D&S's Profits Increased 50.4% During the First Half of 2007
09 Août 2007 - 7:56PM
PR Newswire (US)
- Profits amounting to Ch$21,299 million (US$40.4 million) are
mainly due to the 31.7% improvement in operating income. At the
same time, the Company's EBITDA increased 17.7%, equivalent to 7.6%
of revenues SANTIAGO, Chile, Aug. 9 /PRNewswire-FirstCall/ --
During the first half of 2007 D&S, the main supermarket chain
in Chile, showed net profits of Ch$21,299 million (US$40.4
million), representing a 50.4% growth over results for the same
period in 2006. This increase is explained by the 5.5% increase in
revenues compared to the previous year, amounting to Ch856,301
million (US$1,625.3 million) and by the 31.7% improvement in
operating income, amounting to Ch$37,714 million (US$71.6 million).
"The significant increase in D&S's profits is manly due to the
3.6% nominal increase in same store sales (SSS), in addition to the
opening of 13 new LIDER stores and a 38.5% increase in revenues at
PRESTO financial division in comparison with the same period of
2006, amounting to Ch$54,111 million (US$102.7 million)," explained
the Company CFO, Mr. Alejandro Droste. With regards to operating
profit, Droste said, the improvement came from the selling and
administrative expenses reduction at the supermarket division due
to the implementation of the Operational Excellence focused on
maximizing efficiencies throughout the Company, especially the
LIDER retail division. Compared to the closing of the first half of
2006, 13 new stores have been opened -- 5 Hiper by LIDER
hypermarkets and 8 Express by LIDER supermarkets -- resulting in a
6.5% increase in sales area, which currently totals 476,720 square
meters. Out of these 13 stores, 4 were opened during the month of
June 2007, hence their scarce contribution to the total sales
increase for the period. In addition to the LIDER openings, 19
Ekono discount stores have been opened as of today. However, their
impact on consolidated Company sales is still marginal, Droste
remarked. The Company's EBITDA increased by 17.7%, amounting to
Ch$65,364 million (US$124.1 million) compared to the first half of
2006. EBITDA margin for the period was equivalent to 7.6% of
revenues, which compares favorably to the 6.8% EBITDA margin shown
in the same period the previous year. As of today, D&S has 33
hypermarkets and 28 compact hypermarkets Hiper by LIDER, 45
supermarkets Express by LIDER, 19 Ekono discount stores and 9
shopping centers. Consolidated Results Period January-June 2007 Ch$
US$ % of Rev. millions millions Sales 703,713 1,335.7 82.2% Other
Income 152,588 289.6 17.8% Net revenues 856,301 1,625.3 100.0% Cost
of sales 609,726 1,157.3 71.2% Gross Income / Margin 246,575 468.0
28.8% Recurring Operating Expenses 180,833 343.2 21.1% Start-up
Expenses 378 0.7 0.0% Total Operating Expenses (SG&A) 181,210
343.9 21.2% EBITDA 65,364 124.1 7.6% Depreciation 27,650 52.5 3.2%
Total Operating Expenses 208,860 396.4 24.4% Operating Income
37,714 71.6 4.4% Financial Expenses (10,891) (20.7) -1.3% Other
Non-operating Income (Expenses) (591) (1.1) -0.1% Monetary
Correction (449) (0.9) -0.1% Non-Operating Income (11,931) (22.6)
-1.4% Income before Tax 25,783 48.9 3.0% Income Tax (4,502) (8.5)
-0.5% Minority Interest 17 0.0 0.0% Income 21,299 40.4 2.5%
Amortization of Goodwill - - 0.0% Net Income 21,299 40.4 2.5%
Consolidated Results Period January-June 2006 Ch$ US$ % of Change
millions millions Rev. % YoY Sales 679,532 1,289.8 83.7% 3.6% Other
Income 132,259 251.0 16.3% 15.4% Net revenues 811,791 1,540.8
100.0% 5.5% Cost of sales 585,293 1,110.9 72.1% 4.2% Gross Income /
Margin 226,498 429.9 27.9% 8.9% Recurring Operating Expenses
170,362 323.4 21.0% 6.1% Start-up Expenses 597 1.1 0.1% -36.7%
Total Operating Expenses (SG&A) 170,959 324.5 21.1% 6.0% EBITDA
55,539 105.4 6.8% 17.7% Depreciation 26,895 51.0 3.3% 2.8% Total
Operating Expenses 197,854 375.5 24.4% 5.6% Operating Income 28,644
54.4 3.5% 31.7% Financial Expenses (11,224) (21.3) -1.4% -3.0%
Other Non-operating Income (Expenses) 174 0.3 0.0% -439.3% Monetary
Correction (71) (0.1) 0.0% 534.5% Non-Operating Income (11,120)
(21.1) -1.4% 7.3% Income before Tax 17,524 33.3 2.2% 47.1% Income
Tax (3,385) (6.4) -0.4% 33.0% Minority Interest 19 0.0 0.0% -9.2%
Income 14,158 26.9 1.7% 50.4% Amortization of Goodwill - - 0.0% Net
Income 14,158 26.9 1.7% 50.4% Figures in this report are expressed
in US$ Millions, drawn from figures in Chilean pesos restated by
the CPI at June 30, 2007 and converted into dollars using the
observed exchange rate for the same date (1US$=Ch$526.86). For
further information, please contact: Alejandro Droste, Chief
Financial Officer: Phone: 56-2-484 7750 Loreto Bradford, Investor
Relations Officer: Phone: 56-2-484 7757 DATASOURCE: Distribucion y
Servicio D&S S.A. CONTACT: Alejandro Droste, Chief Financial
Officer, +011-56-2-484-7750, , Loreto Bradford, Investor Relations
Officer, +011-56-2-484-7757, , both of D&S Web site:
http://www.dys.cl/
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