EX-2 3 exhibit2.htm EXHIBIT 2: INCOME STATEMENT



































Exhibit 2: Income Statement (Six Months Ended June 30, 2008)

























Ch$ millions

US$ millions (1)

%



30-June-08 30-June-07

30-June-08 30-June-07

Change












Net sales

336.726 308.515

640,1 586,5

9,1%












Cost of goods sold

(156.364) (145.786)

(297,2) (277,1)

7,3%

% of sales
46,4% 47,3%

46,4% 47,3%














Gross profit

180.361 162.729

342,9 309,3

10,8%

% of sales
53,6% 52,7%

53,6% 52,7%














SG&A

(123.840) (113.304)

(235,4) (215,4)

9,3%

% of sales
36,8% 36,7%

36,8% 36,7%














Operating income

56.522 49.425

107,4 94,0

14,4%

% of sales
16,8% 16,0%

16,8% 16,0%














Non-operating result











Financial income
861 1.334

1,6 2,5

-35,5%

Equity in NI of rel. companies
19 (309)

0,0 (0,6)

NM

Other non-operating income
1.243 1.672

2,4 3,2

-25,6%

Amortization of goodwill
(1.509) (1.461)

(2,9) (2,8)

3,3%

Interest expense
(5.252) (4.250)

(10,0) (8,1)

23,6%

Other non-operating expenses
(2.060) (2.511)

(3,9) (4,8)

-17,9%

Price level restatement
(676) (1.227)

(1,3) (2,3)

-44,9%

Currency exchange result
1.288 387

2,4 0,7

232,6%

Total
(6.086) (6.364)

(11,6) (12,1)

-4,4%












Income before taxes

50.435 43.060

95,9 81,9

17,1%

Income taxes
(2.401) (7.321)

(4,6) (13,9)

-67,2%

Tax rate
4,8% 17,0%

4,8% 17,0%














Minority interest

(1.883) (746)

(3,6) (1,4)

152,5%












Amort. of negative goodwill

26 28

0,0 0,1

-6,2%












Net income

46.177 35.022

87,8 66,6

31,9%

% of sales
13,7% 11,4%

13,7% 11,4%














Earnings per share

144,98 109,96

0,28 0,21

31,9%
Earnings per ADR

724,91 549,79

1,38 1,05














Weighted avg. shares (millions)

318,5 318,5

318,5 318,5














Depreciation

24.740 23.159

47,0 44,0

6,8%
Amortization

403 313

0,8 0,6

28,6%
EBITDA

81.664 72.897

155,2 138,6

12,0%

% of sales
24,3% 23,6%

24,3% 23,6%














Capital expenditures

33.183 24.424

63,1 46,4

35,9%












(1) Exchange rate: US$1.00 = Ch$526.05