EX-1 2 ex1.htm EXHIBIT 1 INCOME STATEMENT




































Exhibit 1: Income Statement (First Quarter 2008)



























Ch$ millions

US$ millions (1)






Q1'08 Q1'07

Q1'08 Q1'07

% Change














Net sales

183.476 172.753

419,2 394,7

6,2%














Cost of goods sold

(80.781) (76.037)

(184,6) (173,7)

6,2%


% of sales
44,0% 44,0%

44,0% 44,0%
















Gross profit

102.696 96.715

234,6 221,0

6,2%


% of sales
56,0% 56,0%

56,0% 56,0%
















SG&A

(61.778) (59.050)

(141,1) (134,9)

4,6%


% of sales
33,7% 34,2%

33,7% 34,2%
















Operating income

40.918 37.666

93,5 86,1

8,6%


% of sales
22,3% 21,8%

22,3% 21,8%
















Non-operating result












Financial income
936 963

2,1 2,2

-2,8%


Equity in NI of rel. companies
(189) (63)

(0,4) (0,1)

199,2%


Other non-operating income
791 503

1,8 1,1

57,3%


Amortization of goodwill
(658) (724)

(1,5) (1,7)

-9,1%


Interest expenses
(2.313) (2.101)

(5,3) (4,8)

10,1%


Other non-operating expenses
(592) (1.580)

(1,4) (3,6)

-62,6%


Price level restatement
116 (85)

0,3 (0,2)

NM


Currency exchange result
(1.392) 87

(3,2) 0,2

NM


Total
(3.300) (3.001)

(7,5) (6,9)

10,0%














Income before taxes

37.617 34.665

85,9 79,2

8,5%


Income taxes
(4.342) (6.878)

(9,9) (15,7)

-36,9%


Tax rate
11,5% 19,8%

11,5% 19,8%
















Minority interest

(592) (274)

(1,4) (0,6)

116,1%














Amort. of negative goodwill

12 14

0,0 0,0

-17,9%














Net income

32.695 27.527

74,7 62,9

18,8%


% of sales
17,8% 15,9%

17,8% 15,9%
















Earnings per share

102,65 86,43

0,23 0,20

18,8%

Earnings per ADR

513,26 432,13

1,17 0,99
















Weighted avg. shares (millions)

318,5 318,5

318,5 318,5
















Depreciation

11.699 11.220

26,7 25,6

4,3%

Amortization

129 155

0,3 0,4

-16,8%

EBITDA

52.746 49.041

120,5 112,0

7,6%


% of sales
28,7% 28,4%

28,7% 28,4%
















Capital expenditures

14.919 8.955

34,1 20,5

66,6%













(1) Exchange rate: US$1.00 = Ch$437.71