SANTIAGO, Chile, March 2 /PRNewswire-FirstCall/ -- Supermercados Unimarc S.A., a Chilean retailer, today announced results for the fourth quarter and year-end 2006. Figures are expressed in Chilean pesos at December 31, 2006 and are reported in accordance with Chilean Generally Accepted Accounting Principles (Chilean GAAP). At December 31, 2006, the exchange rate was Ch$532.39 = US$1.
Supermercados Unimarc reported net sales during fourth quarter 2006 of Ch$32,130 million, a 3.0% increase compared to Ch$ 31,207 million reported during the same period 2005.
Net sales for 2006 were Ch$118,091 million, a 5.0% increase compared to Ch$112,509 million reported during the year 2005.
Net sales increased in fourth quarter 2006 due to greater market presence by Unihome, our non-food business.
Gross profit during fourth quarter 2006 was Ch$7,339 million, a 0.1% improvement compared to Ch$7,330 million in the same period 2005.
Gross profit during 2006 was Ch$28,825 million, an improvement of 5.0% compared to the Ch$27,453 million reported in 2005.
As a percentage of sales, gross margins were 22.8% during the fourth quarter 2006, compared to 23.5% during the same period 2005.
Gross margins for the year 2006 were 24.4%, the same as in 2005.
Selling, General and Administrative (SG&A) expenses during fourth quarter 2006 were Ch$8,812 million, a 3.0% increase compared to Ch$8,555 million reported in fourth quarter 2005.
For the year 2006, SG&A expenses were Ch$32,261 million, a 2.0% increase compared to Ch$31,643 million reported in 2005.
As a percentage of sales, SG&A expenses remained unchanged in the fourth quarter 2006 compared to fourth quarter 2005 at 27.4%.
SG&A expenses as a percentage of sales were 27.3% for the year 2006 and 28.1% for 2005.
Operating loss during the fourth quarter 2006 was Ch$1,472 million, and during fourth quarter 2005, Ch$1,225 million. The result was attributed to greater SG&A expenses.
Operating loss for the year 2006 was Ch$3,436 million, compared to Ch$4,190 million in 2005. The result is due to greater net sales.
Non-operating result for the fourth quarter was Ch$-404 million, and during fourth quarter 2005, Ch$-1,136 million. This improvement is explained mainly by other non-operating income and price level restatement.
Non-operating result for the year 2006 was Ch$-3,480 million; for the year 2005, it was Ch$-3,961 million. The increase is explained mainly by financial income, amortization of goodwill loss and interest expenses.
Net loss in fourth quarter 2006 was Ch$2,029 million, versus net loss of Ch$2,261 million in fourth quarter 2005.
Net loss for the year 2006 was Ch$7,905 million, while net loss for the year 2005 was Ch$8,294 million.
EBITDA margin increased from 0.3% in 2005 to 0.8% in 2006.
Net loss per share at the end of fourth quarter 2006 was Ch$-6.30.
At the end of fourth quarter 2006, Unimarc had 41 stores in Chile, with a total sales area of 61,406 square meters.
UNIMARC is the fourth-largest food retailer in Chile and operated 41 supermarkets in Chile as of the end of 2006. The stores target middle to high- income level group. The Company offers a wide selection of both food and non- food items using "Unihome", Unimarc's new product line. Unimarc aims to offer customers the lowest price in the market and personalized attention.
For More Information Contact:
Patricio Bosselin, Investor Relations
Supermercados Unimarc S.A.
Tel: (56-2) 687-7010
E-mail:
