olivLaw · US equity research
Compañía Cervecerías Unidas S.A. CCU
Malt Beverages · SIC 2082 · Vertical: Food products (SIC 208x)
Compañía Cervecerías Unidas S.A. is a Chilean beverage group active in beer, soft drinks, wine and spirits, with major operations in Chile and Argentina. For fiscal 2025 the group reported net sales of 2909.6 bn CLP and net income of 137.3 bn CLP, while its adjusted operating result declined under pressure from Argentina and the wine segment.
The AI analysis may be outdated: new filings came after its sources (see the «AI analysis» section).
At the close of 04 Nov 2026, Compañía Cervecerías Unidas S.A. (CCU) stock was 10.98 USD (+5.88% on the day), with beta 0.62, 52-week range 10.29–15.25 USD.
Data as of · AI analysis dated · Source: SEC filings and closing prices, computed by olivLaw.
Price history
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Technical reading
- RSI (14)
- 55.4
- strong (55–70)
- Bollinger (20, 2)
- 10.19 – 11.15
- in the upper half of the band · %B 0.82 · band width 9.0%
- SMA 50 / 200
- 11.09 / 11.86
- downtrend (price < SMA50 < SMA200)
- MACD (12, 26, 9)
- -0.14 / -0.17
- MACD above signal
Indicators describe past prices; on their own they do not predict direction. On our history the RSI ≤ 40 filter added no return (see the signals methodology).
Performance
| Company | S&P 500 | vs S&P 500 | Vertical median | |
|---|---|---|---|---|
| 1 month | 0.0% | −1.1% | +1.1 pp | — |
| 3 months | −6.1% | −0.5% | −5.6 pp | — |
| 6 months | −8.3% | +4.4% | −12.7 pp | — |
| Year to date | −13.9% | +12.3% | −26.3 pp | — |
| 1 year | −13.4% | +13.5% | −26.9 pp | +9.5% |
| 3 years | −7.1% | +76.4% | −83.5 pp | −18.1% |
| 5 years | −40.7% | +63.7% | −104.4 pp | — |
Price returns, dividends excluded.
Quarterly results
ESEF annual reports carry no quarters: the results are annual (below).
E/P over time
the price (USD) and the reports are in different currencies
E/P = trailing-12-month diluted EPS / price at quarter end. E/P is the inverse of P/E and stays defined when earnings are negative.
Fiscal years
| Fiscal year | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 1,698.4 bn | 1,783.3 bn | 1,822.5 bn | 1,857.6 bn | 2,484.7 bn | 2,711.4 bn | 2,565.6 bn | 2,904.6 bn |
| Revenue YoY | +8.9% | +5.0% | +2.2% | +1.9% | +33.8% | +9.1% | −5.4% | +13.2% |
| Net income | 129.6 bn | 306.9 bn | 145.6 bn | 108.2 bn | 219.1 bn | 135.5 bn | 118.4 bn | 176.5 bn |
| Net income YoY | +9.4% | +136.8% | −52.5% | −25.7% | +102.5% | −38.1% | −12.6% | +49.1% |
| Diluted EPS | 350.76 | 830.55 | unavailable | unavailable | unavailable | unavailable | unavailable | unavailable |
| Diluted EPS YoY | +9.4% | +136.8% | unavailable | unavailable | unavailable | unavailable | unavailable | unavailable |
| net % | 7.6% | 17.2% | 8.0% | 5.8% | 8.8% | 5.0% | 4.6% | 6.1% |
| Free cash flow | 138.6 bn | 300.9 bn | 107.7 bn | 163.7 bn | 123.7 bn | -142.7 bn | 169.7 bn | 134.6 bn |
Reported results vs expectations
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Balance sheet & financial health
Fiscal year 2024 · 31 Dec 2024
- Cash
- 707.1 bn CLP
- Financial debt
- unavailable CLP
- Net debt
- unavailable CLP
- Equity
- 1,672.5 bn CLP
- Total assets
- 3,989.7 bn CLP
- Debt / equity
- unavailable
- Current ratio
- 2.06x
- ROE
- 11.7%
- ROA
- 4.8%
- FCF margin
- 4.6%
Financial statements (source on every figure)
Revenue and net income (CLP)
Margins
Income statement · CLP
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Revenue | 1,822.5 bn | 1,857.6 bn | 2,484.7 bn | 2,711.4 bn | 2,565.6 bn | 2,904.6 bn | SEC (XBRL)· 29 Apr 2025verified |
| Cost of revenue | 908.3 bn | 984.0 bn | 1,291.6 bn | 1,514.9 bn | 1,378.6 bn | 1,591.0 bn | SEC (XBRL)· 29 Apr 2025verified |
| Gross profit | 914.2 bn | 873.6 bn | 1,193.2 bn | 1,196.5 bn | 1,186.9 bn | 1,313.6 bn | SEC (XBRL)· 29 Apr 2025verified |
| Operating income | 234.0 bn | 175.2 bn | 330.5 bn | 218.8 bn | 240.0 bn | 262.6 bn | SEC (XBRL)· 29 Apr 2025verified |
| Depreciation & amortisation | 105.0 bn | 109.8 bn | 124.1 bn | 126.5 bn | 126.1 bn | 153.2 bn | SEC (XBRL)· 29 Apr 2025verified |
| EBITDA | 339.0 bn ≈ | 285.0 bn ≈ | 454.6 bn ≈ | 345.3 bn ≈ | 366.1 bn ≈ | 415.8 bn ≈ | SEC (XBRL)· 29 Apr 2025derived |
| Interest expense | 27.7 bn | 28.7 bn | 35.7 bn | 75.9 bn | 77.0 bn | 97.2 bn | SEC (XBRL)· 29 Apr 2025verified |
| Pre-tax income | 185.6 bn | 143.6 bn | 301.7 bn | 135.7 bn | 103.2 bn | 165.5 bn | SEC (XBRL)· 29 Apr 2025verified |
| Income tax | 40.0 bn | 35.4 bn | 82.6 bn | 263.9 m | -15.3 bn | -11.0 bn | SEC (XBRL)· 29 Apr 2025verified |
| Net income | 145.6 bn | 108.2 bn | 219.1 bn | 135.5 bn | 118.4 bn | 176.5 bn | SEC (XBRL)· 29 Apr 2025verified |
| Dividend per share | 590.08 | 276.41 | 741.91 | 428.47 | 177.49 | 221.37 | SEC (XBRL)· 29 Apr 2025derived |
≈ computed by olivLaw from the reported lines of the same year: Operating income + Depreciation & amortisation.
Balance sheet · CLP
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Cash | 196.4 bn | 396.4 bn | 265.6 bn | 597.1 bn | 618.2 bn | 707.1 bn | SEC (XBRL)· 29 Apr 2025verified |
| Receivables | 300.0 bn | 275.4 bn | 373.0 bn | 445.3 bn | 446.5 bn | 506.7 bn | SEC (XBRL)· 29 Apr 2025verified |
| Inventories | 232.4 bn | 231.8 bn | 353.4 bn | 480.8 bn | 425.7 bn | 459.4 bn | SEC (XBRL)· 29 Apr 2025verified |
| Current assets | 789.3 bn | 960.0 bn | 1,091.4 bn | 1,661.9 bn | 1,601.7 bn | 1,771.3 bn | SEC (XBRL)· 29 Apr 2025verified |
| Property, plant & equipment, net | 1,071.7 bn | 1,082.5 bn | 1,222.3 bn | 1,356.8 bn | 1,274.0 bn | 1,522.7 bn | SEC (XBRL)· 29 Apr 2025verified |
| Goodwill | 125.0 bn | 117.2 bn | 131.2 bn | 137.0 bn | 127.6 bn | 161.6 bn | SEC (XBRL)· 29 Apr 2025verified |
| Intangibles (excl. goodwill) | 125.6 bn | 128.3 bn | 151.9 bn | 172.4 bn | 153.1 bn | 244.6 bn | SEC (XBRL)· 29 Apr 2025verified |
| Total assets | 2,353.7 bn | 2,525.3 bn | 2,846.8 bn | 3,595.1 bn | 3,423.9 bn | 3,989.7 bn | SEC (XBRL)· 29 Apr 2025verified |
| Accounts payable | 306.7 bn | 324.5 bn | 515.5 bn | 491.3 bn | 435.0 bn | 514.9 bn | SEC (XBRL)· 29 Apr 2025verified |
| Current liabilities | 483.3 bn | 521.5 bn | 781.1 bn | 797.2 bn | 687.5 bn | 860.0 bn | SEC (XBRL)· 29 Apr 2025verified |
| Total liabilities | 910.8 bn | 1,116.5 bn | 1,421.2 bn | 2,159.1 bn | 2,086.6 bn | 2,317.2 bn | SEC (XBRL)· 29 Apr 2025verified |
| Equity | 1,442.9 bn | 1,408.8 bn | 1,425.5 bn | 1,436.0 bn | 1,337.4 bn | 1,672.5 bn | SEC (XBRL)· 29 Apr 2025verified |
| Shares outstanding at year end | 369.5 m | 369.5 m | 369.5 m | 369.5 m | 369.5 m | 369.5 m | SEC (XBRL)· 29 Apr 2025verified |
- 2022
- 1,356.8 bn
- 2023
- 1,274.0 bn
- 2024
- 1,522.7 bn
SEC (XBRL)· 29 Apr 2025verified
Cash flow · CLP
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Operating cash flow | 242.3 bn | 280.7 bn | 293.4 bn | 45.9 bn | 294.1 bn | 287.5 bn | SEC (XBRL)· 29 Apr 2025verified |
| Capex | 134.7 bn | 117.0 bn | 169.7 bn | 188.7 bn | 124.4 bn | 152.9 bn | SEC (XBRL)· 29 Apr 2025verified |
| Free cash flow | 107.7 bn ≈ | 163.7 bn ≈ | 123.7 bn ≈ | -142.7 bn ≈ | 169.7 bn ≈ | 134.6 bn ≈ | SEC (XBRL)· 29 Apr 2025derived |
| Investing cash flow | -144.2 bn | -140.5 bn | -179.0 bn | -236.5 bn | -137.2 bn | -118.3 bn | SEC (XBRL)· 29 Apr 2025verified |
| Financing cash flow | -199.4 bn | 64.7 bn | -233.6 bn | 537.1 bn | -118.0 bn | -125.0 bn | SEC (XBRL)· 29 Apr 2025verified |
| Dividends paid | 218.0 bn | 102.1 bn | 274.1 bn | 158.3 bn | 65.6 bn | 81.8 bn | SEC (XBRL)· 29 Apr 2025verified |
≈ computed by olivLaw from the reported lines of the same year: Operating cash flow − Capex.
Computed indicators
Growth
Profitability
Returns
Balance sheet
Liquidity
Cash
Efficiency
Market and valuation
1 indicators that do not apply to the sector.
Valuation
olivLaw classification
- score weight coverage: 35.4% of at least 60%
A scoring methodology on indicators and valuation, not investment advice.
Closing price
04 Nov 2026Source: olivLaw, closing series
Market cap: unavailable
Price and reporting are in different currencies; market indicators are unavailable.
Key indicators
Coverage and freshness
The data is older than the freshness threshold.
Score by group
35% · Insufficient data
Estimated value range
unavailable — no valuation assumptions for the reporting currency
Valuation assumptions are editorial choices, not measured; beta is not measured.
Valuation methods
Classification (SIC) comparables group by industry code, not by economic activity; the direct group is an editorial selection by activity. Members' multiples are on their own trailing twelve months, at their own latest close.
Assumptions (illustrative, editorial)
- Risk-free rate
- 6.5%
- Equity risk premium
- 6.0%
- Beta (default)
- 1.00
- Cost of equity
- 12.5%
- Terminal growth
- 3.0%
Factor scorecard
Insufficient data
Minimum-evidence gate: score weight coverage: 35.4% of at least 60%
| Factor | Value | Score | Weight used |
|---|---|---|---|
| ROIC · Quality | unavailable | unavailable | — |
| Net margin · Quality | 6.1% | 50 (vs peers) | 18% |
| FCF conversion · Quality | 76.2% | 66 (on a fixed band) | 18% |
| Revenue CAGR 3Y · Growth | 5.3% | 45 (on a fixed band) | 24% |
| EPS CAGR 3Y · Growth | unavailable | unavailable | — |
| Net debt / EBITDA · Balance sheet | unavailable | unavailable | — |
| Interest coverage · Balance sheet | 2.7x | 19 (on a fixed band) | 18% |
| Current ratio · Balance sheet | 2.1x | 100 (on a fixed band) | 12% |
| P/E (TTM) · Valuation | unavailable | unavailable | — |
| EV/EBITDA · Valuation | unavailable | unavailable | — |
| FCF yield · Valuation | unavailable | unavailable | — |
| Shareholder yield (distributions) · Returns | unavailable | unavailable | — |
| Payout ratio (FCF) · Returns | 60.8% | 85 (on a fixed band) | 12% |
Factors without a value were dropped; the remaining weights were renormalised.
Score groups
- Balance sheet51/100 · 2/3 factors with a value
- Growth· partial45/100 · 1/2 factors with a value
- Quality58/100 · 2/3 factors with a value
- Returns· partial85/100 · 1/2 factors with a value
- Valuation· partialunavailable · 0/3 factors with a value
A «partial» group is computed from under half of its weight or from one factor: it is not a full assessment of the group.
Memo
UNITED BREWERIES CO INC (CCU). Latest full fiscal year: 2024; data up to 2024-12-31.
Figures computed from the financial statements: revenue 2,904.6 bn CLP in 2024; YoY growth 13.2%; net margin 6.1%; ROE 12.9%.
The estimated value range is 5,732.34–8,636.64 CLP per share (median of 2 methods, agreement: low); assumptions are illustrative. The range is the median of the methods' low, central and high values, not a probability interval.
Insufficient data for a verdict (score weight coverage: 35.4% of at least 60%).
Text generated deterministically from the figures shown; no language model. Not investment advice.
What supports the thesis
- Current ratio: 2.1x
- Payout ratio (FCF): 60.8%
What contradicts it
- Interest coverage: 2.7x
- The valuation methods diverge
Not assessed (insufficient data or a ratio without meaning): ROIC, EPS CAGR 3Y, Net debt / EBITDA, P/E (TTM), EV/EBITDA, FCF yield, Shareholder yield (distributions).
Versus the vertical median
Food products (SIC 208x) · same industry group (3-digit SIC) · compared with 31 companies
Multiples and returns vs the median
Price rebased to 100 (monthly, 5 years)
Companies in the vertical
| Market cap | P/E | ROE | Net margin | Revenue YoY | 1A / 3A | |
|---|---|---|---|---|---|---|
| KOCoca Cola Co | 412.1 bn | 28.2 | 42.6% | 28.7% | +1.9% | +31% / +64% |
| DEODIAGEO plc | 237.6 bn | 92.4 | 24.0% | 9.1% | +0.3% | +7% / −30% |
| PEPPepsico Inc | 194.1 bn | 18.7 | 50.1% | 10.8% | +2.3% | −4% / −15% |
| BUDAnheuser-Busch InBev SA | 150.4 bn | 24.7 | 8.3% | 11.5% | −0.7% | +36% / +33% |
| KDPKeurig Dr Pepper Inc. | 50.1 bn | 37.2 | 5.7% | 7.1% | +8.2% | +32% / +17% |
| MNSTMonster Beverage Corp | 47.8 bn | 22.4 | 25.7% | 23.1% | +10.7% | +30% / +77% |
| BF-ABrown Forman Corp | 14.9 bn | 20.3 | 18.1% | 18.4% | −1.2% | +10% / −48% |
| CELHCelsius Holdings, Inc. | 7.8 bn | 104.3 | 10.5% | 4.2% | +85.5% | −25% / −38% |
| PRMBPrimo Brands Corp | 7.6 bn | 79.4 | 3.2% | 1.5% | +29.3% | +34% / +46% |
| COCOThe Vita Coco Company, Inc. | 3.7 bn | 32.9 | 32.0% | 15.7% | +18.2% | +23% / +133% |
| FIZZNational Beverage Corp. | 3.5 bn | 20.2 | 40.1% | 14.8% | −1.7% | +11% / −21% |
| COKECoca-Cola Consolidated, Inc. | 1.5 bn | 2.5 | 90.0% | 7.5% | +4.8% | +25% / +178% |
| WESTWestrock Coffee Company | 1.0 bn | — | — | -4.9% | +39.8% | +138% / +13% |
| BUDABuda Juice, Inc. | 83.2 m | 34.5 | 19.3% | 17.1% | +11.8% | unavailable / unavailable |
| SRXHSRX Global Inc. | 18.0 m | — | -70.8% | -254.8% | −81.3% | −96% / −100% |
| REEDReed's, Inc. | 12.0 m | — | -14,800.0% | -63.5% | −10.2% | −80% / −92% |
| WVVIWillamette Valley Vineyards, Inc. | 8.3 m | — | -3.3% | -5.9% | −6.5% | −37% / −68% |
| YHCLQR House Inc. | 2.9 m | 0.2 | -88.2% | -1,589.2% | −37.4% | −98% / −100% |
| IPSTIp Strategy Holdings, Inc. | 2.3 m | — | -2,713.2% | -2,064.0% | +20.4% | −98% / unavailable |
| EDVAEndovia Health Sciences, Inc. | 1.2 m | — | — | -53,856.5% | −90.9% | −96% / −100% |
| BRCCBRC Inc. | 903.4 k | — | -14.2% | -1.5% | +1.7% | −23% / −77% |
| IBGInnovation Beverage Group Limited | 593.4 k | — | — | -223.4% | −5.1% | −94% / unavailable |
| SAMThe Boston Beer Company, Inc. | — | — | -8.9% | -3.8% | −2.4% | +17% / −36% |
| CCUUnited Breweries Co Inc | — | — | 12.9% | 6.1% | +13.2% | −13% / −7% |
| ZVIAZevia PBC | — | — | -18.0% | -4.8% | +4.0% | −55% / −44% |
1- and 3-year price returns: for CCU from daily closes (the same as the performance table), for the other companies from month-end closes.
olivLaw engine forecast
The world engine ran after the company's latest material disclosure. Probabilities are of TOUCHING a level within the horizon (not closing there) and sit next to the random walk (p_rw), the no-information benchmark.
The engine has no published run for this company yet.
Valuation scenarios (editable assumptions)
Illustrative scenarios
Scenarios are not available. input data missing
AI analysis
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
Possibly outdated: the newest document it read is from 29 Apr 2026; since then the company filed 6-K (04 Nov 2026), 6-K (03 Nov 2026), 6-K (06 Aug 2026), 6-K (05 Aug 2026), 6-K (05 Jun 2026), 6-K (29 May 2026).
In brief
Compañía Cervecerías Unidas S.A. is a Chilean beverage group active in beer, soft drinks, wine and spirits, with major operations in Chile and Argentina. For fiscal 2025 the group reported net sales of 2909.6 bn CLP and net income of 137.3 bn CLP, while its adjusted operating result declined under pressure from Argentina and the wine segment.
SWOT
Strengths
- Diversified portfolio of beer, soft drinks, wine and spirits, with a high share of proprietary brands and a leading position in Chile.
- Regional presence across several Latin American countries, which reduces dependence on a single economy.
- Long history of more than a century in production and an ability to innovate in new categories such as purified water and plastic recycling.
Weaknesses
- Strong dependence on the Chilean and Argentine economies, where inflation and price controls have compressed margins.
- Adjusted operating result declined in 2025, and the international and wine segments underperformed.
- Exposure to currency movements, since many raw materials are priced in foreign currencies.
Opportunities
- Volume growth through acquisitions and partnerships, such as those in Argentina and Paraguay, which could continue to support sales.
- Development of categories with health and well-being benefits, if the multi-category strategy meets demand.
- Use of the plastic recycling facilities, which could reduce costs linked to the PUSU law.
Threats
- Antitrust risks in Chile, where an unfavourable decision could bring fines and pressure on margins.
- Tighter rules on advertising, labelling and taxes for alcoholic beverages could reduce consumption.
- A possible downgrade of Chile's sovereign rating could raise the company's financing costs.
Risks
- Antitrust exposurehigh
An unfavourable outcome in the abuse of dominant position case, or failure to meet agreed commitments, could bring fines and costs to adjust commercial conditions.
- Argentine economic volatilityhigh
High inflation, currency devaluation and past exchange controls could weigh on Argentine profitability, especially if the modernisation process stalls.
- Raw material costsmedium
Prices of malt, sugar, packaging and recycled plastic are volatile, and a shortage of locally collected plastic could increase costs.
- Environmental and packaging rulesmedium
The PUSU law and the extended producer responsibility framework could impose additional costs for recycling and returnable systems.
- Shifts in consumer behaviourlow
Movement toward healthier lifestyles and competition from digital entertainment could reduce volumes in traditional categories.
Investment thesis
What would need to be true (bull case)
- If Chilean volumes keep growing and proprietary brands hold their share, the company could recover the operating margin lost in 2025.
- Integration of the Argentine and Paraguayan acquisitions could support revenue growth over the medium term if inflation stabilises.
- Leadership in Chile and experience in plastic recycling could give an advantage over competitors that must adapt to the PUSU law.
What would break the thesis
- If the Argentine economic situation remains difficult, the operating result of the international segment could fall further.
- An unfavourable antitrust decision in Chile could weigh on margins and reputation in the group's core market.
- Tighter restrictions on advertising and alcohol consumption could limit the ability to grow sales in traditional categories.
What to watch
- Volume trends and average prices in the Chile segmentQ1 2027
- Adjusted operating result of the international segment and Argentine economic stability2027
- Ruling of the antitrust court in the abuse of dominant position casenext 10-K
- Enforcement of the PUSU law and share of locally collected recycled plastic2027
Products, market & competition
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
Possibly outdated: the newest document it read is from 29 Apr 2026; since then the company filed 6-K (04 Nov 2026), 6-K (03 Nov 2026), 6-K (06 Aug 2026), 6-K (05 Aug 2026), 6-K (05 Jun 2026), 6-K (29 May 2026).
The business
CCU produces and sells beer, non-alcoholic beverages, mineral water, wine, pisco and rum in Chile, Argentina, Bolivia, Paraguay and Uruguay. The company operates through three main operating segments: Chile, International Business and Wine. According to the 20-F, about 70% of sales volume in 2025 came from proprietary brands, which reduces dependence on licensing agreements.
The company is controlled by IRSA, which held a direct and indirect 65.87% stake in March 2024, with IRSA equally owned by Quiñenco and Heineken Chile SpA. The shares have been listed on the NYSE as ADSs since 1999, which makes the 20-F filing relevant to US investors.
Chilean operations represented 64% of total revenues in 2025, while the international segment, dominated by Argentina, contributed 27%. The wine segment, covering Chile, Argentina and exports, contributed 10%, so the group remains highly sensitive to the Chilean and Argentine economies.
Segments
International Business
The segment covers Argentina, Bolivia, Paraguay and Uruguay, with beer, cider, non-alcoholic beverages, malt and spirits. Net sales fell 8.2% in 2025 even though volumes rose 23.0% thanks to the Aguas de Origen consolidation and the Paraguay partnership, while average CLP prices dropped 25.4%.
Market context
Market structure is changing as consumers increasingly look for health and well-being benefits, which may reduce consumption of some portfolio products. Labelling, advertising and tax rules for alcoholic and non-alcoholic beverages can also reshape demand in these markets.
Trends
- Lifestyle and consumption shiftsheadwind
Competition for free time is rising and preferences for health and well-being could reduce consumption of some categories. The company responds with a multi-category beverage strategy.
- Argentine economymixed
Stabilisation and modernisation of the Argentine regulatory framework could support results if demand and price controls improve, but the complex economic context has reduced beer volumes.
- Circular economy and the PUSU lawmixed
The PUSU law requires disposable plastic bottles to contain at least 15% locally collected recycled plastic from 2025, and the company built a recycling plant. These obligations could raise costs or create an advantage if local supply works.
- Alcohol advertising rulesheadwind
Chile's Law No. 21,363 restricts advertising and labelling of alcoholic beverages, which could reduce marketing effectiveness and consumption of beer and wine.
Competitive position
The company is the market leader in Chile and has been sued by a competitor for alleged abuse of dominant position in the on-premise beer market. The antitrust court has not yet issued a ruling, and the commitments already agreed may influence commercial conditions.
In the other countries, the main competitive risk is that players with high market shares could abuse their dominant position, which could create barriers to entry and pressure on commercial terms.
- Heineken
Indirect shareholder of the group through Heineken Chile SpA and a trademark licensor for certain beer brands in Uruguay.
- Anheuser-Busch InBev
Historical partner through the licence for Budweiser beer in Argentina, with production and distribution rights that expired in 2025.
- Nestlé
Partner in Aguas CCU-Nestlé Chile, which produces bottled water, and co-owner of the Nestlé Pure Life brand in Chile.
- Pernod Ricard
Competitor and distributor of spirits brands through the company's pisco and rum partners in Chile.
Links, dependencies and risks
Who the company is tied to, from its own SEC filings (customers, suppliers, production, partners, competitors, countries, regulation), from the 5 %+ holders' statements (13D/13G) and from what other companies say about it. Click a node for its evidence; on a listed company the graph moves to it.
Loading the links…
News & filings
In the press
No news in our archive over the last 180 days.
SEC filings
- Current report (foreign issuer)04 Nov 2026
- Current report (foreign issuer)03 Nov 2026
- Current report (foreign issuer)06 Aug 2026
- Current report (foreign issuer)05 Aug 2026
- Current report (foreign issuer)05 Jun 2026
- Current report (foreign issuer)29 May 2026
- Current report (foreign issuer)07 May 2026
- Current report (foreign issuer)07 May 2026
- Annual report (foreign issuer)29 Apr 2026
- Current report (foreign issuer)16 Apr 2026
Sources
- [1] Form 20-F, fiscal year ended 2025-12-31 · SEC / Compañía Cervecerías Unidas S.A. · 29 Apr 2026
Figures computed by olivLaw from SEC filings and closing prices; the qualitative analysis is AI-generated from cited sources. Not investment advice.