# Embotelladora Andina S.A > Clarifo company profile — qualitative business description generated from > the company's filings. Financial statements, charts and ratios are > available on Clarifo (https://www.clarifo.com/en/companies/Embotelladora Andina S.A). ## Overview Andina Bottling Co Inc is the legal entity name associated with Coca-Cola Andina, a Latin American beverage bottler that produces and distributes Coca-Cola-branded drinks under franchise agreements. Its business covers soft drinks, juices, bottled water, beer and other alcoholic beverages across territories in Chile, Argentina, Brazil and Paraguay. ## Products & services • Bottling and distribution of Coca-Cola soft drinks • Juices, bottled water and other non-alcoholic beverages • Beer and other alcoholic beverages in selected territories • Franchise-based production and commercialization services • Marketing and trade support for branded beverage portfolios - **Carbonated soft drinks** (55%) — Coca-Cola-branded sparkling beverages produced and distributed under franchise agreements. - **Still beverages** (20%) — Juices, bottled water and other non-carbonated drinks sold across bottling territories. - **Alcoholic beverages** (10%) — Beer and other alcoholic beverages distributed in selected markets. - **Packaging and ancillary beverage sales** (5%) — Related beverage formats and small-format channels tied to the core bottling network. - **Commercial and franchise services** (10%) — Merchandising, marketing and commercial support linked to beverage distribution. - Bottling and distribution of Coca-Cola soft drinks - Juices, bottled water and other non-alcoholic beverages - Beer and other alcoholic beverages in selected territories - Franchise-based production and commercialization services - Marketing and trade support for branded beverage portfolios ## Customers The company sells primarily into retail and on-trade channels that place beverage products with consumers in its licensed territories. Its customer base includes supermarkets, convenience stores, traditional trade, restaurants, bars and institutional buyers that rely on a broad packaged-beverage portfolio and local distribution reach. - **Retail chains and supermarkets** (primary) — Buy packaged beverages for shelf placement, display and volume turnover in consumer outlets. - **Traditional trade and convenience** (primary) — Purchase smaller pack sizes and high-turnover products for neighborhood and impulse consumption. - **Foodservice and on-trade** (secondary) — Buy beverages for immediate consumption in restaurants, bars and hospitality venues. - **Institutional and wholesale buyers** (secondary) — Purchase beverage volumes for resale or use across larger distribution networks. - **End consumers** (primary) — Drive demand through purchases of branded beverages in the company’s franchise territories. - Supermarkets and grocery chains buying packaged beverages for retail shelves - Convenience and traditional trade outlets needing high-frequency replenishment - Restaurants, bars and foodservice buyers for cold drink consumption - Institutional and wholesale channels purchasing beverages in volume - Consumers reached indirectly through Coca-Cola-branded franchise channels ## Geography Coca-Cola Andina operates franchise territories in Chile, Argentina, Brazil and Paraguay, serving a combined population of almost 58 million people. The company’s beverage network is organized around local bottling and distribution subsidiaries in these countries, which makes demand, regulation, taxes and input costs highly country-specific. - **Chile** (0%) — Operating territory disclosed; no revenue split provided in excerpts. - **Argentina** (0%) — Operating territory disclosed; no revenue split provided in excerpts. - **Brazil** (0%) — Operating territory disclosed; no revenue split provided in excerpts. - **Paraguay** (0%) — Operating territory disclosed; no revenue split provided in excerpts. - Chile is a core operating base through Embotelladora Andina - Argentina is served through Embotelladora del Atlántico - Brazil operations run through Rio de Janeiro Refrescos - Paraguay is covered through Paraguay Refrescos - Territories span almost 58 million consumers across four countries ## Strategy The company frames its strategy around becoming a total beverage company by using its existing bottling and distribution system more efficiently across multiple drink categories. It also seeks to deepen its relationship with The Coca-Cola Company, expand portfolio breadth and improve long-term return on invested capital through its franchise territories. - **Broaden the beverage portfolio** (medium-term) — Diversifies demand and reduces reliance on sugary carbonated drinks. - **Optimize franchise and distribution assets** (long-term) — The bottling system and territorial rights are the core economic moat. - **Protect commercial ties with The Coca-Cola Company** (short-term) — A large share of sales depends on licensed Coca-Cola brands and renewals. - Expand beyond core soft drinks into a broader beverage portfolio - Use the existing bottling network more efficiently across territories - Strengthen franchise relationships with The Coca-Cola Company - Support product mix with sugar-free and reformulated beverages - Maintain commercial reach across four Latin American markets ## Risks The business depends heavily on The Coca-Cola Company for brand rights and bottling agreement renewals, so contract terms are strategically important. Demand can also shift away from sugary beverages as health concerns rise, while raw material prices and exchange rates affect input costs across several Latin American markets. - **Dependence on The Coca-Cola Company** [high] — A large part of sales comes from products under Coca-Cola trademarks and licensing agreements. - **Demand pressure from health concerns** [medium] — Consumer and regulatory focus on obesity can reduce demand for sugar-containing beverages. - **Input cost volatility** [high] — Sugar, PET resin and packaging costs can swing materially and affect margins. - **Foreign exchange volatility** [high] — Operations span multiple countries with local-currency revenues and costs. - **Goodwill and intangible impairment** [high] — Distribution rights and goodwill are subject to annual impairment testing. - Dependence on Coca-Cola brand rights and bottling renewals - Health-driven demand shift away from sugary beverages - Volatility in sugar, PET resin and other packaging inputs - Foreign exchange exposure across multiple Latin American currencies - Impairment risk on goodwill and distribution rights ## Accounting A major accounting judgment is impairment testing for goodwill and indefinite-lived distribution rights, which depend on sales volumes, prices and discount rates. The company also recognizes discretionary contributions from The Coca-Cola Company as reductions in marketing expense when conditions are met, and Argentina is affected by closing exchange-rate treatment under IAS 29. Dividend recognition, fair value estimates and software capitalization also affect reported results and balance-sheet values. - **Goodwill and indefinite-lived intangible impairment** — Could create non-cash charges and reduce equity - **Discretionary contributions from The Coca-Cola Company** — Affects marketing expense and comparability across periods - **IAS 29 hyperinflation accounting in Argentina** — Impacts translation, inflation restatement and comparability - **Software capitalization and amortization** — Affects operating expenses and asset values - Annual impairment tests for goodwill and indefinite-lived distribution rights - Value-in-use estimates depend on volumes, prices and discount rates - Discretionary Coca-Cola contributions reduce marketing expense - Argentina is subject to closing exchange-rate treatment under IAS 29 - Software is capitalized and amortized over up to four years --- *Last updated: 2026-09-28T11:57:31.729231+00:00*