Compared to the Same Period of 2006:
D&S’s Profits Increased by 48.7% for the Period January-September 2007
– Profits amounting to Ch$33,945 million are mainly due to the 5.3% increase in revenues and the 39.3% increase in operating income. The Company’s EBITDA increased 23.2%.
SANTIAGO, Chile, Oct. 25 /PRNewswire-FirstCall/ -- D&S, the main supermarket chain in Chile, showed net profits amounting to Ch$33,945 million (US$66.4 million), representing a 48.7% increase over results for the same period in 2006.
This increase is explained by the 5.3% growth in net revenues over the previous year, amounting to Ch$1,353,604 million (US$2,647.7 million) and by the 39.3% increase in operating income which totaled Ch$62,674 million (US$126.5 million). Gross income increased by 7.3% amounting to Ch$384,755 million.
Alejandro Droste, CFO of D&S, stated that “The significant increase in net revenues is mainly due to the 7.3% nominal increase in total sales, which is in turn the result of the 6.4% nominal increase in same store sales (SSS), and the net increase in 26,997 sq.m of sales area due to the opening of 11 Lider stores during the period October 2006 to September 2007”. These new stores represent a 6.0% increase in total sales area and they are 6 Express supermarkets and 5 Hiper Lider hypermarkets. Additionally, 22 Ekono stores, D&S’s discount format, have been opened during the period January-September 2007.
Net revenues from D&S’s financial services increased by 29.6% compared to the same period din 2006, amounting to Ch$83,258 million (US$162.9 million).
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Net revenues from D&S’s real estate subsidiary, Saitec, totaled Ch$16,817 million (US$32.9 million, a 16.0% increase over revenues for the period January-September of 2006.
The Company’s EBITDA was 23.2% higher, reaching Ch$108,224 million (US$211.7 million) compared to the period January-September 2006, representing 8.0% of revenues, a favorable result when compared to the 6.8% EBITDA margin for the Company during the same period of the previous year.
Consolidated Results Period January-September
| | 2007 | | 2006 | | Change | |
| | Ch$ million | | US$ million | | % of Rev. | | Ch$ million | | US$ million | | % of Rev. | | % YoY | |
Sales | | | 1,113,001 | | | 2,177.1 | | | 82.2 | % | | 1,073,453 | | | 2,099.7 | | | 83.5 | % | | 3.7 | % |
Other Income | | | 240,603 | | | 470.6 | | | 17.8 | % | | 211,935 | | | 414.6 | | | 16.5 | % | | 13.5 | % |
Net revenues | | | 1,353,604 | | | 2,647.7 | | | 100.0 | % | | 1,285,388 | | | 2,514.3 | | | 100.0 | % | | 5.3 | % |
Cost of sales | | | 968,849 | | | 1,895.1 | | | 71.6 | % | | 926,796 | | | 1,812.9 | | | 72.1 | % | | 4.5 | % |
Gross Income / Margin | | | 384,755 | | | 752.6 | | | 28.4 | % | | 358,592 | | | 701.4 | | | 27.9 | % | | 7.3 | % |
Recurring Operating Expenses | | | 275,512 | | | 538.9 | | | 20.4 | % | | 269,985 | | | 528.1 | | | 21.0 | % | | 2.0 | % |
Start-up Expenses | | | 1,019 | | | 2.0 | | | 0.1 | % | | 738 | | | 1.4 | | | 0.1 | % | | 38.0 | % |
Total Operating Expenses (SG&A) | | | 276,531 | | | 540.9 | | | 20.4 | % | | 270,723 | | | 529.6 | | | 21.1 | % | | 2.1 | % |
EBITDA | | | 108,224 | | | 211.7 | | | 8.0 | % | | 87,869 | | | 171.9 | | | 6.8 | % | | 23.2 | % |
Depreciation | | | 43,550 | | | 85.2 | | | 3.2 | % | | 41,434 | | | 81.0 | | | 3.2 | % | | 5.1 | % |
Total Operating Expenses | | | 320,081 | | | 626.1 | | | 23.6 | % | | 312,158 | | | 610.6 | | | 24.3 | % | | 2.5 | % |
Operating Income | | | 64,674 | | | 126.5 | | | 4.8 | % | | 46,435 | | | 90.8 | | | 3.6 | % | | 39.3 | % |
Financial Expenses | | | (19,974 | ) | | (39.1 | ) | | -1.5 | % | | (18,785 | ) | | (36.7 | ) | | -1.5 | % | | 6.3 | % |
Other Non-operating Income (Expenses) | | | (2,893 | ) | | (5.7 | ) | | -0.2 | % | | 715 | | | 1.4 | | | 0.1 | % | | -504.7 | % |
Monetary Correction | | | (602 | ) | | (1.2 | ) | | 0.0 | % | | 144 | | | 0.3 | | | 0.0 | % | | -518.4 | % |
Non-Operating Income | | | (23,469 | ) | | (45.9 | ) | | -1.7 | % | | (17,927 | ) | | (35.1 | ) | | -1.4 | % | | 30.9 | % |
Income before Tax | | | 41,205 | | | 80.6 | | | 3.0 | % | | 28,508 | | | 55.8 | | | 2.2 | % | | 44.5 | % |
Income Tax | | | (7,262 | ) | | (14.2 | ) | | -0.5 | % | | (5,717 | ) | | (11.2 | ) | | -0.4 | % | | 27.0 | % |
Minority Interest | | | 3 | | | 0.0 | | | 0.0 | % | | 34 | | | 0.1 | | | 0.0 | % | | -91.9 | % |
Income | | | 33,945 | | | 66.4 | | | 2.5 | % | | 22,825 | | | 44.6 | | | 1.8 | % | | 48.7 | % |
Amortization of Goodwill | | | - | | | - | | | 0.0 | % | | - | | | - | | | 0.0 | % | | | |
Net Income | | | 33,945 | | | 66.4 | | | 2.5 | % | | 22,825 | | | 44.6 | | | 1.8 | % | | 48.7 | % |
Figures in this report are expressed in US$ Millions, drawn from figures in Chilean pesos restated by the CPI at September 30, 2007 and converted into dollars using the observed exchange rate for the same date (1US$=Ch$511.23).
For further information, please contact:
Alejandro Droste, Chief Financial Officer: adroste@dys.cl
Phone: 56-2-484 7750
Miguel Núñez, Finance Manager Retail: mnunez@dyscorp.cl
Phone : 56-2-484 7754
Loreto Bradford, Investor Relations Officer: lbradford@dys.cl
Phone: 56-2-484 7757