EX-5 6 ex5.htm EXHIBIT 5 BALANCE

Exhibit 5: Balance Sheet
		Ch$ millions				US$ millions (1)
		Sep 30-2004	Sep 30-2003			Sep 30-2004	Sep 30-2003			% Change
ASSETS
Cash & equivalents		36,838	37,888			60.5	62.2			-2.8%
Other current assets		143,276	164,659			235.3	270.4			-13.0%
Total current assets		180,114	202,547			295.8	332.6			-11.1%
PP&E, net		308,759	332,054			507.1	545.3			-7.0%
Other assets		65,062	68,459			106.9	112.4			-5.0%
TOTAL ASSETS		553,935	603,060			909.7	990.4			-8.1%
LIABILITIES &
STOCKHOLDERS' EQUITY
Short-term debt (2)		30,278	55,428			49.7	91.0			-45.4%
Other current liabilities		67,164	103,957			110.3	170.7			-35.4%
Total current liabilities		97,442	159,385			160.0	261.8			-38.9%
Long-term debt (2)		94,350	86,535			155.0	142.1			9.0%
Other long-term liabilities		33,690	33,116			55.3	54.4			1.7%
Total long-term liabilities		128,040	119,651			210.3	196.5			7.0%
Minority interest		39,229	41,039			64.4	67.4			-4.4%
Stockholders' equity		289,224	282,985			475.0	464.7			2.2%
TOTAL LIABILITIES &
STOCKHOLDERS' EQUITY		553,935	603,060			909.7	990.4			-8.1%
OTHER FINANCIAL INFORMATION
Cash & equivalents plus
other liquid assets		48,188	72,946			79.1	119.8			-33.9%
Total financial debt		124,628	141,963			204.7	233.1			-12.2%
Net debt (3)		76,439	69,017			125.5	113.3			10.8%
Liquidity ratio		1.85	1.27
Debt / Capitalization		0.28	0.31
(1) Exchange rate: US$1.00 = Ch$608.90
(2) Includes only financial debt
(3) Total financial debt minus cash & equivalents plus other liquid assets