Andina Bottling Co. Files 6-K Report

Ticker: AKO-B · Form: 6-K · Filed: May 1, 2024 · CIK: 925261

Sentiment: neutral

Topics: foreign-issuer, reporting

TL;DR

Andina Bottling Co. (AKO) filed a 6-K, standard foreign issuer report.

AI Summary

Embotelladora Andina S.A. (Andina Bottling Company, Inc.) filed a Form 6-K on May 1, 2024, reporting events as of April 30, 2024. The filing is a report of a foreign issuer pursuant to Rule 13a-16 or 15d-16 of the Securities Exchange Act of 1934. The company's principal executive office is located in Santiago, Chile.

Why It Matters

This filing provides routine updates for foreign issuers, informing investors about the company's ongoing reporting obligations and corporate structure.

Risk Assessment

Risk Level: low — This is a routine filing for a foreign issuer and does not contain specific financial or operational disclosures that would indicate immediate risk.

Key Players & Entities

FAQ

What is the primary purpose of this Form 6-K filing?

The primary purpose of this Form 6-K filing is to report information that Embotelladora Andina S.A. has made or is required to make public in Chile, file or make public in the country of its domicile, or file or make public with any stock exchange on which its securities are traded.

What is the company's legal name and its English translation?

The company's legal name is Embotelladora Andina S.A., and its English translation is Andina Bottling Company, Inc.

Where is Embotelladora Andina S.A.'s principal executive office located?

Embotelladora Andina S.A.'s principal executive office is located at Avda. Miraflores 9153 Renca Santiago, Chile.

What is the filing date and the period of report for this 6-K?

The filing date is May 1, 2024, and the conformed period of report is April 30, 2024.

Does Embotelladora Andina S.A. file annual reports under Form 20-F or Form 40-F?

Embotelladora Andina S.A. files annual reports under cover of Form 20-F.

Filing Stats: 4,683 words · 19 min read · ~16 pages · Grade level 8 · Accepted 2024-04-30 17:55:44

Key Financial Figures

Filing Documents

From the Filing

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 6-K REPORT OF FOREIGN ISSUER PURSUANT TO RULE 13a-16 OR 15b-16 OF THE SECURITIES EXCHANGE ACT OF 1934 April 2024 Date of Report (Date of Earliest Event Reported) Embotelladora Andina S.A. (Exact name of registrant as specified in its charter) Andina Bottling Company, Inc. (Translation of Registrant´s name into English) Avda. Miraflores 9153 Renca Santiago, Chile (Address of principal executive office) Indicate by check mark whether the registrant files or will file annual reports under cover Form 20-F or Form 40-F. Form 20-F Form 40-F Indicate by check mark if the Registrant is submitting this Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): Yes No Indicate by check mark if the Registrant is submitting this Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): Yes No Indicate by check mark whether the registrant by furnishing the information contained in this Form 6-K is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934 Yes No EXECUTIVE SUMMARY The quarter closed with a consolidated Sales Volume of 228.8 million unit cases*, a decrease of 2.6% compared to the same quarter of the previous year. Transactions for the quarter totaled 1,248.7 million, a decrease of 2.7% compared to the same quarter of the previous year. Company figures reported are the following: · Consolidated Net Sales reached CLP 804,637 million in the quarter, increasing by 14.6% over the same quarter of the previous year. · Consolidated Operating Income* reached CLP 124,595 million in the quarter, representing a 26.7% increase over the same quarter of the previous year. · Consolidated Adjusted EBITDA* increased by 25.9% over the same quarter of the previous year, reaching CLP 160,412 million in the quarter. Adjusted EBITDA Margin reached 19.9%, an expansion of 178 basis points regarding the same quarter of the previous year. · Net Income attributable to the owners of the controller for the quarter was CLP 70,814 million, representing a 63.4% increase regarding the same quarter of the previous year. SUMMARY OF RESULTS - FIRST QUARTER 2024 (Figures in million CLP) 1Q23 1Q24 Var % Sales Volume (Million Unit Cases ) 235.0 228.8 -2.6 % Net Sales 701,856 804,637 14.6 % Operating Income* 98,336 124,595 26.7 % Adjusted EBITDA* 127,437 160,412 25.9 % Net income attributable to the owners of the controller 43,339 70,814 63.4 % Comment of the Chief Executive Officer. Mr. Miguel Ángel Peirano "We started 2024 with solid financial results. In local currency, adjusted EBITDA increased 46.4% in Brazil, 17.1% in Paraguay and 9.4% in Chile. In Argentina, we had a weak quarter, again due to the country's fragile macroeconomic situation, which resulted in a 14.2% decrease in adjusted EBITDA in local currency (in real terms). As a result, the Company's consolidated EBITDA reached CLP 160,412 million, an increase of 25.9% over the same period last year, while the adjusted EBITDA margin expanded 178 basis points to 19.9%. Excluding the Argentine operation, the Company's EBITDA grew 35.7% compared to the same period in the previous year. In terms of sales volume, Brazil and Paraguay continued to show solid growth of 9.7% and 9.4%, respectively, compared to the same period last year. On the other hand, the Chilean operation recorded a volume decline of 2.9%, a significant improvement compared to the 8.3% decline reported in the previous quarter, while the Argentine operation recorded a decline of 23.2%, due to the factors mentioned above. As a result, consolidated volume decreased 2.6% in the quarter, but excluding the Argentina operation, it increased 3.6%. On the other hand, in January we inaugurated a new high-capacity production line at our Renca plant, which allows us to produce carbonated beverages as well as flavored and plain waters. Finally, in February, we received the results of our participation in the Carbon Disclosure Project (CDP), a global platform that enables companies and cities to manage, disclose and share key information about their environmental impacts. The result was very positive, we achieved an A- rating and became part of the group of global leaders". *For definitions, please refer to the Glossary on page 13 of this document. COCA-COLA ANDINA 1 Q24 EARNINGS RELEASE www.koandina.com -2- BASIS OF PRESENTATION Figures in the following analysis are expressed in accordance with IFRS, in nominal Chilean pesos, both for consolidated results and for the results of each of our operations. All variations with respect to 2023 are nominal. Since Argentina has been classified as a Hyperinflationary economy, pursuant to IAS 29, translation of figures from local to reporting currency was performed using the closing

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