Compañía Cervecerías Unidas S.A. (CCU): ANSOFF MATRIX [Dec-2025 Updated]

You're looking at Compañía Cervecerías Unidas S.A.'s (CCU) game plan for 2025-2027, and honestly, it's a masterclass in navigating a volatile region by focusing squarely on profitability. We see them immediately defending their Chilean base by hiking average prices over 2.4% and driving digital adoption, which is classic Market Penetration. But the real action is the push into new Latin American countries and launching premium, higher-margin products like low-alcohol options and revitalized export wines. They are even eyeing adjacent plays, like entering the ready-to-drink cocktail space abroad or testing snack foods in Bolivia. This matrix cuts right to the chase, showing you exactly where CCU is placing its bets for growth, so keep reading to see the concrete steps behind each vector.

Compañía Cervecerías Unidas S.A. (CCU) - Ansoff Matrix: Market Penetration

You're looking at how Compañía Cervecerías Unidas S.A. (CCU) is pushing harder in its existing Chilean market, which is the core of the Market Penetration strategy here. The focus is on selling more of what you already make to the customers you already know, often by adjusting price or increasing marketing spend.

The revenue management efforts in Chile during the third quarter of 2025 directly targeted pricing. The Chile Operating segment saw its top line expand by 1.8%, which was achieved through a 2.4% increase in average prices. This price lift was a direct result of those revenue management initiatives across all categories.

Still, volume was a headwind in the core market. For the Chile Operating segment, volumes were 0.6% lower in the third quarter of 2025. That overall segment decline was driven by a 6.3% decrease in the Chile domestic market volume, though this was partially offset by a 4.5% growth in exports from Chile.

Here's a quick look at the key Q3 2025 performance drivers for the Chile Operating segment:

To defend brand equity and market share amidst soft industry demand, marketing investment increased. In the Chile Operating segment, MSD&A expenses (Marketing, Sales, Distribution, and Administrative) grew by 3.2%, which was below inflation. However, as a percentage of Net sales, MSD&A expenses still increased by 46 basis points, reflecting those higher marketing expenses.

The push for profitability also involved optimizing operations. Consolidated MSD&A expenses in Chilean pesos actually dropped by 4.7%, which management attributed to efficiencies alongside a favorable translation currency effect from Argentina. This focus on efficiencies helped the Chile Operating segment expand its EBITDA margin.

Driving direct-to-consumer volume through digital channels is a clear strategic move. Compañía Cervecerías Unidas S.A. (CCU) continues to push its B2B platform, "Mi Carro," aimed at retailers, and its e-commerce sales channel, "La Barra," which has a growing regional presence. The company is developing these platforms to maintain a close relationship with consumers and capture volume through these digital routes.

• The e-commerce platform "La Barra" successfully launched in 2019 and is expanding regionally.
• The B2B platform "Mi Carro" is specifically aimed at retailers.
• The company is developing other innovation programs like "Innpacta" and "Despega."

Finance: draft 13-week cash view by Friday.

Compañía Cervecerías Unidas S.A. (CCU) - Ansoff Matrix: Market Development

You're looking at how Compañía Cervecerías Unidas S.A. (CCU) plans to push its existing products into new geographic territories. This is Market Development in action, building on recent performance to secure future scale.

Accelerate volume growth in the International Business segment, building on the Q3 2025 EBITDA expansion of 73.1%.

The International Business Operating segment demonstrated significant profitability improvement in the third quarter of 2025. Specifically, the EBITDA for this segment grew by 73.1%, moving from CLP 3,954 million to CLP 6,845 million year-over-year in Q3 2025. This strong financial result was achieved despite a challenging scenario in Argentina. On the volume side, the segment posted a 5.3% expansion in Q3 2025, though net sales contracted by 8.9% due to 13.5% lower average prices when measured in Chilean pesos.

Expand the existing beer and non-alcoholic portfolio into new, non-core Latin American countries beyond the current six.

Compañía Cervecerías Unidas S.A. (CCU) currently has operations in six key Latin American countries, plus participation in Peru. The current footprint includes Chile (core market), Argentina, Bolivia, Colombia, Paraguay, and Uruguay. The strategy here is to identify and enter new markets outside this established base to deploy the current beer and non-alcoholic beverage portfolio.

Here's a snapshot of the current international footprint and relevant recent volume data:

Leverage the 2024 consolidation of 'Aguas de Origen' to push water products into new Argentine regions.

The consolidation of 'Aguas de Origen' (ADO) in Argentina began in the third quarter of 2024. This move brought the water business fully under the consolidated structure. The organic figures for Q3 2025 exclude ADO's figures from the prior year's comparison to show true operational growth. The focus now is using this consolidated platform to drive water product penetration into additional regions within Argentina, beyond where ADO was initially strong.

Capitalize on the Paraguay partnership with the Vierci Group to deepen market presence and distribution.

Compañía Cervecerías Unidas S.A. (CCU) finalized an association agreement in October 2024, acquiring a 51% stake in key entities from the Vierci Group, including AV S.A., which holds the PepsiCo license for beverages and snacks distribution. This partnership, which began consolidation in the fourth quarter of 2024, makes Paraguay the second country, after Chile, where CCU controls the PepsiCo license. The combined entity aims to reach more than 32,000 points of sale.

Key aspects of the Paraguay expansion include:

• Ownership stake: 51% for CCU, 49% for Vierci Group.
• Portfolio integration: Addition of PepsiCo beverage and snack lines.
• Historical tie: Vierci Group has been a distributor for CCU's VSPT Wine Group for over 30 years.

Target US export growth for premium Chilean wine brands, where consumption trends are challenging globally.

For the Wine Operating segment, exports showed some resilience in Q3 2025, growing by 4.5% in volume, which partially offset the 6.3% volume contraction in the Chile domestic market. Looking at the broader Chilean wine export picture to the US market in 2024, overall exports grew by 12.5%, with bottled wine shipments surging by more than 25%. The strategic focus is on the premium space, as lower-priced varietals face sustained decline.

The US market segmentation for Chilean wine exports shows clear value opportunity:

• Wines selling for under $10 per bottle account for 81% of volume.
• Wines in the $10-$20 range represent only 17% of volume.
• The $10-$20 segment captures nearly 30% of the total value.

For the first half of 2025, export markets grew by 6.8% in value, supported by a 4.0% rise in volumes. Premium and higher-end products accounted for 54.3% of sales in Q2 2025 for one major Chilean wine producer, showing the premiumization trend is gaining traction.

Compañía Cervecerías Unidas S.A. (CCU) - Ansoff Matrix: Product Development

Product development at Compañía Cervecerías Unidas S.A. (CCU) centers on shifting the portfolio mix toward higher-value offerings across its core categories to counteract volume softness in certain markets.

For low-alcohol flavored products, the category itself is showing significant momentum; in the United States, the non-alcoholic beer category was up 22.2% year-to-date in 2025, with on-premise sales up 26.4% so far in 2025. Historically, in the Chilean market, non-alcoholic beer sales revenue was projected to increase by another 100 percent between 2020 and 2025.

To address the Chilean alcoholic segment mix, the focus on premiumization is evident. Compañía Cervecerías Unidas S.A. (CCU) holds a 65 percent market share in the Chilean beer market. The proportion of the company's sales attributed to premium beers has grown from 27 percent to 43 percent in the past two years alone. This strategy aims to increase average prices and mitigate negative mix effects.

Developing innovative, higher-margin non-alcoholic beverages is a key strategic pillar, aligning with the overall plan to focus on high-margin innovations. While specific margin data for new CCU non-alcoholic products isn't public, the overall consolidated EBITDA grew 6% in the first quarter of 2025, indicating that revenue management and mix improvements are taking hold.

Revitalizing the Wine Operating segment relies heavily on export performance, as the domestic market in Chile has shown contraction. In the third quarter of 2025, the Wine Operating segment saw export volumes grow by 4.5%, while the Chile domestic market contracted by 6.3%. Average prices for the segment rose by 4.8% in the same period, largely due to the weaker Chilean peso's impact on export revenues. This focus on higher-priced export-oriented varietals is crucial for segment revenue expansion, which posted a top-line expansion of 1.6% in Q3 2025.

Expansion in the spirits portfolio follows a successful innovation track record. The company's total assets stood at CLP 3,989,716,990 thousand as of the end of 2024, reflecting strategic investments across its categories.

Here are key performance indicators for the segments relevant to Product Development initiatives, based on the latest available reporting periods:

The overall strategy is supported by the company's financial scale, with total assets reaching CLP 3,989,716,990 thousand in 2024.

The focus on innovation is reflected in the following strategic areas:

• Launch low-alcohol products to capture growth in mindful consumption trends.
• Introduce new premium craft beer varieties to lift the Chilean alcoholic segment mix.
• Develop higher-margin non-alcoholic beverages for the Chilean market.
• Revitalize Wine by focusing on export-oriented, higher-priced varietals.
• Expand Spirits with new pisco and cider flavors following established innovation success.

Compañía Cervecerías Unidas S.A. (CCU) - Ansoff Matrix: Diversification

You're looking at the Diversification quadrant of the Ansoff Matrix for Compañía Cervecerías Unidas (CCU), which means moving into new products in new markets. This is the highest-risk, highest-potential-reward path, and it's especially relevant given the recent headwinds; for instance, the recent Q3 2025 net income contracted by 47.6%, signaling that relying solely on existing categories and geographies is a tough play right now. The company's trailing twelve-month revenue as of late 2025 stands at $3.15 Billion USD, but organic consolidated volumes were down 1.8% in 1Q25, which shows the pressure on core operations.

The diversification strategy must leverage the existing, albeit complex, regional footprint. Compañía Cervecerías Unidas (CCU) already operates across six geographies, including being the second-largest brewer in Argentina and having established presences in Bolivia, Paraguay, Uruguay, and Colombia. In Bolivia, the company holds a 51% stake in Bebidas Bolivianas S.A. after increasing its participation from an initial 34% in 2014 to 2018. In Colombia, a major move involved building a 3-million-hectoliter plant near Bogota, which opened in 2019. These existing structures are the launch pads for true diversification.

Here's a look at the scale and recent performance metrics that inform the need for this aggressive strategy:

The proposed diversification moves target specific, high-potential adjacencies, often supported by broader market dynamics. For example, entering the ready-to-drink (RTD) cocktail market in new international geographies like Mexico or Peru addresses the consumer demand for variety and premiumization seen across the region. The general functional beverage market is estimated at $250 billion in 2025, projected to hit $450 billion by 2033, showing a clear runway for new product development in this space.

The specific diversification vectors Compañía Cervecerías Unidas (CCU) might pursue include:

• Enter the ready-to-drink (RTD) cocktail market in new international geographies like Mexico or Peru.
• Acquire a local craft brewery in a new South American market to gain immediate access to a niche, high-growth consumer base.
• Develop a functional beverage line (e.g., energy drinks, fortified water) and launch it in the International Business segment.
• Utilize existing distribution networks in Bolivia and Paraguay to introduce a new line of premium snack foods.
• Invest in sustainable packaging technology and market it as a new, premium product feature across all new markets.

The functional beverage development is particularly interesting because subcategories like gut-health, high-protein, and energy-boosting products are growing at double-digit rates, outpacing traditional segments. Furthermore, the snack aisle is seeing a rise in 'better-for-you' (BFY) options featuring bold, global flavors, which aligns with the plan to introduce premium snack foods using established distribution in Paraguay and Bolivia. The investment in sustainable packaging technology also taps into a major theme for 2025, with a forecast shift towards compostable packaging.

To track the initial financial impact of these international moves, you'd want to monitor the International Business Operating segment's performance, which organically expanded its EBITDA by 28.1% in 1Q25, largely driven by Argentina. This segment's ability to drive growth is key to offsetting the soft consumption seen in the core Chile Operating segment, whose EBITDA decreased by 2.4% in the same period.

Finance: draft 13-week cash view by Friday.