D&S First Quarter Results
02 Maio 2008 - 10:50AM
PR Newswire (US)
SANTIAGO, Chile, May 2 /PRNewswire-FirstCall/ -- Distribucion y
Servicio D&S S.A. (NYSE: DYS; Latibex: XDYS) announced earnings
for the first quarter 2008: Highlights I Quarter 2008 -- Net income
increased 11.7% to Ch$11,081 million (US$25.3 million). Net margin
increased 20 bp. to 2.4% of revenues. -- 12.0% increase in EBITDA,
which totaled Ch$37,669 million (US$86.1 million). EBITDA margin
increased 40 bp. to 8.0% of revenues. -- Operating income up 16.4%
to Ch$22,332 million (US$51.0 million). Operating margin increased
by 50 bp. to 4.8% of revenues. -- Gross income up 6.3%, amounting
to Ch$136,018 million (US$310.7 million). Gross margin increased by
20 bp. to 29.1% of revenues. -- 5.6% increase of net revenues to
Ch$468,142 million (US$1,069.5 million). -- New store openings: 13
new stores have been added compared to the closing of the first
quarter 2007. Of these, 7 are Express by LIDER, 5 are Hiper LIDER
and 3 are stores of the new warehouse concept, Superbodega Acuenta.
Additionally, one Express store was closed, one was transformed
into a warehouse Acuenta, and one Hiper LIDER store was remodeled
adding 1,716m2 of sales area. All this accounted for a net increase
of 41,608 m2 of sales area, equivalent to an increase of 9.0% over
total sales area at March 31, 2007. Additionally, 22 new Ekono
stores have been added to the 14 existing at March 31, 2007,
totaling 36 stores in operation. -- Financial debt reached
US$1,325.6 million, 55.5% short term. -- Net income for the quarter
= Ch$1.70/share; Ch$101.97/ADR; US$0.23/ADR. *Figures in this
report are expressed in US$ Millions, drawn from figures in Chilean
pesos restated by the CPI at March 31, 2008 and converted into
dollars using the observed exchange rate for the same date
(1US$=Ch$437.71). Results of Operations -- First Quarter 2008 The
following table sets forth the main items of the income statement
for the periods indicated, their respective percentages of net
revenues and percentages change between periods: I Quarter
Consolidated Results 2008 2007 Var. Ch$ US$ % Ch$ US$ % % million
million of million million of Rev. Rev. Sales 382,228 873.2 81.6%
363,510 830.5 82.0% 5.1% Other Income 85,914 196.3 18.4% 79,953
182.7 18.0% 7.5% Net revenues 468,142 1069.5 100.0% 443,464 1013.1
100.0% 5.6% Cost of sales 332,124 758.8 70.9% 315,474 720.7 71.1%
5.3% Gross Income / Margin 136,018 310.7 29.1% 127,989 292.4 28.9%
6.3% Recurring Operating Expenses 98,192 224.3 21.0% 94,125 215.0
21.2% 4.3% Start-up Expenses 157 0.4 0.0% 234 0.5 0.1% -32.9% Total
Operating Expenses (SG&A) 98,349 224.7 21.0% 94,358 215.6 21.3%
4.2% EBITDA 37,669 86.1 8.0% 33,631 76.8 7.6% 12.0% Depreciation
15,337 35.0 3.3% 14,451 33.0 3.3% 6.1% Total Operating Expenses
113,685 259.7 24.3% 108,810 248.6 24.5% 4.5% Operating Income
22,332 51.0 4.8% 19,179 43.8 4.3% 16.4% Financial Expenses (7,418)
(16.9) -1.6% (6,524) (14.9) -1.5% 13.7% Other Non-operating Income
(Expenses) (240) (0.5) -0.1% (412) (0.9) -0.1% -41.6% Monetary
Correction (1,343) (3.1) -0.3% (325) (0.7) -0.1% 313.0%
Non-Operating Income (9,001) (20.6) -1.9% (7,260) (16.6) -1.6%
24.0% Income before Tax 13,331 30.5 2.8% 11,919 27.2 2.7% 11.8%
Income Tax (2,264) (5.2) -0.5% (2,022) (4.6) -0.5% 12.0% Minority
Interest 14 0.0 0.0% 23 0.1 0.0% -38.4% Income 11,081 25.3 2.4%
9,920 22.7 2.2% 11.7% Amortization of Goodwill - 0.0 0.0% - 0.0
0.0% Net Income 11,081 25.3 2.4% 9,920 22.7 2.2% 11.7% Currency of
March 2008, exchange rate US$=Ch$437.71 of March 31, 2008. 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 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, , Miguel Nunez
S., Finance Manager, +011-56-2-484-7754, , 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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