CCU FY 2021 Earnings Report — Compañía Cervecerías Unidas S.A. Revenue & Financial Results | Market Cap Arena

Compañía Cervecerías Unidas S.A.CCU

FY 2021 Earnings

Reported April 27, 2022

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2021	Prior Q	FY 2020	QoQ Change	YoY Change
Revenue	$2.8B	—	$2.1B	—	33.8%
Op. Income	$372M	—	$197M	—	88.6%
Gross Margin	48.0%	—	47.0%	—	1.0pp
Net Margin	8.0%	—	5.2%	—	2.8pp
EPS (Diluted)	$1.21	—	$0.59	—	107.1%
Free Cash Flow	$137M	—	$178M	—	-23.0%

Revenue Flow

Item	Amount
REVENUE	$2.8B
Cost of Revenue	$1.5B
GROSS PROFIT	$1.3B
R&D Expenses	$0
Selling & Marketing	$494M
General & Administrative	$182M
SG&A Expenses	$675M
Other Expenses	$296M
Operating Expenses	$971M
Cost & Expenses	$2.4B
OPERATING INCOME	$372M
Interest Income	$16M
Interest Expense	$40M
Other Income/Expenses	-$32M
INCOME BEFORE TAX	$340M
Income Tax Expense	$93M
Net Income from Continuing Ops	$247M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$224M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$224M
D&A	$140M
EBIT	$371M
EBITDA	$511M
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$2.8B
Cost of Revenue	$1.5B
GROSS PROFIT	$1.3B
R&D Expenses	$0
Selling & Marketing	$494M
General & Administrative	$182M
SG&A Expenses	$675M
Other Expenses	$296M
Operating Expenses	$971M
Cost & Expenses	$2.4B
OPERATING INCOME	$372M
Interest Income	$16M
Interest Expense	$40M
Other Income/Expenses	-$32M
INCOME BEFORE TAX	$340M
Income Tax Expense	$93M
Net Income from Continuing Ops	$247M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$224M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$224M
D&A	$140M
EBIT	$371M
EBITDA	$511M
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$224M
Depreciation & Amortization	$140M
Stock-Based Compensation	$0
Deferred Income Tax	$0
Other Non-Cash Items	-$34M
Change in Working Capital	$0
OPERATING CASH FLOW	$330M
Capital Expenditure	-$193M
Acquisitions (Net)	-$7M
Purchases of Investments	-$7M
Sales/Maturities of Investments	$7M
Other Investing Activities	-$2M
NET CASH FROM INVESTING	-$201M
Net Debt Issuance	$52M
Common Stock Repurchased	$0
Common Dividends Paid	-$309M
Other Financing Activities	-$7M
NET CASH FROM FINANCING	-$263M
FREE CASH FLOW	$137M
Net Change in Cash	-$147M

Balance Sheet

Item	Amount
Cash & Equivalents	$299M
Short-Term Investments	$16M
Net Receivables	$438M
Inventory	$413M
Other Current Assets	$142M
TOTAL CURRENT ASSETS	$1.2B
PP&E (Net)	$1.4B
Goodwill	$148M
Intangible Assets	$171M
Long-Term Investments	$155M
Tax Assets	$34M
Other Non-Current Assets	$60M
TOTAL NON-CURRENT ASSETS	$2.0B
TOTAL ASSETS	$3.2B
Account Payables	$506M
Short-Term Debt	$95M
Deferred Revenue	$7.7K
Other Current Liabilities	$212M
TOTAL CURRENT LIABILITIES	$879M
Long-Term Debt	$511M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$133M
Other Non-Current Liabilities	$44M
TOTAL NON-CURRENT LIABILITIES	$720M
TOTAL LIABILITIES	$1.6B
Common Stock	$633M
Additional Paid-In Capital	$0
Retained Earnings	$937M
Treasury Stock	$0
Accum. Other Comp. Income	-$98M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$1.5B
Minority Interest	$133M
TOTAL EQUITY	$1.6B
TOTAL LIABILITIES & EQUITY	$3.2B
Total Debt	$646M
Net Debt	$347M