Quiñenco (QUINENCO) Q4 2025 earnings summary

Executive summary

• Net income reached US$750 million (Ch$680,368 million) in 2025, up 2.4% year-over-year, driven by strong operating company contributions and a significant corporate-level transaction gain, with improved results from Enex, SM SAAM, and Nexans, partially offset by lower results from CSAV, IRSA (CCU), and Banco de Chile.

• Maintained a diversified portfolio with dominant market positions and increased international presence.

• Distributed 100% of 2025 net income as dividends, totaling approximately US$750 million, with an interim dividend of US$100 million paid in December 2025.

Financial highlights

• Net income rose to US$750 million (Ch$680,368 million) in 2025, up from US$732 million in 2024 (2.4% year-over-year growth).

• NAV reached US$10.7 billion at year-end, with a 9.5% CAGR over 22 years; market capitalization was US$8.0 billion.

• Dividend yield was 14.8% in 2025, with a 25% holding discount at year-end.

• Corporate net debt improved to negative US$604 million, reflecting strong cash flow and asset disposals; at year-end, corporate net debt was Ch$1,579,010 million (adjusted for LQIF and IRSA stakes).

• Consolidated revenues for 2025 were Ch$5,550,037 million, up 2.9% from 2024, mainly due to higher revenues at Enex and SM SAAM.

Outlook and guidance

• Long-term investment strategy and value creation system remain unchanged, with a focus on operational efficiencies, portfolio optimization, and seeking new investment opportunities.

• Emphasis on maintaining a resilient, flexible portfolio and a conservative financial structure.