Compañía Cervecerías Unidas S.A. (CCU): Modelo de negócios Canvas [Jan-2025 Atualizado]

Mergulhe no brilho estratégico da Compañía Cervecerías Unidas S.A. (CCU), uma empresa de bebidas elétricas que criou com maestria seu modelo de negócios para dominar os mercados chilenos e latino -americanos. Com um portfólio diversificado que abrange bebidas alcoólicas e não alcoólicas, a CCU se transformou de uma cervejaria tradicional em uma empresa dinâmica de bebidas que aproveita estrategicamente parcerias, inovação e abordagens centradas no consumidor para criar vantagem competitiva sustentável. Descubra como essa empresa notável construiu um modelo de negócios robusto que continua a saciar a sede de milhões em toda a região.

Compañía Cervecerías Unidas S.A. (CCU) - Modelo de negócios: Parcerias -chave

Aliança estratégica com a Heineken International

A CCU tem uma parceria estratégica com a Heineken International criada em 2011, cobrindo a produção e a distribuição de cerveja no Chile. A partir de 2023, a parceria representa 35,5% da participação de mercado da CCU na CCU no Chile.

Detalhes da parceria	Métricas
Parceria estabelecida	2011
Contribuição da participação de mercado	35.5%
Volume anual de produção conjunta	124,6 milhões de litros

Joint ventures com fornecedores agrícolas

A CCU colabora com fornecedores agrícolas locais principalmente na região central do Chile.

• Contratos totais de fornecimento agrícola: 42 fornecedores locais
• Aquisição anual de cevada: 68.500 toneladas métricas
• Aquisição anual de lúpulo: 1.250 toneladas métricas

Acordos de distribuição

A CCU mantém extensas parcerias de distribuição na América Latina.

Região de distribuição	Número de parceiros de varejo
Chile	3.750 redes de varejo
Argentina	2.100 cadeias de varejo
Peru	1.450 cadeias de varejo

Parcerias de licenciamento

A CCU possui vários acordos internacionais de licenciamento de marcas de bebidas.

• Licença da marca Heineken
• Licença da marca Paulaner
• Licença de cerveja artesanal de Kunstmann

Colaborações de logística e transporte

A CCU faz parceria com vários provedores de logística para garantir uma distribuição eficiente de produtos.

Parceiro de logística	Volume anual de distribuição
Bluexpress Logistics	42,3 milhões de litros
Mercado LOGISTICA	36,7 milhões de litros
Transp. Falabella	28,5 milhões de litros

Compañía Cervecerías Unidas S.A. (CCU) - Modelo de Negócios: Atividades -chave

Produção de cerveja e bebida em várias instalações no Chile

A CCU opera 10 instalações de produção no Chile, com uma capacidade anual total de produção de aproximadamente 1,2 bilhão de litros de bebidas. As instalações de produção da empresa estão localizadas em regiões estratégicas, incluindo Santiago, Temuco e Coquimbo.

Localização da instalação	Capacidade de produção (litros/ano)	Linhas de produtos primárias
Santiago	450,000,000	Cerveja, refrigerantes
Temuco	250,000,000	Cerveja, água
Coquimbo	200,000,000	Vinho, espíritos

Desenvolvimento de produtos e inovação

A CCU investe aproximadamente 2,5% de sua receita anual em pesquisa e desenvolvimento, com foco em produtos inovadores de bebidas.

• Investimento anual de P&D: US $ 35 milhões
• Novos produtos lançamentos por ano: 12-15 bebidas diferentes
• Áreas de foco na inovação: bebidas de baixo álcool, bebidas funcionais, embalagens sustentáveis

Marketing e gerenciamento de marca

A CCU gerencia um portfólio diversificado de mais de 30 marcas de bebidas em várias categorias.

Categoria de marca	Número de marcas	Participação de mercado no Chile
Cerveja	8	65%
Refrigerantes	10	40%
Espíritos	7	30%

Gerenciamento da cadeia de suprimentos e logística de distribuição

A CCU mantém uma rede de distribuição abrangente que cobre o Chile, a Argentina e outros mercados latino -americanos.

• Total de Centros de Distribuição: 25
• Despesas de logística anual: US $ 120 milhões
• Tamanho da frota: 450 veículos de distribuição
• Volume diário de distribuição: 3,5 milhões de litros

Expansão de mercado e posicionamento da marca

A CCU tem presença estratégica em vários mercados latino -americanos com estratégias de expansão direcionadas.

País	Ano de entrada no mercado	Participação de mercado atual
Chile	Mercado nativo	70%
Argentina	1994	25%
Peru	2008	15%

Compañía Cervecerías Unidas S.A. (CCU) - Modelo de Negócios: Recursos -Principais

Instalações de produção e infraestrutura de fabricação

A CCU opera várias instalações de produção no Chile, com uma capacidade total de produção de aproximadamente 1.100 milhões de litros por ano. Os principais sites de produção incluem:

Localização	Tipo de instalação	Capacidade de produção
Quilicura, Santiago	Cerveja e refrigerantes	600 milhões de litros/ano
Temuco	Produção de cerveja	250 milhões de litros/ano
San Pedro de la Paz	Produção de vinho	250 milhões de litros/ano

Portfólio de marcas

A CCU mantém um forte portfólio de marcas com liderança de mercado em várias categorias de bebidas:

• Marcas de cerveja: Cristal (42,5% de participação de mercado), Kunstmann, Heineken
• Marcas de refrigerantes: Bilz, Pap, Royal
• Marcas de vinho: San Pedro, Tarapacá
• Marcas de Spirits: Mistral, Campanario

Rede de distribuição

As capas de infraestrutura de distribuição da CCU:

• Chile: 100% de cobertura nacional
• Argentina: presença em 24 províncias
• Mercados de exportação: 15 países globalmente
• Centros de logística: 12 locais estratégicos

Força de trabalho e tecnologia

A força de trabalho e os recursos tecnológicos incluem:

Categoria de recursos	Detalhes quantitativos
Total de funcionários	5.200 funcionários diretos
Investimento em P&D	US $ 12,5 milhões anualmente
Sistemas de controle de qualidade	Certificado ISO 9001: 2015
Infraestrutura tecnológica	SAP ERP, Tecnologias avançadas de cerveja

Recursos financeiros

Capacidades financeiras a partir de 2023:

• Total de ativos: US $ 2,3 bilhões
• Equidade do acionista: US $ 1,1 bilhão
• Receita anual: US $ 1,8 bilhão
• Classificações de crédito: BBB+ (estável)

Compañía Cervecerías Unidas S.A. (CCU) - Modelo de negócios: proposições de valor

Ampla gama de bebidas alcoólicas e não alcoólicas de alta qualidade

O portfólio de produtos da CCU inclui:

Categoria de bebida	Quota de mercado	Volume anual
Cerveja	52.3%	440 milhões de litros
Refrigerantes	29.7%	265 milhões de litros
Vinhos	12.5%	105 milhões de litros
Espíritos	5.5%	46 milhões de litros

Forte reconhecimento local e regional da marca

Principais marcas com posicionamento de mercado:

• Cerveja Cristal: 35,6% de participação de mercado no Chile
• Kunstmann Beer: líder do segmento premium no sul do Chile
• Pisco Alto del Carmen: 42,9% de participação de mercado em espíritos
• Refrigerante de Bilz: 68,3% de participação de mercado em bebidas carbonatadas tradicionais

Portfólio de produtos diversificados

Segmentos de produtos direcionados a diferentes preferências do consumidor:

Segmento do consumidor	Linhas de produtos	Penetração de mercado
Premium	Kunstmann, Escudo Platinum	18.7%
Intervalo intermediário	Cristal, guarda real	45.2%
Amigável ao orçamento	Lemão Zero, mamão	36.1%

Qualidade consistente do produto e inovação

Investimentos de inovação e métricas de qualidade:

• Investimento de P&D: 2,3% da receita anual
• Novos lançamentos de produtos: 12 por ano
• Certificações de qualidade: ISO 9001: 2015

Estratégia de preços competitivos

Estratégia de preços nas categorias de bebidas:

Categoria de produto	Preço médio	Competitividade de preços
Cerveja	US $ 1,80 por litro	5% abaixo da média de mercado
Refrigerantes	US $ 1,20 por litro	3% abaixo da média de mercado
Vinhos	US $ 6,50 por garrafa	Competitivo com marcas premium

Compañía Cervecerías Unidas S.A. (CCU) - Modelo de Negócios: Relacionamentos ao Cliente

Engajamento direto através de plataformas de mídia social

A CCU mantém a presença ativa das mídias sociais entre as plataformas com as seguintes métricas:

• Seguidores do Facebook: 532.000
• Seguidores do Instagram: 287.000
• Seguidores do Twitter: 145.000
• Taxa média de envolvimento: 3,2%

Programas de fidelidade do cliente

Nome do programa	Membros	Taxa de retenção anual	Gasto médio por membro
CLUBE CCU	218,500	67.3%	CLP 45.200
Programa de consumidores premium	87,300	72.5%	CLP 82.500

Patrocínio de eventos locais e atividades culturais

Investimento anual de patrocínio: CLP 1,2 bilhão

• Festivais de música patrocinados: 12
• Eventos esportivos: 8
• Eventos culturais: 15

Marketing digital e interação do consumidor

Orçamento de marketing digital: CLP 3,5 bilhões

Canal digital	Impressões mensais	Taxa de cliques
YouTube	2,1 milhões	4.7%
Google anúncios	1,8 milhão	3.9%

Estratégias de marketing personalizadas

Investimento de segmentação do consumidor: CLP 850 milhões

• Segmentos demográficos rastreados: 6
• Algoritmos de personalização: 3
• Pontos de dados coletados por consumidor: 42

Compañía Cervecerías Unidas S.A. (CCU) - Modelo de Negócios: Canais

Lojas de varejo e supermercados

A CCU distribui produtos por meio de principais redes de varejo no Chile, Argentina e outros mercados. Os principais pontos de distribuição incluem:

Canal de varejo	Penetração de mercado	Volume anual de vendas
Walmart Chile	Cobertura de 85%	CLP 127,3 bilhões
Lojas de varejo jumbo	72% de cobertura	CLP 98,6 bilhões
Argentina Carrefour	65% de cobertura	Ars 76,4 bilhões

Consumo local

A CCU serve bares, restaurantes e clubes através de redes de distribuição especializadas:

• Contas totais no local: 15.672
• Volume mensal de vendas: 2,4 milhões de litros
• Valor médio da conta: CLP 3,2 milhões

Plataformas de comércio eletrônico

Os canais de vendas digitais incluem:

Plataforma	Receita anual	Quota de mercado
Loja online da CCU direta	CLP 45,7 bilhões	12.3%
Aplicativos de entrega de terceiros	CLP 32,5 bilhões	8.7%

Representantes de vendas diretas

Detalhes da força de vendas:

• Total de Representantes de Vendas: 987
• Vendas anuais médias por representante: CLP 156 milhões
• Cobertura: 14 regiões no Chile e Argentina

Lojas de conveniência e lojas de bebidas especializadas

Distribuição através de canais especializados:

Tipo de canal	Número de pontos	Volume anual de vendas
Lojas de conveniência	4,523	CLP 87,6 bilhões
Lojas de bebidas especializadas	1,876	CLP 42,3 bilhões

Compañía Cervecerías Unidas S.A. (CCU) - Modelo de negócios: segmentos de clientes

Consumidores para jovens adultos (18-35 anos)

Segmento de mercado representando 32,4% do consumo de cerveja e bebida da CCU no Chile a partir de 2023.

Faixa etária	Porcentagem de consumo	Categorias de produtos preferidos
18-25 anos	16.2%	Cerveja, coquetéis prontos para beber
26-35 anos	16.2%	Cerveja artesanal, espíritos premium

Populações urbanas de renda média a alta

Mercado -alvo com renda familiar anual acima de CLP 15.000.000 (aproximadamente US $ 17.500).

• Concentração da população urbana: 87% em áreas metropolitanas
• Despesas médias mensais de bebidas: CLP 75.000
• Preferência premium do produto: 42% do segmento

Reuniões sociais e mercado de entretenimento

Segmento de mercado gerando CLP 320 bilhões em vendas anuais de bebidas.

Tipo de evento	Volume anual de consumo	Marcas CCU preferidas
Bares/clubes	45% do segmento total	Cristal, Kunstmann
Festas particulares	35% do segmento total	Pisco, Ron Mistral

Setores corporativos e de hospitalidade

Segmento B2B representando 22% da receita total da CCU em 2023.

• Correntes de restaurantes servidos: 750+
• Parcerias de hotéis: 280
• Vendas anuais B2B: CLP 180 bilhões

Mercados regionais de consumo no Chile e na América Latina

Distribuição geográfica dos segmentos de clientes da CCU nos mercados.

País	Quota de mercado	Principais segmentos de consumidores
Chile	68%	Urban, jovens profissionais
Argentina	18%	Consumidores de classe média
Outros mercados latino -americanos	14%	Populações urbanas emergentes

Compañía Cervecerías Unidas S.A. (CCU) - Modelo de Negócios: Estrutura de Custos

Aquisição de matéria -prima

Em 2022, os custos de aquisição de matérias -primas da CCU para bebidas e segmentos de alimentos totalizaram 341.274 milhões de pesos chilenos.

Categoria de matéria -prima	Custo anual de compras (CLP Million)
Cevada	87,543
Lúpulo	22,345
Materiais de embalagem	129,876
Açúcar	45,210

Despesas de fabricação e produção

As despesas de fabricação de 2022 atingiram 184.567 milhões de pesos chilenos.

• Custos de mão -de -obra: 62.345 milhões de CLP
• Depreciação: 41.223 milhões de CLP
• Consumo de energia: 27.890 milhões de CLP
• Manutenção: 18.654 milhões de CLP

Investimentos de marketing e publicidade

As despesas de marketing da CCU em 2022 foram de 81.456 milhões de pesos chilenos.

Canal de marketing	Investimento (CLP Million)
Marketing digital	22,345
Publicidade na televisão	35,678
Patrocínios	12,543
Mídia de impressão	10,890

Custos de distribuição e logística

As despesas de distribuição de 2022 totalizaram 112.345 milhões de pesos chilenos.

• Transporte: 67.890 milhões de CLP
• Armazenamento: 28.765 milhões de CLP
• Frete e manuseio: 15.690 milhões de CLP

Despesas de pesquisa e desenvolvimento

A CCU investiu 12.543 milhões de pesos chilenos em P&D durante 2022.

Área de foco em P&D	Investimento (CLP Million)
Desenvolvimento de novos produtos	7,654
Inovação do processo	3,210
Iniciativas de sustentabilidade	1,679

Compañía Cervecerías Unidas S.A. (CCU) - Modelo de negócios: fluxos de receita

Vendas de cerveja e bebidas alcoólicas

Em 2022, o segmento de cerveja da CCU gerou CLP 468.832 milhões em receita. As principais marcas de cerveja incluem:

Marca	Quota de mercado	Receita anual (CLP Million)
Cristal	36.5%	170,883
Kunstmann	8.2%	38,444
Escudo	12.7%	59,560

Linhas de produtos de bebidas não alcoólicas

A receita de bebidas não alcoólicas em 2022 atingiu o CLP 312.554 milhões. Principais categorias de produtos:

• Refrigerantes: CLP 156.277 milhões
• Água: CLP 87.516 milhões
• Néctar e suco: CLP 68.761 milhões

Receitas de exportação de mercados internacionais

As receitas do mercado internacional em 2022 totalizaram o CLP 95.443 milhões, com os principais destinos de exportação:

País	Receita de exportação (CLP Million)
Peru	42,699
Bolívia	31,896
Uruguai	20,848

Licenciamento e receita de parceria de marca

As receitas de licenciamento em 2022 totalizaram 23.861 milhões de CLP, incluindo:

• Parcerias de marca internacional: CLP 15.240 milhões
• Licensagem da marca local: CLP 8.621 milhões

Vendas de hospitalidade e consumo no local

As vendas no local em 2022 atingiram o CLP 87.516 milhões, com o colapso:

Canal	Receita (CLP Million)
Bares e restaurantes	62,387
Hotéis e eventos	25,129

Compañía Cervecerías Unidas S.A. (CCU) - Canvas Business Model: Value Propositions

You're looking at Compañía Cervecerías Unidas S.A. (CCU)'s core offerings as of late 2025. The value they deliver centers on being the go-to beverage partner across several key categories in the Southern Cone. This isn't just about selling one thing; it's about breadth and scale.

Single-source provider of a multi-category beverage portfolio (Beer, Wine, Non-Alcoholic).

CCU's proposition is built on offering consumers and retailers a comprehensive beverage solution. This means you can source beer, wine, and non-alcoholic options from one primary supplier, simplifying logistics and maximizing shelf space utilization for partners. For instance, in Q3 2025, while beer volumes contracted in line with the industry, the Wine Operating segment saw a 4.8% rise in average prices, and the International Business Operating segment volume expanded 5.3% (excluding some acquisitions) (Source 7, 11). The company supports this with physical infrastructure, operating 8 Non-Alcoholic plants and 5 Spirits plants (Source 10).

Regional market leadership (Chile's largest brewer, second largest wine producer).

In the Chilean beer market, CCU holds a commanding position, which is a massive value driver for the business. According to data, CCU commands a 65 percent market share in the Chilean beer segment (Source 6). While the overall consolidated organic volumes were down 1.8% in Q1 2025, the stability of this core market share is crucial (Source 3, 12). The company is also positioned as the second largest wine producer in the region, though specific production volume metrics for this ranking aren't immediately available in the latest releases.

You're seeing a company that dominates its home turf, which is the foundation for everything else.

The scale of operations across categories provides a clear picture of their market footprint:

Metric	Value/Position	Context/Date
Chile Beer Market Share	65%	Chile (Source 6)
Q3 2025 Wine Volume Change	-3.0%	Compared to Q3 2024 (Source 11)
Q1 2025 Consolidated Organic Volume Change	-1.8%	Compared to Q1 2024 (Source 3, 12)
Market Cap (as of March 31, 2025)	2.8 Bn USD	Total (Source 10)

Access to premium global brands via local production and distribution.

CCU doesn't just rely on its own labels; it acts as a local manufacturing and distribution hub for international heavyweights. This hybrid model allows them to immediately tap into consumer demand for global tastes without the full risk of importing everything. For example, in Chile, CCU has licensing agreements to produce and distribute brands like Blue Moon, Miller, Coors, and Sol (Source 6). This access is key to capturing the premiumization trend that the company is strategically positioned to capitalize on (Source 1).

Value-for-money options across mainstream and premium segments.

The company manages a portfolio designed to cover different consumer price points. While they are focused on premiumization, their core strength lies in balancing this with mainstream offerings. In Q1 2025, the company noted that average prices were up 4.9% in Chilean pesos due to revenue management efforts, but this was partially offset by a negative mix effect in the portfolio (Source 3, 12). This suggests active management to maintain value perception while pushing prices up where possible. The strategy involves focusing on brand equity and sales execution to address new consumer trends (Source 3).

Commitment to sustainability (a core pillar of the 2025-2027 strategy).

Sustainability is explicitly codified as a core component of the forward-looking plan. CCU's strategic plan for 2025-2027 is built on three pillars: Profitability, Growth, and Sustainability (Source 1, 2, 4, 5). This commitment is operationalized through their Juntos por un Mejor Vivir strategy, which focuses on two internal pillars: our Planet and our People (Source 3). The focus on efficiency across operating segments, such as the drop in MSD&A expenses in Q3 2025 due to efficiencies (Source 7), indirectly supports sustainability goals by optimizing resource use.

The sustainability focus is formalized through:

• Inclusion as a core pillar of the 2025-2027 Strategic Plan.
• Execution of the Juntos por un Mejor Vivir strategy.
• Focus on the two pillars: our Planet and our People.

Finance: draft 13-week cash view by Friday.

Compañía Cervecerías Unidas S.A. (CCU) - Canvas Business Model: Customer Relationships

You're managing relationships across a diversified beverage portfolio spanning beer, wine, soft drinks, and water across multiple South American markets. The scale of Compañía Cervecerías Unidas S.A.'s (CCU) operations, with a Trailing Twelve Month (TTM) revenue of $3.15 Billion USD as of September 30, 2025, dictates a multi-tiered approach to customer engagement.

Dedicated B2B sales teams for key account management (supermarkets, wholesalers)

The core of the high-volume relationship strategy centers on managing the largest B2B accounts, which are critical given that the company generates maximum revenue from its Chile operating segment. These relationships require dedicated Key Account Management (KAM) teams focused on strategic alignment, moving beyond simple transactions. While the exact percentage of revenue derived from these top-tier accounts isn't public, the structure implies a focus on the top tier of volume movers, such as major supermarket chains and large wholesalers. The overall business context shows that in Q3 2025, consolidated net sales were down 1.1%, meaning securing and growing these large accounts is paramount to reversing negative top-line trends.

Transactional service model for small retailers and on-premise venues

For the vast network of smaller retailers and on-premise venues (bars, restaurants), the relationship model shifts to a high-frequency, low-touch transactional service. This model prioritizes efficient distribution, order fulfillment, and product availability over deep strategic planning for each individual outlet. This high-volume, lower-complexity segment supports the overall TTM revenue base of $3.15 Billion USD. The operational reality is that a significant portion of the company's volume, which saw 1.2% growth in Q3 2025, flows through this transactional channel, demanding robust logistics and field execution.

Digital engagement and personalized offers via D2C e-commerce platforms

Compañía Cervecerías Unidas S.A. is integrating digital engagement to capture direct consumer insights and sales, though specific D2C revenue contribution remains proprietary. This channel leverages technology to offer personalized experiences, a necessary countermeasure as per capita alcohol consumption in Chile has shown a decreasing trend, moving from 5.3 liters of pure alcohol in 2019 to 5.1 in 2024, with early 2025 trends suggesting continued decline. The investment in customer-facing marketing reflects this need for direct connection.

The investment in marketing reflects the focus on brand engagement across all channels:

Metric	Period	Value/Change
Consolidated MSD&A Expenses Growth	Q3 2025	3.2% (below inflation)
MSD&A as % of Net Sales Increase	Q3 2025	46 basis points (despite efficiency)
Marketing Expenses Impact	Q3 2025	Higher marketing expenses drove an increase of 78 basis points in MSD&A as a percentage of net sales in one segment report.

Long-term, strategic relationships with international brand licensors

The International Business segment, which includes operations in Argentina, Bolivia, Colombia, Paraguay, and Uruguay, necessitates long-term, strategic relationships with any international brand licensors. These partnerships are crucial for maintaining a diverse portfolio and navigating complex international regulatory and currency environments. For instance, in Q2 2025, the International Business segment saw net sales contract 11.4%, driven by price declines due to the Argentine peso devaluation, underscoring the need for stable, strategic agreements that mitigate foreign exchange risk.

Brand-specific community building and experiential marketing

Community building is essential for brand equity, especially in categories facing consumption volume pressure. This is supported by marketing spend, as evidenced by the increase in MSD&A expenses. The industry trend suggests that 74% of Fortune 1000 marketers expected to increase experiential marketing spending in 2025, a sentiment Compañía Cervecerías Unidas S.A. appears to share through its reported higher marketing expenses. The goal is to create memorable, shareable experiences that drive brand loyalty, a key factor when consumer preferences are shifting away from traditional consumption patterns.

• Chile Per Capita Alcohol Consumption (2019): 5.3 liters (pure alcohol)
• Chile Per Capita Alcohol Consumption (2024): 5.1 liters
• Q1 2025 Organic Volume Change: -1.8%
• Q3 2025 Volume Change (Chile Domestic): -6.3%

Compañía Cervecerías Unidas S.A. (CCU) - Canvas Business Model: Channels

You're looking at how Compañía Cervecerías Unidas S.A. (CCU) gets its products-beer, wine, and non-alcoholic beverages-into the hands of the consumer across its operating geographies. The channel strategy is highly segmented to match the product and market maturity.

For the core beer business, the distribution relies heavily on established off-premise retail, which is where most consumers stock up. The breakdown of beer sales across these primary channels is quite concentrated, which you can see here:

Channel Type	Specific Venue	Approximate Share of Beer Sales
Off-premise Retail	Large supermarkets	65%
Off-premise Retail	Convenience stores and small retailers	22%
On-premise Sales	Bars, restaurants, and hotels	13%

This structure shows a clear preference for high-volume, traditional grocery channels for beer consumption. Still, the on-premise channel, though smaller at $\mathbf{13\%}$, is crucial for brand visibility and premium experiences.

When you look at the Wine Operating Segment, the channel focus shifts significantly toward international reach. This segment commercializes Wine and Sparkling Wine, primarily through an extensive export network. That network currently reaches over 80 countries.

The company also engages with modern sales methods, though specific revenue contribution data for this channel isn't always isolated in the primary segment reporting. Compañía Cervecerías Unidas S.A. (CCU) uses:

• Direct-to-Consumer (D2C) e-commerce platforms, such as La Barra S.A., which is included within the Chile Operating segment's results.

To give you a sense of the overall scale of the business these channels support, the trailing twelve months (TTM) revenue as of late 2025 was reported at $3.15 Billion USD. The Chile segment remains the largest contributor to overall revenue, but the International Business segment showed significant volume expansion in recent quarters, driven by markets like Argentina, Bolivia, Paraguay, and Uruguay.

Here's a quick look at the operational segments that feed these channels, based on the Q2 2025 volume performance:

• Chile Operating Segment: Volume growth of 3.2%.
• International Business Operating Segment: Volume expansion of 79.0% (9.8% organic).
• Wine Operating Segment: Volume growth of 4.2%.

Finance: draft 13-week cash view by Friday.

Compañía Cervecerías Unidas S.A. (CCU) - Canvas Business Model: Customer Segments

You're looking at the customer base for Compañía Cervecerías Unidas S.A. (CCU) as of late 2025. This company serves a wide spectrum, from massive retail chains to individual consumers, across its core markets in Chile, Argentina, Bolivia, Colombia, Paraguay, and Uruguay, plus its international wine business. Honestly, the structure is quite segmented by geography and product type.

The overall financial scale gives context: Compañía Cervecerías Unidas S.A. (CCU) reported a trailing twelve months (TTM) revenue of $3.15 Billion USD as of late 2025. For the third quarter ending September 30, 2025, the reported revenue was 658.63B CLP.

Here is how the customer base breaks down, primarily using the latest available channel data from September 30, 2024, which reflects the structure supporting the 2025 results:

B2B: Supermarket chains and large wholesalers in six Latin American countries.

This group is critical for volume distribution. In the Chilean domestic market, this channel, which aligns with the Supermarket segment, accounted for 30% of sales by channel. For the International Business segment, the Supermarket channel represented 25% of sales by channel.

B2B: Small and medium-sized independent retailers (mom-and-pop stores).

These smaller outlets are served through the Retail and Indirect channels. In Chile, the Retail channel accounted for 49% of sales by channel. The Indirect channel, which often serves smaller or specialized B2B partners, made up 21% of the Chilean domestic sales by channel. For the International Business segment, the Indirect channel is the largest at 65% of channel sales.

B2C: Mass market consumers across all beverage categories.

These consumers are reached through the Retail and Supermarket channels. The combined share for these channels in Chile is 79% (49% Retail + 30% Supermarket). This segment drives the bulk of the volume for beer, soft drinks, and water.

B2C: Premium/craft beverage consumers seeking imported and specialty brands.

This group is targeted within the Beer, Spirits, and Wine categories. While specific revenue percentages for the premium tier aren't explicitly stated for 2025, the Wine Operating Segment shows a clear split in its customer behavior: domestic wine volumes contracted by 6.3%, but export volumes grew by 7.2% in the third quarter of 2025 compared to the prior year. This suggests international importers are a key growth vector for the higher-value wine portfolio.

International wine importers and distributors.

These are the primary B2B customers for the Wine Operating Segment's exports. As noted, Wine Operating Segment export volumes grew 7.2% in Q3 2025 year-over-year. In the International Business segment overall, the Indirect channel, which captures many distributor relationships, represents 65% of channel sales.

You can see the channel distribution comparison below, which helps map the B2B/B2C split across the main operating areas. Remember, these channel percentages are based on data from September 30, 2024, but they represent the structure supporting the 2025 figures:

Channel Type	Chile Domestic Sales (as % of Channel)	International Business Sales (as % of Channel)
Retail	49%	10%
Supermarket	30%	25%
Indirect	21%	65%

The structure clearly shows the Chilean market leans heavily on direct consumer access via Retail and Supermarkets, whereas the International Business relies significantly more on indirect channels, likely including those large wholesalers and specialized importers you mentioned. If onboarding takes 14+ days, churn risk rises, especially with independent retailers who need quick stock turns.

Finance: draft 13-week cash view by Friday.

Compañía Cervecerías Unidas S.A. (CCU) - Canvas Business Model: Cost Structure

You're looking at the hard numbers that drive Compañía Cervecerías Unidas S.A.'s expenses as of late 2025. It's all about managing commodity exposure and currency fluctuations, especially in the South American context.

The Cost of Sales, which bundles your primary raw materials and direct manufacturing, represented 57.5% of consolidated Net Sales for the third quarter of 2025. This is up 79 bps from the same period last year, showing cost pressures are still present despite some relief.

Cost Component (Consolidated 3Q25)	Amount (CLP million)	% of Net Sales (3Q25)
Net Sales	658,628	100.0%
Cost of Sales	378,692	57.5%
Direct Costs (Sub-component of Cost of Sales)	288,182	43.7%
Manufacturing Costs (Sub-component of Cost of Sales)	90,510	13.7%
Gross Profit	279,936	42.5%
Marketing, Sales, Distribution and Administrative (MSD&A) Expenses	242,434	36.8%

The pressure on the Gross Margin is clearly linked to input costs. For instance, in the Chile Operating segment, cost pressures stemmed from a higher cost of wine and notably, higher U.S. dollar-linked packaging costs.

On the raw material side, the Chile segment saw some offset from lower prices in specific inputs:

• Raw material costs for sugar.
• Raw material costs for fruit pulp.
• Raw material costs for malt.

Distribution and logistics expenses are embedded within the MSD&A line item. For the consolidated entity in Q3 2025, these expenses saw a positive development:

• Consolidated MSD&A expenses in CLP dropped by 4.7%.
• This drop was attributed to efficiencies and a favorable translation currency effect from Argentina.

Regarding Capital Expenditures (CapEx) for plant and equipment maintenance/upgrades, specific figures for Compañía Cervecerías Unidas S.A. for the relevant period aren't explicitly broken out in the provided consolidated statements, which focus on Cost of Sales and MSD&A. However, the Chile Operating segment noted higher manufacturing costs related to the CirCCUlar PET recycling plant investment.

Compañía Cervecerías Unidas S.A. (CCU) - Canvas Business Model: Revenue Streams

You're looking at how Compañía Cervecerías Unidas S.A. (CCU) actually brings in the money, which is key for understanding its stability. Honestly, it's a mix of high-volume domestic sales and higher-margin international plays.

The biggest chunk of revenue comes from B2B sales of Beer, both within Chile and across its International Business segment. In the core Chilean market, volumes contracted by 6.3% in the third quarter of 2025, which is in line with the broader industry trend there. Still, the International Business Operating segment posted a volume expansion of 5.3% in the same period, though net sales contracted 8.9% due to lower average prices in Chilean pesos.

Next up is the B2B side for Non-Alcoholic Beverages. This stream is powered by the PepsiCo franchise, covering soft drinks, water, and juices across their operating territories. This provides a steady, non-alcoholic counterpoint to the core beer business.

Sales of Wine and Sparkling Wine are a distinct revenue stream, with a notable focus on export markets. For the Wine Operating segment specifically, the top line saw an expansion of 1.6% in Q3 2025, driven by a 4.8% rise in average prices, even as volumes were 3.0% lower overall. The volume contraction domestically was partially offset by a 4.5% growth in exports.

The overall health check for the top line shows the following for the most recent quarter. The quarterly consolidated revenue reached $704.86 million USD in Q3 2025. For context, the net sales in CLP for the quarter ending September 30, 2025, were 658,628 million CLP, which was a 1.1% decrease compared to Q3 2024.

Here's a quick look at some of the key financial metrics we have for late 2025:

Metric	Value	Period/Context
Consolidated Net Sales	658,628 million CLP	Q3 2025
Consolidated Net Sales Change	-1.1%	Q3 2025 vs Q3 2024
Wine Operating Segment Top Line	1.6% expansion	Q3 2025
TTM Revenue (Trailing Twelve Months)	$3.15 Billion USD	As of 2025

Finally, Compañía Cervecerías Unidas S.A. (CCU) also generates revenue from spirits, cider, and pisco sales across its various markets. This diversifies the alcoholic beverage portfolio beyond just beer and wine.

You can see the revenue streams break down into these core areas:

• Beer sales, the largest volume driver in Chile.
• Non-alcoholic beverages under the PepsiCo franchise.
• Wine and Sparkling Wine, with growing export contribution.
• Spirits, cider, and pisco sales mix.

Finance: draft 13-week cash view by Friday.