EX-1 3 ex1.htm EXHIBIT 1: INCOME STATEMENT (SECOND QUARTER 2007)

Exhibit 1: Income Statement (Second Quarter 2007)
			Ch$ millions				US$ millions (1)				%
			Q2'07	Q2'06			Q2'07	Q2'06			Change
Net sales			120.936	113.343			229,5	215,1			6,7%
Cost of goods sold			(62.406)	(61.272)			(118,4)	(116,3)			1,9%
	% of sales		51,6%	54,1%			51,6%	54,1%
Gross profit			58.530	52.071			111,1	98,8			12,4%
	% of sales		48,4%	45,9%			48,4%	45,9%
SG&A			(48.545)	(46.300)			(92,1)	(87,9)			4,8%
	% of sales		40,1%	40,8%			40,1%	40,8%
Operating income			9.985	5.770			19,0	11,0			73,0%
	% of sales		8,3%	5,1%			8,3%	5,1%
Non-operating result
	Financial income		320	222			0,6	0,4			44,1%
	Equity in NI of rel. companies		(224)	64			(0,4)	0,1			NM
	Other non-operating income		1.062	2.434			2,0	4,6			-56,4%
	Amortization of goodwill		(662)	(1.410)			(1,3)	(2,7)			-53,1%
	Interest expenses		(1.928)	(1.831)			(3,7)	(3,5)			5,3%
	Other non-operating expenses		(820)	(506)			(1,6)	(1,0)			62,2%
	Price level restatement		(1.046)	(600)			(2,0)	(1,1)			74,4%
	Currency exchange result		274	(294)			0,5	(0,6)			NM
	Total		(3.024)	(1.921)			(5,7)	(3,6)			57,4%
Income before taxes			6.961	3.849			13,2	7,3			80,8%
	Income taxes		(258)	(865)			(0,5)	(1,6)			-70,1%
	Tax rate		3,7%	22,5%			3,7%	22,5%
Minority interest			(427)	375			(0,8)	0,7			NM
Amort. of negative goodwill			13	13			0,0	0,0			-2,4%
Net income			6.288	3.372			11,9	6,4			86,5%
	% of sales		5,2%	3,0%			5,2%	3,0%
Earnings per share			19,74	10,59			0,04	0,02			86,5%
Earnings per ADR			98,71	52,94			0,19	0,10
Weighted avg. shares (millions)			318,5	318,5			318,5	318,5
Depreciation			10.721	10.705			20,3	20,3			0,1%
Amortization			142	167			0,3	0,3			-14,9%
EBITDA			20.848	16.642			39,6	31,6			25,3%
	% of sales		17,2%	14,7%			17,2%	14,7%
Capital expenditures			14.012	10.168			26,6	19,3			37,8%
(1) Exchange rate: US$1.00 = Ch$526.86