Embotelladora Andina (ANDINA-B) Q2 2025 earnings summary

Executive summary

• 2Q25 volume rose 5.3% YoY to 207.5 million unit cases and transactions increased 4.7% to 1,136.7 million; 1H25 volume grew 7.7% to 458.5 million unit cases.

• 2Q25 net sales increased 9.8% to CLP 738,154 million and adjusted EBITDA rose 9.2% to CLP 119,323 million.

Financial highlights

• 2Q25 operating income rose 8.5% to CLP 79,873 million; adjusted EBITDA margin was 16.2%, down 9 bps, while attributable net income rose 51.3% to CLP 37,233 million.

• 1H25 net sales rose 8.5% to CLP 1,612,680 million; operating income increased 5.4% to CLP 210,562 million and adjusted EBITDA grew 6.1% to CLP 288,529 million.

• 1H25 adjusted EBITDA margin was 17.9%, down 41 bps; attributable net income reached CLP 113,589 million, up 21.4%, with a 7.0% net margin.

• Digital platforms generated 75.5% of 2Q25 net revenue, up 33.7 percentage points YoY.

Outlook and guidance

• Three production lines are scheduled to launch in 2H25: a multi-category soft drink and beer line and a mineral water line in Duque de Caxias, plus a returnable beverage line in Paraguay.