Exhibit 1: Income Statement (First Quarter 2008) | ||||||||||||
Ch$ millions | US$ millions (1) | |||||||||||
Q1'08 | Q1'07 | Q1'08 | Q1'07 | % Change | ||||||||
Net sales | 183.476 | 172.753 | 419,2 | 394,7 | 6,2% | |||||||
Cost of goods sold | (80.781) | (76.037) | (184,6) | (173,7) | 6,2% | |||||||
% of sales | 44,0% | 44,0% | 44,0% | 44,0% | ||||||||
Gross profit | 102.696 | 96.715 | 234,6 | 221,0 | 6,2% | |||||||
% of sales | 56,0% | 56,0% | 56,0% | 56,0% | ||||||||
SG&A | (61.778) | (59.050) | (141,1) | (134,9) | 4,6% | |||||||
% of sales | 33,7% | 34,2% | 33,7% | 34,2% | ||||||||
Operating income | 40.918 | 37.666 | 93,5 | 86,1 | 8,6% | |||||||
% of sales | 22,3% | 21,8% | 22,3% | 21,8% | ||||||||
Non-operating result | ||||||||||||
Financial income | 936 | 963 | 2,1 | 2,2 | -2,8% | |||||||
Equity in NI of rel. companies | (189) | (63) | (0,4) | (0,1) | 199,2% | |||||||
Other non-operating income | 791 | 503 | 1,8 | 1,1 | 57,3% | |||||||
Amortization of goodwill | (658) | (724) | (1,5) | (1,7) | -9,1% | |||||||
Interest expenses | (2.313) | (2.101) | (5,3) | (4,8) | 10,1% | |||||||
Other non-operating expenses | (592) | (1.580) | (1,4) | (3,6) | -62,6% | |||||||
Price level restatement | 116 | (85) | 0,3 | (0,2) | NM | |||||||
Currency exchange result | (1.392) | 87 | (3,2) | 0,2 | NM | |||||||
Total | (3.300) | (3.001) | (7,5) | (6,9) | 10,0% | |||||||
Income before taxes | 37.617 | 34.665 | 85,9 | 79,2 | 8,5% | |||||||
Income taxes | (4.342) | (6.878) | (9,9) | (15,7) | -36,9% | |||||||
Tax rate | 11,5% | 19,8% | 11,5% | 19,8% | ||||||||
Minority interest | (592) | (274) | (1,4) | (0,6) | 116,1% | |||||||
Amort. of negative goodwill | 12 | 14 | 0,0 | 0,0 | -17,9% | |||||||
Net income | 32.695 | 27.527 | 74,7 | 62,9 | 18,8% | |||||||
% of sales | 17,8% | 15,9% | 17,8% | 15,9% | ||||||||
Earnings per share | 102,65 | 86,43 | 0,23 | 0,20 | 18,8% | |||||||
Earnings per ADR | 513,26 | 432,13 | 1,17 | 0,99 | ||||||||
Weighted avg. shares (millions) | 318,5 | 318,5 | 318,5 | 318,5 | ||||||||
Depreciation | 11.699 | 11.220 | 26,7 | 25,6 | 4,3% | |||||||
Amortization | 129 | 155 | 0,3 | 0,4 | -16,8% | |||||||
EBITDA | 52.746 | 49.041 | 120,5 | 112,0 | 7,6% | |||||||
% of sales | 28,7% | 28,4% | 28,7% | 28,4% | ||||||||
Capital expenditures | 14.919 | 8.955 | 34,1 | 20,5 | 66,6% | |||||||
(1) Exchange rate: US$1.00 = Ch$437.71 | ||||||||||||
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6-K Filing
Compañía Cervecerías Unidas (CCU) 6-KCcu First Quarter 2008 Results
Filed: 6 May 08, 12:00am