Embotelladora Andina S.A. (AKO-A) Cash Flow Statement
Where AKO-A’s cash came from and went, 2025
December 31, 2025 · CLP- Cash from operations
- CLP 461.13B +29.1% vs 2024
- Capital expenditures
- CLP 277.82B 8.3% of revenue
- Free cash flow
- CLP 183.31B 5.5% margin
- Returned to shareholders
- CLP 195.89B 107% of free cash flow
- Change in cash
- CLP 47.64B cash at year-end CLP 296.54B
Cash from operations
CLP 461.13B
Capital expenditures
−CLP 277.82B
Investments (net)
+CLP 27.79B
Dividends
−CLP 195.89B
Net borrowing (repayment)
+CLP 35.34B
Other financing
−CLP 1.86B
Change in cash
CLP 47.64B
Drawn to scale: where the cash came from and how it was used. Hover for values.
AKO-A operating cash flow, capex and free cash flow
Operating cash flowCapital expendituresFree cash flowFCF margin (right axis)
AKO-A cash flow trends, 2016–2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Operating cash flow | CLP 215.51B2016 | CLP 461.13B2025 | +8.8%/yr | |
| Capital expenditures | CLP 128.22B2016 | CLP 277.82B2025 | +9.0%/yr | |
| Free cash flow | CLP 87.30B2016 | CLP 183.31B2025 | +8.6%/yr | |
| Free cash flow margin | 4.9%2016 | 5.5%2025 | +0.6 pts | |
| Operating cash flow / net income | 2.382016 | 1.802025 | −0.58 | |
| Dividends paid | CLP 67.59B2016 | CLP 195.89B2025 | +12.6%/yr | |
| Share buybacks (net) | CLP 02016 | CLP 02019 | — | |
| Capex / revenue | 7.2%2016 | 8.3%2025 | +1.1 pts |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
AKO-A cash flow by activity
OperatingInvestingFinancingChange in cash
AKO-A net income vs operating cash flow
Net incomeOperating cash flow
Operating cash flow above net income usually means earnings are backed by cash (depreciation and stock-based pay are non-cash expenses).
AKO-A cash flow statement in CLP
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating activities | ||||||||||
| Net income | CLP 255.50B | CLP 232.66B | CLP 171.44B | CLP 125.50B | CLP 154.70B | CLP 122.00B | CLP 173.72B | CLP 96.60B | CLP 117.84B | CLP 90.53B |
| Depreciation & amortization | CLP 151.42B | CLP 127.16B | CLP 112.77B | CLP 115.16B | CLP 102.14B | CLP 108.83B | CLP 108.76B | CLP 97.62B | CLP 97.44B | CLP 97.33B |
| Other non-cash items | CLP 54.21B | −CLP 2.58B | CLP 82.62B | −CLP 115.16B | CLP 48.22B | CLP 47.94B | −CLP 27.34B | −CLP 97.62B | −CLP 97.44B | CLP 27.65B |
| Cash from operating activities | CLP 461.13B | CLP 357.24B | CLP 366.83B | CLP 125.50B | CLP 305.05B | CLP 278.77B | CLP 255.15B | CLP 96.60B | CLP 117.84B | CLP 215.51B |
| Investing activities | ||||||||||
| Capital expenditures | −CLP 277.82B | −CLP 291.54B | −CLP 192.71B | −CLP 186.70B | −CLP 144.03B | −CLP 86.08B | −CLP 111.13B | −CLP 121.06B | −CLP 180.78B | −CLP 128.22B |
| Investments (net) | CLP 27.79B | −CLP 289.85B | −CLP 136.78B | −CLP 85.17B | −CLP 54.57B | −CLP 139.45B | −CLP 139.45B | −CLP 3.69B | CLP 10.48B | −CLP 113.92B |
| Acquisitions & other investing | CLP 1.46B | CLP 291.54B | CLP 171.20B | CLP 186.70B | CLP 342.6M | CLP 1.65B | CLP 140.53B | CLP 6.66B | CLP 1.47B | CLP 128.22B |
| Cash from investing activities | −CLP 248.58B | −CLP 289.85B | −CLP 158.29B | −CLP 85.17B | −CLP 198.25B | −CLP 223.88B | −CLP 110.05B | −CLP 118.09B | −CLP 168.83B | −CLP 113.92B |
| Financing activities | ||||||||||
| Dividends paid | −CLP 195.89B | −CLP 158.41B | −CLP 165.88B | −CLP 274.32B | −CLP 106.35B | −CLP 99.99B | −CLP 86.27B | −CLP 87.54B | −CLP 74.97B | −CLP 67.59B |
| Share repurchases & issuance (net) | — | — | — | — | — | — | CLP 0 | CLP 0 | CLP 0 | CLP 0 |
| Net borrowing (repayment) | CLP 35.34B | CLP 33.72B | −CLP 164.08B | −CLP 12.65B | −CLP 11.97B | CLP 213.03B | −CLP 40.85B | −CLP 27.10B | −CLP 3.38B | −CLP 30.63B |
| Shares issued | CLP 0 | CLP 0 | CLP 0 | CLP 0 | CLP 0 | CLP 0 | CLP 0 | CLP 0 | CLP 0 | CLP 0 |
| Other financing | −CLP 1.86B | CLP 4.93B | CLP 142.84B | CLP 0 | CLP 3.00B | CLP 0 | CLP 0 | CLP 0 | CLP 0 | CLP 0 |
| Cash from financing activities | −CLP 162.41B | −CLP 119.76B | −CLP 187.13B | −CLP 286.96B | −CLP 115.32B | CLP 113.04B | −CLP 127.11B | −CLP 114.64B | −CLP 78.35B | −CLP 98.22B |
| Summary | ||||||||||
| Net change in cash | CLP 47.64B | −CLP 54.78B | CLP 12.00B | −CLP 12.63B | −CLP 5.22B | CLP 151.96B | CLP 20.03B | CLP 1.30B | −CLP 5.02B | CLP 12.10B |
| Cash at end of period | CLP 296.54B | CLP 248.90B | CLP 303.68B | CLP 291.68B | CLP 304.31B | CLP 309.53B | CLP 157.57B | CLP 137.54B | CLP 136.24B | CLP 141.26B |
| Free cash flow | CLP 183.31B | CLP 65.70B | CLP 174.12B | −CLP 61.20B | CLP 161.03B | CLP 192.69B | CLP 144.02B | −CLP 24.46B | −CLP 62.95B | CLP 87.30B |
| Free cash flow margin | 5.5% | 2.0% | 6.6% | −2.3% | 7.3% | 11.3% | 8.1% | −1.5% | −3.4% | 4.9% |
| Capex / revenue | 8.3% | 9.0% | 7.4% | 7.0% | 6.5% | 5.1% | 6.2% | 7.2% | 9.8% | 7.2% |
| Operating cash flow / net income | 1.80 | 1.54 | 2.14 | 1.00 | 1.97 | 2.28 | 1.47 | 1.00 | 1.00 | 2.38 |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating activities | ||||||||||||
| Net income | CLP 37.26B | CLP 102.93B | CLP 97.09B | CLP 57.18B | CLP 37.23B | CLP 79.22B | CLP 98.60B | CLP 41.94B | CLP 24.60B | CLP 68.99B | CLP 59.29B | CLP 63.71B |
| Depreciation & amortization | — | CLP 46.71B | CLP 39.92B | — | CLP 38.73B | CLP 39.24B | CLP 43.19B | CLP 35.91B | CLP 36.19B | CLP 35.82B | CLP 19.53B | CLP 33.63B |
| Other non-cash items | CLP 111.51B | −CLP 60.27B | CLP 62.08B | CLP 32.85B | −CLP 21.00B | −CLP 16.75B | −CLP 2.80B | −CLP 5.72B | CLP 12.39B | −CLP 31.87B | CLP 89.61B | −CLP 25.95B |
| Cash from operating activities | CLP 148.77B | CLP 89.38B | CLP 199.09B | CLP 90.03B | CLP 54.97B | CLP 101.71B | CLP 138.99B | CLP 72.13B | CLP 73.19B | CLP 72.94B | CLP 168.43B | CLP 71.39B |
| Investing activities | ||||||||||||
| Capital expenditures | −CLP 41.31B | −CLP 53.96B | −CLP 78.07B | −CLP 80.41B | −CLP 47.85B | −CLP 64.38B | −CLP 210.51B | −CLP 62.94B | −CLP 84.87B | −CLP 62.70B | −CLP 41.55B | −CLP 32.10B |
| Investments (net) | CLP 420.8M | CLP 0 | −CLP 43.61B | −CLP 1.00B | −CLP 48.67B | CLP 8.97B | −CLP 79.94B | −CLP 62.05B | −CLP 85.34B | −CLP 62.52B | −CLP 77.37B | −CLP 24.93B |
| Acquisitions & other investing | CLP 4.22B | −CLP 4.21B | CLP 4.96B | CLP 32.2M | CLP 47.85B | CLP 64.38B | CLP 210.51B | CLP 62.94B | CLP 84.87B | CLP 62.70B | CLP 41.55B | CLP 32.10B |
| Cash from investing activities | −CLP 36.67B | −CLP 58.17B | −CLP 116.73B | −CLP 81.37B | −CLP 48.67B | CLP 8.97B | −CLP 79.94B | −CLP 62.05B | −CLP 85.34B | −CLP 62.52B | −CLP 77.37B | −CLP 24.93B |
| Financing activities | ||||||||||||
| Dividends paid | −CLP 102.47B | −CLP 54.92B | −CLP 50.15B | −CLP 141.3M | −CLP 692.6M | −CLP 140.14B | −CLP 31.80B | −CLP 31.80B | −CLP 62.97B | −CLP 31.83B | −CLP 160.81B | −CLP 105.65B |
| Net borrowing (repayment) | −CLP 8.50B | −CLP 9.29B | −CLP 9.04B | CLP 59.98B | −CLP 6.88B | −CLP 8.73B | −CLP 927.3M | CLP 3.19B | — | — | — | −CLP 61.40B |
| Shares issued | CLP 0 | CLP 0 | CLP 0 | CLP 0 | CLP 0 | CLP 0 | CLP 0 | CLP 0 | CLP 0 | CLP 0 | CLP 0 | CLP 0 |
| Other financing | −CLP 5.58B | CLP 54.92B | −CLP 1.70B | CLP 0 | CLP 0 | CLP 0 | CLP 4.93B | CLP 14,000 | CLP 27.21B | CLP 4.24B | CLP 137.75B | CLP 78.83B |
| Cash from financing activities | −CLP 116.56B | −CLP 9.29B | −CLP 60.88B | CLP 59.84B | −CLP 7.57B | −CLP 148.87B | −CLP 27.80B | −CLP 28.61B | −CLP 35.76B | −CLP 27.58B | −CLP 23.05B | −CLP 88.22B |
| Summary | ||||||||||||
| Net change in cash | −CLP 3.59B | CLP 29.13B | CLP 31.44B | CLP 75.64B | −CLP 1.29B | −CLP 40.42B | CLP 38.21B | −CLP 21.75B | −CLP 69.09B | −CLP 2.16B | CLP 78.91B | −CLP 362.14B |
| Cash at end of period | CLP 322.08B | CLP 325.67B | CLP 297.39B | CLP 282.83B | CLP 207.19B | CLP 208.48B | CLP 248.90B | CLP 210.69B | CLP 232.43B | CLP 301.52B | CLP 303.68B | −CLP 113.15B |
| Free cash flow | CLP 107.45B | CLP 35.41B | CLP 121.02B | CLP 9.62B | CLP 7.11B | CLP 37.33B | CLP 349.50B | CLP 9.19B | −CLP 11.69B | CLP 10.24B | CLP 126.89B | CLP 39.29B |
| Free cash flow margin | 13.1% | 3.8% | 13.1% | 1.2% | 1.0% | 4.2% | 36.7% | 1.3% | −1.7% | 1.3% | 21.2% | 5.9% |
| Capex / revenue | 5.0% | 5.8% | 8.5% | 10.0% | 6.5% | 7.2% | 22.1% | 8.7% | 12.6% | 7.7% | 7.0% | 4.8% |
| Operating cash flow / net income | 3.99 | 0.87 | 2.05 | 1.57 | 1.48 | 1.28 | 1.41 | 1.72 | 2.97 | 1.06 | 2.84 | 1.12 |
Negative numbers are cash paid out. Quarterly columns are labeled by the month the quarter ended. Figures in CLP as reported; data from EODHD.
AKO-A cash generation
In fiscal 2025 (ended December 31, 2025), Embotelladora Andina generated CLP 461.1 billion of cash from operations (up 29.1%) and spent CLP 277.8 billion on capital expenditures, leaving free cash flow of CLP 183.3 billion, 5.5% of revenue. It returned CLP 195.9 billion to shareholders through dividends (CLP 195.9 billion) and net share buybacks (CLP 0). Cash and equivalents rose by CLP 47.6 billion over the year.
Related: AKO-A income statement, AKO-A balance sheet, AKO-A dividend history. See the AKO-A stock overview for the latest quote and news.
AKO-A cash flow FAQ
What is Embotelladora Andina's free cash flow?
Embotelladora Andina's free cash flow was CLP 183.3 billion in fiscal 2025: CLP 461.1 billion of operating cash flow minus CLP 277.8 billion of capital expenditures It was CLP 65.7 billion a year earlier..
How much cash does Embotelladora Andina generate from operations?
Embotelladora Andina generated CLP 461.1 billion of cash from operating activities in fiscal 2025, 1.80 times its net income of CLP 255.5 billion.
How much does Embotelladora Andina spend on capital expenditures?
Embotelladora Andina spent CLP 277.8 billion on capital expenditures in fiscal 2025, 8.3% of revenue, compared with CLP 291.5 billion the year before.
How much does Embotelladora Andina pay in dividends?
Embotelladora Andina paid CLP 195.9 billion in dividends in fiscal 2025, 106.9% of free cash flow.