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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6-K Filing
United Breweries (CCU) 6-KCcu Reports Consolidated First Quarter 2009 Results
Filed: 7 May 09, 12:00am