New Risk • Jun 08
New minor risk - Financial position The company has a high level of debt. Net debt to equity ratio: 152% 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: Major Risk Earnings have declined by 52% per year over the past 5 years. Minor Risk High level of debt (152% net debt to equity). Reported Earnings • May 28
First quarter 2026 earnings released: CL$5.21 loss per share (vs CL$6.61 loss in 1Q 2025) First quarter 2026 results: CL$5.21 loss per share (improved from CL$6.61 loss in 1Q 2025). Revenue: CL$54.3b (flat on 1Q 2025). Net loss: CL$6.37b (loss narrowed 21% from 1Q 2025). Over the last 3 years on average, earnings per share has increased by 19% per year but the company’s share price has only increased by 4% per year, which means it is significantly lagging earnings growth. Announcement • Mar 30
Socovesa S.A., Annual General Meeting, Apr 29, 2026 Socovesa S.A., Annual General Meeting, Apr 29, 2026. Location: eliodoro yanez 2962, comuna de providencia, santiago Chile New Risk • Mar 16
New minor risk - Financial position The company has a high level of debt. Net debt to equity ratio: 156% 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: Major Risk Earnings have declined by 53% per year over the past 5 years. Minor Risks High level of debt (156% net debt to equity). Share price has been volatile over the past 3 months (4.8% average weekly change). Reported Earnings • Mar 12
Full year 2025 earnings released: CL$7.34 loss per share (vs CL$16.19 loss in FY 2024) Full year 2025 results: CL$7.34 loss per share (improved from CL$16.19 loss in FY 2024). Revenue: CL$302.9b (down 19% from FY 2024). Net loss: CL$8.98b (loss narrowed 55% from FY 2024). Over the last 3 years on average, earnings per share has fallen by 8% per year but the company’s share price has increased by 4% per year, which means it is well ahead of earnings. New Risk • Dec 04
New minor risk - Financial position The company has a high level of debt. Net debt to equity ratio: 164% 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: Major Risks Share price has been highly volatile over the past 3 months (7.6% average weekly change). Earnings have declined by 56% per year over the past 5 years. Minor Risk High level of debt (164% net debt to equity). Reported Earnings • Dec 01
Third quarter 2025 earnings released: CL$1.54 loss per share (vs CL$4.79 loss in 3Q 2024) Third quarter 2025 results: CL$1.54 loss per share (improved from CL$4.79 loss in 3Q 2024). Revenue: CL$86.8b (up 1.0% from 3Q 2024). Net loss: CL$1.89b (loss narrowed 68% from 3Q 2024). Over the last 3 years on average, earnings per share has fallen by 42% per year but the company’s share price has increased by 17% per year, which means it is well ahead of earnings. New Risk • Sep 16
New minor risk - Financial position The company has a high level of debt. Net debt to equity ratio: 158% 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: Major Risks Share price has been highly volatile over the past 3 months (5.8% average weekly change). Earnings have declined by 57% per year over the past 5 years. Minor Risk High level of debt (158% net debt to equity). New Risk • Sep 05
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Chilean stocks, typically moving 4.8% a week. This is considered a major risk. Share price volatility 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. It may also indicate 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. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (4.8% average weekly change). Earnings have declined by 57% per year over the past 5 years. Reported Earnings • Aug 27
Second quarter 2025 earnings released: CL$0.066 loss per share (vs CL$3.82 loss in 2Q 2024) Second quarter 2025 results: CL$0.066 loss per share (improved from CL$3.82 loss in 2Q 2024). Revenue: CL$74.5b (down 18% from 2Q 2024). Net loss: CL$80.9m (loss narrowed 98% from 2Q 2024). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 65 percentage points per year, which is a significant difference in performance. Reported Earnings • May 29
First quarter 2025 earnings released: CL$6.61 loss per share (vs CL$8.42 loss in 1Q 2024) First quarter 2025 results: CL$6.61 loss per share (improved from CL$8.42 loss in 1Q 2024). Revenue: CL$54.7b (down 22% from 1Q 2024). Net loss: CL$8.09b (loss narrowed 22% from 1Q 2024). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 83 percentage points per year, which is a significant difference in performance. New Risk • Apr 05
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: CL$97.7b (US$99.8m) This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (11% operating cash flow to total debt). Earnings have declined by 52% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (3.5% average weekly change). Market cap is less than US$100m (CL$97.7b market cap, or US$99.8m). New Risk • Jan 31
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Chilean stocks, typically moving 4.4% a week. This is considered a major risk. Share price volatility 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. It may also indicate 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. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (11% operating cash flow to total debt). Share price has been highly volatile over the past 3 months (4.4% average weekly change). Earnings have declined by 52% per year over the past 5 years. New Risk • Dec 13
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 Risks Debt is not well covered by operating cash flow (11% operating cash flow to total debt). Earnings have declined by 52% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (3.5% average weekly change). Market cap is less than US$100m (CL$96.2b market cap, or US$97.6m). Reported Earnings • Dec 10
Third quarter 2024 earnings released: CL$4.79 loss per share (vs CL$7.06 loss in 3Q 2023) Third quarter 2024 results: CL$4.79 loss per share (improved from CL$7.06 loss in 3Q 2023). Revenue: CL$85.9b (up 18% from 3Q 2023). Net loss: CL$5.86b (loss narrowed 32% from 3Q 2023). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 94 percentage points per year, which is a significant difference in performance. Reported Earnings • Aug 25
Second quarter 2024 earnings released: CL$3.82 loss per share (vs CL$7.02 loss in 2Q 2023) Second quarter 2024 results: CL$3.82 loss per share (improved from CL$7.02 loss in 2Q 2023). Revenue: CL$90.7b (up 106% from 2Q 2023). Net loss: CL$4.68b (loss narrowed 46% from 2Q 2023). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 72 percentage points per year, which is a significant difference in performance. New Risk • Aug 21
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 3.3% 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 Risks Debt is not well covered by operating cash flow (currently running at an operating cash loss). Earnings have declined by 44% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (3.3% average weekly change). Market cap is less than US$100m (CL$73.6b market cap, or US$80.3m). New Risk • Jun 13
New major risk - Financial position The company's debt is not well covered by operating cash flow. Currently running at an operating cash loss. 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 Risks Debt is not well covered by operating cash flow (currently running at an operating cash loss). Earnings have declined by 44% per year over the past 5 years. Reported Earnings • May 30
First quarter 2024 earnings released: CL$8.42 loss per share (vs CL$5.51 loss in 1Q 2023) First quarter 2024 results: CL$8.42 loss per share (further deteriorated from CL$5.51 loss in 1Q 2023). Revenue: CL$70.2b (up 37% from 1Q 2023). Net loss: CL$10.3b (loss widened 53% from 1Q 2023). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 65 percentage points per year, which is a significant difference in performance. Reported Earnings • Mar 27
Full year 2023 earnings released: CL$20.67 loss per share (vs CL$5.22 profit in FY 2022) Full year 2023 results: CL$20.67 loss per share (down from CL$5.22 profit in FY 2022). Revenue: CL$267.2b (up 14% from FY 2022). Net loss: CL$25.3b (down 496% from profit in FY 2022). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 40 percentage points per year, which is a significant difference in performance. New Risk • Feb 20
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 4.3% 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 Risks Debt is not well covered by operating cash flow (currently running at an operating cash loss). Earnings have declined by 29% per year over the past 5 years. Minor Risk Share price has been volatile over the past 3 months (4.3% average weekly change). Reported Earnings • Nov 27
Third quarter 2023 earnings released: CL$7.06 loss per share (vs CL$0.31 loss in 3Q 2022) Third quarter 2023 results: CL$7.06 loss per share (further deteriorated from CL$0.31 loss in 3Q 2022). Revenue: CL$72.7b (up 51% from 3Q 2022). Net loss: CL$8.64b (loss widened CL$8.26b from 3Q 2022). Over the last 3 years on average, earnings per share has fallen by 57% per year but the company’s share price has only fallen by 23% per year, which means it has not declined as severely as earnings. Reported Earnings • Aug 28
Second quarter 2023 earnings released: CL$7.02 loss per share (vs CL$2.57 profit in 2Q 2022) Second quarter 2023 results: CL$7.02 loss per share (down from CL$2.57 profit in 2Q 2022). Revenue: CL$44.0b (up 18% from 2Q 2022). Net loss: CL$8.59b (down 374% from profit in 2Q 2022). Over the last 3 years on average, earnings per share has fallen by 37% per year but the company’s share price has only fallen by 20% per year, which means it has not declined as severely as earnings. Reported Earnings • May 30
First quarter 2023 earnings released: CL$5.51 loss per share (vs CL$3.33 profit in 1Q 2022) First quarter 2023 results: CL$5.51 loss per share (down from CL$3.33 profit in 1Q 2022). Revenue: CL$51.4b (down 13% from 1Q 2022). Net loss: CL$6.74b (down 265% from profit in 1Q 2022). Over the last 3 years on average, earnings per share has fallen by 17% per year whereas the company’s share price has fallen by 19% per year. Upcoming Dividend • Apr 28
Upcoming dividend of CL$1.57 per share at 14% yield Eligible shareholders must have bought the stock before 05 May 2023. Payment date: 10 May 2023. Trailing yield: 14%. Within top quartile of Chilean dividend payers (13%). In line with average of industry peers (15%). Reported Earnings • Mar 18
Full year 2022 earnings released: EPS: CL$5.22 (vs CL$31.14 in FY 2021) Full year 2022 results: EPS: CL$5.22 (down from CL$31.14 in FY 2021). Revenue: CL$233.3b (down 29% from FY 2021). Net income: CL$6.39b (down 83% from FY 2021). Profit margin: 2.7% (down from 12% in FY 2021). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has remained flat but the company’s share price has fallen by 12% per year, which means it is significantly lagging earnings. Buying Opportunity • Mar 07
Now 21% undervalued Over the last 90 days, the stock is up 10%. The fair value is estimated to be CL$136, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 5.1% over the last 3 years. Earnings per share has grown by 6.0%. Valuation Update With 7 Day Price Move • Feb 16
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to CL$123, the stock trades at a trailing P/E ratio of 6.5x. Average trailing P/E is 6x in the Consumer Durables industry in Chile. Total loss to shareholders of 33% over the past three years. Reported Earnings • Nov 27
Third quarter 2022 earnings released: CL$0.31 loss per share (vs CL$11.11 profit in 3Q 2021) Third quarter 2022 results: CL$0.31 loss per share (down from CL$11.11 profit in 3Q 2021). Revenue: CL$48.0b (down 50% from 3Q 2021). Net loss: CL$376.6m (down 103% from profit in 3Q 2021). Over the last 3 years on average, earnings per share has increased by 6% per year but the company’s share price has fallen by 27% per year, which means it is significantly lagging earnings. Board Change • Nov 16
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 4 experienced directors. 4 highly experienced directors. 2 independent directors (5 non-independent directors). Independent Director Iansa Morales Mena was the last independent director to join the board, commencing their role in 2019. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. 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$115, the stock trades at a trailing P/E ratio of 3.4x. Average trailing P/E is 3x in the Consumer Durables industry in Chile. Total loss to shareholders of 59% over the past three years. Valuation Update With 7 Day Price Move • Aug 17
Investor sentiment improved over the past week After last week's 18% share price gain to CL$94.10, the stock trades at a trailing P/E ratio of 2.8x. Average trailing P/E is 3x in the Consumer Durables industry in Chile. Total loss to shareholders of 67% over the past three years. Reported Earnings • May 28
First quarter 2022 earnings: EPS and revenues miss analyst expectations First quarter 2022 results: EPS: CL$3.33 (up from CL$0.86 in 1Q 2021). Revenue: CL$58.9b (up 59% from 1Q 2021). Net income: CL$4.08b (up 285% from 1Q 2021). Profit margin: 6.9% (up from 2.9% in 1Q 2021). The increase in margin was driven by higher revenue. Revenue missed analyst estimates by 11%. Earnings per share (EPS) also missed analyst estimates by 13%. 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 33% per year, which means it is performing significantly worse than earnings. Upcoming Dividend • Apr 29
Upcoming dividend of CL$13.50 per share Eligible shareholders must have bought the stock before 06 May 2022. Payment date: 11 May 2022. Trailing yield: 13%. Within top quartile of Chilean dividend payers (9.9%). Lower than average of industry peers (15%). Board Change • Apr 27
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 4 experienced directors. 4 highly experienced directors. 2 independent directors (5 non-independent directors). Independent Director Iansa Morales Mena was the last independent director to join the board, commencing their role in 2019. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Reported Earnings • Mar 09
Full year 2021 earnings: EPS and revenues miss analyst expectations Full year 2021 results: EPS: CL$31.14 (up from CL$10.53 in FY 2020). Revenue: CL$329.7b (up 22% from FY 2020). Net income: CL$38.1b (up 196% from FY 2020). Profit margin: 12% (up from 4.8% in FY 2020). The increase in margin was driven by higher revenue. Revenue missed analyst estimates by 11%. Earnings per share (EPS) also missed analyst estimates by 13%. Over the last 3 years on average, earnings per share has fallen by 16% per year but the company’s share price has fallen by 39% per year, which means it is performing significantly worse than earnings. Valuation Update With 7 Day Price Move • Feb 14
Investor sentiment deteriorated over the past week After last week's 16% share price decline to CL$110, the stock trades at a trailing P/E ratio of 5.2x. Average trailing P/E is 5x in the Consumer Durables industry in Chile. Total loss to shareholders of 72% over the past three years. Valuation Update With 7 Day Price Move • Jan 21
Investor sentiment improved over the past week After last week's 18% share price gain to CL$134, the stock trades at a trailing P/E ratio of 6.4x. Average trailing P/E is 6x in the Consumer Durables industry in Chile. Total loss to shareholders of 66% over the past three years. Reported Earnings • Nov 26
Third quarter 2021 earnings: EPS and revenues miss analyst expectations Third quarter 2021 results: EPS: CL$11.11 (up from CL$1.13 in 3Q 2020). Revenue: CL$95.3b (up 51% from 3Q 2020). Net income: CL$13.6b (up CL$12.2b from 3Q 2020). Profit margin: 14% (up from 2.2% in 3Q 2020). The increase in margin was driven by higher revenue. Revenue missed analyst estimates by 11%. Earnings per share (EPS) also missed analyst estimates by 13%. Earnings per share (EPS) missed analyst estimates by 13%. Over the last 3 years on average, earnings per share has fallen by 23% per year but the company’s share price has fallen by 30% per year, which means it is performing significantly worse than earnings. Valuation Update With 7 Day Price Move • Sep 13
Investor sentiment deteriorated over the past week After last week's 15% share price decline to CL$138, the stock trades at a trailing P/E ratio of 12.4x. Average trailing P/E is 12x in the Consumer Durables industry in Chile. Total loss to shareholders of 60% over the past three years. Reported Earnings • Aug 26
Second quarter 2021 earnings released: EPS CL$5.96 (vs CL$3.53 in 2Q 2020) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: CL$74.0b (up 12% from 2Q 2020). Net income: CL$7.29b (up 69% from 2Q 2020). Profit margin: 9.9% (up from 6.5% 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 26% per year whereas the company’s share price has fallen by 25% per year. Valuation Update With 7 Day Price Move • May 20
Investor sentiment deteriorated over the past week After last week's 15% share price decline to CL$180, the stock trades at a trailing P/E ratio of 17.1x. Average trailing P/E is 14x in the Consumer Durables industry in Chile. Total loss to shareholders of 52% over the past three years. Upcoming Dividend • May 03
Upcoming dividend of CL$3.16 per share Eligible shareholders must have bought the stock before 10 May 2021. Payment date: 13 May 2021. Trailing yield: 2.4%. Lower than top quartile of Chilean dividend payers (6.1%). Lower than average of industry peers (3.5%). Reported Earnings • Mar 13
Full year 2020 earnings released: EPS CL$10.53 (vs CL$19.16 in FY 2019) The company reported a poor full year result with weaker earnings, revenues and profit margins. Full year 2020 results: Revenue: CL$270.1b (down 19% from FY 2019). Net income: CL$12.9b (down 45% from FY 2019). Profit margin: 4.8% (down from 7.0% in FY 2019). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 16% per year whereas the company’s share price has fallen by 15% per year. Is New 90 Day High Low • Mar 05
New 90-day high: CL$237 The company is up 18% from its price of CL$201 on 04 December 2020. The Chilean market is up 12% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Consumer Durables industry, which is up 8.0% over the same period. Is New 90 Day High Low • Jan 20
New 90-day high: CL$228 The company is up 22% from its price of CL$188 on 22 October 2020. The Chilean market is up 17% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Consumer Durables industry, which is up 12% over the same period. Is New 90 Day High Low • Jan 05
New 90-day high: CL$202 The company is up 7.0% from its price of CL$188 on 07 October 2020. The Chilean market is up 11% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Consumer Durables industry, which is up 2.0% over the same period. Reported Earnings • Nov 27
Third quarter 2020 earnings released: EPS CL$1.13 The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2020 results: Revenue: CL$62.9b (up 13% from 3Q 2019). Net income: CL$1.38b (up CL$1.78b from 3Q 2019). Profit margin: 2.2% (up from net loss in 3Q 2019). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 8% per year but the company’s share price has fallen by 16% per year, which means it is performing significantly worse than earnings. Is New 90 Day High Low • Nov 13
New 90-day low: CL$173 The company is down 17% from its price of CL$209 on 14 August 2020. The Chilean market is down 4.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Consumer Durables industry, which is down 10.0% over the same period. Is New 90 Day High Low • Oct 24
New 90-day low: CL$182 The company is down 15% from its price of CL$214 on 24 July 2020. The Chilean market is down 6.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Consumer Durables industry, which is down 9.0% over the same period. Is New 90 Day High Low • Sep 23
New 90-day low: CL$200 The company is down 15% from its price of CL$236 on 25 June 2020. The Chilean market is down 9.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Consumer Durables industry, which is down 5.0% over the same period.