EX-1 3 exh1.htm EXHIBIT 1: INCOME STATEMENT (FIRST QUARTER 2009)

Exhibit 1: Income Statement (First Quarter 2009)
			Ch$ millions				US$ millions (1)
			Q1'09	Q1'08			Q1'09	Q1'08			% Change
Net sales			214.821	193.567			368,3	331,9			11,0%
Cost of goods sold			(100.772)	(85.223)			(172,8)	(146,1)			18,2%
	% of sales		46,9%	44,0%			46,9%	44,0%
Gross profit			114.049	108.344			195,5	185,8			5,3%
	% of sales		53,1%	56,0%			53,1%	56,0%
SG&A			(72.181)	(65.176)			(123,8)	(111,7)			10,7%
	% of sales		33,6%	33,7%			33,6%	33,7%
Operating income			41.868	43.168			71,8	74,0			-3,0%
	% of sales		19,5%	22,3%			19,5%	22,3%
Non-operating result
	Financial income		1.381	988			2,4	1,7			39,8%
	Equity in NI of rel. companies		79	(200)			0,1	(0,3)			NM
	Other non-operating income		255	835			0,4	1,4			-69,4%
	Amortization of goodwill		(971)	(694)			(1,7)	(1,2)			39,9%
	Interest expenses		(3.777)	(2.440)			(6,5)	(4,2)			54,8%
	Other non-operating expenses		(1.906)	(624)			(3,3)	(1,1)			205,5%
	Price level restatement		1.132	122			1,9	0,2			826,1%
	Currency exchange result		(1.729)	(1.469)			(3,0)	(2,5)			17,8%
	Total		(5.537)	(3.482)			(9,5)	(6,0)			59,0%
Income before taxes			36.331	39.686			62,3	68,0			-8,5%
	Income taxes		(940)	(4.581)			(1,6)	(7,9)			-79,5%
	Tax rate		2,6%	11,5%			2,6%	11,5%
Minority interest			(844)	(625)			(1,4)	(1,1)			35,1%
Amort. of negative goodwill			108	12			0,2	0,0			789,8%
Net income			34.655	34.493			59,4	59,1			0,5%
	% of sales		16,1%	17,8%			16,1%	17,8%
Earnings per share			108,81	108,30			0,19	0,19			0,5%
Earnings per ADR			544,03	541,49			0,93	0,93
Weighted avg. shares (millions)			318,5	318,5			318,5	318,5
Depreciation			13.833	12.491			23,7	21,4			10,7%
Amortization			308	136			0,5	0,2			126,5%
EBITDA			56.009	55.795			96,0	95,7			0,4%
	% of sales		26,1%	28,8%			26,1%	28,8%
Capital expenditures			12.434	16.594			21,3	28,5			-25,1%
(1) Exchange rate: US$1.00 = Ch$583.26

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