D&S net profits increased by 23.7% en 2007
27 Février 2008 - 2:36AM
PR Newswire (US)
Totaling Ch$52,681 million (US$106.0 million): SANTIAGO, Chile,
Feb. 26 /PRNewswire-FirstCall/ -- D&S showed a 23.7% increase
in profits, to Ch$52,681 million (US$ 106 million) in 2007 from
Ch$42,587 million (US$85.7 million) in 2006. The company presented
strong growth in operating profits, amounting to Ch$97,096 million
(US$195.4 millones), a 38.0% over the previous year, driven by the
expansion in consolidated revenues and the operating expenses
reduction, due in turn to the consolidation of its Operational
Excellence program. Meanwhile, EBITDA also featured vigorous
growth, reaching Ch$157,451 million (US$316.9 million), 24.7%
higher than in the previous year. Net revenues increased by 4.6%,
from Ch$1,822,218 million in 2006 to Ch$1,905,780 million (US$
3,835.4 million) in 2007. The breakdown of revenues by business
area areas de negocio shows that the retail area with the different
supermarket formats (hypermarket, supermarkets, warehouse and
discount stores) contributed Ch$1,763,510 million, a 3,2% increase
in 2007. The financial services division presented a 25.9% revenues
growth, and real state revenues increased by 22.7%. According to
D&S's Chief Financial Officer, Alejandro Droste, "the positive
results are primarily attributable to the consistency in the
Company's execution of its development strategy, involving on one
hand sustained revenue growth and productivity increases on the
other, which was consolidated during 2007." Non-operating expenses
amounted to Ch$37,684 million, an increase of 28.4% compared to
2006, explained by higher financial expenses and other non-
operating expenses. During the January-December period the Company
added 28,220 sq.m. of sales area due to the opening of 11 LIDER
stores and 2 warehouse stores along with the remodeling of Express
La Dehesa supermarket, which added 800sq.m. of sales area.
Additionally, 32 Ekono discount stores were opened during 2007.
Operating income for the fourth quarter 2007 amounted to Ch$30,999
million, a 35.4% increase compared to Ch$22,901 million for the
same period in 2006. Net income for this quarter decreased by 6.6%.
Consolidated Results Period January-December 2007 Ch$ millions US$
millions %of Rev. Sales 1,564,643 3,148.9 82.1% Other Income
341,137 686.5 17.9% Net revenues 1,905,780 3,835.4 100.0% Cost of
sales 1,365,292 2,747.7 71.6% Gross Income / Margin 540,488 1,087.7
28.4% Recurring Operating Expenses 381,446 767.7 20.0% Start-up
Expenses 1,592 3.2 0.1% Total Operating Expenses (SG&A) 383,038
770.9 20.1% EBITDA 157,451 316.9 8.3% Depreciation 60,355 121.5
3.2% Total Operating Expenses 443,393 892.3 23.3% Operating Income
97,096 195.4 5.1% Financial Expenses (29,101) (58.6) -1.5% Other
Non-operating Income (Expenses) (5,898) (11.9) -0.3% Monetary
Correction (484) (1.0) 0.0% Non-Operating Income (35,483) (71.4)
-1.9% Income before Tax 61,613 124.0 3.2% Income Tax (8,930) (18.0)
-0.5% Minority Interest (1) (0.0) 0.0% Income 52,681 106.0 2.8%
Amortization of Goodwill - - 0.0% Net Income 52,681 106.0 2.8% 2006
Ch$ millions US$ millions %of Rev. Sales 1,519,434 3,057.9 83.4%
Other Income 302,784 609.4 16.6% Net revenues 1,822,218 3,667.2
100.0% Cost of sales 1,320,395 2,657.3 72.5% Gross Income / Margin
501,823 1,009.9 27.5% Recurring Operating Expenses 374,529 753.7
20.6% Start-up Expenses 1,025 2.1 0.1% Total Operating Expenses
(SG&A) 375,554 755.8 20.6% EBITDA 126,269 254.1 6.9%
Depreciation 55,910 112.5 3.1% Total Operating Expenses 431,464
868.3 23.7% Operating Income 70,359 141.6 3.9% Financial Expenses
(25,508) (51.3) -1.4% Other Non-operating Income (Expenses) 1,520
3.1 0.1% Monetary Correction 1,361 2.7 0.1% Non-Operating Income
(22,628) (45.5) -1.2% Income before Tax 47,731 96.1 2.6% Income Tax
(5,177) (10.4) -0.3% Minority Interest 33 0.1 0.0% Income 42,587
85.7 2.3% Amortization of Goodwill - - 0.0% Net Income 42,587 85.7
2.3% Change % YoY Sales 3.0% Other Income 12.7% Net revenues 4.6%
Cost of sales 3.4% Gross Income / Margin 7.7% Recurring Operating
Expenses 1.8% Start-up Expenses 55.3% Total Operating Expenses
(SG&A) 2.0% EBITDA 24.7% Depreciation 7.9% Total Operating
Expenses 2.8% Operating Income 38.0% Financial Expenses 14.1% Other
Non-operating Income (Expenses) -488.2% Monetary Correction -135.5%
Non-Operating Income 56.8% Income before Tax 29.1% Income Tax 72.5%
Minority Interest -103.7% Income 23.7% Amortization of Goodwill Net
Income 23.7% Currency of December 2007, exchange rate
1US$=Ch$496.89 of December 31, 2007. DATASOURCE: D&S CONTACT:
Alejandro Droste, CFO, +56-2-484-7755, . or Miguel Nunez, Finance
manager Retail, +56-2-484-7754, , or Loreto Bradford, IRO,
+56-2-484-7757, all of D&S Web site: http://www.dys.cl/
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