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COMPANIA CERVECERIAS UNIDAS S.A. ANNOUNCES RESULTS FOR THE SIX MONTHS ENDED JUNE 30,1993

 SANTIAGO, Chile, Aug. 10 /PRNewswire/ -- Compania Cervecerias Unidas S.A. (CCU) (NASDAQ: CCUUY), today announced today its consolidated financial results stated in Chilean GAAP (accounting for inflation and in pesos of constant value) for the six months ended June 30, 1993.
 Highlights include:
 -- Sales increased 16.3 percent to CH$55.3 billion (compared to CH$47.6 billion in the first half of 1992.
 -- Operating income increased 54.2 percent to CH$14.0 billion (compared to CH$9.1 billion in 1992)
 -- Net income increased 33.9 percent to CH$12.4 billion (compared to CH$9.2 billion in 1992).
 -- Earnings per ADR increased 18.8 percent to US$.59 compared to US$.50 in the comparable 1992 period.
 CCU, which listed its American Depositary Receipts on NASDAQ in September 1992, is Chile's largest producer, bottler and distributor of beer. CCU's flagship brand, Cristal, is the country's most popular beer, accounting for nearly 60 percent of all beer sales in Chile. The company is also the second largest producer, bottler and distributor of carbonated and non-carbonated soft drinks in Chile.
 COMPANIA CERVECERIAS UNIDAS, S.A.
 Results for the six month period ended June 30 in Chilean GAAP
 (In thousands of CH$, except per share)
 6/30/93 Percent change 6/30/92
 Net sales 55,332,241 16.34 47,560,842
 Cost of sales (23,116,198) 7.49 (21,505,181)
 Gross margin 32,216,043 23.64 26,055,661
 Selling and administrative
 expenses (18,158,177) 7.20 (16,939,272)
 Operating income 14,057,866 54.20 9,116,389
 Non-operating results:
 Financial income 695,997 368.76 148,475
 Income from affiliated
 companies 337 (88.48) 2,926
 Other non-operating income 193,638 (93.48) 2,971,114
 Total 889,972 (71.50) 3,122,515
 Financial expense (1,453,815) (16.47) (1,740,368)
 Other non-operating expense (420,706) 46.06 (288,033)
 Monetary correction 157,763 55.79 101,264
 Total (1,716,758) (10.92) (1,927,137)
 Total non operating (826,786) N/M 1,195,378
 Income before income taxes 13,231,080 28.31 10,311,767
 Income tax provision (860,177) (19.62) (1,070,100)
 Net income 12,370,903 33.86 9,241,667
 Minority interest (348) (30.54) (501)
 Net income 12,370,555 33.86 9,241,166
 Shares outstanding
 -- June 30 258,883,002 N/M 229,761,428
 Earnings per share 47.78 18.81 40.22
 Earnings per ADR 238.92 18.81 201.10
 COMPANIA CERVECERIAS UNIDAS, S.A.
 Results for the six month period ended June 30 in Chilean GAAP
 (In thousands of US$, except per share)
 (Translated at CH$404.65 to the US$, as of June 30, 1993)
 6/30/93 Percent change 6/30/92
 Net sales 136,740.99 16.34 117,535.75
 Cost of sales (57,126.40) 7.49 (53,145.14)
 Gross margin 79,614.59 23.64 64,390.61
 Selling and administrative
 expenses (44,873.78) 7.20 (41,861.54)
 Operating income 34,740.80 54.20 22,529.07
 Non-operating results:
 Financial income 1,720.00 368.76 366.92
 Income from affiliated
 companies 0.83 (88.48) 7.23
 Other non-operating income 478.53 (93.48) 7,342.43
 Total 2,199.36 (71.50) 7,716.58
 Financial expenses (3,592.77) (16.47) (4,300.92)
 Other non-operating expense (1,039.68) 46.06 (711.81)
 Monetary correction 389.88 55.79 250.25
 Total (4,242.58) (10.92) (4,762.48)
 Total non operating (2,043.21) N/M 2,954.10
 Income before income taxes 32,697.59 28.31 25,483.18
 Income tax provision (2,125.73) (19.62) (2,644.51)
 Net income 30,571.86 33.86 22,838.67
 Minority interest (0.86) (30.54) (1.24)
 Net income 30,571.00 33.86 22,837.43
 Shares outstanding
 -- June 30 258,883,002 N/M 229,761,428
 Earnings per share 0.12 18.81 0.10
 Earnings per ADR 0.59 18.81 0.50
 COMPANIA CERVECERIAS UNIDAS, S.A.
 Results for the Six Month Period Ended June 30 in Chilean GAAP
 (In thousands of CH$, except per share)
 6/30/93 Percent Change 6/30/92
 Assets:
 Total current assets 42,732,758 50.41 28,410,392
 Total fixed assets 110,597,189 15.44 95,805,646
 Other assets 4,773,791 (3.91) 4,968,005
 Total assets 158,103,738 22.39 129,184,043
 Liabilities and Stockholders' Equity:
 Total current liabilities 14,763,169 (22.03) 18,933,961
 Total long-term
 liabilities 48,277,764 (19.13) 59,700,080
 Minority interest 2,567 4.82 2,449
 Stockholders' equity 95,060,238 88.06 50,547,553
 Total liabilities and
 stockholders' equity 158,103,738 22.39 129,184,043
 COMPANIA CERVECERIAS UNIDAS, S.A.
 Results for the Six Month Period Ended June 30 in Chilean GAAP
 (In thousands of US$, except per share)
 Translated at CH$ 404.65 to the US$, as of 6/30/93
 6/30/93 Percent Change 6/30/92
 Assets:
 Total current assets 105,604 50.41 70,210
 Total fixed assets 273,316 15.44 236,762
 Other assets 11,797 (3.91) 12,277
 Total assets 390,717 22.39 319,249
 Liabilities and Stockholders' Equity:
 Total current liabilities 36,484 (22.03) 46,791
 Total long-term
 liabilities 119,307 (19.13) 147,535
 Minority interest 6 4.82 6
 Stockholders' equity 234,920 88.06 124,917
 Total liabilities and
 stockholders' equity 390,717 22.39 319,249
 COMPANIA CERVECERIAS UNIDAS, S.A.
 Results for the six month period ended June 30 in Chilean GAAP
 Vertical Analysis
 1993 1992
 (As a percent of revenues)
 Net sales 100.00 100.00
 Cost of sales (41.78) (45.22)
 Gross margin 58.22 54.78
 Selling and administrative
 expenses (32.82) (35.62)
 Operating income 25.41 19.17
 Non-operating results:
 Financial income 1.26 0.31
 Income from affiliated companies 0.00 0.01
 Other non-operating income 0.35 6.25
 Total 1.61 6.57
 Financial expense (2.63) (3.66)
 Other non-operating expense (0.76) (0.61)
 Monetary correction 0.29 0.21
 Total (3.10) (4.05)
 Total non operating (1.49) 2.51
 Income before income taxes 23.91 21.68
 Income tax provision (1.55) (2.25)
 Consoldated net income 22.36 19.43
 Minority interest 0.00 0.00
 Net income 22.36 19.43
 -0- 8/10/93
 /CONTACT: Luis Fernando Antunez, chief financial officer of Compania Cervecerias Unidas S.A., 011-562-672-2893, or Felicia Vonella of Dewe Rogerson Inc., 212-688-6840/
 (CCUUY)


CO: Compania Cervecerias Unidas S.A. ST: IN: FOD SU: ERN

LG-TS -- NY039 -- 1194 08/10/93 12:25 EDT
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