EX-1 3 exh1.htm EXHIBIT 1:INCOME STATEMENT (FIRST QUARTER 2007)

	Exhibit 1: Income Statement (First Quarter 2007)
				Ch$ millions				US$ millions (1)
				Q1'07	Q1'06			Q1'07	Q1'06			% Change
	Net sales			159,808	143,043			296.4	265.3			11.7%
	Cost of goods sold			(70,339)	(62,957)			(130.4)	(116.8)			11.7%
		% of sales		44.0%	44.0%			44.0%	44.0%
	Gross profit			89,469	80,086			165.9	148.5			11.7%
		% of sales		56.0%	56.0%			56.0%	56.0%
	SG&A			(54,625)	(52,553)			(101.3)	(97.5)			3.9%
		% of sales		34.2%	36.7%			34.2%	36.7%
	Operating income			34,843	27,532			64.6	51.1			26.6%
		% of sales		21.8%	19.2%			21.8%	19.2%
	Non-operating result
		Financial income		891	990			1.7	1.8			-10.1%
		Equity in NI of rel. companies		(58)	12			(0.1)	0.0			NM
		Other non-operating income		665	276			1.2	0.5			141.0%
		Amortization of goodwill		(669)	(875)			(1.2)	(1.6)			-23.5%
		Interest expenses		(1,944)	(1,934)			(3.6)	(3.6)			0.5%
		Other non-operating expenses		(1,662)	(101)			(3.1)	(0.2)			1553.2%
		Price level restatement		(79)	494			(0.1)	0.9			NM
		Currency exchange result		80	(202)			0.1	(0.4)			NM
		Total		(2,776)	(1,340)			(5.1)	(2.5)			107.2%
	Income before taxes			32,067	26,193			59.5	48.6			22.4%
		Income taxes		(6,362)	(5,464)			(11.8)	(10.1)			16.4%
		Tax rate		19.8%	20.9%			19.8%	20.9%
	Minority interest			(253)	225			(0.5)	0.4			NM
	Amort. of negative goodwill			13	12			0.0	0.0			4.8%
	Net income			25,464	20,965			47.2	38.9			21.5%
		% of sales		15.9%	14.7%			15.9%	14.7%
	Earnings per share			79.95	65.82			0.15	0.12			21.5%
	Earnings per ADR			399.75	329.12			0.74	0.61
	Weighted avg. shares (millions)			318.5	318.5			318.5	318.5
	Depreciation			10,380	10,417			19.2	19.3			-0.4%
	Amortization			143	139			0.3	0.3			3.3%
	EBITDA			45,366	38,088			84.1	70.6			19.1%
		% of sales		28.4%	26.6%			28.4%	26.6%
	Capital expenditures			8,577	7,471			15.9	13.9			14.8%
(1) Exchange rate: US$1.00 = Ch$539.21