Embotelladora Andina: Profits Grew in 2008

Profits for the Chilean soft-drink manufacturer Embotelladora Andina (NYSE: AKO.A) reached Ch$94.8 bln (US$157 mln) in 2008, 6.7% above the 2007 figures.

The Operating Result reached Ch$138.7 bln (US$227 mln), a 10.3% increase from 2007.

Total Sales Volume reached to 454.6 million unitarian boxes, 3% above last year.

By segment, juices, water and beer grew 11.4%, while soda grew by 2.2% in sales volume.

The appreciation of the Brazilian Real and the Chilean Peso at 6.5% and 0.4% respectively, contributed positively to the result. Currency fluctuations had a positive effect of Ch$15 bln (US$24.4 mln).

EBITDA reached Ch$176 bln (US$290 mln), representing a growth of 12.2%.

The company's financial position as of December 31, 2008, shows Current Liabilities at Ch$133 bln (US$217 mln), Long Term Liabilities at Ch$122 bln (US$198 mln), and Total Equity at Ch$346 bln (US$564 mln).

Andina's ADR has a 12-month negative performance of -11.83%. The current price of US$14.9 per ADR implies a Market Cap of US$1.52 bln, and a P/E of 14.02.

The company's latest financial statements can be found here.

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