Slides
Page 1
Coca-Cola Andina Corporate Presentation CORPORATE PRESENTATION 1Q25
Page 2
AGENDA Our Company Market Description Our Strategy What Makes Us Unique? Financial Highlights
Page 3
Coca-Cola Andina Investor Presentation – Swiss Market Coca-Cola Andina at a Glance (FY 2024)Our Company Source: Company filings and public releases 1 This information includes Embotelladora Andina S.A. and its main subsidiaries (Coca-Cola Andina Argentina, Coca-Cola Andina Brazil, Coca-Cola Andina Chile and Paresa). Except for % women which also includes Holding, Empaques Argentina S.A., VJ S.A., Vital Aguas S.A., Envases Central S.A. and Re-Ciclar S.A. LARGEST BOTTLER in Chile and Paraguay, 2ND LARGEST in Argentina and 3RD LARGEST in Brazil 95 DISTRIBUTION CENTERS +271,000 CLIENTS MORE THAN 17,000 EMPLOYEES 57.8 MILLION CONSUMERS The Company 16 PRODUCTION FACILITIES CMF (Chilean Regulator) Local Shares and Bonds SEC (US Regulator) ADR’s NYSE and 144A/REGS Bonds 3 47.45 KILOCALORIES sold every 200 ml. 1.64 LITERS OF WATER consumed per liter of beverage produced 27.7% Sales volumen RETURNABLE PACKAGING (on NARTD) 0.321 MEGAJOULES OF ENERGY consumed per liter of beverage produced 17.4% WOMEN ESG Metrics1 909 MILLION UNIT CASES (~5,100 MILLION LITERS) VOLUME ~3,300 MILLION DOLLARS REVENUES ~605 MILLION DOLLARS EBITDA ~244 MILLON DOLLARS NET INCOME LEVERAGE 1.2x Net Financial Debt / Adj. EBITDA (12M) Key Financials INVESTMENT GRADE RATING BBB+ Fitch Ratings Int. Baa1 Moody’s 44.9% OF ENERGY consumed from renewable sources 21.4% OF RECLYCLED RESIN used to produce PET bottles (on Total PET OW)
Page 4
Coca-Cola Andina Corporate Presentation 1946 Andina becomes the Coca-Cola bottler in Chile Andina listed on the NYSE. Franchise acquired in Brazil 1994 TCCC acquires 11% of Andina 1996 Coca-Cola System joint venture (50/50) for the water and juice business in Brazil and Chile 2007-2008 Merger with KO Polar (incorporation of new territories in Argentina, Chile & Paraguay). Andina buys 40% stake in Sorocaba Refrescos. 2012 During April we began distributing AdeS products, reinforcing the growth trend of new categories. 2017 Agreement for distributing Pisco Capel products in Chile 2019 Agreement to commercialize and distribute Viña Santa Rita products in Chile, and Estrella Galicia in Brazil 2021 Controlling Shareholders acquire 50 % of the Company 1985 Franchise acquired in Argentina 1995-1996 NVG territories acquired in Brazil 2000 New bottling facility in Chile begins operations. Restructuring of juice business through joint venture with Coca-Cola bottlers in Chile 2011 Andina acquires Ipiranga, a Coca- Cola bottler in Brazil 2013 Andina acquires Guallarauco. Agreement for distributing Diageo’s Alcoholic beverages. Duque de Caxias new plant begins operations in Brazil 2018 Agreement to commercialize and distribute ABInBev products in Chile 2020 Agreement to commercialize and distribute Campari products in Brazil 2022 Andina’s HistoryOur Company 4
Page 5
Coca-Cola Andina Corporate Presentation Ownership Structure (As of December 31, 2024)Our Company 5 Controlling Group 39.2% Others 45.7% Coca-Cola 7.3% ADRs 2.7% Chilean Pension Funds 5.1% The Controlling Group is composed of 4 Chilean families with equal parts, that have a shareholders’ agreement which includes TCCC. Series A elects 12 of 14 Board members. Series B receives an additional 10% in dividends. 55.4% 21.9% 14.7% 0.8% 7.3% A series 23.0% 69.5% 4.6% 2.9% B series
Page 6
Coca-Cola Andina Corporate Presentation Chile • Territories: Antofagasta, Atacama, Coquimbo, Metropolitan Region, San Antonio, Cachapoal, Aysén and Magallanes. • Extension: 398 thousand Km2 • Population covered: 10.2 million • Total volume FY 2024: 311.5 million UCs Paraguay • Territories: the entire Paraguayan territory • Extension: 407 thousand Km2 • Population covered: 6.4 million • Total volume FY 2024: 85.0 million UCs Brazil • Territories: majority of the State of Rio de Janeiro, the State of Espírito Santo, part of São Paulo and part of Minas Gerais. • Extension: 165 thousand Km2 • Population covered: 23.9 million • Total volume FY 2024: 339.8 million UCs Argentina • Territories: San Juan, Mendoza, San Luis, Córdoba, most of Santa Fé, Entre Ríos, La Pampa, Neuquén, Rio Negro, Chubut, Santa Cruz, Tierra del Fuego and Western Province of Buenos Aires. • Extension: 1.9 million Km2 • Population covered: 17.3 million • Total volume FY 2024: 172.6 million UCs Volume 34% 37% 19% 9% 909 MM UCs Revenues 39% 28% 24% 9% USD$3,371 MM 32% 33% 21% 14% USD$605 MM Adjusted EBITDA Regional & Diversified Platform (FY 2024)Our Company Source: Company filings and public releases 6
Page 7
Coca-Cola Andina Corporate Presentation Superior Manufacturing & Logistics CapabilitiesOur Company Production of soft drinks Distribution center Production of juices Production of soft drinks, juices and waters (cans and PET special formats) Production of mineral waters Chile • 3 bottling plants with a total of 21 lines • Average utilization ranged from 46.0% to 57.0% • 20 distribution centers • Fleet of 474 owned trucks and 405 third party trucks • In Subsidiaries 3 additional production facilities with 17 lines v Paraguay • 1 bottling plant with a total of 11 lines • Average utilization range from 33.0% to 47.0% • 7 distribution centers • Fleet of 374 third party trucks Brazil • 3 bottling plants with a total of 29 lines • Average utilization range from 67.2% to 71.3% • 21 distribution centers • Fleet of 1,096 owned trucks and 91 third party trucks Argentina • 4 bottling plants with a total of 26 lines • Average utilization ranged from 27.0% to 41.0% • 47 distribution centers • Fleet of 636 third party trucks • 14 bottling plants • 104 lines • 95 distribution centers • 3,076 own & third party trucks Reaching over 271,000 clients Source: Company filings and public releases 7
Page 8
Coca-Cola Andina Corporate Presentation 8 Committed to sustainable developmentOur Company Generating Social, Economic and Environmental Value in all our actions Source: Company filings and public releases
Page 9
Coca-Cola Andina Corporate Presentation Achievements on sustainable developmentOur Company Generating Social, Economic and Environmental Value in all our actions Water ratio (WUR) -16.3% 1.0 2.0 3.0 2019 2020 2021 2022 2023 2024 Returnable packaging (on NARTD) 27.7% 0.0% 10.0% 20.0% 30.0% 40.0% 50.0% 2019 2020 2021 2022 2023 2024 9 Argentina Brazil Chile Paraguay Total Coca-Cola Andina1 Recycled resin (on Total PET OW) +13.5 pp 0.0% 10.0% 20.0% 30.0% 40.0% 2020 2021 2022 2023 2024 Energy ratio (EUR) -0.4% 0.000 0.100 0.200 0.300 0.400 0.500 0.600 2019 2020 2021 2022 2023 2024 Energy consumption from renewable sources +16.9 pp 0.0% 20.0% 40.0% 60.0% 80.0% 100.0% 2019 2020 2021 2022 2023 2024 1 This information includes Embotelladora Andina S.A. and its main subsidiaries (Coca-Cola Andina Argentina, Coca-Cola Andina Brazil, Coca-Cola Andina Chile and Paresa)
Page 10
Coca-Cola Andina Corporate Presentation Achievements on sustainable developmentOur Company Generating Social, Economic and Environmental Value in all our actions Diversity: % Women1 +4.1 pp 0.0% 5.0% 10.0% 15.0% 20.0% 25.0% 2020 2021 2022 2023 2024 Kilocalories sold every 200 ml.2 -20.0% 30.0 40.0 50.0 60.0 70.0 2019 2020 2021 2022 2023 2024 10 Argentina Brazil Chile Paraguay Total Coca-Cola Andina3 1 Beginning 2022, the calculation of personnel is based on the headcount of the Company's own personnel, pursuant to the new general standard No. 461 of Chile’s Financial Market Commission, whereas the values of previous years correspond to Full time equivalent. Argentina includes Embotelladora del Atlántico S.A. and Empaques Argentina S.A., and Chile includes Embotelladora Andina S.A., VJ S.A., Vital Aguas S.A., Envases Central S.A. and Re-Ciclar S.A. In addition, Holding is included in the Total. 2 Values from Chile 2021 were recalculated in 2022, for greater precision in the calculation. 3 This information includes Embotelladora Andina S.A. and its main subsidiaries (Coca-Cola Andina Argentina, Coca-Cola Andina Brazil, Coca-Cola Andina Chile and Paresa), except for % women (see note 1).
Page 11
Coca-Cola Andina Corporate Presentation Main Indicators and Future Commitments1Our Company 1.72 1.64 1.27 Water ratio (WUR): Liters of water consumed per liter of beverage produced. Contribute towards the consolidation of sustainable supply chains. 16.9% 17.4% 2x Double the participation of women among employees (2020 base). Remain close, promote digitization and increase customer satisfaction. 48.83 47.45 40.75 Kilocalories sold every 200 ml. 2023 Results 2024 Results Contribute to the progress of the local economies where we operate. 2030 Commitments 11 18.4% 21.4% 27.5% 27.7% 42.8% Sales volumen returnable packaging (on NARTD). 30%-35% Recycle resin used to produce PET bottles. “World without waste” goals (www*). 0.317 0.321 0.255 Energy ratio (EUR): Liters of energy consumed per liter of beverage produced. Increase energy consumed from renewable sources. Validating short-term goals for STBi commitment. 38.6% 44.9% 1 This information includes Embotelladora Andina S.A. and its main subsidiaries (Coca -Cola Andina Argentina, Coca-Cola Andina Brazil, Coca-Cola Andina Chile and Paresa). Except for % women which also includes Holding, Empaques Argentina S.A., VJ S.A., Vital Aguas S.A., Envases Central S.A. and Re-Ciclar S.A.
Page 12
Coca-Cola Andina Corporate Presentation Our Company Market Description Our Strategy What Makes Us Unique? Financial Highlights
Page 13
Coca-Cola Andina Corporate Presentation Our Market Structure at a glance (As of December 31, 2024)Market Description 64% 36% 41% Market Share Soft drinks Waters Juices and Others 11% 22% 28% 39% Channel Mix On premise Wholesalers Supermarkets Mom and Pops 256 42 28 19 Soft Drinks Waters Juice and Others Beer and Spirit Per capita Consumption (8 oz. bottles) 76% 71% 71% 71% 71% 11% 11% 12% 12% 13% 9% 11% 12% 12% 12% 4% 7% 5% 5% 5% 2020 2021 2022 2023 2024 Product Mix Soft Drinks Waters Juice and Others Beer and Spirit 34% Format Mix SSD Returnable Non Returnable 36% 64% Sugary Mix NARTD Reduced or Zero Sugar 13
Page 14
Coca-Cola Andina Corporate Presentation Our Company Market Description Our Strategy What Makes Us Unique? Financial Highlights
Page 15
Coca-Cola Andina Corporate Presentation Growth through: • NARTD & ARTD (KO) Portfolio • Entering New Catergories leveraging our Assets and Logistics Capacity. • New geographic Inorganic Growth opportunities 1 Eficiency and Productivity leadership to maintain Cost Effectiveness in all our Operations2 Digital Transformation Strategy: Internal Processes, Culture & Market3 Excellence Teams based on Talent, Diversity and Meritocracy4 Sustainability Strategy through implementing our 6 priorities (Water, Sustainable Packaging, Workplace Climate, Comunities, Energy & SSD Benefits) 5 Strategic Objectives Coca-Cola Andina 2025Our Strategy 15
Page 16
Coca-Cola Andina Corporate Presentation Our Company Market Description Our Strategy What Makes Us Unique? Financial Highlights
Page 17
Coca-Cola Andina Corporate Presentation 1 Complete Beverage Portfolio Refillable Bottles Strategy Towards a World Without Waste2 Strong Sugar Reduction and Stills & Low-Cal Strategy3 Digital Capabilities for today’s business4 High Performance, strongly committed Team5 Learning and Sharing for Continued Improvement6 What makes us unique? 17
Page 18
Coca-Cola Andina Corporate Presentation 1 Complete Beverage Portfolio (1Q25)What makes us unique? Source: Company filings and public releases. 1 SSDs: Sparkling Soft Drinks; NCBs: Non-Carbonated Beverages 2 To see the complete list of the products, you can review in our website www.koandina.com the Integrated Annual Report or 20-F Report Juices and other NCBs1 Water Beer2 SSDs1 Spirit Beverages2 Paraguay Brazil Chile Argentina 18
Page 19
Coca-Cola Andina Corporate Presentation 2 Universal Bottle Refillable Bottles Strategy Towards a World Without WasteWhat makes us unique? % Refillables as of Total SSD Volume Chile Paraguay Brazil Argentina 44.4% 22.0% 38.6% 41.9% FY2022 41.4% 22.2% 41.1% 40.0% FY2023 45.3% 23.3% 39.8% 40.0% FY2024 DQX Brazil: New capacity One of the highest mix of refillables worldwide 19
Page 20
Coca-Cola Andina Corporate Presentation 3 Strong Sugar Reduction and Stills & Low-Cal StrategyWhat makes us unique? % of NARTD Total Volume (*) No Sugar & LowCal 2010 2023 2010 2023 2010 2023 2010 2023 9% 27% 11% 27% 21% 59% 11% 25% Chile Paraguay BrazilArgentina Stills Mix 2010 2023 2010 2023 2010 2023 2010 2023 4% 16% 4% 21% 13% 33% 5% 20% Chile Paraguay BrazilArgentina (*) Sugar free + Mid cal volume (less than 5 gr of sugar/100 ml) over Total NARTD Volume 20
Page 21
Coca-Cola Andina Corporate Presentation 4What makes us unique? Digital Capabilities for today’s business • Information in our Data Lake • Data Driven Decision Processes • Pricing and Porfolio • Suggested Order Data – AI - Automatismos Data Driven Decision Company Market Interaction with our Customers & Consumers • Customer & Consumers Centric • Omnichannel Experience • Scale in digitalized customers in all operations • Data source generating insights • Direct to Consumers platform in all operations Customers App Consumers Ecommerce • Move to the cloud • Cybersecurity • Data Business • Artificial Intelligent Technology Scaling connected and integrated platforms • Continuously reviewing digital teams and structure • Developing and fostering people growth • Communicating internally to align and externally to attract talentPeople Building ambidextrous culture 21 Internal Operations Generation of Efficiency & Productivity • Digitize operation information flows to generate data-based solutions • Expand & Capture benefits from Truck and Labor Optimization apps • Automate as much as possible through RPA and Data & Analytics OPTIPLUS
Page 22
Coca-Cola Andina Corporate Presentation 4What makes us unique? Digital Capabilities for today’s business Market Interaction with our Customers & Consumers Customers • Our B2B operating under a single technological platform across all operations. • +84% registered customers and +73% buyers. • Generating +57% of the net income from the traditional trade through this solution in December‘24. • At a total channel level, +64% of the net income is obtained through digital channels. Consumers • B2C platforms with robust growth across all operations, offering a complete portfolio directly to our consumers, maintaining world-class satisfaction indicators, +70 NPS points. Data – AI - Automatismos Data Driven Decision Company • Migrated all information to the Data Lake. • Data Driven Process in Commercial Area (pricing, suggest order and portfolio) and Supply Chain (Forecast and Order Tracking). • We incorporated Artificial Intelligence (Suggest Order, Forecasting and anomaly prediction). People Building ambidextrous culture • More than 300 people working in digital development teams (agile teams and tribes). • Operations teams aligned and connected with the digital strategy. • Collaboration with world-class partners and continuous training of our digital and business teams with institutions such as MIT, among others. Technology Scaling connected and integrated platforms • Technology people integrated with the business forming an integral part of the digital teams. • Migration of applications and servers to the cloud. • Cost optimization of cloud solutions. • New cybersecurity model. Internal Operations Generation of Efficiency & Productivity Tracking Orders • Application to manage inventory, track operations and deliveries in near real time. • More than 1,300 users in 4 countries and more than 500 queries per hour. • 32 different views of the operation and AI models to predict anomalies. Truck Optimizer • Solution developed by Andina to optimize the load carried by each truck. • More than 45 FTEs decreased (via increased productivity). Process automation • More than 336 bots that automate operations in Backoffice, Supply Chain and Commercial (including solutions with generative AI). 22
Page 23
Coca-Cola Andina Corporate Presentation 5 87% 88% 94% 93% 93% 90% 92% 2012 2015 2017 2019 2022 2023 2024 Adherence Rate Miguel Ángel Peirano Chief Executive Officer José Luis Solórzano General Manager – Chile Renato Barbosa General Manager – Brazil Fabián Castelli General Manager – Argentina Francisco Sanfurgo General Manager - Paraguay 1328 2228 1334 3131 2036 Industry Experience (Years) Company Experience (Years) Andrés Wainer Chief Financial Officer Fernando Jaña Chief Strategic Planning Officer Jaime Cohen Chief Legal Officer Martín Idígoras Chief Technology Officer Gonzalo Muñoz Chief Human Resources Officer 2929 1020 1717 66 1010 Industry Experience (Years) Company Experience (Years) Experienced Senior Management (1Q25) What makes us unique? High Performance, strongly committed Team 23 - In 2022, we started measuring Average Commitment of employees, in line with the Gallup methodology. - Results in 2024 reached 3.99, in a scale of 1 to 5, improving our overall engagement for third year in a row. We have developed a robust engagement management system, that allows us to monitor and develop our engagement in a frequent, effective, and data-driven manner. 79% of our teams have either maintained or improved their engagement results. 85% of employees declare to be satisfied or extremely satisfied at work. 89% of our employees declare that in our company we feel highly responsible for the quality of service we offer to our clients and consumers. 47 eNPS our score places us at the highest eNPS segments within the FMCG category.
Page 24
Coca-Cola Andina Corporate Presentation 6What makes us unique? Inside The Coca-Cola System With Relevant Partners Top 2 Top Growth Corridors Joint Working Framework with The Coca-Cola Company Other Bottlers Digital Partners Business Partners High level instance to share strategy, best practices, new ways of working and projects to ensure short and long term results Alignment and Project Portfolio (SSD, Stills, Fabs, RTM, Procurement, ESG, Digital, etc) with KO & 3 largest LatAm Bottlers. To strengthen the long-term relationship between both companies in different areas, including Growth plans, Relationship economics, Potential new business and ventures, and Digital strategy. Regular Instances with Top 10 Worldwide Bottlers to share best practices and continued improvement (CEPG, Finance, Digital, RTM, etc) World Class Digital Partners to ensure best in class solutions in Digital Transformation (i.e. AWS in data lake & analytics) World Class Business Partners to ensure best practices in our core and backoffice activities Learning and Sharing for Continued Improvement 24
Page 25
Coca-Cola Andina Corporate Presentation Our Company Market Description Our Strategy What Makes Us Unique? Financial Highlights
Page 26
Coca-Cola Andina Corporate Presentation 20% 21% 17% 18% 20% EBITDA Margin 18% 19%18%1 1: EBITDA Margin considers AB InBev beer distribution agreement that started on Oct‐20. Adjusted EBITDA and Adjusted EBITDA Margin (CLP$ mm) Strong Ebitda Generation (Consolidated)Financial Highlights 26 CAGR +10.6% 7.3% 348,869 350,532 397,213 464,510 470,108 578,192 160,412 172,049 2019 2020 2021 2022 2023 2024 1Q24 1Q25 Argentina Brazil Chile Paraguay TOTAL
Page 27
Coca-Cola Andina Corporate Presentation Strong Ebitda GenerationFinancial Highlights Brazil Chile Paraguay 27 Argentina1 (1) All figures are expressed using Mar-25 currency. 671 1,090 256 295 19.3% 21.0% 21.0% 20.7% 0 200 400 600 800 1,000 1,200 1,400 2019 2020 2021 2022 2023 2024 1Q24 1Q25 (Million R$) Ebitda Margin (%) 134,083 189,565 48,945 54,537 22.0% 15.2% 15.1% 16.0% 0 40,000 80,000 120,000 160,000 200,000 2019 2020 2021 2022 2023 2024 1Q24 1Q25 (Million CLP$) Ebitda Margin (%) 372,543 648,755 177,344195,530 26.5% 28.8% 31.0% 30.7% 0 150,000 300,000 450,000 600,000 2019 2020 2021 2022 2023 2024 1Q24 1Q25 (Million G$) Ebitda Margin (%) 134,960 143,783 55,032 53,977 14.5% 16.0% 23.9% 20.3% 0 20,000 40,000 60,000 80,000 100,000 120,000 140,000 160,000 180,000 200,000 220,000 2019 2020 2021 2022 2023 2024 1Q24 1Q25 (Million AR$) Ebitda Margin (%)
Page 28
Coca-Cola Andina Corporate Presentation (53) (66) (60) (65) (69) (64) (69) 4 11 3 38 29 18 12 2019 2020 2021 2022 2023 2024 1Q2025 Financial Expenses / Income (USD$ mm)3 Financial Expenses Financial Income 900 1,217 939 1,180 1,146 1,018 1,069 2019 2020 2021 2022 2023 2024 1Q2025 Financial Debt1 (USD$ mm) Short Term Financial Debt Long Term Financial Debt 689 584 348 731 724 695 850 2019 2020 2021 2022 2023 2024 1Q2025 Net Financial Debt2 (USD$ mm) Solid Financial PositionFinancial Highlights Source: Data as reported on Company filings (1) Financial Debt: Other Current Financial Debt + Other Non-Current Financial Debt considering MtM of Derivatives and without Guarantee Deposit from refillable bottles. (2) Net Financial Debt means consolidated Liabilities bearing interest minus Cash, namely: (i) other current financial liabilities, plus (ii) other non-current financial liabilities, less (iii) the sum of cash and cash equivalents; plus, other current financial assets; plus, other non-current financial assets (to the extent that they correspond to the asset balances of derivative financial instruments, entered to cover exchange rate risks or interest rate risks on financial liabilities). (3) Financial Income corresponds to the interests generated by the cash and Financial Expenses corresponds to the interests generated by the financial debt of the company. The value corresponds to the sum of the last 12 months. Banks Bonds Total USD$mm 83 986 1,069 % 8% 92% 100% Note: After derivatives effect, and its corresponding MtM Note: Banks includes Bank, Leasing & Others, does not consider deposits from Refillable Bottles. Bonds Include derivatives effect and its corresponding MtM Risk Ratings Local rating agencies Rating ICR AA+ Fitch Chile AA+ International rating agencies Rating Moody’s Baa1 Fitch Ratings, Inc. BBB+ 28 UF CLP$ R$ US$ PGY$ AR$ CHF$ Total US$mm 455 440 161 6 0 7 0 1,069 % 43% 41% 15% 1% 0% 1% 0% 100%
Page 29
Coca-Cola Andina Corporate Presentation 1.5 1.2 0.7 1.3 1.4 1.2 1.4 9.6 8.9 8.2 19.9 13.6 12.7 10.7 2019 2020 2021 2022 2023 2024 1Q2025 Financial Ratios (II) Net Financial Debt(2)/Adj. Ebitda(3) Debt Coverage Ratio (4) 0.7 1.0 0.7 1.1 1.1 1.0 0.9 0.5 0.5 0.3 0.7 0.7 0.7 0.8 2019 2020 2021 2022 2023 2024 1Q2025 Financial Ratios (I) Financial Debt/Equity Ratio(1) Net Financial Debt(2)/Equity Ratio Solid Financial PositionFinancial Highlights Source: Data as reported on Company filings (1) Financial Debt to Equity Ratio: [Other Current Financial Debt + Other Non-Current Financial Debt]/ Equity. Debt doesn’t consider Guarantee Deposits from refillable bottles and does consider the liability generated by the MtM of Derivatives. (2) Net Financial Debt: Consolidated Liabilities bearing interests minus Cash, namely: (i) other current financial liabilities, plus (ii) other non-current financial liabilities, less (iii) the sum of cash and cash equivalents; other current financial assets; and other non-current financial assets (to the extent that they correspond to the asset balances of derivative financial instruments, entered to cover exchange rate risks or interest rate risks on financial liabilities). (3) Adjusted EBITDA considers the following items: Ordinary Income, Sales Costs, Distribution Costs, Administrative Expenses plusDepreciation, included in the Financial Statements presented to the Chilean Financial Market Commission and which are determined in accordance with IFRS. The value corresponds to the sum of the last 12 months. (4) Debt Coverage Ratio: Adjusted EBITDA / (Financial Expenses – Financial Income). Adj. EBITDA & Financial Expenses/Income for 1Q25considers last 12 months figures from Mar-24. Also, it considers interests related to Financial Debt and Cash. (5) Free Cash Flow = Operating Income + Depreciation – CAPEX – Taxes (+/-) Working Capital Variation. 29 297 314 322 272 345 160 2019 2020 2021 2022 2023 2024 Free Cash Flow5 (USD$ mm) 154 110 171 193 250 311 2019 2020 2021 2022 2023 2024 CAPEX (USD$ mm) 71 16 10 154 6 6 4 54 68 68 15 233 365 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035 2036 2037 2038 2039 2040 2041 2042 2043 2044 2045 2046 2047 2048 2049 2050 Debt Amortizations (USD$mm)
Page 30
Coca-Cola Andina Corporate Presentation Dividends (as of March 31, 2025)Financial Highlights (1) Dividends announced and paid during the year. (2) Dividend yield is calculated as dividends per share distributed on year t over the closing price of year t-1. (3) Payout ratio is calculated as dividends distributed on account of income from the fiscal year t over the Net Income ofthe same year. Dividend Distribution1 (million CLP$) Dividend Yield2 2020 2021 2022 2023 2024 Series A 5.4% 6.8% 17.3% 10.1% 9.1% Series B 5.1% 6.4% 16.4% 8.8% 7.9% Payout Ratio3 2020 2021 2022 2023 2024 82% 69% 219% 96% 67% 30 106,347 274,316 164,987 157,036 140,140 2021 2022 2023 2024 2025
Page 31
Coca-Cola Andina Corporate Presentation Contact in Santiago, Chile Andrés Wainer, Chief Financial Officer Paula Vicuña, Investor Relations Officer (56-2) 2338-0520 / andina.ir@koandina.com
Page 32
Coca-Cola Andina Corporate Presentation Appendix
Page 33
Coca-Cola Andina Corporate Presentation Our Market Structure by operation (As of December 31, 2024)Market Description 58% 15% 47% Market Share Soft drinks Waters Juices and Others 64% 26% 42% Market Share Soft drinks Waters Juices and others 65% 44% 36% Market Share Soft drinks Waters Juices and others 75% 52% 58% Market Share Soft drinks Waters Juices and others 193 21 16 Soft Drinks Waters Juice and Others Per capita Consumption (8 oz. bottles) 258 26 24 3 Soft Drinks Waters Juice and Others Beer and Spirit Per capita Consumption (8 oz. bottles) 368 122 60 95 Soft Drinks Waters Juice and Others Beer and Spirit Per capita Consumption (8 oz. bottles) 243 34 28 5 Soft Drinks Waters Juice and Others Beer Per capita Consumption (8 oz. bottles) 84% 9% 8% Product Mix Soft Drinks Waters Juice and Others 78% 9% 12% 1% Product Mix Soft Drinks Waters Juice and Others Beer and Spirit 52% 20% 15% 13% Product Mix Soft Drinks Waters Juice and Others Beer and Spirit 79% 11% 9% 1% Product Mix Soft Drinks Waters Juice and Others Beer 7% 31% 24% 38% Channel Mix On premise Wholesalers Supermarkets Mom and Pops 12% 23% 32% 33% Channel Mix On premise Wholesalers Supermarkets Mom and Pops 13% 11% 30% 46% Channel Mix On premise Wholesalers Supermarkets Mom and Pops 12% 37% 13% 37% Channel Mix On premise Wholesalers Supermarkets Mom and Pops 45% Format Mix SSD Returnable Non Returnable 23% Format Mix SSD Returnable Non Returnable 40% Format Mix SSD Returnable Non Returnable 40% Format Mix SSD Returnable Non Returnable 27% 73% Sugary Mix NARTD Reduced or Zero Sugar 27% 73% Sugary Mix NARTD Reduced or Zero Sugar 59%41% Sugary Mix NARTD Reduced or Zero Sugar 25% 75% Sugary Mix NARTD Reduced or Zero Sugar 33
Page 34
Coca-Cola Andina Corporate Presentation Main Financial Highlights (Million USD$) 20191 2020 20212 20222 2023 2024 1Q24 1Q25 Total Volume (million UCs) 746 735 828 874 883 909 229 251 Net Sales 2,495 2,190 2,848 3,058 3,094 3,371 842 925 Operating Income 335 306 378 397 422 448 130 138 Operating Margin 13.4% 14.1% 13.3% 13.0% 13.6% 13.3% 15.5% 15.0% Adjusted EBITDA 491 450 512 535 555 605 168 179 Adjusted EBITDA Margin 19.6% 20.6% 18.0% 17.5% 17.9% 18.0% 19.9% 19.4% Net Income 247 156 201 145 203 244 74 83 Revenues per unit case (USD$) 3.34 2.98 3.44 3.50 3.51 3.71 3.68 3.69 Adj. EBITDA per unit case (USD$) 0.66 0.61 0.62 0.61 0.63 0.67 0.73 0.71 Capital Expenditures 154 110 171 193 250 311 47 39 CAPEX/Depreciation (times) 1.0 0.8 1.3 1.4 1.7 2.0 1.3 1.0 FX (CLP$/USD) period average 702.8 792.0 759.6 873.3 839.9 944.2 948.1 962.6 FX (CLP$/USD) end of period 748.7 711.0 844.7 855.9 877.1 996.5 981.7 953.1 Note: 2019, 2020, 2021, 2022, 2023 and 2024 results are constructed with Argentinean results expressed at Dec-19 currency, Dec-20 currency, Dec-21 currency, Dec-22 currency, Dec-23 currency and Dec-24 currency, respectively. 1Q24 (1Q25) results are constructed with Argentinean results expressed at March-24 (25) currency. Accumulated capital expenditures for 1Q25 includes USD$ 1.9 million due to the adoption of IFRS 16. Accumulated capital expenditures for 1Q24 includes USD$ 2.0 million due to the adoption of IFRS 16. (1) Excluding the effect of the tax credit recognition as a result of the favorable ruling of the Brazilian tax authorities, Net Income reached USD$ 53 million during the 4th quarter 2019, and USD$ 176 million for FY19. (2) Adjusted EBITDA Margin for 2021 considers AB InBev beer distribution agreement that started on Oct-20. Adjusted EBITDA Margin without considering AB InBev agreement is 19.2% for 2021. Adjusted EBITDA Margin for 2022 considers Viña Santa Rita distribution agreement that started on Nov-21 (also considers AB InBev beer distribution agreement). Adjusted EBITDA Margin without considering AB InBev and Viña Santa Rita agreements is 18.8% for 2022. 34
Page 35
Coca-Cola Andina Corporate Presentation Main Financial Highlights (Local Currency (million)) 20191 20201 20211 20221 20231 20241 1Q241 1Q25 Sales Volume (million UCs) 178 167 185 201 194 173 42 51 Net Sales 31,566 37,737 65,297 142,559 424,298 826,925 230,678 266,051 Operating Income 2,563 3,081 6,120 17,905 58,031 82,825 41,889 40,110 Operating Margin 8.1% 8.2% 9.4% 12.6% 13.7% 10.0% 18.2% 15.1% Adjusted EBITDA 4,592 5,791 10,117 24,828 79,282 132,489 55,032 53,977 Adjusted EBITDA Margin 14.5% 15.3% 15.5% 17.4% 18.7% 16.0% 23.9% 20.3% Revenues per unit case (US$) 2.96 2.69 3.44 4.00 2.70 4.64 4.31 4.89 Adj. EBITDA per unit case (US$) 0.43 0.41 0.53 0.70 0.50 0.74 1.03 0.99 Capital Expenditures (million US$) 29 23 38 44 51 90 18 13 CAPEX/Depreciation (times) 0.9 0.7 1.0 1.2 1.4 2.0 1.8 1.0 FX (AR$/US$) period average 48.23 70.64 95.10 130.72 296.61 916.24 834.46 1,057.00 FX (AR$/US$) end of period 59.89 84.15 102.72 177.16 808.45 1,032.00 858.00 1,074.00 2019 2020 2021 2022 2023 2024 1Q24 1Q25 Sales Volume (million UCs) 259 265 266 278 301 340 81 91 Net Sales 3,467 3,758 3,833 3,753 4,404 5,194 1,218 1,429 Operating Income 503 586 491 479 638 883 207 240 Operating Margin 14.5% 15.6% 12.8% 12.8% 14.5% 17.0% 17.0% 16.8% Adjusted EBITDA 671 763 659 666 825 1,090 256 295 Adjusted EBITDA Margin 19.3% 20.3% 17.2% 17.7% 18.7% 21.0% 21.0% 20.7% Revenues per unit case (US$) 3.40 2.76 2.67 2.62 2.95 2.83 3.05 2.68 Adj. EBITDA per unit case (US$) 0.66 0.55 0.46 0.47 0.55 0.60 0.64 0.55 Capital Expenditures (million US$) 30 25 37 49 60 119 11 8 CAPEX/Depreciation (times) 0.7 0.7 1.2 1.3 1.6 3.1 1.1 0.8 FX (R$/USD) period average 3.95 5.16 5.40 5.16 4.99 5.39 4.95 5.84 FX (R$/USD) end of period 4.03 5.20 5.58 5.22 4.84 6.19 5.00 5.74 2019 2020 20212 20222 2023 2024 1Q24 1Q25 Sales Volume (million UCs) 240 236 307 320 310 312 85 86 Net Sales 608,952 644,762 975,296 1,123,665 1,191,974 1,245,018 323,240 341,740 Operating Income 87,978 91,166 135,232 134,840 139,519 138,487 36,783 40,298 Operating Margin 14.4% 14.1% 13.9% 12.0% 11.7% 11.1% 11.4% 11.8% Adjusted EBITDA 134,083 141,437 173,422 175,554 184,450 189,565 48,945 54,537 Adjusted EBITDA Margin 22.0% 21.9% 17.8% 15.6% 15.5% 15.2% 15.1% 16.0% Revenues per unit case (US$) 3.61 3.44 4.18 4.02 4.58 4.23 4.02 4.12 Adj. EBITDA per unit case (US$) 0.80 0.76 0.74 0.63 0.71 0.64 0.61 0.66 Capital Expenditures (million US$) 74 35 69 77 120 79 17 17 CAPEX/Depreciation (times) 1.1 0.5 1.4 1.6 2.2 1.5 1.4 1.1 FX (Ch$/USD) period average 702.8 792.0 759.6 873.3 839.9 944.2 948.1 962.6 FX (Ch$/USD) end of period 748.7 711.0 844.7 855.9 877.1 996.5 981.7 953.1 2019 2020 2021 2022 2023 2024 1Q24 1Q25 Sales Volume (million UCs) 69 66 70 74 78 85 22 23 Net Sales 1,405,584 1,351,909 1,497,924 1,706,394 1,937,751 2,256,276 571,298 636,814 Operating Income 286,781 337,587 386,831 402,745 473,188 520,540 144,650 165,873 Operating Margin 20.4% 25.0% 25.8% 23.6% 24.4% 23.1% 25.3% 26.0% Adjusted EBITDA 372,543 426,706 476,646 509,070 592,351 648,755 177,344 195,530 Adjusted EBITDA Margin 26.5% 31.6% 31.8% 29.8% 30.6% 28.8% 31.0% 30.7% Revenues per unit case (US$) 3.26 2.99 3.17 3.27 3.43 3.51 3.61 3.51 Adj. EBITDA per unit case (US$) 0.86 0.94 1.01 0.97 1.05 1.01 1.12 1.08 Capital Expenditures (million US$) 20 27 27 23 18 23 1 2 CAPEX/Depreciation (times) 1.5 2.1 2.0 1.5 1.1 1.3 0.2 0.4 FX (G$/US$) period average 6,240 6,773 6,778 6,988 7,294 7,564 7,299 7,922 FX (G$/US$) end of period 6,453 6,900 6,886 7,346 7,278 7,831 7,399 7,994 35 (1) 2019, 2020, 2021, 2022, 2023 and 2024 Argentinean results are expressed at Dec‐19, Dec‐20, Dec‐21, Dec‐22, Dec‐23 and Dec‐24 currency, respectively. 1Q24 results are expressed at March‐25 currency. (2) Adjusted EBITDA Margin for 2021 considers AB InBev beer distribution agreement that started on Oct‐20. Adjusted EBITDA Margin without considering AB InBev agreement is 21.1% for 2021. Adjusted EBITDA Margin for 2022 considers Viña Santa Rita distributio n agreement that started on Nov -21 (also considers AB InBev beer distribution agreement). Adjusted EBITDA Margin without consideri ng AB InBev and Viña Santa Rita agreements is 18.7% for 2022.