Compania Cervecerias Unidas SA (CCU) has released an update.
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Compania Cervecerias Unidas SA (CCU) reported a challenging second quarter in 2024, with consolidated volumes dropping by 12.7% and net sales declining by 8.6%, largely due to difficult market conditions in Chile and Argentina, coupled with local currency depreciation. Despite these setbacks, the company maintained its market share and implemented a regional plan ‘HerCCUles’ aimed at revenue management and cost control to improve profitability. The reported EBITDA fell by 78.7% to CLP 10,053 million, excluding a non-recurring gain from land sale, and net income showed a loss of CLP 15,888 million.
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