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The firm saw sales grow 9.8%, despite a 1.8% drop in volumes.
Figures that are showing a recovery in volumes reported as part of CCU’s third quarter results delivery, the multi-category beverage company linked to the Luksic and Heineken group, with operations in Chile, Argentina, Bolivia, Colombia, Paraguay and Uruguay.
The firm reported a 9.8% increase in its sales between July and September, totaling US $ 546 million. In its rationale, the company explained that this is due to “An 11.8% increase in average prices in CLP (Chilean currency), partially offset by a 1.8% decrease in consolidated volumes”. In the accumulated, sales have risen 1.1%, to US $ 1,586.2 million.
He added that the higher prices are due to a 31.5% expansion in the International Business operating segment, “Mostly related to revenue management initiatives and a lower comparison base in 2019, associated with the application of hyperinflationary accounting in Argentina”; a 6.1% increase in the Chile operating segment, due to revenue management initiatives and a positive effect of the mix between categories, offsetting the negative impact of the pandemic on high-margin consumption occasions, and finally a 0.9% growth in the Wine operating segment, as a consequence of a stronger dollar in export earnings, partially offset by a negative effect on the mix.
Regarding volumes, those of the international business fell 5.5%, while in Chile it was only 1.3%, offset by an 18.7% growth in wines.
“Throughout the quarter, all of our geographies and main categories showed an upward trend in volumes, driven mainly by a gradual recovery in consumption occasions, since the restrictions of the pandemic began to decrease in the region, especially in Chile, and also due to our strong portfolio of brands and sales execution, ”the company explained.
Earnings in the third quarter were US $ 15.5 million, an increase of 40.6%. However, in the accumulated of the year, these add up to US $ 52.4 million, a decrease of 45.3%.
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