ANDINA BOTTLING CO INC
For the period ended Feb 9, 2026. Filed Feb 9, 2026.
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Feb 9, 2026 · Filed Feb 9, 2026
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6-K 1 tm265499d1_6k.htm FORM 6-K
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 6-K
REPORT OF FOREIGN ISSUER
PURSUANT TO RULE 13a-16 OR 15b-16 OF
THE SECURITIES EXCHANGE ACT OF 1934
December 2025
Date of Report (Date of Earliest Event Reported)
Embotelladora Andina S.A.
(Exact name of registrant as specified in its charter)
Andina Bottling Company, Inc.
(Translation of Registrant´s name into English)
Avda. Miraflores 9153
Renca
Santiago, Chile
(Address of principal executive office)
Indicate by check mark whether the registrant files or will file annual reports under cover Form 20-F or Form 40-F.
Form 20-Fx Form 40-F¨
Indicate by check mark if the Registrant is submitting this Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1):
Indicate by check mark if the Registrant is submitting this Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7):
Indicate by check mark whether the registrant by furnishing the information contained in this Form 6-K is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934
Consolidated Financial Statements
EMBOTELLADORA ANDINA S.A. AND SUBSIDIARIES
Santiago, Chile
Consolidated Financial Statements
December 31, 2025 and 2024
INDEPENDENT AUDITOR’S REPORT
(A free translation from the original in Spanish)
Santiago, January 27, 2026
To the Shareholders and Directors
Embotelladora Andina S.A.
Opinion
We have audited the consolidated financial statements of Embotelladora Andina S.A. and subsidiaries (the Company), which comprise the consolidated statement of financial position as at December 31, 2025, and the consolidated statement of income by function, comprehensive income, consolidated statement of changes in equity and consolidated statement of direct cash flows for the year then ended, and notes to the consolidated financial statements, including material accounting policy information.
In our opinion, the accompanying consolidated financial statements present fairly, in all material respects the consolidated financial position of the Company as at December 31, 2025, and its consolidated financial performance and its consolidated cash flows for the year then ended in accordance with IFRS Accounting Standards as issued by the International Accounting Standards Board (“IFRS Accounting Standards”).
Basis for opinion
We conducted our audit in accordance with Generally Accepted Auditing Standards in Chile. Our responsibilities under those standards are further described in the Auditor’s Responsibilities for the Audit of the Consolidated Financial Statements section of our report.
We are independent of the Company in accordance with the Code of Ethics of the Chilean Accountants’ Association, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Key Audit Matters
Key audit matters are those matters that, in our professional judgment, were of most significance in our audit of the consolidated financial statements of the current period. These matters were addressed in the context of our audit of the consolidated financial statements as a whole, and in forming our opinion thereon, and we do not provide a separate opinion on these matters.
| Key audit matter | Audit response |
|---|---|
| Impairment assessment of indefinite-lived intangible assets (distribution rights) and goodwill | |
| As of December 31, 2025, the consolidated balances of indefinite-lived intangible assets (distribution rights) and goodwill amounted to ThCh$674,766,128 and ThCh$137,128,318, respectively (see details in Notes 15 and 16). Assets with an indefinite useful life, such as intangible assets related to distribution rights and goodwill, are not subject to amortization. Management performs impairment tests annually, or more frequently if events or changes in circumstances indicate a potential loss. An impairment loss is recognized for the amount by which the asset’s carrying amount exceeds its recoverable amount. The recoverable amount is the higher of an asset’s fair value less costs to sell and its value in use. To assess whether goodwill has suffered an impairment loss, the Company compares its carrying amount with its recoverable amount and recognizes an impairment loss for the excess of the asset’s carrying amount over its recoverable amount. To determine the recoverable amounts of the cash generating units (CGUs), management considers the discounted cash flow method as the most appropriate. We considered this a key audit matter due to the significant judgment exercised by management in estimating the relevant assumptions used in calculating the value in use of the cash-generating units, as well as the significant assumptions related to perpetual growth rates and discount rates. This means that the audit procedures require a high degree of judgment, subjectivity, and effort by the auditor when performing the procedures and evaluating those assumptions. | Our audit procedures included, among other aspects, updating our understanding and evaluating the design and operating effectiveness of the key controls related to the significant judgments made by management. These controls are related to the process used by management to develop the impairment assessment of indefinite-lived intangible assets (distribution rights) and goodwill. Additionally, we performed detailed tests on various elements related to the process used by management to determine the recoverable amounts of the CGUs, including: · Evaluation of the discounted cash flow model. · Verification of the completeness and accuracy of the underlying data used in the model. · Evaluating the reasonableness of the assumptions used by management related to perpetual growth rates and discount rates, and whether these assumptions were consistent with the evidence obtained in other areas of the audit. · Involvement of specialist professionals with the skills and expertise in financial variables, such as the discount rates used in the cash flow discounting. The result of the procedures described above has been satisfactory in the context of the planned audit objectives. |
Responsibilities of Management and Those Charged with Governance for the Consolidated Financial Statements
Management is responsible for the preparation and fair presentation of the consolidated financial statements in accordance with IFRS Accounting Standards, and for such internal control as management determines is necessary to enable the preparation of consolidated financial statements that are free from material misstatement, whether due to fraud or error. In preparing the consolidated financial statements, management is responsible for assessing the Group’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless management either intends to liquidate the Company or to cease operations, or has no realistic alternative but to do so.
Those charged with governance are responsible for overseeing the Company´s financial reporting process.
Auditor’s Responsibilities for the Audit of the Consolidated Financial Statements
Our objectives are to obtain reasonable assurance about whether the consolidated financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with Generally Accepted Auditing Standards in Chile. will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these consolidated financial statements.
As part of an audit in accordance with Generally Accepted Auditing Standards in Chile, we exercise professional judgment and maintain professional skepticism throughout the audit. We also:
| · | Identify and assess the risks of material misstatement of the consolidated financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control. |
| · | Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Company´s internal control. |
| · | Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by management. |
| · | Conclude on the appropriateness of management’s use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the Company´s ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor’s report to the related disclosures in the consolidated financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor’s report. However, future events or conditions may cause the Company to cease to continue as a going concern. |
| · | Evaluate the overall presentation, structure and content of the consolidated financial statements, including the disclosures, and whether the consolidated financial statements represent the underlying transactions and events in a manner that achieves fair presentation. |
| · | Plan and perform the group audit to obtain sufficient appropriate audit evidence regarding the financial information of the entities or business units within the group as a basis for forming an opinion on the group financial statements. We are responsible for the direction, supervision and review of the audit work performed for purposes of the group audit. We are solely responsible for our audit opinion. |
We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.
We also provide those charged with governance with a statement that we have complied with relevant ethical requirements regarding independence, and to communicate with them all relationships and other matters that may reasonably be thought to bear on our independence, and where applicable, actions taken to eliminate threats or safeguards applied.
From the matters communicated with those charged with governance, we determine those matters that were of most significance in the audit of the consolidated financial statements of the current period and are therefore the key audit matters. We describe these matters in our auditor’s report unless law or regulation precludes public disclosure about the matter or when, in extremely rare circumstances, we determine that a matter should not be communicated in our report because the adverse consequences of doing so would reasonably be expected to outweigh the public interest benefits of such communication.
Other Matters
The Chilean Accountants’ Association approved that the Generally Accepted Auditing Standards in Chile fully and unreservedly adopt the International Auditing Standards issued by the International Auditing and Assurance Standards Board for audits of financial statements prepared for the year beginning on or after January 1, 2025.
The audit of the consolidated financial statements of Embotelladora Andina S.A. and subsidiaries as of December 31, 2024 was carried out in accordance with the Generally Accepted Auditing Standards in Chile in force as of that date. We issued an opinion on these consolidated financial statements without modification on January 28, 2025.
Sergio Tubío L. RUT: 21.175.581-4
Consolidated Financial Statements
| I. | Consolidated Statements of Financial Position | 1 |
|---|---|---|
| II. | Consolidated Statements of Income by Function | 2 |
| III. | Consolidated Statements of Comprehensive (Loss) Income | 3 |
| IV. | Consolidated Statements of Changes in Equity | 4 |
| V. | Consolidated Statements of Direct Cash Flows | 5 |
| VI. | Notes to the Consolidated Financial Statements | 6 |
| 1 – Corporate information | 7 |
|---|---|
| 2 – Basis of presentation of the consolidated financial statements and application of accounting criteria | 8 |
| 3 – Financial reporting by segment | 29 |
| 4 – Cash and cash equivalents | 32 |
| 5 – Other current and non-current financial assets | 32 |
| 6 – Other current and non-current non-financial assets | 33 |
| 7 – Trade accounts and other accounts receivable | 34 |
| 8 – Inventories | 35 |
| 9 – Tax assets and liabilities | 36 |
| 10 – Income tax, deferred taxes, and other taxes | 36 |
| 11 – Property, plant, and equipment | 39 |
| 12 – Related parties | 42 |
| 13 – Current and non-current employee benefits | 44 |
| 14 – Investments in associates accounted for using the equity method | 46 |
| 15 – Intangible assets other than goodwill | 48 |
| 16 – Goodwill | 50 |
| 17 – Other current and non-current financial liabilities | 50 |
| 18 – Trade and other accounts payable | 62 |
| 19 – Other provisions current and non-current | 62 |
| 20 – Other non-financial liabilities | 63 |
| 21 – Equity | 63 |
| 22 – Derivative assets and liabilities | 66 |
| 23 – Litigation and contingencies | 70 |
| 24 – Financial risk management | 74 |
| 25 – Revenue from ordinary activities | 78 |
| 26 – Expenses by nature | 78 |
| 27 – Other income | 78 |
| 28 – Other expenses by function | 79 |
| 29 – Financial income and expenses | 79 |
| 30 – Other (losses) gains | 80 |
| 31 – Exchange differences | 80 |
| 32 – Local and foreign currency | 81 |
| 33 – Environment (non-audited) | 85 |
| 34 – Subsequent events | 85 |
| Appendix I | 86 |
| Additional Information Required by the Financial Market Commission (CMF) on Suppliers and Other Accounts Payable | 86 |
Consolidated Financial Statements
December 31, 2025 and 2024
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