287,876
     
     
    212,029,907
     
     
    32,743,480
     
     
    44,600,158
     
     
    44,268,260
     
     
    40,102,290
     
     
    (9,119,851)
     
     
    (10,228,555)
     
     
    284,179,765
     
     
    286,503,800
     
    Change %
     
     
    2.0
     
     
    -
     
     
    (26.6)
     
     
    -
     
     
    10.4
     
     
    -
     
     
    -
     
     
    -
     
     
    (0.8)
     
     
    -
     
    % of Net sales
     
     
    21.7
     
     
    23.3
     
     
    8.8
     
     
    11.0
     
     
    22.0
     
     
    21.2
     
     
    -
     
     
    -
     
     
    18.2
     
     
    19.1
     
     
    (1)
    MSD&A, included Marketing, Selling, Distribution and Administrative expenses.
     
    (2)
    Adjusted operating result (for management purposes we have defined as Net income before other gains (losses), net financial expense, equity and income of joint venture, foreign currency exchange differences, result as per adjustment units and income taxes). 
     
    (3)
    ORBDA (for management purpose we have defined as Adjusted Operating Result before Depreciation and Amortization).