New Risk • Jun 04
New minor risk - Profit margin trend The company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 0.8% Last year net profit margin: 6.9% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (1.5x net interest cover). Minor Risk Profit margins are more than 30% lower than last year (0.8% net profit margin). Board Change • May 18
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 5 non-independent directors. Independent Director Armando Valdivieso Montes was the last independent director to join the board, commencing their role in 2024. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Board Change • Apr 17
No independent directors Following the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 7 non-independent directors. Director Armando Valdivieso Montes was the last director to join the board, commencing their role in 2024. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Mar 31
Full year 2025 earnings released Full year 2025 results: Revenue: US$712.8m (up 15% from FY 2024). Net income: US$18.1m (up 1.4% from FY 2024). Profit margin: 2.5% (down from 2.9% in FY 2024). The decrease in margin was driven by higher expenses. Reported Earnings • Dec 02
Third quarter 2025 earnings released: US$0.003 loss per share (vs US$0 in 3Q 2024) Third quarter 2025 results: US$0.003 loss per share (further deteriorated from US$0 in 3Q 2024). Revenue: US$164.0m (up 19% from 3Q 2024). Net loss: US$5.34m (down US$5.90m from profit in 3Q 2024). Over the last 3 years on average, earnings per share has fallen by 39% per year but the company’s share price has increased by 5% per year, which means it is well ahead of earnings. Reported Earnings • Sep 01
Second quarter 2025 earnings released: EPS: US$0.001 (vs US$0.005 in 2Q 2024) Second quarter 2025 results: EPS: US$0.001 (down from US$0.005 in 2Q 2024). Revenue: US$195.4m (up 22% from 2Q 2024). Net income: US$2.02m (down 73% from 2Q 2024). Profit margin: 1.0% (down from 4.6% in 2Q 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 51% per year but the company’s share price has only fallen by 7% per year, which means it has not declined as severely as earnings. Board Change • Jul 09
No independent directors Following the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 7 non-independent directors. Director Armando Valdivieso Montes was the last director to join the board, commencing their role in 2024. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Jun 02
First quarter 2025 earnings released: EPS: US$0.017 (vs US$0.001 loss in 1Q 2024) First quarter 2025 results: EPS: US$0.017 (up from US$0.001 loss in 1Q 2024). Revenue: US$209.3m (up 50% from 1Q 2024). Net income: US$28.0m (up US$29.9m from 1Q 2024). Profit margin: 13% (up from net loss in 1Q 2024). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 61% per year but the company’s share price has only fallen by 4% per year, which means it has not declined as severely as earnings. New Risk • Apr 13
New major risk - Financial position The company's interest payments are not well covered by earnings. Net interest cover: 2.7x This is considered a major risk. If the company is unable to fund interest repayments on its debt through profits, it may be forced into reducing its debt burden through selling assets, undertaking a potentially costly capital raising or even into bankruptcy in the worst case scenario. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (2.7x net interest cover). Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Large one-off items impacting financial results. Announcement • Mar 28
Blumar S.A., Annual General Meeting, Apr 29, 2025 Blumar S.A., Annual General Meeting, Apr 29, 2025. Location: valparaiso room of the best western hotel, premier marina las condes, alonso de cordova 5727 second floor, commune of las condes, santiago Chile Board Change • Dec 23
No independent directors Following the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 7 non-independent directors. Director Armando Valdivieso Montes was the last director to join the board, commencing their role in 2024. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Dec 01
Third quarter 2024 earnings released: EPS: US$0 (vs US$0.003 loss in 3Q 2023) Third quarter 2024 results: EPS: US$0 (improved from US$0.003 loss in 3Q 2023). Revenue: US$138.2m (down 9.4% from 3Q 2023). Net income: US$561.0k (up US$5.36m from 3Q 2023). Profit margin: 0.4% (up from net loss in 3Q 2023). 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 2% per year, which means it has not declined as severely as earnings. Reported Earnings • Sep 01
Second quarter 2024 earnings released: EPS: US$0.005 (vs US$0.012 in 2Q 2023) Second quarter 2024 results: EPS: US$0.005 (down from US$0.012 in 2Q 2023). Revenue: US$160.5m (down 22% from 2Q 2023). Net income: US$7.37m (down 63% from 2Q 2023). Profit margin: 4.6% (down from 9.6% in 2Q 2023). Over the last 3 years on average, earnings per share has fallen by 29% per year but the company’s share price has only fallen by 6% per year, which means it has not declined as severely as earnings. Reported Earnings • Jun 05
First quarter 2024 earnings released: US$0.001 loss per share (vs US$0.009 profit in 1Q 2023) First quarter 2024 results: US$0.001 loss per share (down from US$0.009 profit in 1Q 2023). Revenue: US$140.0m (down 23% from 1Q 2023). Net loss: US$1.82m (down 113% from profit in 1Q 2023). Over the last 3 years on average, earnings per share has increased by 18% per year but the company’s share price has fallen by 5% per year, which means it is significantly lagging earnings. New Risk • Mar 31
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 37% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (2.6x net interest cover). Minor Risks Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (1.9% net profit margin). Reported Earnings • Mar 28
Full year 2023 earnings released: EPS: US$0.008 (vs US$0.039 in FY 2022) Full year 2023 results: EPS: US$0.008 (down from US$0.039 in FY 2022). Revenue: US$674.4m (up 2.2% from FY 2022). Net income: US$13.1m (down 79% from FY 2022). Profit margin: 1.9% (down from 9.6% in FY 2022). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 53% per year but the company’s share price has fallen by 4% per year, which means it is significantly lagging earnings. New Risk • Feb 11
New major risk - Financial position The company's interest payments are not well covered by earnings. Net interest cover: 2.8x This is considered a major risk. If the company is unable to fund interest repayments on its debt through profits, it may be forced into reducing its debt burden through selling assets, undertaking a potentially costly capital raising or even into bankruptcy in the worst case scenario. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (2.8x net interest cover). Minor Risk Profit margins are more than 30% lower than last year (3.8% net profit margin). Reported Earnings • Dec 01
Third quarter 2023 earnings released: US$0.003 loss per share (vs US$0.014 profit in 3Q 2022) Third quarter 2023 results: US$0.003 loss per share (down from US$0.014 profit in 3Q 2022). Revenue: US$152.5m (down 15% from 3Q 2022). Net loss: US$4.80m (down 122% from profit in 3Q 2022). Over the last 3 years on average, earnings per share has increased by 78% per year but the company’s share price has only increased by 9% per year, which means it is significantly lagging earnings growth. New Risk • Aug 31
New major risk - Financial position The company's debt is not well covered by operating cash flow. Operating cash flow to total debt ratio: 19% 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 (19% operating cash flow to total debt). Minor Risks Dividend is not well covered by cash flows (170% cash payout ratio). Profit margins are more than 30% lower than last year (7.5% net profit margin). Reported Earnings • Aug 31
Second quarter 2023 earnings released: EPS: US$0.012 (vs US$0.012 in 2Q 2022) Second quarter 2023 results: EPS: US$0.012 (in line with 2Q 2022). Revenue: US$206.8m (up 11% from 2Q 2022). Net income: US$19.9m (down 25% from 2Q 2022). Profit margin: 9.6% (down from 14% in 2Q 2022). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 94% per year but the company’s share price has only increased by 9% per year, which means it is significantly lagging earnings growth. Reported Earnings • Jun 06
First quarter 2023 earnings released: EPS: US$0.009 (vs US$0.011 in 1Q 2022) First quarter 2023 results: EPS: US$0.009 (down from US$0.011 in 1Q 2022). Revenue: US$182.4m (up 23% from 1Q 2022). Net income: US$14.2m (down 19% from 1Q 2022). Profit margin: 7.8% (down from 12% in 1Q 2022). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 92% per year but the company’s share price has only increased by 9% per year, which means it is significantly lagging earnings growth. Reported Earnings • Apr 01
Full year 2022 earnings released: EPS: US$0.039 (vs US$0.03 in FY 2021) Full year 2022 results: EPS: US$0.039 (up from US$0.03 in FY 2021). Revenue: US$659.8m (up 5.3% from FY 2021). Net income: US$63.5m (up 31% from FY 2021). Profit margin: 9.6% (up from 7.8% in FY 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 86% per year but the company’s share price has only increased by 7% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Dec 15
Upcoming dividend of US$0.012 per share Eligible shareholders must have bought the stock before 22 December 2022. Payment date: 27 December 2022. Payout ratio is a comfortable 12% but the company is paying out more than the cash it is generating. Trailing yield: 5.1%. Lower than top quartile of Chilean dividend payers (13%). Lower than average of industry peers (6.7%). Reported Earnings • Dec 01
Third quarter 2022 earnings released: EPS: US$0.026 (vs US$0.003 in 3Q 2021) Third quarter 2022 results: EPS: US$0.026 (up from US$0.003 in 3Q 2021). Revenue: US$178.9m (up 12% from 3Q 2021). Net income: US$22.3m (up 387% from 3Q 2021). Profit margin: 13% (up from 2.9% in 3Q 2021). Over the last 3 years on average, earnings per share has increased by 75% per year but the company’s share price has fallen by 2% per year, which means it is significantly lagging earnings. Board Change • Nov 16
No independent directors Following the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 7 non-independent directors. First Vice President of the Board Juan Ignacio Tagle was the last director to join the board, commencing their role in 2021. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Sep 03
Second quarter 2022 earnings released: EPS: US$0.012 (vs US$0.013 in 2Q 2021) Second quarter 2022 results: EPS: US$0.012. Revenue: US$187.1m (down 4.7% from 2Q 2021). Net income: US$26.6m (up 30% from 2Q 2021). Profit margin: 14% (up from 11% in 2Q 2021). The increase in margin was driven by lower expenses. Board Change • Apr 26
No independent directors Following the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 7 non-independent directors. First Vice President of the Board Juan Vinagre Tagle was the last director to join the board, commencing their role in 2021. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Nov 25
Third quarter 2021 earnings: Revenues and EPS in line with analyst expectations Third quarter 2021 results: EPS: US$0.003 (up from US$0.009 loss in 3Q 2020). Revenue: US$159.9m (up 38% from 3Q 2020). Net income: US$4.58m (up US$17.9m from 3Q 2020). Profit margin: 2.9% (up from net loss in 3Q 2020). Revenue was in line with analyst estimates. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 85 percentage points per year, which is a significant difference in performance. Reported Earnings • Mar 29
Full year 2020 earnings released: US$0.032 loss per share (vs US$0.009 profit in FY 2019) The company reported a soft full year result with weaker earnings and weaker control over costs, although revenues improved. Full year 2020 results: Revenue: US$463.7m (up 19% from FY 2019). Net loss: US$51.5m (down US$63.9m from profit in FY 2019). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 102 percentage points per year, which is a significant difference in performance. Is New 90 Day High Low • Mar 03
New 90-day high: CL$228 The company is up 35% from its price of CL$169 on 02 December 2020. The Chilean market is up 12% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Food industry, which is up 9.0% over the same period. Is New 90 Day High Low • Jan 19
New 90-day high: CL$209 The company is up 23% from its price of CL$170 on 21 October 2020. The Chilean market is up 18% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Food industry, which is up 8.0% over the same period. Is New 90 Day High Low • Dec 24
New 90-day high: CL$181 The company is up 8.0% from its price of CL$168 on 24 September 2020. The Chilean market is up 9.0% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Food industry, which is up 1.0% over the same period. Is New 90 Day High Low • Dec 03
New 90-day low: CL$167 The company is down 4.0% from its price of CL$173 on 04 September 2020. The Chilean market is up 3.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Food industry, which is down 2.0% over the same period. Reported Earnings • Nov 12
Third quarter 2020 earnings released: US$0.009 loss per share The company reported a soft third quarter result with weaker earnings and control over expenses, although revenues were improved. Third quarter 2020 results: Revenue: US$115.9m (up 25% from 3Q 2019). Net loss: US$13.3m (down 299% from profit in 3Q 2019). Over the last 3 years on average, earnings per share has fallen by 72% per year but the company’s share price has increased by 1% per year, which means it is well ahead of earnings.