EXHIBIT 99.4
United Breweries International (UK) Limited
December 31, 2000 Consolidated Financial Statements
Conversion Table
United Breweries International, Ltd. (UBI)
Consolidated Balance Sheet
December 31, 2000
(GBP(pound)) Exchange (US$)
UBI Rate UBI
---------------- ---------- -------------
Cash (pound)139,274 1.4955 $ 208,284
Accounts receivable 2,812,179 1.4955 4,205,614
Inventory 69,053 1.4955 103,269
Prepaids 24,932 1.4955 37,286
---------------- -------------
Current assets 3,045,438 4,554,453
---------------- -------------
Property, plant and equipment 578,356 1.4955 864,931
---------------- -------------
Intangible assets, net of amortization 22,401 1.4955 33,501
---------------- -------------
Total assets (pound)3,646,195 $ 5,452,885
================ =============
Current liabilities
Bank overdraft (pound)993,870 1.4955 $ 1,486,333
Accounts payable 1,427,112 1.4955 2,134,246
Income tax payable 135,464 1.4955 202,586
Accruals 445,427 1.4955 666,136
---------------- -------------
Total liabilities 3,001,873 4,489,301
---------------- -------------
Stockholder's Equity
Common stock 100,000 1.4955 149,550
Currency translation - (5,464)
Retained earnings 544,322 819,498
---------------- -------------
644,322 963,584
---------------- -------------
Total stockholder's equity and liabilities (pound)3,646,195 $ 5,452,885
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United Breweries International, Ltd. (UBI)
Consolidated Statement of Income and
Stockholder's Equity December 31, 2000
(GBP(pound)) Exchange (US$)
UBI Rate UBI
---------------- ---------- ------------
Sales (pound)8,342,315 1.5156 $ 12,643,613
Cost of goods sold 5,423,592 1.5156 8,219,996
---------------- ------------
Gross profit 2,918,723 4,423,617
Selling and distribution 1,851,646 1.5156 2,806,355
General and administrative 596,108 1.5156 903,461
---------------- ------------
Net income from operations 470,969 713,801
Other income (expense)
Provision for litigation (11,584) 1.5156 (17,557)
Interest expense (54,116) 1.5156 (82,018)
---------------- ------------
Net income before taxes 405,269 614,226
Provision for income tax (133,426) 1.5156 (202,220)
---------------- ------------
Net income (pound)271,843 $ 412,005
Retained earnings, beginning of year 272,479 1.4955 407,492
---------------- ------------
Retained earnings, end of year (pound)544,322 $ 819,498
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13
United Breweries International, Ltd. (UBI)
Consolidated Statement of Cash Flows
December 31, 2000
(GBP(pound)) Exchange (US$)
UBI Rate UBI
-------------- ---------- -----------
Cash flows from operating activities
Net income (pound)271,843 1.5156 $ 412,005
Adjustments to reconcile net income
to net cash from operating activities
Depreciation 238,587 1.5156 361,602
Gain on sale of assets (2,185) 1.5156 (3,312)
Changes in:
Accounts receivable (114,876) 1.5156 (174,106)
Inventory (5,979) 1.5156 (9,062)
Accounts payable and accruals 186,562 1.5156 282,753
-------------- -----------
Net cash from operating activities 573,952 869,882
-------------- -----------
Cash flows from investing activities
Purchase of property, plant and equipment (221,700) 1.5156 (336,009)
Cash received from sale of assets 3,250 1.5156 4,926
Cash received from sale of investments - 1.5156 -
-------------- -----------
(218,450) (331,083)
-------------- -----------
Cash flows from financing activities
Increase in bank overdraft (250,073) 1.5156 (379,011)
-------------- -----------
Translation adjustment - (2,119)
-------------- -----------
Net increase in cash 105,429 157,669
Cash beginning of year 33,845 1.4955 50,615
-------------- -----------
Cash end of year (pound)139,274 $ 208,284
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United Breweries International, Ltd. (UBI)
Consolidated Balance Sheet
December 31, 1999
(GBP(pound)) Exchange (US$)
UBI Rate UBI
---------------- ---------- ------------
Cash (pound)33,845 1.6150 $ 54,660
Accounts receivable 2,700,298 1.6150 4,360,981
Inventory 63,074 1.6150 101,865
Prepaids 21,937 1.6150 35,428
---------------- ------------
Current assets 2,819,154 4,552,934
---------------- ------------
Property, plant and equipment 593,108 1.6150 957,869
---------------- ------------
Intangibles 25,601 1.6150 41,346
---------------- ------------
Total assets (pound)3,437,863 $ 5,552,149
================ ============
Current liabilities
Bank overdraft (pound)1,243,943 1.6150 $ 2,008,968
Accounts payable 1,414,454 1.6150 2,284,343
Income tax payable 69,094 1.6150 111,587
Accruals 337,893 1.6150 545,697
---------------- ------------
Total liabilities 3,065,384 4,950,595
---------------- ------------
Stockholder's Equity
Common stock 100,000 1.6150 161,500
Currency translation - (3,982)
Retained earnings 272,479 444,036
---------------- ------------
372,479 601,554
---------------- ------------
Total stockholder's equity and liabilities (pound)3,437,863 $ 5,552,149
================ ============
15
United Breweries International, Ltd. (UBI)
Consolidated Statement of Income and
Stockholder's Equity December 31, 1999
(GBP(pound)) Exchange (US$)
UBI Rate UBI
---------------- ---------- -------------
Sales (pound)7,350,109 1.6172 $ 11,886,596
Cost of goods sold 4,813,017 1.6172 7,783,611
---------------- -------------
Gross profit 2,537,092 4,102,985
Selling and distribution 1,554,503 1.6172 2,513,942
General and administrative 652,055 1.6172 1,054,503
---------------- -------------
Net income from operations 330,534 534,540
Other income (expense)
Costs relating to litigation (125,303) 1.6172 (202,640)
Disposal of fixed assets - 1.6172 -
Other income - 1.6172 -
Interest expense (74,837) 1.6172 (121,026)
---------------- -------------
Net income before taxes 130,394 210,873
Provision for income tax (63,072) 1.6172 (102,000)
---------------- -------------
Net income before discontinued 67,322 108,873
operations
Minority interest in discontinued
operations 3,023 1.6172 4,889
Discountinued operations
Loss from operations of
discontinued Soyco, Ltd, (149,967) 1.6172 (242,527)
Gain on disposal of Soyco, Ltd 1,889,877 1.6172 3,056,309
---------------- -------------
Net income (pound)1,810,255 $ 2,927,544
Retained earnings, beginning of year (1,537,776) 1.6150 (2,483,508)
---------------- -------------
Retained earnings, end of year (pound)272,479 $ 444,036
================ =============
16
United Breweries International, Ltd. (UBI)
Consolidated Statement of Cash Flows
December 31, 1999
(GBP(pound)) Exchange (US$)
UBI Rate UBI
---------------- ---------- -----------
Cash flows from operating activities
Net income (pound)1,810,255 1.6172 $ 2,927,544
Adjustments to reconcile net income
to net cash from operating activities
Depreciation 238,515 1.6172 385,726
Gain on sale of assets (4,241) 1.6172 (6,859)
Gain on sale of Soyco, Ltd. (1,739,310) 1.6172 (2,812,812)
Changes in:
Accounts receivable (253,078) 1.6172 (409,278)
Inventory 48,346 1.6172 78,185
Accounts payable and accruals (244,886) 1.6172 (396,030)
---------------- -----------
Net cash from operating activities (144,399) (233,522)
---------------- -----------
Cash flows from investing activities
Purchase of property, plant and equipment (238,809) 1.6172 (386,202)
Cash received from sale of assets 22,065 1.6172 35,684
Cash received from sale of investments 50,000 1.6172 80,860
---------------- -----------
(166,744) (269,658)
---------------- -----------
Cash flows from financing activities
Increase in bank overdraft 190,607 1.6172 308,250
---------------- -----------
Translation adjustment - 266
---------------- -----------
Net decrease in cash (120,536) (194,665)
Cash beginning of year 154,381 1.6150 249,325
---------------- -----------
Cash end of year (pound)33,845 $ 54,660
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