Sign in

    Diego Guzman

    Research Analyst at BTG Pactual Asset Management

    Diego Guzmán is a director specializing in asset management, with a strong focus on LatAm equities and small caps at leading regional investment firms. He spent seven years at BTG Pactual Asset Management, rising from associate director to director, where he covered companies in Chile, Peru, and Colombia with notable expertise in small-cap equities and multi-country portfolios. Prior to BTG Pactual, he worked for five years at BICE Inversiones as a senior investment analyst and later as head of research, building a track record of rigorous analysis and regional stock selection. Guzmán holds more than a decade of experience in buy-side research and portfolio management within major Latin American asset managers, though specific professional license details and performance metrics are not publicly listed.

    Diego Guzman's questions to UNITED BREWERIES CO (CCU) leadership

    Diego Guzman's questions to UNITED BREWERIES CO (CCU) leadership • Q3 2023

    Question

    Asked which business (beer or non-alcoholic) has a better gross margin trend for the next six months, and requested details on the economic rationale for the non-recurring expense in Argentina related to the Danone JV integration.

    Answer

    The executive stated that the non-alcoholic business faces more commodity cost pressure (sugar, orange juice) and requires price increases above inflation. The beer business has better margins. Looking forward, the non-alcoholic business has more cost pressure than beer. The non-recurring expense in Argentina (~$10 million) is for integrating the Danone water business, which adds significant volume (~5 million hectoliters) and creates synergies, strengthening their position in the country.

    Ask Fintool Equity Research AI