Quiñenco (QUINENCO) investor relations material

Executive summary

• Net income attributable to controlling shareholders was $331,352 million, down 1.7% year-over-year, mainly due to lower contribution from CSAV, offset by non-recurring gains from the sale and reclassification of Nexans shares.

• Consolidated net income was $788,618 million, 8.5% lower than the previous year, reflecting weaker non-banking results, partially offset by improved banking results.

• The sale of 2.2 million Nexans shares generated a non-recurring after-tax gain of $77,352 million, and the reclassification of the remaining stake as a financial asset added $68,122 million.

Financial highlights

• Consolidated revenues rose 15.8% year-over-year to $3,141,567 million, driven by higher sales at Enex and SM SAAM.

• EBITDA reached $1,090,508 million, up from $993,977 million a year earlier.

• Net income from banking services increased 4.2% to $662,003 million, with Banco de Chile reporting a 4.0% rise in net profit to $659,195 million.

• Non-banking net income fell 44.1% to $126,615 million, mainly due to a loss at CSAV, reflecting Hapag-Lloyd's negative result.

• Enex posted a 218.2% increase in net income to $77,671 million, while SM SAAM's net income dropped 11.8% to $33,759 million.

• CSAV reported a net loss of $118,063 million, compared to a gain of $125,382 million in the prior year.

Outlook and guidance

• The company expects continued volatility in global shipping and energy markets, with ongoing risks from geopolitical tensions and inflation.

• The recently approved tax reform in Chile, which will gradually reduce the corporate tax rate, is not yet reflected in the financials.