EX-2 4 ex2.htm EXHIBIT 2: INCOME STATEMENT (FULL YEAR 2007)



































Exhibit 2: Income Statement (Twelve Months Ended December 31, 2007)



























Ch$ millions

US$ millions (1)

%



31-Dec-07 31-Dec-06

31-Dec-07 31-Dec-06

Change













Net sales

628.284 586.186

1.264,4 1.179,7

7,2%













Cost of goods sold

(295.282) (279.121)

(594,3) (561,7)

5,8%

% of sales
47,0% 47,6%

47,0% 47,6%
















Gross profit

333.002 307.065

670,2 618,0

8,4%

% of sales
53,0% 52,4%

53,0% 52,4%
















SG&A

(231.618) (221.475)

(466,1) (445,7)

4,6%

% of sales
36,9% 37,8%

36,9% 37,8%
















Operating income

101.384 85.589

204,0 172,3

18,5%

% of sales
16,1% 14,6%

16,1% 14,6%
















Non-operating result












Financial income
1.182 2.755

2,4 5,5

-57,1%

Equity in NI of rel. companies
(1.461) 116

(2,9) 0,2

NM

Other non-operating income
18.134 5.153

36,5 10,4

251,9%

Amortization of goodwill
(2.718) (3.844)

(5,5) (7,7)

-29,3%

Interest expense
(8.731) (8.177)

(17,6) (16,5)

6,8%

Other non-operating expenses
(5.272) (5.964)

(10,6) (12,0)

-11,6%

Price level restatement
(4.434) (443)

(8,9) (0,9)

899,8%

Currency exchange result
(88) (237)

(0,2) (0,5)

-62,9%

Total
(3.387) (10.643)

(6,8) (21,4)

-68,2%













Income before taxes

97.997 74.947

197,2 150,8

30,8%

Income taxes
(16.668) (15.288)

(33,5) (30,8)

9,0%

Tax rate
17,0% 20,4%

17,0% 20,4%
















Minority interest

(2.180) 253

(4,4) 0,5

NM













Amort. of negative goodwill

50 53

0,1 0,1

-5,0%













Net income

79.199 59.964

159,4 120,7

32,1%

% of sales
12,6% 10,2%

12,6% 10,2%
















Earnings per share

248,66 188,27

0,50 0,38

32,1%
Earnings per ADR

1.243,30 941,35

2,50 1,89
















Weighted avg. shares (millions)

318,5 318,5

318,5 318,5
















Depreciation

44.819 44.562

90,2 89,7

0,6%
Amortization

588 620

1,2 1,2

-5,2%
EBITDA

146.791 130.772

295,4 263,2

12,2%

% of sales
23,4% 22,3%

23,4% 22,3%
















Capital expenditures

53.219 44.008

107,1 88,6

20,9%













(1) Exchange rate: US$1.00 = Ch$496.89