Andina Bottling Files Audited 2023 & 2022 Consolidated Financials
Ticker: AKO-B · Form: 6-K · Filed: Feb 12, 2024 · CIK: 925261
Complexity: simple
Sentiment: neutral
Topics: financial-statements, audited-results, annual-report, foreign-issuer
TL;DR
**Andina Bottling just dropped its audited 2023 and 2022 financials, confirming its financial health.**
AI Summary
Andina Bottling Company, Inc. (Embotelladora Andina S.A.) filed a 6-K on February 12, 2024, reporting its consolidated financial statements for the years ended December 31, 2023, and 2022. The filing includes an Independent Auditor's Report dated January 30, 2024, which states that the financial statements present fairly, in all material respects, the company's financial position. This matters to investors because it provides the audited financial performance and health of the company for the past two fiscal years, crucial for evaluating its stability and future prospects.
Why It Matters
This filing provides investors with the official, audited financial results for Embotelladora Andina S.A. for the past two years, offering transparency and a basis for informed investment decisions.
Risk Assessment
Risk Level: low — This filing is a routine disclosure of audited financial statements, which generally reduces uncertainty rather than introducing new risks.
Analyst Insight
Investors should review the full consolidated financial statements included in the filing to understand the detailed performance and financial health of Embotelladora Andina S.A. for 2023 and 2022, using this information to update their valuation models and investment thesis.
Key Players & Entities
- Embotelladora Andina S.A. (company) — the registrant filing the 6-K
- Andina Bottling Company, Inc. (company) — the English translation of the registrant's name
- December 31, 2023 (date) — the end date for the most recent financial statements
- December 31, 2022 (date) — the end date for the prior year's financial statements
- January 30, 2024 (date) — the date of the Independent Auditor's Report
FAQ
What is the purpose of this 6-K filing by Embotelladora Andina S.A.?
The purpose of this 6-K filing is to report the consolidated financial statements of Embotelladora Andina S.A. and Subsidiaries for the years ended December 31, 2023, and 2022, along with the Independent Auditor's Report.
What period do the consolidated financial statements cover?
The consolidated financial statements cover the periods as of December 31, 2023, and December 31, 2022, and for the years then ended.
What is the opinion expressed in the Independent Auditor's Report?
The Independent Auditor's Report, dated January 30, 2024, states that the financial statements present fairly, in all material respects, the financial position of Embotelladora Andina S.A. and Subsidiaries.
Where is the principal executive office of Embotelladora Andina S.A. located?
The principal executive office of Embotelladora Andina S.A. is located at Avda. Miraflores 9153 Renca Santiago, Chile.
Under which form does Embotelladora Andina S.A. file its annual reports?
Embotelladora Andina S.A. indicates by check mark that it files its annual reports under cover Form 20-F.
Filing Stats: 4,071 words · 16 min read · ~14 pages · Grade level 10.3 · Accepted 2024-02-12 10:56:23
Filing Documents
- tm245696d1_6k.htm (6-K) — 2912KB
- tm245696d1_6kimg01.jpg (GRAPHIC) — 2KB
- tm245696d1_cococolalogo.jpg (GRAPHIC) — 5KB
- 0001104659-24-013927.txt ( ) — 2923KB
FINANCIAL STATEMENTS AND APPLICATION OF ACCOUNTING CRITERIA
FINANCIAL STATEMENTS AND APPLICATION OF ACCOUNTING CRITERIA 2.1 Accounting principles and basis of preparation The Company’s Consolidated Financial Statements for the period ended December 31, 2023fiscal year ended December 31, 2023 and 2022, have been prepared in accordance with International Financial Reporting Standards issued by the International Accounting Standards Board (hereinafter "IFRS") and the Interpretations issued by the IFRS Interpretations Committee (IFRIC) applicable to companies reporting under IFRS. These Consolidated Financial Statements have been prepared following the going concern principle by applying the historical cost method, with the exception, according to IFRS, of those assets and liabilities that are recorded at fair value. These Consolidated Statements reflect the consolidated financial position of Embotelladora Andina S.A. and its Subsidiaries as of December 31, 2023 and 2022 and the results of operations for the periods from January 1 to December 31, 2023 and 2022, December 31, 2023together with the statements of changes in equity and cash flows for the periods from January 1 and December 31, 2023 and 2022. These Consolidated Financial Statements have been prepared based on the accounting records maintained by the Parent Company and by the other entities that are part of the Company and are presented in thousands of Chilean pesos (unless expressly stated) as this is the functional and presentation currency of the Company. Foreign operations are included in accordance with the accounting policies established in Notes 2.5. 2.2 Subsidiaries and consolidation Subsidiary entities are those companies directly or indirectly controlled by Embotelladora Andina. Control is obtained when the Company has power over the investee, when it has exposure or is entitled to variable returns from its involvement in the investee and when it has the ability to use its power to influence the amount of investor returns. They inclu