EX-1 7 exhibit1.htm EXHIBIT 1: INCOME STATEMENT

Exhibit 1: Income Statement (Second Quarter 2008)
			Ch$ millions				US$ millions (1)				%
			Q2'08	Q2'07			Q2'08	Q2'07			Change
Net sales			148.846	131.616			283,0	250,2			13,1%
Cost of goods sold			(73.645)	(67.924)			(140,0)	(129,1)			8,4%
	% of sales		49,5%	51,6%			49,5%	51,6%
Gross profit			75.201	63.693			143,0	121,1			18,1%
	% of sales		50,5%	48,4%			50,5%	48,4%
SG&A			(60.579)	(52.837)			(115,2)	(100,4)			14,7%
	% of sales		40,7%	40,1%			40,7%	40,1%
Operating income			14.622	10.855			27,8	20,6			34,7%
	% of sales		9,8%	8,2%			9,8%	8,2%
Non-operating result
	Financial income		(98)	348			(0,2)	0,7			NM
	Equity in NI of rel. companies		212	(244)			0,4	(0,5)			NM
	Other non-operating income		433	1.157			0,8	2,2			-62,6%
	Amortization of goodwill		(835)	(720)			(1,6)	(1,4)			16,0%
	Interest expenses		(2.884)	(2.098)			(5,5)	(4,0)			37,4%
	Other non-operating expenses		(1.455)	(893)			(2,8)	(1,7)			63,0%
	Price level restatement		(794)	(1.139)			(1,5)	(2,2)			-30,3%
	Currency exchange result		2.713	298			5,2	0,6			809,1%
	Total		(2.707)	(3.291)			(5,1)	(6,3)			-17,8%
Income before taxes			11.915	7.564			22,6	14,4			57,5%
	Income taxes		2.045	(278)			3,9	(0,5)			NM
	Tax rate		-17,2%	3,7%			-17,2%	3,7%
Minority interest			(1.277)	(465)			(2,4)	(0,9)			174,4%
Amort. of negative goodwill			14	14			0,0	0,0			6,2%
Net income			12.698	6.834			24,1	13,0			85,8%
	% of sales		8,5%	5,2%			8,5%	5,2%
Earnings per share			39,87	21,46			0,08	0,04			85,8%
Earnings per ADR			199,34	107,29			0,38	0,20
Weighted avg. shares (millions)			318,5	318,5			318,5	318,5
Depreciation			12.760	11.670			24,3	22,2			9,3%
Amortization			271	155			0,5	0,3			75,2%
EBITDA			27.652	22.679			52,6	43,1			21,9%
	% of sales		18,6%	17,2%			18,6%	17,2%
Capital expenditures			17.905	15.254			34,0	29,0			17,4%
(1) Exchange rate: US$1.00 = Ch$526.05