Announcement • Mar 09
SalfaCorp S.A., Annual General Meeting, Mar 27, 2026 SalfaCorp S.A., Annual General Meeting, Mar 27, 2026. Location: 5 335 presidente riesco avenue, 9th floor las condes commune, santiago Chile New Risk • Feb 05
New major risk - Financial position The company's debt is not well covered by operating cash flow. Operating cash flow to total debt ratio: 7.4% This is considered a major risk. If the company's operating cash flows are too small relative to the size of their debt, it increases their balance sheet risk. The company has less cash from operations to cover its expenses from servicing large debt and it increases the risk of liquidity issues. It also extends the time it would take for the company to pay back the debt in full, meaning it may not be able to easily pay it all off in a distress scenario. Currently, the following risks have been identified for the company: Major Risk Debt is not well covered by operating cash flow (7.4% operating cash flow to total debt). Minor Risk Share price has been volatile over the past 3 months (4.7% average weekly change). Reported Earnings • Feb 02
Full year 2025 earnings released: EPS: CL$92.04 (vs CL$78.25 in FY 2024) Full year 2025 results: EPS: CL$92.04 (up from CL$78.25 in FY 2024). Revenue: CL$1.03t (down 1.8% from FY 2024). Net income: CL$50.6b (up 18% from FY 2024). Profit margin: 4.9% (up from 4.1% in FY 2024). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 1% per year but the company’s share price has increased by 71% per year, which means it is tracking significantly ahead of earnings growth. New Risk • Nov 26
New major risk - Financial position The company's debt is not well covered by operating cash flow. Operating cash flow to total debt ratio: 3.6% This is considered a major risk. If the company's operating cash flows are too small relative to the size of their debt, it increases their balance sheet risk. The company has less cash from operations to cover its expenses from servicing large debt and it increases the risk of liquidity issues. It also extends the time it would take for the company to pay back the debt in full, meaning it may not be able to easily pay it all off in a distress scenario. Currently, the following risks have been identified for the company: Major Risk Debt is not well covered by operating cash flow (3.6% operating cash flow to total debt). Minor Risk Share price has been volatile over the past 3 months (4.2% average weekly change). Reported Earnings • Nov 17
Third quarter 2025 earnings released: EPS: CL$25.97 (vs CL$16.87 in 3Q 2024) Third quarter 2025 results: EPS: CL$25.97 (up from CL$16.87 in 3Q 2024). Revenue: CL$269.3b (up 15% from 3Q 2024). Net income: CL$14.3b (up 54% from 3Q 2024). Profit margin: 5.3% (up from 4.0% in 3Q 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 1% per year but the company’s share price has increased by 67% per year, which means it is tracking significantly ahead of earnings growth. New Risk • Sep 25
New major risk - Financial position The company's debt is not well covered by operating cash flow. Operating cash flow to total debt ratio: 10% This is considered a major risk. If the company's operating cash flows are too small relative to the size of their debt, it increases their balance sheet risk. The company has less cash from operations to cover its expenses from servicing large debt and it increases the risk of liquidity issues. It also extends the time it would take for the company to pay back the debt in full, meaning it may not be able to easily pay it all off in a distress scenario. This is currently the only risk that has been identified for the company. Reported Earnings • Aug 17
Second quarter 2025 earnings released: EPS: CL$26.16 (vs CL$23.11 in 2Q 2024) Second quarter 2025 results: EPS: CL$26.16 (up from CL$23.11 in 2Q 2024). Revenue: CL$268.4b (down 6.1% from 2Q 2024). Net income: CL$14.4b (up 13% from 2Q 2024). Profit margin: 5.4% (up from 4.4% in 2Q 2024). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 2% per year but the company’s share price has increased by 42% per year, which means it is tracking significantly ahead of earnings growth. New Risk • Jun 04
New major risk - Financial position The company's debt is not well covered by operating cash flow. Operating cash flow to total debt ratio: 11% This is considered a major risk. If the company's operating cash flows are too small relative to the size of their debt, it increases their balance sheet risk. The company has less cash from operations to cover its expenses from servicing large debt and it increases the risk of liquidity issues. It also extends the time it would take for the company to pay back the debt in full, meaning it may not be able to easily pay it all off in a distress scenario. Currently, the following risks have been identified for the company: Major Risk Debt is not well covered by operating cash flow (11% operating cash flow to total debt). Minor Risk Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Reported Earnings • May 19
First quarter 2025 earnings released: EPS: CL$19.04 (vs CL$21.12 in 1Q 2024) First quarter 2025 results: EPS: CL$19.04 (down from CL$21.12 in 1Q 2024). Revenue: CL$245.6b (down 7.6% from 1Q 2024). Net income: CL$10.5b (down 9.8% from 1Q 2024). Profit margin: 4.3% (down from 4.4% in 1Q 2024). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 5% per year but the company’s share price has increased by 41% per year, which means it is tracking significantly ahead of earnings growth. Upcoming Dividend • May 05
Upcoming dividend of CL$23.48 per share Eligible shareholders must have bought the stock before 12 May 2025. Payment date: 15 May 2025. Payout ratio is a comfortable 30% and this is well supported by cash flows. Trailing yield: 3.4%. Lower than top quartile of Chilean dividend payers (7.9%). In line with average of industry peers (3.6%). Declared Dividend • Apr 19
Dividend increased to CL$23.48 Dividend of CL$23.48 is 0.3% higher than last year. Ex-date: 12th May 2025 Payment date: 15th May 2025 Dividend yield will be 3.7%, which is lower than the industry average of 4.3%. Sustainability & Growth Dividend is well covered by both earnings (30% earnings payout ratio) and cash flows (37% cash payout ratio). The dividend has increased by an average of 3.4% per year over the past 10 years. However, payments have been volatile during that time. Earnings per share has grown by 8.7% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Announcement • Mar 28
SalfaCorp S.A., Annual General Meeting, Apr 15, 2025 SalfaCorp S.A., Annual General Meeting, Apr 15, 2025. Location: av presidente riesco n 5 335, piso 12 las condes, santiago Chile New Risk • Mar 12
New major risk - Financial position The company's debt is not well covered by operating cash flow. Operating cash flow to total debt ratio: 8.4% This is considered a major risk. If the company's operating cash flows are too small relative to the size of their debt, it increases their balance sheet risk. The company has less cash from operations to cover its expenses from servicing large debt and it increases the risk of liquidity issues. It also extends the time it would take for the company to pay back the debt in full, meaning it may not be able to easily pay it all off in a distress scenario. Currently, the following risks have been identified for the company: Major Risk Debt is not well covered by operating cash flow (8.4% operating cash flow to total debt). Minor Risk Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Reported Earnings • Mar 03
Full year 2024 earnings released: EPS: CL$78.25 (vs CL$77.96 in FY 2023) Full year 2024 results: EPS: CL$78.25 (up from CL$77.96 in FY 2023). Revenue: CL$1.05t (up 1.2% from FY 2023). Net income: CL$43.0b (flat on FY 2023). Profit margin: 4.1% (in line with FY 2023). Over the last 3 years on average, earnings per share has increased by 7% per year but the company’s share price has increased by 35% per year, which means it is tracking significantly ahead of earnings growth. Buy Or Sell Opportunity • Dec 28
Now 23% overvalued after recent price rise Over the last 90 days, the stock has risen 2.6% to CL$563. The fair value is estimated to be CL$458, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 18% over the last 3 years. Earnings per share has grown by 8.1%. New Risk • Nov 24
New major risk - Financial position The company's debt is not well covered by operating cash flow. Operating cash flow to total debt ratio: 11% This is considered a major risk. If the company's operating cash flows are too small relative to the size of their debt, it increases their balance sheet risk. The company has less cash from operations to cover its expenses from servicing large debt and it increases the risk of liquidity issues. It also extends the time it would take for the company to pay back the debt in full, meaning it may not be able to easily pay it all off in a distress scenario. Currently, the following risks have been identified for the company: Major Risk Debt is not well covered by operating cash flow (11% operating cash flow to total debt). Minor Risk Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Reported Earnings • Nov 17
Third quarter 2024 earnings released: EPS: CL$16.87 (vs CL$21.01 in 3Q 2023) Third quarter 2024 results: EPS: CL$16.87 (down from CL$21.01 in 3Q 2023). Revenue: CL$233.5b (down 12% from 3Q 2023). Net income: CL$9.27b (down 20% from 3Q 2023). Profit margin: 4.0% (down from 4.3% in 3Q 2023). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 8% per year but the company’s share price has increased by 21% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • Aug 16
Second quarter 2024 earnings released: EPS: CL$23.10 (vs CL$21.00 in 2Q 2023) Second quarter 2024 results: EPS: CL$23.10 (up from CL$21.00 in 2Q 2023). Revenue: CL$285.8b (up 11% from 2Q 2023). Net income: CL$12.7b (up 10.0% from 2Q 2023). Profit margin: 4.4% (down from 4.5% in 2Q 2023). The decrease in margin was driven by higher expenses. Revenue is expected to decline by 24% p.a. on average during the next 2 years, while revenues in the Global Construction industry are expected to grow by 7.8%. Over the last 3 years on average, earnings per share has increased by 11% per year whereas the company’s share price has increased by 16% per year. New Risk • Jun 04
New major risk - Financial position The company's debt is not well covered by operating cash flow. Operating cash flow to total debt ratio: 17% This is considered a major risk. If the company's operating cash flows are too small relative to the size of their debt, it increases their balance sheet risk. The company has less cash from operations to cover its expenses from servicing large debt and it increases the risk of liquidity issues. It also extends the time it would take for the company to pay back the debt in full, meaning it may not be able to easily pay it all off in a distress scenario. Currently, the following risks have been identified for the company: Major Risk Debt is not well covered by operating cash flow (17% operating cash flow to total debt). Minor Risk Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Reported Earnings • May 19
First quarter 2024 earnings released: EPS: CL$21.13 (vs CL$18.27 in 1Q 2023) First quarter 2024 results: EPS: CL$21.13 (up from CL$18.27 in 1Q 2023). Revenue: CL$265.8b (up 25% from 1Q 2023). Net income: CL$11.6b (up 16% from 1Q 2023). Profit margin: 4.4% (down from 4.7% in 1Q 2023). The decrease in margin was driven by higher expenses. Revenue is expected to decline by 20% p.a. on average during the next 2 years, while revenues in the Global Construction industry are expected to grow by 7.5%. Over the last 3 years on average, earnings per share has increased by 15% per year whereas the company’s share price has increased by 10% per year. Board Change • May 01
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 3 experienced directors. 4 highly experienced directors. Independent Director Vicente Vial was the last director to join the board, commencing their role in 2021. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Upcoming Dividend • Apr 29
Upcoming dividend of CL$23.40 per share Eligible shareholders must have bought the stock before 06 May 2024. Payment date: 10 May 2024. Payout ratio is a comfortable 24% and this is well supported by cash flows. Trailing yield: 3.6%. Lower than top quartile of Chilean dividend payers (12%). In line with average of industry peers (3.7%). New Risk • Feb 26
New major risk - Financial position The company's debt is not well covered by operating cash flow. Operating cash flow to total debt ratio: 17% This is considered a major risk. If the company's operating cash flows are too small relative to the size of their debt, it increases their balance sheet risk. The company has less cash from operations to cover its expenses from servicing large debt and it increases the risk of liquidity issues. It also extends the time it would take for the company to pay back the debt in full, meaning it may not be able to easily pay it all off in a distress scenario. Currently, the following risks have been identified for the company: Major Risk Debt is not well covered by operating cash flow (17% operating cash flow to total debt). Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Shareholders have been diluted in the past year (22% increase in shares outstanding). Reported Earnings • Feb 22
Full year 2023 earnings released: EPS: CL$77.96 (vs CL$79.21 in FY 2022) Full year 2023 results: EPS: CL$77.96. Revenue: CL$1.04t (up 25% from FY 2022). Net income: CL$42.9b (up 20% from FY 2022). Profit margin: 4.1% (down from 4.3% in FY 2022). The decrease in margin was driven by higher expenses. Revenue is expected to decline by 16% p.a. on average during the next 2 years, while revenues in the Global Construction industry are expected to grow by 8.0%. New Risk • Dec 09
New minor risk - Financial position The company has a high level of debt. Net debt to equity ratio: 83% This is considered a minor risk. Having a high level of debt increases the company's balance sheet risk. The company has a higher interest repayment burden, leading to the need to allocate a greater amount of its earnings towards servicing the debt, potentially limiting growth options or shareholder distributions. It can also increase the risk of bankruptcy if business conditions deteriorate enough that the company can no longer meet its debt obligations. Currently, the following risks have been identified for the company: Minor Risks High level of debt (83% net debt to equity). Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Shareholders have been diluted in the past year (22% increase in shares outstanding). Price Target Changed • Nov 24
Price target increased by 18% to CL$490 Up from CL$415, the current price target is an average from 2 analysts. New target price is 19% above last closing price of CL$411. Stock is up 71% over the past year. The company posted earnings per share of CL$79.21 last year. Reported Earnings • Nov 22
Third quarter 2023 earnings released: EPS: CL$21.01 (vs CL$24.38 in 3Q 2022) Third quarter 2023 results: EPS: CL$21.01. Revenue: CL$265.6b (up 27% from 3Q 2022). Net income: CL$11.6b (up 5.4% from 3Q 2022). Profit margin: 4.3% (down from 5.3% in 3Q 2022). The decrease in margin was driven by higher expenses. Revenue is expected to decline by 12% p.a. on average during the next 3 years, while revenues in the Global Construction industry are expected to grow by 8.0%. Valuation Update With 7 Day Price Move • Nov 08
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to CL$417, the stock trades at a trailing P/E ratio of 5.5x. Average forward P/E is 12x in the Construction industry in Chile. Total returns to shareholders of 22% over the past three years. Reported Earnings • Aug 18
Second quarter 2023 earnings released: EPS: CL$21.00 (vs CL$20.85 in 2Q 2022) Second quarter 2023 results: EPS: CL$21.00 (up from CL$20.85 in 2Q 2022). Revenue: CL$257.2b (up 32% from 2Q 2022). Net income: CL$11.5b (up 23% from 2Q 2022). Profit margin: 4.5% (down from 4.8% in 2Q 2022). The decrease in margin was driven by higher expenses. Revenue is expected to decline by 8.2% p.a. on average during the next 3 years, while revenues in the Global Construction industry are expected to grow by 8.0%. Over the last 3 years on average, earnings per share has increased by 28% per year but the company’s share price has remained flat, which means it is significantly lagging earnings. Price Target Changed • Aug 02
Price target increased by 15% to CL$415 Up from CL$360, the current price target is an average from 2 analysts. New target price is 9.8% below last closing price of CL$460. Stock is up 85% over the past year. The company posted earnings per share of CL$79.21 last year. New Risk • Jul 26
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 24% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risk Debt is not well covered by operating cash flow (17% operating cash flow to total debt). Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (4.5% average weekly change). Shareholders have been diluted in the past year (24% increase in shares outstanding). New Risk • Jun 23
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Chilean stocks, typically moving 4.4% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Debt is not well covered by operating cash flow (17% operating cash flow to total debt). Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (4.4% average weekly change). Upcoming Dividend • May 01
Upcoming dividend of CL$19.45 per share at 5.9% yield Eligible shareholders must have bought the stock before 08 May 2023. Payment date: 11 May 2023. Payout ratio is a comfortable 25% and this is well supported by cash flows. Trailing yield: 5.9%. Lower than top quartile of Chilean dividend payers (14%). In line with average of industry peers (5.7%). Reported Earnings • Mar 17
Full year 2022 earnings released: EPS: CL$79.21 (vs CL$68.49 in FY 2021) Full year 2022 results: EPS: CL$79.21 (up from CL$68.49 in FY 2021). Revenue: CL$829.4b (up 16% from FY 2021). Net income: CL$35.6b (up 16% from FY 2021). Profit margin: 4.3% (in line with FY 2021). Revenue is expected to decline by 10% p.a. on average during the next 2 years, while revenues in the Global Construction industry are expected to grow by 8.0%. Over the last 3 years on average, earnings per share has increased by 22% per year but the company’s share price has only increased by 9% per year, which means it is significantly lagging earnings growth. Price Target Changed • Nov 16
Price target decreased to CL$360 Down from CL$440, the current price target is an average from 2 analysts. New target price is 43% above last closing price of CL$252. Stock is down 18% over the past year. The company posted earnings per share of CL$68.49 last year. Valuation Update With 7 Day Price Move • Nov 03
Investor sentiment deteriorated over the past week After last week's 16% share price decline to CL$240, the stock trades at a trailing P/E ratio of 3.7x. Average forward P/E is 11x in the Construction industry in Chile. Total loss to shareholders of 49% over the past three years. Valuation Update With 7 Day Price Move • Aug 31
Investor sentiment improved over the past week After last week's 15% share price gain to CL$319, the stock trades at a trailing P/E ratio of 4.9x. Average forward P/E is 11x in the Construction industry in Chile. Total loss to shareholders of 41% over the past three years. Reported Earnings • Aug 18
Second quarter 2022 earnings released: EPS: CL$20.84 (vs CL$15.89 in 2Q 2021) Second quarter 2022 results: EPS: CL$20.84 (up from CL$15.89 in 2Q 2021). Revenue: CL$195.0b (up 16% from 2Q 2021). Net income: CL$9.38b (up 31% from 2Q 2021). Profit margin: 4.8% (up from 4.2% in 2Q 2021). The increase in margin was driven by higher revenue. Over the next year, revenue is expected to shrink by 5.2% compared to a 12% growth forecast for the Construction industry in Chile. Over the last 3 years on average, earnings per share has increased by 8% per year but the company’s share price has fallen by 25% per year, which means it is significantly lagging earnings. Upcoming Dividend • Apr 27
Upcoming dividend of CL$20.55 per share Eligible shareholders must have bought the stock before 02 May 2022. Payment date: 06 May 2022. Payout ratio is a comfortable 13% and this is well supported by cash flows. Trailing yield: 3.4%. Lower than top quartile of Chilean dividend payers (9.7%). Lower than average of industry peers (3.9%). Reported Earnings • Mar 02
Full year 2021 earnings: EPS in line with analyst expectations despite revenue beat Full year 2021 results: EPS: CL$68.49 (up from CL$30.56 in FY 2020). Revenue: CL$712.8b (up 78% from FY 2020). Net income: CL$30.8b (up 124% from FY 2020). Profit margin: 4.3% (up from 3.4% in FY 2020). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 3.4%. Over the next year, revenue is forecast to grow 4.0%, compared to a 13% growth forecast for the industry in Chile. Over the last 3 years on average, earnings per share has remained flat but the company’s share price has fallen by 35% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • Nov 24
Investor sentiment improved over the past week After last week's 20% share price gain to CL$364, the stock trades at a trailing P/E ratio of 5.4x. Average forward P/E is 12x in the Construction industry in Chile. Total loss to shareholders of 59% over the past three years. Reported Earnings • Nov 20
Third quarter 2021 earnings released: EPS CL$16.18 (vs CL$5.77 in 3Q 2020) The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: CL$187.0b (up 130% from 3Q 2020). Net income: CL$7.28b (up 180% from 3Q 2020). Profit margin: 3.9% (up from 3.2% in 3Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 4% per year but the company’s share price has fallen by 31% per year, which means it is performing significantly worse than earnings. Valuation Update With 7 Day Price Move • Nov 08
Investor sentiment improved over the past week After last week's 15% share price gain to CL$317, the stock trades at a trailing P/E ratio of 5.6x. Average forward P/E is 12x in the Construction industry in Chile. Total loss to shareholders of 64% over the past three years. Reported Earnings • Aug 26
Second quarter 2021 earnings released: EPS CL$15.89 (vs CL$5.38 in 2Q 2020) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: CL$168.6b (up 98% from 2Q 2020). Net income: CL$7.15b (up 195% from 2Q 2020). Profit margin: 4.2% (up from 2.8% in 2Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 9% per year but the company’s share price has fallen by 29% per year, which means it is performing significantly worse than earnings. Valuation Update With 7 Day Price Move • May 22
Investor sentiment deteriorated over the past week After last week's 19% share price decline to CL$405, the stock trades at a trailing P/E ratio of 13.3x. Average trailing P/E is 19x in the Construction industry in Chile. Total loss to shareholders of 62% over the past three years. Upcoming Dividend • Apr 23
Upcoming dividend of CL$9.17 per share Eligible shareholders must have bought the stock before 30 April 2021. Payment date: 06 May 2021. Trailing yield: 2.6%. Lower than top quartile of Chilean dividend payers (5.8%). In line with average of industry peers (2.6%). Is New 90 Day High Low • Feb 25
New 90-day high: CL$545 The company is up 31% from its price of CL$417 on 26 November 2020. The Chilean market is up 9.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Construction industry, which is up 17% over the same period. Reported Earnings • Feb 20
Full year 2020 earnings released: EPS CL$30.56 (vs CL$51.66 in FY 2019) The company reported a soft full year result with weaker earnings and revenues, although profit margins were improved. Full year 2020 results: Revenue: CL$400.2b (down 47% from FY 2019). Net income: CL$13.7b (down 41% from FY 2019). Profit margin: 3.4% (up from 3.1% in FY 2019). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 12% per year but the company’s share price has fallen by 24% per year, which means it is performing significantly worse than earnings. Is New 90 Day High Low • Jan 07
New 90-day high: CL$432 The company is up 3.0% from its price of CL$418 on 09 October 2020. The Chilean market is up 13% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Construction industry, which is down 4.0% over the same period. Reported Earnings • Nov 20
Third quarter 2020 earnings released: EPS CL$5.77 The company reported a soft third quarter result with weaker earnings and revenues, although profit margins were improved. Third quarter 2020 results: Revenue: CL$81.4b (down 50% from 3Q 2019). Net income: CL$2.60b (down 41% from 3Q 2019). Profit margin: 3.2% (up from 2.7% in 3Q 2019). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 9% per year but the company’s share price has fallen by 22% per year, which means it is performing significantly worse than earnings. Is New 90 Day High Low • Oct 23
New 90-day low: CL$396 The company is down 16% from its price of CL$471 on 24 July 2020. The Chilean market is down 7.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Construction industry, which is down 10.0% over the same period. Is New 90 Day High Low • Sep 24
New 90-day low: CL$400 The company is down 9.0% from its price of CL$438 on 26 June 2020. The Chilean market is also down 9.0% over the last 90 days, indicating the company’s price trend is similar to the market over that time. However, it underperformed the Construction industry, which is down 4.0% over the same period.