D&S Second Quarter Results
09 Agosto 2007 - 2:55PM
PR Newswire (US)
SANTIAGO, Chile, Aug. 9 /PRNewswire-FirstCall/ -- Distribucion y
Servicio D&S S.A. (NYSE: DYS; Latibex: XDYS) announces earnings
for the second quarter 2007. Highlights II Quarter 2007 * 39.2%
increase in net profit to Ch$11,975 million (US$22.7 million)
representing 2.7% of revenues. * Net income for the quarter =
Ch$1.84/share; Ch$110.20/ADR; US$0.21/ADR 18.6% increase in EBITDA.
EBITDA margin increased 90 bp. to 7.8% of revenues. * Operating
income up 27.8% to Ch$20,427 million (US$38.8 million). Operating
margin increased by 80 bp. to 4.6% of revenues. * 6.0% nominal
increase in total sales, 3.8% nominal increase in same store sales
(SSS). * New store openings: 13 new stores have been added compared
to the closing of the second quarter 2006: 8 stores in the period
June-December 2006 (6 supermarkets Express by LIDER, 2 compact
hypermarkets Hiper by LIDER) and 5 stores in the period
January-June 2007 (2 Express by LIDER: Consistorial in Penalolen,
Metropolitan Region, with 1,640 m2 of sales area and La
Serena-Balmaceda in the IV Region, with 2,161 m2; 2 compact
hypermarkets Hiper by LIDER: Coronel in the VIII Region with 4,196
m2 and Melipilla in the Metropolitan Region with 4,196 m2; and one
hypermarket in Chillan, VIII Region, with 6,398 m2). On the other
hand, Express Pajaritos store (2,891 m2) was closed in November
2006, and hypermarket LIDER Kennedy (6,975 m2) and Express Parque
Arauco (500 m2) were closed in January 2007. All this resulted in a
net increase of 25,878m2 of sales area, equivalent to a 6.5% growth
over sales area since June 30, 2006. * Financial debt as of June
30, 2007 amounts to US$874.7 million, 42.1% short term. Figures in
this report are expressed in US$ 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$526.86). Second Quarter Consolidated Results 2007 2006
Var. Ch$ US$ % Ch$ US$ % % millones millones of millones millones
of revenue revenue Sales 362,060 687.2 82.4% 351,070 666.3 83.8%
3.1% Other Income 77,442 147.0 17.6% 67,885 128.8 16.2% 14.1% Net
revenues 439,503 834.2 100.0% 418,955 795.2 100.0% 4.9% Cost of
sales 313,221 594.5 71.3% 302,111 573.4 72.1% 3.7% Gross Income /
Margin 126,281 239.7 28.7% 116,844 221.8 27.9% 8.1% Recurring
Operating Expenses 91,628 173.9 20.8% 87,549 166.2 20.9% 4.7%
Start-up Expenses 158 0.3 0.0% 208 0.4 0.0% -3.8% Total Operating
Expenses (SG&A) 91,787 174.2 20.9% 87,757 166.6 20.9% 4.6%
EBITDA 34,495 65.5 7.8% 29,088 55.2 6.9% 18.6% Depreciation 14,068
26.7 3.2% 13,103 24.9 3.1% 7.4% Total Operating Expenses 105,854
200.9 24.1% 100,860 191.4 24.1% 5.0% Operating Income 20,427 38.8
4.6% 15,985 30.3 3.8% 27.8% Financial Expenses (5,499) (10.4) -1.3%
(5,920) (11.2) -1.4% -1% Other Non-operating Income (Expenses)
(205) (0.4) 0.0% 284 0.5 0.1% -72.0% Monetary Correction (143)
(0.3) 0.0% 504 1.0 0.1% -28.5% Non-Operating Income (5,847) (11.1)
-1.3% (5,132) (9.7) -1.2% 13.9% Income before Tax 14,580 27.7 3.3%
10,852 20.6 2.6% 34.4% Income Tax (2,602) (4.9) -0.6% (2,256) (4.3)
-0.5% 15.3% Minority Interest (4) (0.0) 0.0% 9 0.0 0.0% -46.5%
Income 11,975 22.7 2.7% 8,605 16.3 2.1% 39.2% Amortization of
Goodwill - 0.0 0.0% - 0.0 0.0% Net Income 11,975 22.7 2.7% 8,605
16.3 2.1% 39.2% For an extended version, visit our website
http://www.dys.cl/ For further information please contact:
Alejandro Droste Chief Financial Officer 56-2-484 7754 Miguel Nunez
S. Finance Manager Retail 56-2-484 7754 Loreto Bradford Investor
Relations Officer 56-2-484 7757 DATASOURCE: Distribucion y Servicio
D&S S.A. CONTACT: Alejandro Droste, Chief Financial Officer,
+011-56-2-484-7754, , or Miguel Nunez S., Finance Manager Retail,
+011-56-2-484-7754, , or Loreto Bradford, Investor Relations
Officer, +011-56-2-484-7757, , all of Distribucion y Servicio Web
site: http://www.dys.cl/
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