EX-2 3 exh2.htm EXHIBIT 2: INCOME STATEMENT (FULL YEAR 2006)

Exhibit 2: Income Statement (Twelve Months Ended December 31, 2006)
			Ch$ millions				US$ millions (1)				%
			31-Dec-06	31-Dec-05			31-Dec-06	31-Dec-05			Change
Net sales			545,797	502,380			1,025.2	943.6			8.6%
Cost of goods sold			(259,889)	(240,659)			(488.2)	(452.0)			8.0%
	% of sales		47.6%	47.9%			47.6%	47.9%
Gross profit			285,908	261,721			537.0	491.6			9.2%
	% of sales		52.4%	52.1%			52.4%	52.1%
SG&A			(206,215)	(193,855)			(387.3)	(364.1)			6.4%
	% of sales		37.8%	38.6%			37.8%	38.6%
Operating income			79,692	67,866			149.7	127.5			17.4%
	% of sales		14.6%	13.5%			14.6%	13.5%
Non-operating result
	Financial income		2,565	817			4.8	1.5			214.0%
	Equity in NI of rel. companies		108	7			0.2	0.0			1414.7%
	Other non-operating income		4,798	2,046			9.0	3.8			134.5%
	Amortization of goodwill		(3,579)	(2,631)			(6.7)	(4.9)			36.0%
	Interest expense		(7,613)	(7,568)			(14.3)	(14.2)			0.6%
	Other non-operating expenses		(5,553)	(1,984)			(10.4)	(3.7)			179.9%
	Price level restatement		(413)	(556)			(0.8)	(1.0)			-25.8%
	Currency exchange result		(221)	360			(0.4)	0.7			NM
	Total		(9,909)	(9,511)			(18.6)	(17.9)			4.2%
Income before taxes			69,783	58,355			131.1	109.6			19.6%
	Income taxes		(14,235)	(9,306)			(26.7)	(17.5)			53.0%
	Tax rate		20.4%	15.9%			20.4%	15.9%
Minority interest			236	87			0.4	0.2			171.4%
Amort. of negative goodwill			49	53			0.1	0.1			-7.4%
Net income			55,833	49,189			104.9	92.4			13.5%
	% of sales		10.2%	9.8%			10.2%	9.8%
Earnings per share			175.30	154.44			0.33	0.29			13.5%
Earnings per ADR			876.49	772.19			1.65	1.45
Weighted avg. shares (millions)			318.5	318.5			318.5	318.5
Depreciation			41,492	41,445			77.9	77.8			0.1%
Amortization			577	559			1.1	1.0			3.3%
EBITDA			121,761	109,869			228.7	206.4			10.8%
	% of sales		22.3%	21.9%			22.3%	21.9%
Capital expenditures			40,976	39,157			77.0	73.5			4.6%
(1) Exchange rate: US$1.00 = Ch$532.39