Chilean Economic News

Net profits for USD $ 30.5 millions obtained Sonda during the first quarter of the current year, growing 17.4% compared with the same period of the last year, acording to the information presented by the company to the chilean Securities and Insurance Supervisor Organism - SVS. In the same period, the company obtained USD $ 334.4 milliones in consolidated revenues, which means a positive growth of 2.5% y/y.   In the case of the Operational Result, Sonda reached USD $42.8 millions increasing 6.8% from the results on the period ended on march, 2012.  The EBIDTA raised 3.2%, totalizing USD $57.6 millions.  Considering the main ratios of the company, the Return on Equity (ROE)  was 13.7% and the Return on Assets (ROA) was 8.0%. Following the analysis presented by the company, the o perations outside of Chile recorded a rise of 6.0 % in terms of revenue s, reaching  USD $ 185.0 millions , which represents  55.3% of  the consolidated...

Latin American and Caribbean countries will grow by 3.5% in 2013, thanks to buoyant internal demand and the improved performance of Argentina and Brazil compared with 2012, according to the new projections presented today by ECLAC ("Economic Commission for Latin America and the Caribbean") on it's " Updated economic overview of Latin America and the Caribbean 2012 ". About Chile , the same document projects a result of 5% in the Gross Domestic Product , increasing from the 4.8% estimated on the previous analysis.   ECLAC informed that the 2013 results are partly due to the expectations of higher growth in Argentina (3.5%) and Brazil (3.0%), thanks to the upturn in agricultural activity and investment (which fell in those countries in 2012). The regional expansion is also backed by ongoing growth in consumption in the wake of improved labour indicators and rising bank credit to the private sector (and, to a lesser extent, investment). This has...

After a shareholders' meeting, Coca Cola Embonor's general manager, Cristian Holdberg, inform that the company will invest USD$105 millions during 2013 to increase it's production capacity and to strenght the bottling structure and market presence of the company. Embonor,  Chile's second-largest Coca-Cola bottler,  aims to invest $300 million in plant upgrades in the next two years, acording to a statement published in it's own website. Andrés Vicuña, president of Embonor, said " i n the last seven years , the company has achieved sustained growth rates in volume of approximately 9 % per annum, which implies that the scale of the company has doubled between 2005 and 2012 , creating greater value for our shareholders. For this reason, we require to increase our capacity with modern technology ". Last year, the company obtained a profit of CLP $ 37,808 millions and an EBIDTA of CLP $ 67,707 millions, which represents a 16.9 pe...

Viña Concha y Toro S.A. informed today its preliminary sales for the first quarter 2013. Consolidated sales totaled CLP $ 88,416 million, showing a 2.2 percent increase as compared to the same quarter last year. Related to this, it is important to consider that export market volumes were affected by the port strike in Chile during March; where around 1,485 thousand liters couldn’t be shipped, acording to the same company.  For this quarter, sales of export markets in Chilean Pesos, increased 3.8 percent; sales of wine in the domestic market dropped by 5.8 percent; Domestic market – New Business increased 2.1 percent. In the case of Argentina, Domestic Sales reached CLP$1.047, decreasing 30.9 percent from the CLP $1.516 registered in the same period of the last year. This result was affected by the fall of 37.6% in the sales volume, which represents only CLP $775 compared with the CLP $1.241 of the first quarter of 2012.  Finally, USA (Fetzer) Domestic sales rose t...

4.9 percent will grow the chilean economy in 2012, acording to the World Economic Outlook report, published by the International Monetary Fund (IMF) analyzing global and regional situations.  In the same report, the organism projects a 4.6 percent in 2014 in the same indicator for our country, giving a positive perspective in the evolution of this macroeconomic indicator for the next two years.   Considering the numbers for all the region, the document says that Real GDP growth in the Latin America and Caribbean region declined to 3 percent in 2012, from 4.5 percent in 2011, reflecting a slowdown in external demand and, in some cases, the impact of domestic factors. The deceleration was particularly pronounced in Brazil, the region’s largest economy, where large policy stimulus failed to spur private investment.  However, real GDP growth in the zone is projected to increase to 3.4 percent in 2013. In the case of Chile, IMF expects a results of 2.1 percent in the C...

Copper price fell 5.19% today, closing at US$ 3.2298 per pound in the London Metal Stock Exchange (LSE), acording to the information released by Cochilco (Comisión Chilena del Cobre). Last friday, the red metal closed at US$3.4064 per pound and today reached the biggest fall since october 21th, 2011. In the same market, the futures prices of the copper reached US$ 3.24568 per pound. With this variations, the monthly average price at the date is US$ 3.36489 per pound and the year average price is US$3.56533 per pound.

GeoPark Holdings Limited ("GeoPark") announced yesterdary it's results for the year ended 31 december 2012, registering it's seventh consecutive year of overall growth. Acording to the corporate action presented to the SVS, during last year the company continued to execute it's business plan and grow it's key performance measures of oil and gas production, revenues, EBITDA and net income. James F. Park, CEO of GeoPark, commented: " Our 2012 results represent a significant performance step-up and reflect the growing strength of our underlying asset foundation andrecord of execution. In 2012, GeoPark demonstrated improvements in each of its three principalcapacities as an oil and gas explorer, operator and consolidator--with increases in production,reserves, and cash flows and new project growth in Colombia and Tierra del Fuego. Our team's ability to consistently find and produce oil and gas, our strengthening balance sheet and reliable cash flow g...

In it's monthly monetary policy meeting, the Board of the Central Bank of Chile decided to maintain the monetary policy interest rate at 5% (annual). Acording the press release released by the organism, international financial conditions are stable. Incoming economic indicators for the United States are mixed, while the Eurozone remains in recession and in a fragile fiscal and financial situation. The Bank of Japan recently announced a substantial quantitative easing program, which has translated into a depreciation of the yen. The prices of commodities receded in recent weeks, especially for copper. About the chilean economy, the Central Bank explains that february’s activity indicator was below market expectations. The labor market is still tight and domestic demand remains dynamic. Credit conditions are somewhat more restrictive. Headline and core inflation measures are around 1% and 2% y-o-y, while inflationary expectations in the policy horizon remain around the target....

Un 546% creció el resultado bruto de Schwager Energy en el período culminado el 31 de diciembre de 2012, de acuerdo a la información presentada por la empresa a la Superintendencia de Valores y Seguros (SVS).  En ese lapso, la compañía obtuvo M$1,429,156 frente a los M$220,988 a la misma fecha del año anterior.   De acuerdo al análisis razonado de sus estados financieros, este resultado se debe principalmente a una mayor venta correspondiente al segmento de negocios Servicio a la Minería (38.69% sobre el total de los ingresos) con una facturación de M$2,522,225, ítem que el año 2011 presentaba facturación por M$137,603.  Respecto a sus indicadores financieros, el índice de liquidez de la empresa fue de 1.57 veces, mientras que el test ácido alcanzó 1.55%.  En cuanto al ROE (resultado del ejercicio/patrimonio), obtuvo un -0.58%.  El activo fijo del período alcanzó a M$3,978,706 y el total activo fue de M$ 18,120,946. En el mismo documento, la co...

La generación eléctrica alcanzó 4,343 GWh en marzo, mostrando un avance de 2.3% a/a. En este sentido, el aporte hidroeléctrico en el mes representó sólo un 30.3% (-5.4 pp m/m y -9.4 pp a/a), mientras que la generación térmica alcanzó un 68.8% del mix, de acuerdo a información proporcionada por el CDEC-SIC. En tanto, los costos marginales (CMg) en el SIC promediaron US$172 por MWh en marzo (basado en la información disponible hasta el día 25 del mismo mes), subiendo 33.1% m/m pero cayendo 25.1% a/a. Por otro lado, según los datos de operación del CDEC-SING, la generación en el Norte Grande alcanzó 1,461 GWh durante marzo (+2.5% a/a). Dentro de esa cifra, el carbón aportó con un 82.6%, el gas natural un 12.5% y el diesel un 3.9%. Por su parte, los CMg promediaron US$65 por MWh durante el mes.

La balanza comercial de Chile anotó un superávit de US$ 1,134 millones en marzo, por un mejor desempeño de sus principales envíos y un menor dinamismo de sus importaciones, según cifras publicadas este lunes por el Banco Central.  Las exportaciones alcanzaron a US$ 6,882 millones en el tercer mes del 2013, mientras que las importaciones llegaron a US$ 5,748 millones. Con ello, en el primer trimestre la balanza comercial acumuló un superávit comercial de US$ 1.446 millones. Respecto al cobre, los envíos de este producto alcanzaron los US$ 3,381 millones durante el mismo período.

Un 0.8% a nivel consolidado retrocedieron los volumenes de Embotelladora Andina durante el primer trimestre del año en curso, de acuerdo a la información preliminar entregada por la empresa. Esta caída estuvo afectada principalmente por el segmento de bebidas gaseosas , el cual mostró una contracción de -2.7% a/a en el resultado de la región. Tomando en cuenta las cifras de los países en que Embotelladora Andina opera en la región, el principal descenso se registró en las ventas en Chile, con una baja de -8.8% frente al mismo período del año pasado.  De acuerdo a un análisis realizado por Banchile Inversiones, esto sería consecuencia de condiciones climáticas no favorables, mayor competencia de parte de actores locales y potenciales dificultades en el proceso de integración. En el resto de los mercados, la empresa obtuvo números adversos también en Paraguay, donde se produjo una caída de -5.5%, y Brasil, con -1.3% en su resultado preliminar.  Por su parte, en Argent...

Un llamado a realizar un paro nacional de faenas de advertencia en todas las Divisiones y Casa Matriz de Codelco Chile y en la gran minería privada, realizaron el día de hoy la Federación de Trabajadores del Cobre (FTC) y la Federación Minera de Chile , representadas por Gustavo Tapia, presidente de la Federación Minera de Chile y Raimundo Espinoza , presidente de la FTC. El paro se realizará mañana martes 9 de abril a contar de las siete de la mañana y participarían más de 25.000 trabajadores del cobre. La medida afectará a todas las divisiones de Codelco incluida la casa matriz, además de diversos sindicatos de mineras privadas agrupados en la Federación Minera de Chile. Según indicó Tapia, esta movilización" apunta a paralizar el 100% de la producción de cobre del país ". Los representantes de cada organismo destacaron la trascendencia histórica de la movilización, ya que por primera vez, ambas organizaciones de la minería estatal y privada, realizan en conjunto un...

The dollar is still maintaining it's trend to going down, closing today at CLP $467.20, CLP $ 1.9 down from the price reached last Friday. This is the lowest price since last year, when in september, 8th reached a price of CLP $ 462.80.

The Consumer Price Index ( CPI) recorded a monthly rise of 0.4 %, accumulating 0.7% this year and 1.5 % in twelve months, according to figures released today by the chilean National Statistics Institute ( INE ). According to the newsletter delivered by this institution , eight of the twelve divisions that make up the CPI basket registered increases in their rates during March and four negative variation were recorded in the same period. Among the divisions with increases are Education (4.3% ), and food and non-alcoholic beverages (0.7 %), with incidences of 0.279 percentage points (pp. ) and 0.143 pp ., respectively . In the case of the lower divisions , appears Transport (-0.3 %), with an incidence of -0.064 pp . To see the official information released by the INE, click here  

USD$ 400 million will pay ENTEL to acquire Nextel Peru's operations from the  hands of NII Holdings. With this transaction , the Chilean telecommunications company can position itself as a telecommunications operator in the neighboring country, where it participates in markets such as data transmission , fixed services , IT and call center .   The closing of the agreement is subject to satisfaction of certain conditions by Nextel Peru , which should occur before the end of this year. The acquired company is the third largest mobile operator in the neighboring country , where it operates since 1988 positioning itself in the segment of corporate and individual customers . The transaction is being entered into as part of NII's announced strategy to focus its capital and other resources in Mexico and Brazil , its two largest markets.  The proceeds received from this sale will provide additional liquidity as the Company conti...

To 167% grew Farmacias Ahumada 's profits in the period ended December 31, 2012 . According to the information sent by the company to the SVS , the consolidated result achieved a profit of $ 23,429,466 , compared to $ 8,772,793 earned in 2011 . According to the company, the higher result compared to the same period last year was mainly due to higher non-operating result by $ 20,978,867 . Accumulated EBITDA ( operating income plus depreciation and amortization ) to December 2012 reached $ 35,994,591 ( 4.7% of sales) against EBITDA of $ 35,414,126 ( 4.8% of sales) over the same period of the previous year PRICE ADJUSTMENT On April 2 , according to a statement from Farmacias Ahumada, the same company agreed with the Group Mexatar and Grupo Casa Saba to adjust the purchase price for the social rights of Casa Saba Brasil Holdings to the tune of   USD $ 30 million .   International Investment Inverfar , FASA subsidiary ...

This Friday, the National Automobile Association ( ANAC) released a report indicating that light vehicle sales in March rose 9 % over the same month last year . This means that during the third month of 2013 were sold 28,577 units, which contributed to the first half closed with a growth of 17 %. Given these figures , ANAC stated that sales in the first half of last year were affected by the expectations arising from problems in the Euro zone , thereby weakening the stock management of associates , as well as demand. Despite this result , the agency said that " " we can not conclude a turnaround on the projections of 350,000 units for this year . " About the trucks, the paper details the sales of buses are down -2% compared to March 2012. Meanwhile , the truck market also has a low of -37 %, which is explained by the anticipation of shopping to be had in the early months of the change in product standards....