Embotelladora Andina (ANDINA-B) Q2 2026 earnings summary

Executive summary

• Largest bottler in Argentina, Chile, Paraguay, and third largest in Brazil, with 946 million unit cases sold in FY2025 and revenues of ~$3.6 billion.

• Consolidated sales volume grew 3.0% year-over-year to 213.7 million unit cases in Q2 2026, with transactions up 4.7%.

• Strong focus on sustainability, digital transformation, and operational efficiency, with a diversified beverage portfolio and high employee engagement.

• Maintains investment grade ratings (BBB+/Baa1) and a solid financial position with leverage at 1.2x Net Financial Debt/Adj. EBITDA.

• Digital transformation advanced, with 86% of net revenue generated through digital platforms and NPS at 60.4%.

Financial highlights

• FY2025 net sales reached $3,555 million, up from $3,371 million in 2024; adjusted EBITDA was $653 million, with a margin of 18.4%.

• Net income for FY2025 was $285 million, up from $244 million in 2024.

• H1 2026 net sales up 8.2% to CLP 1,744,445 million; adjusted EBITDA up 15.6% to CLP 333,586 million.

• Free cash flow for 2025 was $268 million, with capital expenditures of $298 million.

• Dividend payout ratio for 2025 was 110%, with a dividend yield of 8.2% for Series A shares.

Outlook and guidance

• Strategic objectives for 2026–2029 include growth in NARTD & ARTD portfolios, new categories, and geographic expansion.

• Focus on cost effectiveness, digitization, and sustainability, with 2030 commitments to double female workforce participation and reduce GHG emissions by 42% (scope 1 & 2) and 25% (scope 3).

• Management remains focused on revenue management, cost control, and digital transformation to drive resilience and competitiveness.

• Sustainability and ESG integration continue as strategic pillars, with recognition in FTSE4Good and DJSI indices.