The strong Q1 results confirm earnings momentum from 2025. With bottling agreements extending to 2027-2028 and no impairment concerns, the stock may see positive re-rating. Monitor next quarter for sustainability of Brazil and Paraguay growth and any impact from Argentine hyperinflation.
Price Chart
Executive Summary
Embotelladora Andina reported strong Q1 2026 results with revenue up 4.1% to Ch$924.3 billion and net income surging 26% to Ch$100.4 billion, driven by growth in Chile, Brazil, and Paraguay. All operating segments remained profitable, with Brazil and Paraguay posting double-digit revenue growth. The results reinforce the positive momentum from the 2025 annual report.
Key Facts
- Q1 2026 revenue increased 4.1% to Ch$924,262,961 thousand vs Ch$888,178,887 thousand in Q1 2025.
- Net income rose 26.0% to Ch$100,358,724 thousand from Ch$79,681,031 thousand.
- Earnings per Series A share: Ch$99.87 (up 25.3% from Ch$79.71).
- All four geographic segments profitable: Chile +3%, Brazil +9.5%, Paraguay +18.9%, Argentina -5.0%.
- No impairment indicators for goodwill or distribution rights as of March 31, 2026.
- Cash flow from operations was Ch$89.4 billion vs Ch$101.7 billion in prior year.
- Total equity increased to Ch$1,406.5 billion from Ch$1,196.6 billion at year-end 2025.
Financial Impact
Revenue growth of ~Ch$36 billion, net income growth of ~Ch$20.7 billion vs prior year Q1.
Risk Factors
- Argentina hyperinflation and currency devaluation (ARS/CLP depreciation).
- Bottling agreement renewals with Coca-Cola in Chile (Feb 2027), Argentina (Sep 2027), Brazil (Oct 2027), Paraguay (Mar 2028).
- Foreign exchange volatility (BRL/CLP, ARS/CLP) impacting reported results.
- Commodity price risk for sugar and PET resin.
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 4 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 6-K Filing (Primary) | 0001104659-26-056863 |
| Document: 0001104659-26-056863-index-headers.html | 0001104659-26-056863 |
| Document: 0001104659-26-056863-index.html | 0001104659-26-056863 |
| Document: 0001104659-26-056863.txt | 0001104659-26-056863 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 27, 2026 today | 6-K | $23.61 | awaiting T+20 | — | $23.61 (+0.00%) |
Sep 30, 2026 27d ago | 6-K | $24.27 | awaiting T+20 | — | $23.61 (−2.73%) |
Aug 7, 2026 11w ago | 6-K | $23.99 $23.40 | ▼ −2.46% | ▼ −2.06% | $23.61 (−1.58%) |
May 7, 2026 24w ago | 6-K | $21.92 $23.60 | ▲ +7.68% | ▲ +4.54% | $23.61 (+7.72%) |
US Market Status
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