Andina Bottling Co. Files 6-K Report

Ticker: AKO-B · Form: 6-K · Filed: Oct 30, 2024 · CIK: 925261

Sentiment: neutral

Topics: sec-filing, foreign-issuer, disclosure

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 October 30, 2024, reporting events as of October 29, 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 is based in Santiago, Chile, and operates in the bottled and canned soft drinks and carbonated waters industry.

Why It Matters

This filing provides an update on the company's activities and regulatory disclosures as a foreign issuer, which is important for investors tracking its compliance and operational status.

Risk Assessment

Risk Level: low — This filing is a routine disclosure for a foreign issuer and does not appear to contain significant new risks.

Key Players & Entities

FAQ

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

The primary purpose is to serve as 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.

What is the address of the principal executive office?

The address of the principal executive office is Avda. Miraflores 9153 Renca Santiago, Chile.

Does the registrant file annual reports under Form 20-F or Form 40-F?

The registrant indicates it files annual reports under Form 20-F.

What is the Standard Industrial Classification code for this company?

The Standard Industrial Classification code is [2086] for BOTTLED & CANNED SOFT DRINKS CARBONATED WATERS.

Filing Stats: 4,622 words · 18 min read · ~15 pages · Grade level 8.3 · Accepted 2024-10-29 18:10:34

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 October 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 214.4 million unit cases*, increasing 5.7% regarding the same quarter of the previous year. Transactions* reached 1,155.7 million in the quarter, representing a 2.4% increase regarding the same quarter of the previous year. Accumulated consolidated Sales Volume reached 640.3 million unit cases, representing a 0.9% increase regarding the previous year. Accumulated transactions reached 3,490.3 million, representing a 0.2% decrease. Company figures reported are the following: · Consolidated Net Sales reached CLP 726,806 million in the quarter, increasing by 8.4% over the same quarter of the previous year. Accumulated consolidated Net Sales reached CLP 2,210,479 million, representing a 9.4% increase regarding the previous year. · Consolidated Operating Income* reached CLP 78,587 million in the quarter, representing a 0.6% increase over the same quarter of the previous year. Accumulated consolidated Operating Income reached CLP 278,204 million, an increase of 10.4% regarding the previous year. · Consolidated Adjusted EBITDA* increased by 3.7% over the same quarter of the previous year, reaching CLP 114,634 million in the quarter. Adjusted EBITDA Margin reached 15.8%, a contraction of 72 basis points regarding the same quarter of the previous year. Accumulated consolidated Adjusted EBITDA reached CLP 386,123 million, which represents an increase of 11.8% regarding the previous year. Adjusted EBITDA Margin for the period reached 17.5%, an expansion of 39 basis points regarding the previous year. · Net Income attributable to the owners of the controller for the quarter was CLP 41,942 million, representing a 34.2% decrease regarding the same quarter of the previous year. Accumulated Net Income attributable to the owners of the controller was CLP 132,988 million, which represents an 18.6% increase regarding the previous year. SUMMARY OF RESULTS – THIRD QUARTER 2024 AND ACCUMULATED AS OF THE THIRD QUARTER (Figures in million CLP) 3Q23 3Q24 Var % 9M23 9M24 Var % Sales Volume (Million Unit Cases ) 202.9 214.4 5.7 % 634.3 640.3 0.9 % Net Sales 670,333 726,806 8.4 % 2,021,002 2,210,479 9.4 % Operating Income* 78,140 78,587 0.6 % 251,974 278,204 10.4 % Adjusted EBITDA* 110,520 114,634 3.7 % 345,219 386,123 11.8 % Net income attributable to the owners of the controller 63,708 41,942 -34.2 % 112,150 132,988 18.6 % Comment of the Chief Executive Officer. Mr. Miguel Ángel Peirano "In the third quarter of 2024, sales volume increased by 5.7% compared to the same period in the previous year, reaching 214.4 million unit cases. The Brazilian market has experienced exceptional development, with a volume growth rate of 15.8% during the period, which is explained by favorable weather conditions, industry expansion, market share gains, and an increase in sales to other bottlers. Excluding sales to Coca-Cola Femsa's Rio Grande do Sul franchise in Brazil, which is temporarily facing production capacity issues due to the floods it experienced in May, sales volume still showed strong growth of 13.9%. In Paraguay, sales volumes increased by 6.3%, primarily driven by exports to Brazil for the previously mentioned reason. Excluding these exports, sales volume would have decreased by 0.8%, which is explained by less favorable weather than in the previous year. In contrast to the significant declines observed in the first half of the year, Argentina's sales volume decreased by only 4.3% (-10.0% excluding exports to Brazil). This improvement provides us with a sense of optimism for the remainder of 2024 and the upcoming year. Finally, in Chile, sales volume grew 1.7%. Consolidated Adjusted EBITDA reached CLP 114,6

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