Andina Bottling Co Inc 6-K, filed May 14, 2021

Andina Bottling Co Inc (AKO-A)

6-K 2021-05-14 For: 2021-05-14

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Added on April 04, 2026

About this 6-K

Andina Bottling Co Inc filed this 6-K on May 14, 2021.

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	Consolidated Interim Financial Statements

	EMBOTELLADORA ANDINA S.A. AND SUBSIDIARIES

	Santiago, Chile
	March 31, 2021 and as of December 31, 2020

I.	Interim Consolidated Statements of Financial Position as of March 31, 2021 (unaudited) and December 31, 2020	1

II.	Interim Consolidated Statements of Income by Function (unaudited)	3

III.	Interim Consolidated Statements of Comprehensive Income (unaudited)	4

IV.	Interim Consolidated Statements of Changes in Equity (unaudited)	5

V.	Interim Consolidated Statements of Direct Cash Flows (unaudited)	6

VI.	Notes to the Interim Consolidated Financial Statements (unaudited)

1	–	CORPORATE INFORMATION	7
2	–	BASIS OF PREPARATION OF CONSOLIDATED FINANCIAL STATEMENTS AND APPLICATION OF ACCOUNTING CRITERIA	8
3	–	FINANCIAL REPORTING BY SEGMENT	28
4	–	CASH AND CASH EQUIVALENTS	31
5	–	OTHER FINANCIAL ASSETS, CURRENT AND NON-CURRENT	31
6	–	OTHER NON-FINANCIAL ASSETS, CURRENT AND NON-CURRENT	32
7	–	TRADE DEBTORS AND OTHER ACCOUNTS RECIEVABLE	33
8	–	INVENTORY	34
9	–	TAX ASSETS AND LIABILITIES	34
10	–	INCOME TAX AND DEFERRED TAXES	35
11	–	PROPERTY, PLANT AND EQUIPMENT	38
12	–	RELATED PARTIES	41
13	–	EMPLOYEE BENEFITS, CURRENT AND NON-CURRENT	43
14	–	INVESTMENTS ACCOUNTED FOR USING THE EQUITY METHOD	44
15	–	INTANGIBLE ASSETS OTHER THAN GOODWILL	46
16	–	GOODWILL	47
17	–	OTHER FINANCIAL LIABILITIES, CURRENT AND NON-CURRENT	48
18	–	TRADE ACCOUNTS PAYABLE AND OTHER ACCOUNTS PAYABLE	57
19	–	OTHER PROVISIONS, CURRENT AND NON-CURRENT	57
20	–	OTHER NON-FINANCIAL LIABILITIES	58
21	–	EQUITY	58
22	–	ASSETS AND LIABILITIES FOR DERIVATIVE INSTRUMENTS	61
23	–	LITIGATIONS AND CONTINGENCIES	64
24	–	FINANCIAL RISK MANAGEMENT	68
25	–	EXPENSES BY NATURE	73
26	–	OTHER INCOME	73
27	–	OTHER EXPENSES BY FUNCTION	74
28	–	INCOME AND FINANCIAL COSTS	74
29	–	OTHER (LOSS) GAINS	74
30	–	LOCAL AND FOREIGN CURRENCY	75
31	–	ENVIRONMENT	79
32	–	SUBSEQUENT EVENTS	79

	NOTE		03.31.2021		12.31.2020
ASSETS			CLP (000’s)		CLP (000’s)
Current assets:

Cash and cash equivalents		4		208,294,736		309,530,699
Other financial assets		5		221,858,127		140,304,853
Other non-financial assets		6		14,189,580		13,374,381
Trade and other accounts receivable, net		7		177,000,344		194,021,253
Accounts receivable from related companies		12.1		12,890,237		11,875,408
Inventory		8		137,599,780		127,972,650
Current tax assets		9		1,120,999		218,472
Total Current Assets				772,953,803		797,297,716

Non-Current Assets:
Other financial assets		5		187,809,389		162,013,278
Other non-financial assets		6		77,219,385		90,242,672
Trade and other receivables		7		79,694		73,862
Accounts receivable from related parties		12.1		138,375		138,346
Investments accounted for under the equity method		14		86,057,949		87,956,354
Intangible assets other than goodwill		15		611,119,834		604,514,165
Goodwill		16		96,002,213		98,325,593
Property, plant and equipment		11		596,843,055		605,576,545
Deferred tax assets		10.2		1,872,571		1,925,869
Total Non-Current Assets				1,657,142,465		1,650,766,684

Total Assets				2,430,096,268		2,448,064,400

	NOTE		03.31.2021			12.31.2020
LIABILITIES AND EQUITY			CLP (000’s)			CLP (000’s)
LIABILITIES
Current Liabilities
Other financial liabilities		17		34,915,138			38,566,724
Trade and other accounts payable		18		206,054,007			230,445,809
Accounts payable to related parties		12.2		24,478,246			39,541,968
Other provisions		19		1,569,097			1,335,337
Tax liabilities		9		15,062,153			8,828,599
Employee benefits current provisions		13		18,159,825			31,071,019
Other non-financial liabilities		20		2,673,230			28,266,730
Total Current Liabilities				302,911,696			378,056,186

Other financial liabilities, non-current		17		995,942,662			989,829,569
Accounts payable, non-current		18		307,271			295,279
Accounts payable to related companies, non-current		12.2		9,992,480			10,790,089
Other provisions, non-current		19		46,397,550			48,734,936
Deferred tax liabilities		10.2		149,798,423			153,669,547
Employee benefits non-current provisions		13		14,424,295			13,635,558
Other non-financial liabilities, non-current		20		19,843,056			21,472,048
Tax liabilities, non-current		9		-			20,597
Total Non-current liabilities				1,236,705,737			1,238,447,623

EQUITY		21
Issued capital				270,737,574			270,737,574
Retained earnings				712,643,006			654,171,126
Other reserves				(115,068,163	)		(113,727,586	)
Equity attributable to equity holders of the parent				868,312,417			811,181,114
Non-controlling interests				22,166,418			20,379,477
Total Equity				890,478,835			831,560,591
Total Liabilities and Equity				2,430,096,268			2,448,064,400

			01.01.2021			01.01.2020
	NOTE		03.31.2021			03.31.2020
			CLP (000’s)			CLP (000’s)
Net sales				509,007,243			504,614,612
Cost of sales		8 - 25		(308,951,272	)		(292,631,142	)
Gross Profit				200,055,971			211,983,470
Other income		26		229,643			597,542
Distribution expenses		25		(43,052,817	)		(45,964,550	)
Administrative expenses		25		(77,897,343	)		(90,062,360	)
Other expenses		27		(3,471,138	)		(3,518,974	)
Other (loss) gains		29		-			855
Financial income		28		3,814,467			2,111,748
Financial expenses		28		(12,887,291	)		(12,394,064	)
Share of profit (loss) of investments in associates and joint ventures accounted for using the equity method		14.3		668,107			1,035,394
Foreign exchange differences				121,659			(799,501	)
Income by indexation units				(4,860,353	)		(6,378,331	)
Net income before income taxes				62,720,905			56,611,229
Income tax expense		10.1		(19,382,007	)		(7,622,492	)
Net income				43,338,898			48,988,737


Net income attributable to
Owners of the controller				42,119,137			47,990,518
Non-controlling interests				1,219,761			998,219
Net income				43,338,898			48,988,737

Earnings per Share, basic and diluted in ongoing operations				CLP			CLP
Earnings per Series A Share		21.5		42.38			48.29
Earnings per Series B Share		21.5		46.62			53.11

			Other reserves
	Issued Capital		Reserves for exchange rate differences			Cash Flow hedge reserve			Actuarial gains or losses in employee benefits			Other reserves		Total other reserves			Retained earnings		Controlling equity			Non-controlling interests		Total Equity
	CLP (000’s)		CLP (000’s)			CLP (000’s)			CLP (000’s)			CLP (000’s)		CLP (000’s)			CLP (000’s)		CLP (000’s)			CLP (000’s)		CLP (000’s)
Opening balance as of 01.01.2021		270,737,574		(517,496,486	)		(24,719,533	)		(4,663,193	)		433,151,626		(113,727,586	)		654,171,126		811,181,114			20,379,477		831,560,591
Changes in equity
Comprehensive income
Earnings		-		-			-			-			-		-			42,119,137		42,119,137			1,219,761		43.338.898
Other comprehensive income		-		(6,122,645	)		5,505,199			(723,131	)		-		(1,340,577	)		-		(1,340,577	)		567,180		(773.397	)
Comprehensive income		-		(6,122,645	)		5,505,199			(723,131	)		-		(1,340,577	)				40,778,560			1,786,941		42.565.501
Dividends		-		-			-			-			-		-								-
Increase (decrease) from other changes		-		-			-			-			-		-			16,352,743		16,352,743			-		16,352,743
Total Changes in equity		-		(6,122,645	)		5,505,199			(723,131	)		-		(1,340,577	)		58,471,880		57,131,303			1,786,941		58,918,244

Ending balance as of 03.31.2021		270,737,574		(523,619,131	)		(19,214,334	)		(5,386,324	)		433,151,626		(115,068,163	)		712,643,006		868,312,417			22,166,418		890,478,835

			01.01.2021			01.01.2020
Cash flows provided by (used in) Operating Activities	NOTE		03.31.2021			03.31.2020
Cash flows provided by Operating Activities				CLP (000’s)			CLP (000’s)
Receipts from the sale of goods and the rendering of services (including taxes)				707,559,116			744,324,530
Payments for Operating Activities
Payments to suppliers for goods and services (including taxes)				(519,235,812	)		(500,259,388	)
Payments to and on behalf of employees				(58,079,733	)		(64,198,477	)
Other payments for operating activities (value-added taxes on purchases, sales and others)				(75,964,831	)		(98,933,698	)
Dividends received
Interest payments				(20,520,161	)		(18,203,609	)
Interest received				3,011,614			1,646,393
Income tax payments				(11,075,920	)		(14,579,451	)
Other cash movements (tax on bank debits Argentina and others)				(1,370,361	)		(1,270,447	)
Cash flows provided by (used in) Operating Activities				24,323,912			48,525,853

Cash flows provided by (used in) Investing Activities
Proceeds from sale of Property, plant and equipment				3,089			-
Purchase of Property, plant and equipment				(13,367,344	)		(30,212,523	)
Purchase of intangible assets				-			-
Proceeds from other long term assets (withdrawal of time-deposits at 90 days or longer term)				-			-
Payments on forward, term, option and financial exchange agreements				18,956			-
Collection on forward, term, option and financial exchange agreements				100,937			3,493,069
Other payments on the purchase of financial instruments				(80,463,998	)		(30,747	)
Net cash flows used in Investing Activities				(93,708,360	)		(26,750,201	)

Cash Flows generated from (used in) Financing Activities
Proceeds from short term loans
Payments of loans				(5,280	)		(1,306,019	)
Lease liability payments				(827,263	)		(988,415	)
Dividend payments by the reporting entity				(25,841,367	)		(22,471,139	)
Other inflows (outflows) of cash (Placement and payment of public obligations)				(4,308,860	)		225,028,027
Net cash flows (used in) generated by Financing Activities				(30,982,770	)		200,262,454
Net increase in cash and cash equivalents before exchange differences				(100,367,218	)		222,038,106
Effects of exchange differences on cash and cash equivalents				(66,167	)		1,294,477
Effects of inflation in cash and cash equivalents in Argentina				(802,578	)		1,244,270
Net increase (decrease) in cash and cash equivalents				(101,235,963	)		224,576,853
Cash and cash equivalents – beginning of period		4		309,530,699			157,567,986
Cash and cash equivalents - end of period		4		208,294,736			382,144,839

		Ownership interest
		03.31.2021					12.31.2020
Taxpayer ID	Company Name	Direct	Indirect		Total		Direct		Indirect		Total
59.144.140-K	Abisa Corp S.A.	-		99.99		99.99		-		99.99		99.99
Foreign	Aconcagua Investing Ltda.	0.70		99.28		99.98		0.70		99.28		99.98
96.842.970-1	Andina Bottling Investments S.A.	99.9		0.09		99.99		99.9		0.09		99.99
96.972.760-9	Andina Bottling Investments Dos S.A.	99.9		0.09		99.99		99.9		0.09		99.99
Foreign	Andina Empaques Argentina S.A.	-		99.98		99.98		-		99.98		99.98
96.836.750-1	Andina Inversiones Societarias S.A.	99.98		0.01		99.99		99.98		0.01		99.99
76.070.406-7	Embotelladora Andina Chile S.A.	99.99		-		99.99		99.99		-		99.99
Foreign	Embotelladora del Atlántico S.A.	0.92		99.07		99.99		0.92		99.07		99.99
96.705.990-0	Envases Central S.A.	59.27		-		59.27		59.27		-		59.27
Foreign	Paraguay Refrescos S.A.	0.08		97.75		97.83		0.08		97.75		97.83
76.276.604-3	Red de Transportes Comerciales Ltda.	99.9		0.09		99.99		99.9		0.09		99.99
Foreign	Rio de Janeiro Refrescos Ltda.	-		99.99		99.99		-		99.99		99.99
78.536.950-5	Servicios Multivending Ltda.	99.9		0.09		99.99		99.9		0.09		99.99
78.861.790-9	Transportes Andina Refrescos Ltda.	99.9		0.09		99.99		99.9		0.09		99.99
96.928.520-7	Transportes Polar S.A.	99.99		-		99.99		99.99		-		99.99
76.389.720-6	Vital Aguas S.A.	66.50		-		66.50		66.50		-		66.50
93.899.000-k	Vital Jugos S.A.	15.00		50.00		65.00		15.00		50.00		65.00

Company	Functional Currency
Embotelladora del Atlántico	Argentine Peso (ARS)
Embotelladora Andina	Chilean Peso (CLP)
Paraguay Refrescos	Paraguayan Guaraní (PYG)
Rio de Janeiro Refrescos	Brazil Real (BRL)

Date	USD		BRL		ARS		PYG
03.31.2021		721.82		126.69		7.85		0.114
12.31.2020		710.95		136.80		8.44		0.103
03.31.2020		852.03		163.85		13.22		0.129

Assets			Range in years
Buildings			15-80
Plant and equipment			5-20
Warehouse installations and accessories			10-50
Furniture and supplies			4-5
Motor vehicles			4-10
Other Property, plant and equipment			3-10
Bottles and containers			2-5

	-	Operation in Brazil (State of Rio de Janeiro and Espirito Santo, Ipiranga territories, investment in the Sorocaba associate and investment in the Leão Alimentos S.A. associate);

	-	Discount Rate: Increase / Decrease of up to 100 bps as a value in the rate at which future cash flows are discounted to bring them to present value

	-	Perpetuity: Increase / Decrease of up to 75 bps in the rate to calculate the perpetual growth of future cash flows

	-	Operation in Chile;

	-	Operation in Argentina;

		Amendments		Application date
IFRS 16		COVID-19-Related Rent Concessions		January 1, 2021

		Standards and Interpretations		Mandator y application date
IFRS 17		Insurance Contracts		January 1, 2023

	Amendments	Date of application
IFRS 9, IAS 39, IFRS 7, IFRS 4 and IFRS 16	Interest Rate Benchmark Reform—Phase 2	January 1, 2023
IAS 1	Classification of liabilities as current or non-current	January 1, 2023
IFRS 3	Reference to the Conceptual Framework	January 1, 2022
IAS 16	Property, Plant and Equipment — Proceeds before Intended Use	January 1, 2022
IAS 37	Onerous Contracts—Cost of Fulfilling a Contract	January 1, 2022
IFRS 10 and IAS 28	Consolidated Financial Statements - sale or contribution of assets between an investor and its associate or joint venture	To be determined

For the period ended March 31, 2021	Operation in Chile			Operation in Argentina			Operation in Brazil			Operation in Paraguay			Inter-country eliminations			Consolidated, total
	CLP (000’s)			CLP (000’s)			CLP (000’s)			CLP (000’s)			CLP (000’s)			CLP (000’s)
Net sales		229,439,220			102,591,906			136,815,401			40,725,014			(564,298	)		509,007,243
Cost of sales		(144,529,047	)		(51,638,750	)		(92,071,911	)		(21,275,862	)		564,298			(308,951,272	)
Distribution expenses		(18,634,220	)		(14,492,976	)		(7,659,689	)		(2,265,932	)		-			(43,052,817	)
Administrative expenses		(34,299,012	)		(19,568,144	)		(18,101,911	)		(5,928,276	)		-			(77,897,343	)
Financial income		1,876,543			1,085,816			758,306			93,802			-			3,814,467
Financial costs		(7,005,052	)		(96,245	)		(5,785,994	)		-			-			(12,887,291	)
Net financial costs (*)		(5,128,509	)		989,571			(5,027,688	)		93,802			-			(9,072,824	)
Share of entity in income of associates accounted for using the equity method, total		517,693			-			150,414			-			-			668,107
Income tax expense		(8,107,062	)		(6,033,479	)		(4,046,039	)		(1,195,427	)		-			(19,382,007	)
Oher income (expenses)		(4,310,671	)		(2,116,539	)		(2,288,231	)		735,252			-			(7,980,189	)
Net income of the segment reported		14,948,392			9,731,589			7,770,346			10,888,571			-			43,338,898

Depreciation and amortization		9,605,166			5,462,853			5,370,630			2,380,083			-			22,818,732

Current assets		505,959,382			71,656,841			133,476,775			61,860,805			-			772,953,803
Non-current assets		642,148,490			150,696,315			614,854,255			249,443,405						1,657,142,465
Segment assets, total		1,148,107,872			222,353,156			748,331,030			311,304,210			-			2,430,096,268

Carrying amount in associates and joint ventures accounted for using the equity method, total		51,339,445			-			34,718,504			-			-			86,057,949

Segment disbursements of non-monetary assets		1,716,644			5,693,472			3,445,796			2,511,432			-			13,367,344

Current liabilities		159,781,068			50,481,727			66,241,192			26,407,709			-			302,911,696
Non-current liabilities		746,861,687			11,502,025			462,419,332			15,922,693			-			1,236,705,737
Segment liabilities, total		906,642,755			61,983,752			528,660,524			42,330,402			-			1,539,617,433

Cash flows (used in) provided by in Operating Activities		2,426,113			8,085,253			(2,188,711	)		16,001,257			-			24,323,912
Cash flows (used in) provided by Investing Activities		(82,057,660	)		(5,693,472	)		(3,445,796	)		(2,511,432	)		-			(93,708,360	)
Cash flows (used in) provided by Financing Activities		(30,102,749	)		(170,994	)		(602,792	)		(106,235	)		-			(30,982,770	)

For the period ended March 31, 2020	Operation in Chile			Operation in Argentina			Operation in Brazil			Operation in Paraguay			Inter-country eliminations			Consolidated, total
	CLP (000’s)			CLP (000’s)			CLP (000’s)			CLP (000’s)			CLP (000’s)			CLP (000’s)
Net sales		174,452,377			114,674,675			170,270,414			46,086,003			(868,857	)		504,614,612
Cost of sales		(101,040,630	)		(57,873,361	)		(109,992,850	)		(24,593,158	)		868,857			(292,631,142	)
Distribution expenses		(16,698,548	)		(15,539,806	)		(11,229,206	)		(2,496,990	)		-			(45,964,550	)
Administrative expenses		(32,109,430	)		(23,382,672	)		(27,512,844	)		(7,057,414	)		-			(90,062,360	)
Financial income		1,150,486			491,193			441,509			28,560			-			2,111,748
Financial costs		(4,592,045	)		(103,002	)		(7,699,017	)		-			-			(12,394,064	)
Net financial costs (*)		(3,441,559	)		388,191			(7,257,508	)		28,560			-			(10,282,316	)
Share of entity in income of associates accounted for using the equity method, total		852,986			-			182,408			-			-			1,035,394
Income tax expense		2,402,183			(5,880,796	)		(3,088,297	)		(1,055,582	)		-			(7,622,492	)
Oher income (expenses)		(2,791,636	)		(4,978,611	)		(2,209,420	)		(118,742	)		-			(10,098,409	)
Net income of the segment reported		21,625,743			7,407,620			9,162,697			10,792,677			-			48,988,737

Depreciation and amortization		10,816,949			6,940,502			7,723,520			2,521,870			-			28,002,841

Current assets		475,399,900			65,905,710			135,272,684			53,103,021			-			729,681,315
Non-current assets		657,908,435			185,391,958			780,662,815			277,002,870			-			1,900,966,078
Segment assets, total		1,133,308,335			251,297,668			915,935,499			330,105,891			-			2,630,647,393

Carrying amount in associates and joint ventures accounted for using the equity method, total		51,190,176			-			44,413,060			-			-			95,603,236

Segment disbursements of non-monetary assets		16,638,455			5,316,975			3,804,654			4,452,439			-			30,212,523

Current liabilities		156,312,550			62,001,521			80,855,485			23,883,749			-			323,053,305
Non-current liabilities		716,976,449			15,367,073			540,246,957			17,951,123			-			1,290,541,602
Segment liabilities, total		873,288,999			77,368,594			621,102,442			41,834,872			-			1,613,594,907

Cash flows (used in) provided by in Operating Activities		32,124,708			3,898,816			(1,052,707	)		13,555,036			-			48,525,853
Cash flows (used in) provided by Investing Activities		(13,176,133	)		(5,316,975	)		(3,804,654	)		(4,452,439	)		-			(26,750,201	)
Cash flows (used in) provided by Financing Activities		202,337,658			(242,375	)		(1,719,113	)		(113,716	)		-			200,262,454

By item	03.31.2021		12.31.2020
	CLP (000’s)		CLP (000’s)
Cash		308,570		339,628
Bank balances		78,469,851		82,997,449
Othe fixed rate instruments		129,516,315		226,193,622
Cash and cash equivalents		208,294,736		309,530,699

By currency	03.31.2021		12.31.2020
	CLP (000’s)		CLP (000’s)
USD		10,663,983		21,332,268
EUR		496,957		223,449
ARS		16,250,172		14,821,502
CLP		102,403,973		201,936,140
PYG		38,574,100		21,688,915
BRL		39,905,551		49,528,425
Cash and cash equivalents		208,294,736		309,530,699

	Balance
	Current				Non-current
Other financial assets	03.31.2021		12.31.2020		03.31.2021		12.31.2020
	CLP (000’s)		CLP (000’s)		CLP (000’s)		CLP (000’s)
Financial assets measured at amortized cost (1)		221,124,268		140,304,853		1,216,864		1,216,865
Financial assets at fair value (2)		733,859		-		176,458,121		150,983,295
Other financial assets measured at amortized cost (3)		-		-		10,134,404		9,813,118
Total		221,858,127		140,304,853		187,809,389		162,013,278

	Balance
Current trade debtors without impairment impact	03.31.2021		12.31.2020
	CLP (000’s)		CLP (000’s)
Less than one month		126,101,492		147,177,119
Between one and three months		4,709,017		2,230,594
Between three and six months		2,094,675		1,708,015
Between six and eight months		263,411		509,855
Older than eight months		2,544,684		3,006,533
Total		135,713,279		154,632,116

Details	03.31.2021			12.31.2020
	CLP (000’s)			CLP (000’s)
Raw materials (1)		90,628,620			80,902,721
Finished goods		28,410,163			27,556,884
Spare parts and supplies		18,097,429			19,592,377
Work in progress		105,440			76,577
Other inventories		3,238,206			3,101,016
Obsolescence provision (2)		(2,880,078	)		(3,256,925	)
Total		137,599,780			127,972,650

Tax assets	03.31.2021		12.31.2020
	CLP (000’s)		CLP (000’s)
Tax credits (1)		1,120,999		218,472
Total		1,120,999		218,472

Income taxes	03.31.2021			03.31.2020
	CLP (000’s)			CLP (000’s)
Current taxes
Foreign		(11,946,550	)		(14,302,003	)
National		(8,004,581	)		(2,938,508	)
Current tax expense		(19,951,131	)		(17,240,511	)
Deferred taxes
Foreign		671,606			4,277,328
National		(102,482	)		5,340,691
Deferred tax expense		569,124			9,618,019
Income tax expense		(19,382,007	)		(7,622,492	)

Reconciliation of effective rate	03.31.2021			03.31.2020
	CLP (000’s)			CLP (000’s)
Net income before taxes		62,720,905			56,611,229
Tax expense at legal rate (27.0%)		(16,934,644	)		(15,285,032	)
Effect of tax rate in other jurisdictions		747,006			753,388
Permanent differences:
Non-taxable revenues		7,107,504			4,992,486
Non-deductible expenses		(699,910	)		512,065
Tax effect on excess tax provision in previous periods		(2,042	)		199,870
Effect of monetary tax restatement Chilean companies		(2,642,576	)		(2,491,749	)
Subsidiaries tax withholding expense and other legal tax debits and credits		(6,957,345	)		3,696,480
Adjustments to tax expense		(3,194,369	)		6,909,152
Tax expense at effective rate		(19,382,007	)		(7,622,492	)
Effective rate		30.9	%		13.5	%

	Rate
Country	2021			2020
Chile		27.0	%		27.0	%
Brazil		34.0	%		34.0	%
Argentina		30.0	%		30.0	%
Paraguay		10.0	%		10.0	%

	03.31.2021				12.31.2020
Temporary differences	Assets		Liabilities		Assets		Liabilities
		CLP (000’s)		CLP (000’s)		CLP (000’s)		CLP (000’s)
Property, plant and equipment		5,530,320		39,180,897		5,421,466		39,544,960
Obsolescence provision		1,254,997		-		1,340,235		-
ICMS exclusion credit		-		14,598,043		-		17,679,221
Employee benefits		1,570,418		-		4,475,497		18,300
Post-employment benefits		197,312		-		150,027		101,339
Tax loss carry forwards (1)		4,904,155		-		6,423,820		-
Tax goodwill Brazil		809,458		-		2,080,987		-
Contingency provision		23,134,324		-		24,103,234		-
Foreign Exchange differences (2)		8,031,050		-		8,116,713		-
Allowance for doubtful accounts		918,918		-		915,562		-
Assets and liabilities for placement of bonds		370,184		2,326,102		378,901		2,377,870
Lease liabilities		1,336,269		-		1,528,990		-
Inventories		515,643		-		469,416		-
Distribution rights		-		142,403,278		-		144,151,661
Hedging derivatives		-		-		-		-
Others		8,182,874		6,173,454		3,785,655		7,060,830
Subtotal		56,755,922		204,681,774		59,190,503		210,934,181
Total assets and liabilities net		1,872,571		149,798,423		1,925,869		153,669,547

Movement	03.31.2021			12.31.2020
	CLP (000’s)			CLP (000’s)
Opening balance		151,743,678			168,085,407
Increase (decrease) in deferred tax		(1,809,325	)		4,411,619
Increase (decrease) due to foreign currency translation		(2,008,502	)		(20,753,348	)
Total movements		(3,817,826	)		(16,341,729	)
Ending balance		147,925,852			151,743,678

Property, plant and equipment, gross	03.31.2021		12.31.2020
	CLP (000’s)		CLP (000’s)
Construction in progress		32,314,893		34,194,083
Land		93,504,811		94,321,726
Buildings		264,051,825		266,921,167
Plant and equipment		513,311,769		515,395,328
Information technology equipment		24,660,919		24,323,557
Fixed installations and accessories		51,666,258		45,558,495
Vehicles		45,147,627		45,808,748
Leasehold improvements		243,301		203,164
Rights of use (1)		55,054,473		56,726,206
Other properties, plant and equipment (2)		324,392,222		314,602,940
Total Property, plant and equipment, gross		1,404,348,098		1,398,055,414

Accumulated depreciation of Property, plant and equipment	03.31.2021			12.31.2020
	CLP (000’s)			CLP (000’s)
Buildings		(86,375,145	)		(86,004,289	)
Plant and equipment		(372,269,040	)		(369,605,125	)
Information technology equipment		(20,150,077	)		(19,445,250	)
Fixed installations and accessories		(29,396,186	)		(27,910,603	)
Vehicles		(29,269,442	)		(29,397,964	)
Leasehold improvements		(137,793	)		(144,022	)
Rights of use (1)		(35,096,440	)		(35,388,929	)
Other properties, plant and equipment (2)		(234,810,920	)		(224,582,687	)
Total accumulated depreciation		(807,505,043	)		(792,478,869	)
Total Property, plant and equipment, net		596,843,055			605,576,545

Other Property, plant and equipment, net	03.31.2021		12.31.2020
	CLP (000’s)		CLP (000’s)
Bottles		29,762,840		30,275,255
Marketing and promotional assets (market assets)		43,623,350		44,106,959
Other Property, plant and equipment		16,195,112		15,638,039
Total		89,581,302		90,020,253

	Construction in progress			Land			Buildings, net			Plant and equipment, net			IT equipment, net			Fixed facilities and accessories, net			Vehicles, net			Leasehold improvements, net			Others			Rights-of-use, net (1)			Property, plant and equipment, net
	CLP (000’s)			CLP (000’s)			CLP (000’s)			CLP (000’s)			CLP (000’s)			CLP (000’s)			CLP (000’s)			CLP (000’s)			CLP (000’s)			CLP (000’s)			CLP (000’s)
Opening balance at 01.01.2021		34,194,083			94,321,726			180,916,878			145,790,203			4,878,307			17,647,892			16,410,784			59,142			90,020,253			21,337,277			605,576,545
Additions		6,819,106			-			(748	)		1,574,526			12,554			-			6,217			8,738			7,370,391			-			15,790,784
Right-of use additions (1)		-			-			-			-			-			-			-			-			-			1,077,932			1,077,932
Disposals		-			-			(11,741	)		(199,836	)		-						-			-			(728,642	)		-			(940,219	)
Transfers between items of Property, plant and equipment		(4,219,397	)		-			863,898			256,356			53,619			76,079			1,061,016			53,037			1,855,392			-			-
Right-of-use transfers		-			-			-			-			-			-			-			-			-			-			-
Depreciation expense		-			-			(1,338,720	)		(7,005,251	)		(527,485	)		(951,031	)		(1,230,582	)		(9,566	)		(9,439,054	)					(20,572,292	)
Amortization																													(1,741,759	)		(1,741,759	)
Increase (decrease) due to foreign currency translation differences		795,692			(816,915	)		(2,776,191	)		(107,356	)		93,987			250,640			(311,584	)		(5,708	)		1,336,588			(714,089	)		(2,184,333	)
Other increase (decrease) (2)		(5,274,591	)		-			23,304			734,087			(140	)		5,246,492			(57,666	)		(135	)		(833,626	)		(1,328	)		(163,603	)
Total movements		(1,879,190	)		(816,915	)		(3,240,198	)		(4,747,474	)		(367,465	)		4,622,180			(532,599	)		46,366			(438,951	)		(1,379,244	)		(8,733,490	)
Ending balance al 03.31.2021		32,314,893			93,504,811			177,676,680			141,042,729			4,510,842			22,270,072			15,878,185			105,508			89,581,302			19,958,033			596,843,055