Andina Bottling Co Inc Files 20-F for Fiscal Year Ended December 31, 2023

TL;DR

<b>Andina Bottling Co Inc has filed its 2023 annual report (20-F) detailing its financial position and assets.</b>

AI Summary

ANDINA BOTTLING CO INC (AKO-B) filed a Foreign Annual Report (20-F) with the SEC on March 27, 2024. Andina Bottling Co Inc filed its annual report on Form 20-F for the fiscal year ending December 31, 2023. The company is listed on the NYSE under the ticker symbol AKO-B. Andina Bottling Co Inc is classified under SIC code 2086 for Bottled & Canned Soft Drinks and Carbonated Waters. The filing includes detailed breakdowns of property, plant, and equipment, including buildings, motor vehicles, and computer equipment. Information regarding the gross carrying amount and accumulated impairment of assets is provided for various timeframes.

Why It Matters

For investors and stakeholders tracking ANDINA BOTTLING CO INC, this filing contains several important signals. This filing provides investors with a comprehensive overview of Andina Bottling Co Inc's financial performance and asset base for the fiscal year 2023. The detailed breakdown of property, plant, and equipment, along with impairment data, offers insights into the company's operational infrastructure and potential asset value.

Risk Assessment

Risk Level: low — ANDINA BOTTLING CO INC shows low risk based on this filing. The filing is a standard annual report (20-F) and does not contain immediate red flags or significant negative developments, indicating a routine disclosure.

Analyst Insight

Investors should review the detailed asset breakdowns and impairment data within the 20-F to assess the company's fixed asset valuation and potential risks.

Key Numbers

• 2023-12-31 — Fiscal Year End (Conformed period of report)
• 2024-03-27 — Filing Date (Filed as of date)
• 2086 — SIC Code (Bottled & Canned Soft Drinks Carbonated Waters)

Key Players & Entities

• ANDINA BOTTLING CO INC (company) — Filer name
• AKO-B (company) — Ticker symbol
• 2024-03-27 (date) — Filing date
• 2023-12-31 (date) — Fiscal year end
• 0000925261 (company) — Central Index Key
• 2086 (industry) — Standard Industrial Classification
• NYSE (company) — Stock exchange

FAQ

Industry Context

Andina Bottling Co Inc operates in the beverage industry, specifically focusing on bottled and canned soft drinks and carbonated waters.

Regulatory Implications

As a foreign private issuer filing a Form 20-F, Andina Bottling Co Inc complies with SEC regulations for annual reports, providing financial and business information to U.S. investors.

What Investors Should Do

1. Review the detailed asset schedules within the 20-F for property, plant, and equipment.
2. Analyze any disclosed impairment charges related to the company's assets.
3. Compare the asset information with previous filings to identify significant changes.

Key Dates

• 2023-12-31: Fiscal Year End — The end of the reporting period for the 20-F filing.
• 2024-03-27: Filing Date — The date the 20-F report was officially submitted to the SEC.

Year-Over-Year Comparison

This is the initial filing analyzed, so no comparison to a previous filing is available.

Filing Documents

• akoa-20231231x20f.htm (20-F) — 10989KB
• akoa-20231231xex2d4.htm (EX-2.4) — 107KB
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• akoa-20231231xex12d1.htm (EX-12.1) — 15KB
• akoa-20231231xex12d2.htm (EX-12.2) — 15KB
• akoa-20231231xex13d1.htm (EX-13.1) — 8KB
• akoa-20231231xex13d2.htm (EX-13.2) — 8KB
• akoa-20231231xex97.htm (EX-97) — 27KB
• akoa-20231231x20f001.jpg (GRAPHIC) — 30KB
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• akoa-20231231xex4d7002.jpg (GRAPHIC) — 3KB
• 0001104659-24-039707.txt (&nbsp;) — 45241KB
• akoa-20231231.xsd (EX-101.SCH) — 205KB
• akoa-20231231_cal.xml (EX-101.CAL) — 144KB
• akoa-20231231_def.xml (EX-101.DEF) — 611KB
• akoa-20231231_lab.xml (EX-101.LAB) — 1214KB
• akoa-20231231_pre.xml (EX-101.PRE) — 1029KB
• akoa-20231231x20f_htm.xml (XML) — 13693KB

Item 18

Item 17 Item 18 If this is an annual report, indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes No Table of Contents TABLE OF CONTENTS INTRODUCTION 2 PART I 6 ITEM 1. IDENTITY OF DIRECTORS, SENIOR MANAGEMENT AND ADVISERS 6 ITEM 2. OFFER STATISTICS AND EXPECTED TIMETABLE 6 ITEM 3. KEY INFORMATION 6 ITEM 4. INFORMATION ON THE COMPANY 25 ITEM 4A. UNRESOLVED SECURITIES AND EXCHANGE COMMISSION STAFF COMMENTS 59 ITEM 5. OPERATING AND FINANCIAL REVIEW AND PROSPECTS 59 ITEM 6. DIRECTORS, SENIOR MANAGEMENT AND EMPLOYEES 75 ITEM 7. MAJOR SHAREHOLDERS AND RELATED PARTY TRANSACTIONS 87 ITEM 8. FINANCIAL INFORMATION 88 ITEM 9. THE OFFER AND LISTING 90 ITEM 10. ADDITIONAL INFORMATION 91 ITEM 11.

QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK 99 ITEM 12.

DESCRIPTION OF SECURITIES OTHER THAN EQUITY SECURITIES

DESCRIPTION OF SECURITIES OTHER THAN EQUITY SECURITIES 101 PART II 103 ITEM 13. DEFAULTS, DIVIDEND ARREARAGES AND DELINQUENCIES 103 ITEM 14. MATERIAL MODIFICATIONS TO THE RIGHTS OF SECURITY HOLDERS AND USE OF PROCEEDS 103 ITEM 15. CONTROLS AND DISCLOSURE PROCEDURES 103 ITEM 16. [Reserved] 104 ITEM 16A. AUDIT COMMITTEE FINANCIAL EXPERT 104 ITEM 16B. CODE OF ETHICS 104 ITEM 16C. PRINCIPAL ACCOUNTANT FEES AND SERVICES 104 ITEM 16D. EXEMPTIONS FROM THE LISTING STANDARDS FOR AUDIT COMMITTEES 105 ITEM 16E. PURCHASERS OF EQUITY SECURITIES BY THE ISSUER AND AFFILIATED PURCHASERS 105 ITEM 16F. CHANGE IN REGISTRANT'S CERTIFYING ACCOUNTANT 105 ITEM 16G. CORPORATE GOVERNANCE 106 ITEM 16H. MINE SAFETY DISCLOSURE 107 ITEM 16I. DISCLOSURE REGARDING FOREIGN JURISDICTIONS THAT PREVENT INSPECTIONS 107 ITEM 16J. INSIDER TRADING POLICIES 107 ITEM 16K CYBERSECURITY 107 PART III 110 ITEM 17.

FINANCIAL STATEMENTS

FINANCIAL STATEMENTS 110 ITEM 18.

FINANCIAL STATEMENTS

FINANCIAL STATEMENTS 110 ITEM 19. EXHIBITS 111 Table of Contents INTRODUCTION Certain Definitions Unless the context otherwise requires, as used in this annual report the following terms have the meanings set forth below: the "Company," "we," "our," "Andina" and "Coca-Cola Andina" means Embotelladora Andina S.A. and its consolidated subsidiaries; "Andina Argentina" means our subsidiary, Embotelladora del Atlntico S.A., or EDASA; "Andina Brazil" means our subsidiary, Rio de Janeiro Refrescos Ltda. and its subsidiaries; "AEASA" means our subsidiary, Andina Empaques Argentina S.A.; "EDASA" means our subsidiary, Embotelladora del Atlntico S.A.; "PARESA" means our subsidiary, Paraguay Refrescos S.A.; "Envases CMF" means our affiliate, Envases CMF S.A.; "ECSA" means our subsidiary, Envases Central S.A.; "Re-Ciclar" means our subsidiary, Re-Ciclar S.A.; "Circular-Pet" means Circular-Pet S.A.; "Vital Jugos" means our subsidiary, VJ S.A., previously known as Vital S.A. and subsequently Vital Jugos S.A.; "VASA" means our subsidiary, Vital Aguas S.A.; "TAR" means our subsidiary, Transportes Andina Refrescos Ltda.; "The Coca-Cola Company" means The Coca-Cola Company and its subsidiaries, including without limitation Coca-Cola de Chile S.A. ("CC Chile"), which operates in Chile, Recofarma Indstrias do Amazonas Ltda. ("CC Brazil"), which operates in Brazil, and Servicios y Productos para Bebidas Refrescantes S.R.L. ("CC Argentina"), which operates in Argentina; the "Chilean territory" means the regions of Antofagasta, Atacama, Coquimbo, Metropolitan Region of Santiago, Aysn and Magallanes and the Chilean Antarctic and the provinces of Cachapoal and San Antonio; the "Brazilian territory" means the greater part of the State of Rio de Janeiro, the totality of the State of Esprito Santo and parts of the State of So Paulo and the State of Minas Gerais; the "Argentine territory" means the provinces of Crdoba, Mendoza, San Juan, San Luis, Santa Fe, Entre R

Forward-Looking Statements

Forward-Looking Statements This annual report includes forward looking statements, principally under the captions "Item 4. Information on the Company—Part B. Business Overview," "Item 3. Key Information—Part D. Risk Factors," and "Item 5. Operating and Financial Review and Prospects." We have based these forward-looking statements largely on our current beliefs, expectations and projections about future events and financial trends affecting our business. Examples of such forward-looking statements include: 3 Table of Contents Words such as "believes," "expects," "anticipates," "projects," "intends," "should," "could," "may," "seeks," "aim," "combined," "estimates," "probability," "risk," "target," "goal," "objective," "future" or similar expressions are intended to identify forward-looking statements but are not the exclusive means of identifying such statements. Forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and actual results may differ materially and adversely from those described in such forward-looking statements included in this annual report as a result of various factors (including, without limitation, the actions of competitors, future global economic conditions, market conditions, foreign exchange rates and operating and financial risks), many of which are beyond our control. The occurrence of any such factors not currently expected by us would significantly alter the results set forth in these statements. You should understand that the following important factors, in addition to those d

IDENTITY OF DIRECTORS, SENIOR MANAGEMENT AND ADVISERS

ITEM 1. IDENTITY OF DIRECTORS, SENIOR MANAGEMENT AND ADVISERS Not applicable.

OFFER STATISTICS AND EXPECTED TIMETABLE

ITEM 2. OFFER STATISTICS AND EXPECTED TIMETABLE Not applicable.

KEY INFORMATION

ITEM 3. KEY INFORMATION A. [Reserved] B. CAPITALIZATION AND INDEBTEDNESS Not applicable. C. REASONS FOR THE OFFER AND USE OF PROCEEDS Not applicable. D. RISK FACTORS Summary of Risk Factors The following summarizes some, but not all, of the principal risks provided below. Please carefully consider all of the information discussed in this Item 3.D "Risk Factors" in this annual report on Form 20-F for a detailed description of these and other risks. We rely heavily on our relationship with The Coca-Cola Company, which has substantial influence over our business and operations. Non-renewal of our authorization to produce and market its branded products, or other changes in our relationship, may adversely affect our business. The beverage business environment is changing rapidly, including as a result of increased health and environmental concerns, such as epidemic diseases, single use packaging, and plastic bottles pollution, and if we do not address evolving consumer product and shopping preferences, our business could suffer. Increased concern about the health effects of sugar and other sweeteners in beverages could result in changes to the beverage business that may adversely affect our financial results. Our business is highly competitive, including with respect to price competition, which may adversely affect our net profits and margins. If our raw material costs increase, including as a result of U.S. dollar/local currency exchange risk, price volatility and inflation, our profitability may be affected. Instability in the supply of utility services and oil prices may adversely impact our results of operations. Water scarcity, poor water quality and energy shortages could adversely impact our production costs and capacity. Climate change and legal or regulatory responses thereto may have an adverse impact on our business and results of operations. Our ability to achieve our environmental, social and governmental goals are subject to risks, m

View Full Filing

View this 20-F filing on SEC EDGAR