EX-1 3 ex1.htm EXHIBIT 1: INCOME STATEMENT (FOURTH QUARTER 2008)



































Exhibit 1: Income Statement (Fourth Quarter 2008)

























Ch$ millions

US$ millions (1)

%



Q4'08 Q4'07

Q4'08 Q4'07

Change












Net sales

254.539 206.026

399,9 323,7

23,5%












Cost of goods sold

(118.573) (91.645)

(186,3) (144,0)

29,4%

% of sales
46,6% 44,5%

46,6% 44,5%














Gross profit

135.966 114.381

213,6 179,7

18,9%

% of sales
53,4% 55,5%

53,4% 55,5%














SG&A

(94.820) (75.011)

(149,0) (117,9)

26,4%

% of sales
37,3% 36,4%

37,3% 36,4%














Operating income

41.146 39.370

64,6 61,9

4,5%

% of sales
16,2% 19,1%

16,2% 19,1%














Non-operating result











Financial income
34 141

0,1 0,2

-75,6%

Equity in NI of rel. companies
590 (1.194)

0,9 (1,9)

NM

Other non-operating income
789 17.454

1,2 27,4

-95,5%

Amortization of goodwill
(1.139) (694)

(1,8) (1,1)

64,1%

Interest expenses
(4.081) (2.972)

(6,4) (4,7)

37,3%

Other non-operating expenses
(1.386) (2.381)

(2,2) (3,7)

-41,8%

Price level restatement
(850) (2.332)

(1,3) (3,7)

-63,6%

Currency exchange result
(2.825) (102)

(4,4) (0,2)

2657,9%

Total
(8.866) 7.919

(13,9) 12,4

NM












Income before taxes

32.280 47.289

50,7 74,3

-31,7%

Income taxes
(8.299) (8.326)

(13,0) (13,1)

-0,3%

Tax rate
25,7% 17,6%

25,7% 17,6%














Minority interest

(457) (806)

(0,7) (1,3)

-43,3%












Amort. of negative goodwill

37 12

0,1 0,0

201,9%












Net income

23.561 38.169

37,0 60,0

-38,3%

% of sales
9,3% 18,5%

9,3% 18,5%














Earnings per share

73,97 119,84

0,12 0,19

-38,3%
Earnings per ADR

369,87 599,19

0,58 0,94














Weighted avg. shares (millions)

318,5 318,5

318,5 318,5














Depreciation

15.498 12.421

24,4 19,5

24,8%
Amortization

358 154

0,6 0,2

133,2%
EBITDA

57.003 51.944

89,6 81,6

9,7%

% of sales
22,4% 25,2%

22,4% 25,2%














Capital expenditures

12.442 15.583

19,5 24,5

-20,2%












(1) Exchange rate: US$1.00 = Ch$636.45