Compañía Cervecerías Unidas is the largest Chilean beverage conglomerate operating across Chile, the International Business (Argentina, Bolivia, Paraguay, Uruguay), and Wine (Argentina, Chile, the United States, the United Kingdom, China, and other markets), and the question for the next twelve months is whether the new CEO's "Vamos por Más" strategy can convert the strategic focus into the kind of margin recovery and growth re-rating the Q2 2026 print telegraphed. The Q2 2026 print was the cleanest test yet of that thesis, and the cleanest signal is that the new CEO (who has worked at CCU for more than 20 years) launched the "Vamos por Más" strategy built on four pillars: increase focus on the business, boost operational synergies, act with greater agility, and accelerate transformation. The combination of the 4.8 percent consolidated net sales growth, the 6.8 percent gross profit expansion, the 59.4 percent EBITDA increase to CLP 31,591 million, the 178 basis points of EBITDA margin improvement to 5.2 percent, the 26.2 percent Chile segment EBITDA growth, the 25.8 percent lower International Business EBITDA loss, the 84.6 percent larger Q2 2026 net loss of CLP 20,712 million (versus a CLP 11,218 million loss in Q2 2025), the 1.5 percent consolidated volume decline, the 6.4 percent higher average prices in CLP, and the "Vamos por Más" strategy launch is the cleanest single read on what the "Vamos por Más" pivot is producing. The strategic tension is the Chile operating segment strength against the International Business segment softness in Argentina and the Wine segment contraction, and the forward question is whether the new CEO's "Vamos por Más" strategy can convert the strategic focus into the kind of margin recovery and growth re-rating the Q2 2026 print telegraphed.