Inversiones La Construcción (ILC) Q4 2024 earnings summary

Executive summary

• FY24 net profit was Ch$148,244 million after the Ch$32,370 million Consalud Short Law liability; excluding it, profit was Ch$180,614 million, down 1.1% YoY.

• Stronger financial-sector and insurance results and RedSalud growth partly offset weaker Consalud performance and the Short Law impact.

Financial highlights

• 4Q24 profit was Ch$37,308 million versus Ch$57,694 million in 4Q23; quarterly operating income fell 30.9% YoY.

• Consolidated ROAE was 14.0% versus 19.6% in 2023; standalone net financial debt/equity was 0.35x versus 0.32x.

• Market capitalization rose 52.8% YoY to Ch$766,966 million at Dec. 2024.

Segment performance

• Banco Internacional profit was Ch$50,503 million, down 8.9% YoY; loans grew 16.1%, with consumer loans up 61.9%.

• Confuturo profit rose 23.2% to Ch$86,329 million; real-term premiums increased 6.2% and market share reached 14.8%.

• AFP Habitat profit increased 6.5% to Ch$140,146 million; AAISA profit rose 20% to Ch$37.4bn.

• RedSalud revenue grew 10.6% to Ch$739,259 million; EBITDA rose to Ch$86,974 million and margin increased to 11.8%.

• Consalud recorded a Ch$49,488 million loss, or Ch$17,118 million excluding the Short Law liability; Vida Cámara profit rose to Ch$5,676 million.