Quiñenco (QUINENCO) Q2 2025 earnings summary

Executive summary

• Net income for 2Q 2025 reached Ch$131,254 million, up 11.5% year-over-year, driven by Nexans' strong results, improved performance at SM SAAM and Enex, and favorable corporate-level results, partially offset by lower contributions from CSAV, CCU, and Banco de Chile.

• Earnings per share were Ch$78.94 for the quarter.

• Dividend distribution for 2024 net income totaled Ch$600 billion, representing 90.3% payout.

Financial highlights

• Consolidated revenues in the industrial sector were Ch$1,336,753 million, down 1.2% year-over-year, mainly due to lower revenues at Enex, partially offset by higher revenues at SM SAAM.

• Operating income in the industrial sector rose to Ch$21,028 million, nearly doubling from Ch$10,828 million in 2Q 2024, reflecting growth at Enex and SM SAAM.

• EBITDA for the industrial sector was Ch$65,876 million, up 22.5% year-over-year.

• Non-operating income increased 20.7% to Ch$178,179 million, mainly due to higher foreign exchange gains.

• Income tax expense in the industrial sector rose 28.0% to Ch$145,168 million, primarily due to higher taxes at CSAV.

Outlook and guidance

• Nexans continues to focus on electrification, with recent divestments and acquisitions aligning with this strategy.

• The company expects continued growth in key segments, with ongoing portfolio optimization and capital allocation to strategic areas.