EX-2 5 income105.htm

Exhibit 99.2 Statement of Income for 1Q05

QUARTERLY CONSOLIDATED STATEMENTS OF INCOME (CHGAAP)                        
(Millions of Ch$ as of March 31, 2005)                        
  Acum. IQ IIQ IIIQ IVQ Acum. IQ IIQ IIIQ IVQ VARIATION
  2004 2004 2004 2004 2004 2005 2005 2005 2005 2005 IQ05/IQ04 2005/2004
OPERATING REVENUES                        
                         
FIXED TELECOMMUNICATIONS 102,929 102,929 103,261 109,363 103,293 102,845 102,845 0 0 0 -0.1% -0.1%
Basic Telephony 75,071 75,071 74,317 75,610 72,455 70,479 70,479 0 0 0 -6.1% -6.1%
Telephone Line Serv.Fee (Fixed Monthly Charge) 36,145 36,145 37,698 37,400 34,388 31,480 31,480 0 0 0 -12.9% -12.9%
Variable Charge 31,829 31,829 29,533 29,350 26,536 23,692 23,692 0 0 0 -25.6% -25.6%
Connections and other installations 1,263 1,263 775 753 1,075 649 649 0 0 0 -48.6% -48.6%
Plans of minutes (tariff flexibility) 0 0 33 2,363 6,226 8,271 8,271 0 0 0 - -
Value added services 4,104 4,104 4,554 4,228 4,064 5,049 5,049 0 0 0 23.0% 23.0%
Other basic telephony revenues 1,730 1,730 1,724 1,516 166 1,338 1,338 0 0 0 -22.7% -22.7%
Broadband 4,750 4,750 6,135 6,650 7,425 7,825 7,825 0 0 0 64.7% 64.7%
Access Charges and Interconnections 5,850 5,850 7,491 9,504 8,490 9,766 9,766 0 0 0 66.9% 66.9%
Domestic long distance 1,879 1,879 2,369 3,293 2,499 2,631 2,631 0 0 0 40.0% 40.0%
International long distance 516 516 657 904 708 628 628 0 0 0 21.7% 21.7%
Other interconnection services 3,455 3,455 4,465 5,307 5,283 6,507 6,507 0 0 0 88.3% 88.3%
Other Fixed Telecommunications businesses 17,258 17,258 15,318 17,599 14,923 14,775 14,775 0 0 0 -14.4% -14.4%
Directory Advertising 1,181 1,181 322 3,206 1,126 1,002 1,002 0 0 0 -15.2% -15.2%
ISP- switched and dedicated 682 682 673 818 920 639 639 0 0 0 -6.3% -6.3%
Security services (Telemergencia) 1,527 1,527 1,565 1,751 1,785 1,837 1,837 0 0 0 20.3% 20.3%
Public telephones 2,789 2,789 2,753 2,597 2,612 2,569 2,569 0 0 0 -7.9% -7.9%
Interior installations 8,153 8,153 7,845 7,636 7,391 7,475 7,475 0 0 0 -8.3% -8.3%
Equipment marketing 2,926 2,926 2,160 1,591 1,089 1,253 1,253 0 0 0 -57.2% -57.2%
  0 0 0                  
LONG DISTANCE 15,354 15,354 14,888 15,582 15,273 14,897 14,897 0 0 0 -3.0% -3.0%
Domestic Long Distance 6,359 6,359 6,524 5,989 5,555 5,857 5,857 0 0 0 -7.9% -7.9%
International Service 6,410 6,410 5,900 5,662 5,764 5,392 5,392 0 0 0 -15.9% -15.9%
Rental of LD Network 2,585 2,585 2,464 3,931 3,954 3,648 3,648 0 0 0 41.1% 41.1%
    0 0                  
CORPORATE CUSTOMER COMMUNICATIONS 19,122 19,122 20,184 20,042 22,894 18,211 18,211 0 0 0 -4.8% -4.8%
Equipment 2,845 2,845 3,521 3,948 3,152 2,284 2,284 0 0 0 -19.7% -19.7%
Complementary Services 4,698 4,698 4,169 3,384 4,319 3,296 3,296 0 0 0 -29.8% -29.8%
Data services 7,789 7,789 7,686 7,658 7,768 7,898 7,898 0 0 0 1.4% 1.4%
Dedicated links and others 3,790 3,790 4,808 5,052 7,655 4,733 4,733 0 0 0 24.9% 24.9%
    0 0                  
OTHER BUSINESSES 560 560 933 1,616 803 671 671 0 0 0 19.8% 19.8%
  0 0 0                  
MOBILE COMMUNICATIONS 67,057 67,057 64,120 0 0 0 0 0 0 0 -100.0% -100.0%
Outgoing Traffic 46,533 46,533 46,282 0 0 0 0 0 0 0 -100.0% -100.0%
Interconnection under Calling Party Pays 20,524 20,524 17,838 0 0 0 0 0 0 0 -100.0% -100.0%
TOTAL OPERATING REVENUES 205,022 205,022 203,386 146,603 142,263 136,624 136,624 0 0 0 -33.4% -33.4%
                         
QUARTERLY CONSOLIDATED STATEMENTS OF INCOME (CHGAAP), continued                        
(Millions of Ch$ as of March 31, 2005)                        
  Acum. IQ IIQ IIIQ IVQ Acum. IQ IIQ IIIQ IVQ VARIATION  
  2004 2004 2004 2004 2004 2005 2005 2005 2005 2005 IQ05/IQ04 2005/2004
OPERATING COSTS AND EXPENSES                        
Salaries 14,030 14,030 14,404 8,102 11,127 11,455 11,455 0 0 0 -18.4% -18.4%
Depreciation 65,352 65,352 63,721 43,618 45,238 46,150 46,150 0 0 0 -29.4% -29.4%
Other Operating Costs 58,174 58,174 57,752 29,432 29,947 28,450 28,450 0 0 0 -51.1% -51.1%
Adm. & Selling Expenses 43,201 43,201 46,425 33,576 34,814 28,855 28,855 0 0 0 -33.2% -33.2%
TOTAL OPERATING COSTS AND EXPENSES 180,757 180,757 182,302 114,728 121,126 114,910 114,910 0 0 0 -36.4% -36.4%
OPERATING INCOME 24,265 24,265 21,084 31,875 21,137 21,714 21,714 0 0 0 -10.5% -10.5%
EBITDA 90,982 90,982 86,540 78,931 68,003 70,307 70,307 0 0 0 -22.7% -22.7%
Operating Margin 11.8% 11.8% 10.4% 21.7% 14.9% 15.9% 15.9% 0.0% 0.0% 0.0% 4.1pp 4.1pp
EBITDA Margin 44.4% 44.4% 42.5% 53.8% 47.8% 51.5% 51.5% 0.0% 0.0% 0.0% 7.1pp 7.1pp
NON-OPERATING INCOME 0.0% 0.0% 0.0%                  
Interest Income 1,880 1,880 1,754 3,490 2,088 3,341 3,341 0 0 0 77.7% 77.7%
Other Non-Operating Income 709 709 7,153 462,936 887 578 578 0 0 0 -18.5% -18.5%
Revenues from Related Companies 24 24 60 183 271 386 386 0 0 0 1508.3% 1508.3%
Interest Expense -11,594 -11,594 -11,508 -12,364 -18,156 -8,622 -8,622 0 0 0 -25.6% -25.6%
Amortization of Goodwill -2,888 -2,888 -2,887 -133,961 457 -374 -374 0 0 0 -87.0% -87.0%
Other Non-Operating Expenses -1,015 -1,015 -4,761 -1,997 -16,700 -1,436 -1,436 0 0 0 41.5% 41.5%
Monetary Correction -1,275 -1,275 4,132 8,311 -2,277 -2,997 -2,997 0 0 0 135.1% 135.1%
TOTAL NON-OPERATING INCOME -14,159 -14,159 -6,057 326,598 -33,430 -9,124 -9,124 0 0 0 -35.6% -35.6%
INCOME BEFORE INCOME TAX 10,106 10,106 15,027 358,473 -12,293 12,590 12,590 0 0 0 24.6% 24.6%
Income Tax -6,562 -6,562 -8,731 -44,373 -2,231 -4,437 -4,437 0 0 0 -32.4% -32.4%
Minority Interest 45 45 30 -255 -100 18 18 0 0 0 -60.0% -60.0%
Amortization of Negative Goodwill 0 0 0 0 0 0 0 0 0 0 - -
NET INCOME 3,589 3,589 6,326 313,845 -14,624 8,171 8,171 0 0 0 127.7% 127.7%
Observed exchange rate (end of the period)   616.41 636.30 608.90 557.40   585.93 0.00 0.00 0.00    
                         
    IQ IIQ IIIQ IVQ   IQ IIQ IIIQ IVQ    
    2004 2004 2004 2004   2005 2005 2005 2005    
Earnings per Common Share (Ch$)   3.7 6.6 327.9 -15.3   8.5 0.0 0.0 0.0    
Earnings per ADR (US$)   0.024 0.042 2.154 -0.110   0.058 0.000 0.000 0.000    
Weighted Average Number of Shares Fully Paid (millions)   957.2 957.2 957.2 957.2   957.2 0.0 0.0 0.0