Embotelladora Andina (ANDINA-B) Q4 2025 earnings summary

Executive summary

• Consolidated sales volume for 4Q25 was 266.7 million unit cases, down 0.8% year-over-year; excluding prior year sales to Coca-Cola Femsa, volume grew 0.8%.

• Net sales for the quarter rose 2.2% to CLP 973,277 million; operating income increased 10.1% to CLP 157,370 million.

• Adjusted EBITDA grew 9.8% to CLP 199,962 million, with margin expanding 141 bps to 20.5%.

• Net income attributable to owners rose 5.0% to CLP 103,559 million.

• Full-year 2025 sales volume increased 4.1%, net sales up 3.7%, and net income up 15.5%.

Financial highlights

• 4Q25 consolidated net sales: CLP 973,277 million (+2.2% YoY); operating income: CLP 157,370 million (+10.1% YoY).

• Adjusted EBITDA: CLP 199,962 million (+9.8% YoY); margin: 20.5%.

• Net income attributable to owners: CLP 103,559 million (+5.0% YoY); net margin: 10.6%.

• Full-year 2025: net sales CLP 3,344,836 million (+3.7%), operating income CLP 455,367 million (+6.6%), adjusted EBITDA CLP 614,608 million (+6.3%), net income CLP 268,697 million (+15.5%).

Outlook and guidance

• 2026 Capex projected at USD 250 million, focused on returnable containers, cases, and cooling equipment.

• Capex estimate subject to macroeconomic conditions in operating countries.