EX-2 4 ex2.htm EXHIBIT 2: INCOME STATEMENT (YEAR TO DATE 2006)

Exhibit 2: Income Statement (Nine Months Ended September 30, 2006)
			Ch$ millions				US$ millions (1)				%
			30-Sep-06	30-Sep-05			30-Sep-06	30-Sep-05			Change
Net sales			380,142	352,325			707.9	656.1			7.9%
Cost of goods sold			(185,974)	(175,920)			(346.3)	(327.6)			5.7%
	% of sales		48.9%	49.9%			48.9%	49.9%
Gross profit			194,169	176,405			361.6	328.5			10.1%
	% of sales		51.1%	50.1%			51.1%	50.1%
SG&A			(145,916)	(134,714)			(271.7)	(250.8)			8.3%
	% of sales		38.4%	38.2%			38.4%	38.2%
Operating income			48,253	41,691			89.9	77.6			15.7%
	% of sales		12.7%	11.8%			12.7%	11.8%
Non-operating result
	Financial income		1,437	821			2.7	1.5			75.2%
	Equity in NI of rel. companies		106	(27)			0.2	(0.1)			NM
	Other non-operating income		3,237	1,481			6.0	2.8			118.6%
	Amortization of goodwill		(2,927)	(1,996)			(5.4)	(3.7)			46.6%
	Interest expense		(5,573)	(5,644)			(10.4)	(10.5)			-1.3%
	Other non-operating expenses		(1,256)	(1,175)			(2.3)	(2.2)			6.9%
	Price level restatement		(906)	(110)			(1.7)	(0.2)			727.0%
	Currency exchange result		(464)	195			(0.9)	0.4			NM
	Total		(6,344)	(6,455)			(11.8)	(12.0)			-1.7%
Income before taxes			41,909	35,236			78.0	65.6			18.9%
	Income taxes		(8,864)	(5,079)			(16.5)	(9.5)			74.5%
	Tax rate		21.2%	14.4%			21.2%	14.4%
Minority interest			267	(541)			0.5	(1.0)			NM
Amort. of negative goodwill			37	37			0.1	0.1			0.4%
Net income			33,349	29,654			62.1	55.2			12.5%
	% of sales		8.8%	8.4%			8.8%	8.4%
Earnings per share			104.71	93.10			0.19	0.17			12.5%
Earnings per ADR			523.53	465.51			0.97	0.87
Weighted avg. shares (millions)			318.5	318.5			318.5	318.5
Depreciation			31,156	31,285			58.0	58.3			-0.4%
Amortization			439	410			0.8	0.8			7.0%
EBITDA			79,848	73,386			148.7	136.7			8.8%
	% of sales		21.0%	20.8%			21.0%	20.8%
Capital expenditures			32,175	31,065			59.9	57.8			3.6%
(1) Exchange rate: US$1.00 = Ch$537.03