Andina Bottling Co. Files Foreign Issuer Report (6-K)

Ticker: AKO-B · Form: 6-K · Filed: Jul 31, 2024 · CIK: 925261

Sentiment: neutral

Topics: regulatory-filing, foreign-issuer, 6-k

TL;DR

Andina Bottling (AKO) filed a 6-K, just a routine foreign issuer report. Nothing major here.

AI Summary

Embotelladora Andina S.A. (Andina Bottling Company, Inc.) filed a Form 6-K on July 31, 2024, reporting events as of July 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 indicates ongoing reporting obligations for Embotelladora Andina S.A. as a foreign issuer, providing transparency to investors about its regulatory compliance.

Risk Assessment

Risk Level: low — This filing is a standard regulatory report for a foreign issuer and does not contain specific financial or operational news that would typically increase risk.

Key Players & Entities

FAQ

What type of filing is this Form 6-K?

This Form 6-K is a Report of Foreign Issuer Pursuant to Rule 13a-16 or 15d-16 of the Securities Exchange Act of 1934.

What is the exact name of the registrant as specified in its charter?

The exact name of the registrant is Embotelladora Andina S.A.

Where is the principal executive office of Embotelladora Andina S.A. located?

The principal executive office is located at Avda. Miraflores 9153 Renca Santiago, Chile.

What is the filing date of this report?

The filing date of this report is July 31, 2024.

What is the SIC code for Andina Bottling Co Inc?

The Standard Industrial Classification (SIC) code is 2086, for Bottled & Canned Soft Drinks Carbonated Waters.

Filing Stats: 4,641 words · 19 min read · ~15 pages · Grade level 8.2 · Accepted 2024-07-30 19:04:18

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 July 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 197.1 million unit cases*, increasing 0.3% regarding the same quarter of the previous year. Transactions reached 1,085.9 million in the quarter, representing a 0.1% decrease regarding the same quarter of the previous year. Accumulated consolidated Sales Volume reached 425.9 million unit cases, representing a 1.3% decrease regarding the previous year. Accumulated transactions reached 2,334.6 million, representing a 1.5% decrease. Company figures reported are the following: · Consolidated Net Sales reached CLP 672,193 million in the quarter, increasing by 9.4% over the same quarter of the previous year. Accumulated consolidated Net Sales reached CLP 1,485,738 million, representing a 12.0% increase regarding the previous year. · Consolidated Operating Income* reached CLP 73,582 million in the quarter, representing a 5.6% increase over the same quarter of the previous year. Accumulated consolidated Operating Income reached CLP 199,846 million, an increase of 17.6% regarding the previous year. · Consolidated Adjusted EBITDA* increased by 9.5% over the same quarter of the previous year, reaching CLP 109,259 million in the quarter. Adjusted EBITDA Margin reached 16.3%, an expansion of 2 basis points regarding the same quarter of the previous year. Accumulated consolidated Adjusted EBITDA reached CLP 271,854 million, which represents an increase of 18.5% regarding the previous year. Adjusted EBITDA Margin for the period reached 18.3%, an expansion of 99 basis points regarding the previous year. · Net Income attributable to the owners of the controller for the quarter was CLP 24,602 million, representing a 101.8% increase regarding the same quarter of the previous year, as a result of good operating results and the fact that a non-operating loss was recorded in 2023, which was not repeated in 2024. Accumulated Net Income attributable to the owners of the controller was CLP 93,588 million, which represents a 76.8% increase regarding the previous year. SUMMARY OF RESULTS – SECOND QUARTER 2024 AND ACCUMULATED FOR THE FIRST HALF 2024 (Figures in million CLP) 2Q23 2Q24 Var % 1H23 1H24 Var % Sales Volume (Million Unit Cases ) 196.4 197.1 0.3 % 431.4 425.9 -1.3 % Net Sales 614,428 672,193 9.4 % 1,325,983 1,485,738 12.0 % Operating Income* 69,682 73,582 5.6 % 169,868 199,846 17.6 % Adjusted EBITDA* 99,770 109,259 9.5 % 229,486 271,854 18.5 % Net income attributable to the owners of the controller 12,192 24,602 101.8 % 52,931 93,588 76.8 % Comment of the Chief Executive Officer. Mr. Miguel Ángel Peirano "We closed the second quarter with a Consolidated Adjusted EBITDA of CLP 109,259 million increasing 9.5% over the same quarter of the previous year. Additionally, Adjusted EBITDA margin reached 16.3%, an expansion of 2 basis points over the same period of the previous year. Sales volume totaled 197.1 million unit cases, a 0.3% growth over the same period. Results by operation were dissimilar. While in Brazil volume grew 19.9%, explained by favorable weather factors, industry growth and increased sales to other bottlers; our sales volume in Argentina dropped by 24.8% in the quarter, due to the country’s weak macroeconomic position. We are optimistic for the second half of the year, though, as we have seen an improvement in our volumes in Argentina over the past few weeks. In Paraguay, sales volumes grew 10.1%, explained by the country's solid macroeconomic conditions, and in Chile they declined 6.0%, mainly due to adverse weather conditions during the quarter. Thus, Adjusted EBITDA in local currency grew 56.4% in Brazil and 17.7% in Paraguay, while in Chile it fell 4.0% and in Argentina it

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