Compañía Cervecerías Unidas S.A. (NYSE:CCU) Q2 2021 Earnings Conference Call August 6, 2021 12:00 PM ET
Company Participants
Claudio Las Heras – Head of Investor Relations
Patricio Jottar – Chief Executive Officer
Felipe Dubernet – Chief Financial Officer
Conference Call Participants
Fernando Olvera – Bank of America
Felipe Ucros – Scotiabank
Mohammed Ahmad – FGP
Felipe Ucros – Scotiabank
Claudio Las Heras
[Call Starts Abruptly] these statements should be taken in conjunction with the additional information about risks and uncertainties set forth in CCU’s annual report in Form 20-F filed with the U.S. Security and Exchange Commission and in the annual report submitted to the CMF and available on our website.
It is my pleasure to introduce Patricio Jottar.
Patricio Jottar
Thank you, Claudio, and thank you all for joining us today. In the second quarter of 2021, CCU continued with a positive momentum by posting a strong improvement in volumes and financial results, not only versus last year, but also versus pre-pandemic figures. The later has been the result of our capability to adapt and operate in a challenging scenario with the COVID-19 pandemic through the execution of our regional plan with three points, the safety for people, operation continuity and financial health, and the successful implementation for strategy, which focuses on maintaining and gain business scale and market share along with a gradual recovering profitability as we have shown since the fourth quarter 2020.
Regarding our consolidated performance revenues jumped 14.6% during the quarter posted by a 30.5% growth in volumes and 13.2% higher average prices in Chilean pesos. The sharp volume expansion was explained by a recovery and consumption a solid sales execution and the strength of our portfolio of brands in terms of a financial results consolidated EBITDA more than tripled versus last year and EBITDA margin improved from 6.2$ to
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