EX-5 6 e5.htm EXHIBIT 5:BALANCE

Exhibit 5: Balance Sheet
		Ch$ millions				US$ millions (1)
		Dec 31-2004	Dec 31-2003			Dec 31-2004	Dec 31-2003			% Change
ASSETS
Cash & equivalents		65,196	53,779			117.0	96.5			21.2%
Other current assets		158,032	151,402			283.5	271.6			4.4%
Total current assets		223,228	205,180			400.5	368.1			8.8%
PP&E, net		301,258	321,650			540.5	577.1			-6.3%
Other assets		67,755	64,834			121.6	116.3			4.5%
TOTAL ASSETS		592,241	591,664			1,062.5	1,061.5			0.1%
LIABILITIES &
STOCKHOLDERS' EQUITY
Short-term debt (2)		41,878	39,755			75.1	71.3			5.3%
Other current liabilities		83,339	84,513			149.5	151.6			-1.4%
Total current liabilities		125,217	124,269			224.6	222.9			0.8%
Long-term debt (2)		93,773	103,718			168.2	186.1			-9.6%
Other long-term liabilities		32,444	38,703			58.2	69.4			-16.2%
Total long-term liabilities		126,216	142,422			226.4	255.5			-11.4%
Minority interest		38,703	39,233			69.4	70.4			-1.3%
Stockholders' equity		302,104	285,741			542.0	512.6			5.7%
TOTAL LIABILITIES &
STOCKHOLDERS' EQUITY		592,241	591,664			1,062.5	1,061.5			0.1%
OTHER FINANCIAL INFORMATION
Cash & equivalents plus
other liquid assets		74,503	68,260			133.7	122.5			9.1%
Total financial debt		135,651	143,474			243.4	257.4			-5.5%
Net debt (3)		61,147	75,214			109.7	134.9			-18.7%
Liquidity ratio		1.78	1.65
Debt / Capitalization		0.29	0.31
(1) Exchange rate: US$1.00 = Ch$557.40
(2) Includes only financial debt
(3) Total financial debt minus cash & equivalents plus other liquid assets