Exhibit 2: Income Statement (Six Months Ended June 30, 2008) | |||||||||||
Ch$ millions | US$ millions (1) | % | |||||||||
30-June-08 | 30-June-07 | 30-June-08 | 30-June-07 | Change | |||||||
Net sales | 336.726 | 308.515 | 640,1 | 586,5 | 9,1% | ||||||
Cost of goods sold | (156.364) | (145.786) | (297,2) | (277,1) | 7,3% | ||||||
% of sales | 46,4% | 47,3% | 46,4% | 47,3% | |||||||
Gross profit | 180.361 | 162.729 | 342,9 | 309,3 | 10,8% | ||||||
% of sales | 53,6% | 52,7% | 53,6% | 52,7% | |||||||
SG&A | (123.840) | (113.304) | (235,4) | (215,4) | 9,3% | ||||||
% of sales | 36,8% | 36,7% | 36,8% | 36,7% | |||||||
Operating income | 56.522 | 49.425 | 107,4 | 94,0 | 14,4% | ||||||
% of sales | 16,8% | 16,0% | 16,8% | 16,0% | |||||||
Non-operating result | |||||||||||
Financial income | 861 | 1.334 | 1,6 | 2,5 | -35,5% | ||||||
Equity in NI of rel. companies | 19 | (309) | 0,0 | (0,6) | NM | ||||||
Other non-operating income | 1.243 | 1.672 | 2,4 | 3,2 | -25,6% | ||||||
Amortization of goodwill | (1.509) | (1.461) | (2,9) | (2,8) | 3,3% | ||||||
Interest expense | (5.252) | (4.250) | (10,0) | (8,1) | 23,6% | ||||||
Other non-operating expenses | (2.060) | (2.511) | (3,9) | (4,8) | -17,9% | ||||||
Price level restatement | (676) | (1.227) | (1,3) | (2,3) | -44,9% | ||||||
Currency exchange result | 1.288 | 387 | 2,4 | 0,7 | 232,6% | ||||||
Total | (6.086) | (6.364) | (11,6) | (12,1) | -4,4% | ||||||
Income before taxes | 50.435 | 43.060 | 95,9 | 81,9 | 17,1% | ||||||
Income taxes | (2.401) | (7.321) | (4,6) | (13,9) | -67,2% | ||||||
Tax rate | 4,8% | 17,0% | 4,8% | 17,0% | |||||||
Minority interest | (1.883) | (746) | (3,6) | (1,4) | 152,5% | ||||||
Amort. of negative goodwill | 26 | 28 | 0,0 | 0,1 | -6,2% | ||||||
Net income | 46.177 | 35.022 | 87,8 | 66,6 | 31,9% | ||||||
% of sales | 13,7% | 11,4% | 13,7% | 11,4% | |||||||
Earnings per share | 144,98 | 109,96 | 0,28 | 0,21 | 31,9% | ||||||
Earnings per ADR | 724,91 | 549,79 | 1,38 | 1,05 | |||||||
Weighted avg. shares (millions) | 318,5 | 318,5 | 318,5 | 318,5 | |||||||
Depreciation | 24.740 | 23.159 | 47,0 | 44,0 | 6,8% | ||||||
Amortization | 403 | 313 | 0,8 | 0,6 | 28,6% | ||||||
EBITDA | 81.664 | 72.897 | 155,2 | 138,6 | 12,0% | ||||||
% of sales | 24,3% | 23,6% | 24,3% | 23,6% | |||||||
Capital expenditures | 33.183 | 24.424 | 63,1 | 46,4 | 35,9% | ||||||
(1) Exchange rate: US$1.00 = Ch$526.05 |
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6-K Filing
United Breweries (CCU) 6-KCcu Reports Consolidated Second Quarter 2008 and Year to Date Results
Filed: 12 Aug 08, 12:00am