EX-1 2 exh1.htm EXHIBIT 1: INCOME STATEMENT (FOURTH QUARTER 2006)

	Exhibit 1: Income Statement (Fourth Quarter 2006)
				Ch$ millions				US$ millions (1)				%
				Q4'06	Q4'05			Q4'06	Q4'05			Change
	Net sales			167,175	151,464			314.0	284.5			10.4%
	Cost of goods sold			(74,660)	(65,442)			(140.2)	(122.9)			14.1%
		% of sales		44.7%	43.2%			44.7%	43.2%
	Gross profit			92,516	86,022			173.8	161.6			7.5%
		% of sales		55.3%	56.8%			55.3%	56.8%
	SG&A			(60,884)	(59,680)			(114.4)	(112.1)			2.0%
		% of sales		36.4%	39.4%			36.4%	39.4%
	Operating income			31,632	26,342			59.4	49.5			20.1%
		% of sales		18.9%	17.4%			18.9%	17.4%
	Non-operating result
		Financial income		1,134	(0)			2.1	(0.0)			NM
		Equity in NI of rel. companies		2	34			0.0	0.1			-94.9%
		Other non-operating income		1,573	571			3.0	1.1			175.6%
		Amortization of goodwill		(665)	(643)			(1.2)	(1.2)			3.3%
		Interest expenses		(2,063)	(1,947)			(3.9)	(3.7)			6.0%
		Other non-operating expenses		(4,303)	(814)			(8.1)	(1.5)			428.4%
		Price level restatement		490	(447)			0.9	(0.8)			NM
		Currency exchange result		241	165			0.5	0.3			45.6%
		Total		(3,591)	(3,081)			(6.7)	(5.8)			16.5%
	Income before taxes			28,041	23,260			52.7	43.7			20.6%
		Income taxes		(5,406)	(4,248)			(10.2)	(8.0)			27.3%
		Tax rate		19.3%	18.3%			19.3%	18.3%
	Minority interest			(30)	625			(0.1)	1.2			NM
	Amort. of negative goodwill			12	16			0.0	0.0			-25.2%
	Net income			22,617	19,654			42.5	36.9			15.1%
		% of sales		13.5%	13.0%			13.5%	13.0%
	Earnings per share			71.01	61.71			0.13	0.12			15.1%
	Earnings per ADR			355.06	308.54			0.67	0.58
	Weighted avg. shares (millions)			318.5	318.5			318.5	318.5
	Depreciation			10,461	10,285			19.6	19.3			1.7%
	Amortization			140	150			0.3	0.3			-6.9%
	EBITDA			42,233	36,777			79.3	69.1			14.8%
		% of sales		25.3%	24.3%			25.3%	24.3%
	Capital expenditures			8,930	8,217			16.8	15.4			8.7%
	(1) Exchange rate: US$1.00 = Ch$532.39