During the Second Quarter of 2008: Profits of D&S Increased 28.8%
13 August 2008 - 7:41AM
PR Newswire (US)
- Profits of $16.793 million are mainly due to the 56.1% increase
of operating results, in comparison to the same period in 2007.
Furthermore, the company's EBITDA had a 10.7% increase in
comparison with the second quarter of the previous year. SANTIAGO,
Chile, Aug. 12 /PRNewswire-FirstCall/ -- D&S (NYSE:DYS), the
largest supermarket chain in Chile obtained net income of $16,793
million (US$31.9 million) during the second quarter of 2008, which
means a 28.8% expansion in comparison with the same period in 2007.
This increase is due to the 3.1% increase of revenues during this
period in comparison with the previous year, amounting to $493,264
million (US$937.7 million), and an improvement in operating
results, which increased by 56.1%, amounting to $35,993 million
(US$68.4 million). "This increase of revenues is due mainly to the
net increase of 28,659 square meters of the sales floor as a result
of opening seven LIDER stores and three SuperBodega ACuenta between
June 2007 and the same month of this year," explained the CFO,
Alejandro Droste. These new supermarkets represent a 6.0% increase
over the total sales room and correspond to the opening of five
Express stores of LIDER, two HIPER LIDER and three of the new
format SuperBodega ACuenta, which is focused on lower income
market. Furthermore, seven Ekono stores, which is the discount
format of D&S, opened during the second quarter of 2008. The
executive also added, "The improvement in operating results and
EBITDA were mainly due to the expansion of the gross margin, in
addition to greater efficiency in operating expenses, as well as to
the reduction in the depreciation expenditures, as a result of the
change of estimation in the economical lifespan of the company's
structural work." The revenues from financial services of D&S
had a 2.7% increase compared to the same period of the previous
year, amounting to $29,903 million (US$56.8 million). Furthermore,
the real estate division of D&S, Saitec, had an increase of
income of 24.1%, amounting to $7,421 million (US$14.1 million)
compared to the second quarter of 2007. The EBITDA of the company
increased 10.7%, while obtaining $42.469 million (US$80.7 million)
in comparison with the April - June quarter of 2007, an amount that
represents 8.6% of sales income. On the other hand, during the
period January - June of this year, net revenues increased by 4.3%
compared to the first half of 2007. This figure is mainly due to
the nominal growth of 12.9% of total sales, as a result of the 6.3%
increase in same store sales. The net profit amounted to $28,141
million, a 21.3% increase compared to the first half of the
previous year. II Quarter Consolidated Results 2008 Ch$ millions
US$ millions % of Rev. Sales 403,462 767.0 81.8% Other Income
89,803 170.7 18.2% Net revenues 493,264 937.7 100.0% Cost of sales
350,458 666.2 71.0% Gross Income / Margin 142,807 271.5 29.0%
Recurring Operating Expenses 100,275 190.6 20.3% Start-up Expenses
63 0.1 0.0% Total Operating Expenses (SG&A) 100,338 190.7 20.3%
EBITDA 42,469 80.7 8.6% Depreciation 6,477 12.3 1.3% Total
Operating Expenses 106,814 203.0 21.7% Operating Income 35,993 68.4
7.3% Financial Expenses (5,576) (10.6) -1.1% Other Non-operating
Income (Expenses) (2,484) (4.7) -0.5% Monetary Correction (7,225)
(13.7) -1.5% Non-Operating Income (15,286) (29.1) -3.1% Income
before Tax 20,707 39.4 4.2% Income Tax (3,914) (7.4) -0.8% Minority
Interest 1 0.0 0.0% Income 16,793 31.9 3.4% Amortization of
Goodwill - 0.0 0.0% Net Income 16,793 31.9 3.4% Currency of Jun
2008, exchange rate US$=Ch$526.05 of Jun 30, 2008 2007 Ch$ US$ Var.
millions millions % of Rev. % Sales 394,090 749.1 82.4% 2.4% Other
Income 84,292 160.2 17.6% 6.5% Net revenues 478,382 909.4 100.0%
3.1% Cost of sales 340,930 648.1 71.3% 2.8% Gross Income / Margin
137,452 261.3 28.7% 3.9% Recurring Operating Expenses 98,915 188.0
20.7% 1.4% Start-up Expenses 172 0.3 0.0% -63.7% Total Operating
Expenses (SG&A) 99,087 188.4 20.7% 1.3% EBITDA 38,365 72.9 8.0%
10.7% Depreciation 15,312 29.1 3.2% -57.7% Total Operating Expenses
114,399 217.5 23.9% -6.6% Operating Income 23,053 43.8 4.8% 56.1%
Financial Expenses (6,803) (12.9) -1.4% -18.0% Other Non-operating
Income (Expenses) (223) (0.4) 0.0% 1016.0% Monetary Correction
(156) (0.3) 0.0% 4531.2% Non-Operating Income (7,182) (13.7) -1.5%
112.8% Income before Tax 15,872 30.2 3.3% 30.5% Income Tax (2,832)
(5.4) -0.6% 38.2% Minority Interest (4) (0.0) 0.0% -112.7% Income
13,035 24.8 2.7% 28.8% Amortization of Goodwill - 0.0 0.0% Net
Income 13,035 24.8 2.7% 28.8% Currency of June 2008, exchange rate
US$=Ch$526.05 as of Jun 30, 2008 For further information please
contact: Virginia Spencer: Gonzalo Valenzuela: Telephone: (056 2)
437-7700 Extend Comunicaciones DATASOURCE: Distribucion y Servicio
D&S S.A. CONTACT: Virginia Spencer, , or Gonzalo Valenzuela, ,
both of Extend Comunicaciones, +011-56-2-437-7700, for D&S Web
site: http://www.dys.cl/
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