Announcement • Apr 03
Empresas Hites S.A., Annual General Meeting, Apr 17, 2026 Empresas Hites S.A., Annual General Meeting, Apr 17, 2026. Location: 970 moneda street, 14th floor, santiago Chile Reported Earnings • Mar 12
Full year 2025 earnings released: CL$21.19 loss per share (vs CL$91.28 loss in FY 2024) Full year 2025 results: CL$21.19 loss per share (improved from CL$91.28 loss in FY 2024). Revenue: CL$317.2b (flat on FY 2024). Net loss: CL$11.8b (loss narrowed 66% from FY 2024). Over the last 3 years on average, earnings per share has fallen by 29% per year but the company’s share price has increased by 9% per year, which means it is well ahead of earnings. 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: 14% 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 (14% operating cash flow to total debt). Earnings have declined by 49% per year over the past 5 years. Shareholders have been substantially diluted in the past year (80% increase in shares outstanding). Buy Or Sell Opportunity • Mar 06
Now 21% overvalued Over the last 90 days, the stock has fallen 4.6% to CL$130. The fair value is estimated to be CL$107, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 6.7% over the last 3 years. Meanwhile, the company became loss making. Buy Or Sell Opportunity • Jan 28
Now 20% overvalued Over the last 90 days, the stock has fallen 3.0% to CL$126. The fair value is estimated to be CL$105, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 6.7% over the last 3 years. Meanwhile, the company became loss making. Buy Or Sell Opportunity • Jan 02
Now 22% overvalued after recent price rise Over the last 90 days, the stock has risen 9.0% to CL$128. The fair value is estimated to be CL$105, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 6.7% over the last 3 years. Meanwhile, the company became loss making. Reported Earnings • Dec 03
Third quarter 2025 earnings released: CL$11.91 loss per share (vs CL$20.32 loss in 3Q 2024) Third quarter 2025 results: CL$11.91 loss per share (improved from CL$20.32 loss in 3Q 2024). Revenue: CL$69.5b (down 3.1% from 3Q 2024). Net loss: CL$6.13b (loss narrowed 20% from 3Q 2024). Over the last 3 years on average, earnings per share has fallen by 62% per year but the company’s share price has increased by 15% per year, which means it is well ahead of earnings. New Risk • Sep 08
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 Risks Debt is not well covered by operating cash flow (19% operating cash flow to total debt). Earnings have declined by 40% per year over the past 5 years. Shareholders have been substantially diluted in the past year (80% increase in shares outstanding). Minor Risks Share price has been volatile over the past 3 months (4.1% average weekly change). Market cap is less than US$100m (CL$81.4b market cap, or US$84.4m). Reported Earnings • Aug 27
Second quarter 2025 earnings released: CL$27.44 loss per share (vs CL$18.12 loss in 2Q 2024) Second quarter 2025 results: CL$27.44 loss per share. Revenue: CL$78.3b (flat on 2Q 2024). Net loss: CL$2.87b (loss narrowed 58% from 2Q 2024). New Risk • Jul 11
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 77% This is considered a major 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 Risks Share price has been highly volatile over the past 3 months (6.0% average weekly change). Earnings have declined by 38% per year over the past 5 years. Shareholders have been substantially diluted in the past year (77% increase in shares outstanding). Minor Risks High level of debt (83% net debt to equity). Market cap is less than US$100m (CL$69.3b market cap, or US$72.4m). Announcement • Mar 31
Empresas Hites S.A., Annual General Meeting, Apr 25, 2025 Empresas Hites S.A., Annual General Meeting, Apr 25, 2025. Location: held remotely, Chile New Risk • Oct 02
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 4.7% 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 (4.7% average weekly change). Earnings have declined by 25% per year over the past 5 years. Minor Risks High level of debt (53% net debt to equity). Paying a dividend despite being loss-making. Market cap is less than US$100m (CL$37.0b market cap, or US$40.5m). New Risk • Sep 25
New minor risk - Financial position The company has a high level of debt. Net debt to equity ratio: 53% 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 25% per year over the past 5 years. Minor Risks High level of debt (53% net debt to equity). Paying a dividend despite being loss-making. Market cap is less than US$100m (CL$37.0b market cap, or US$40.6m). Reported Earnings • Sep 15
Second quarter 2024 earnings released: CL$18.12 loss per share (vs CL$6.11 loss in 2Q 2023) Second quarter 2024 results: CL$18.12 loss per share (further deteriorated from CL$6.11 loss in 2Q 2023). Revenue: CL$79.0b (down 1.3% from 2Q 2023). Net loss: CL$6.83b (loss widened 197% from 2Q 2023). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 93 percentage points per year, which is a significant difference in performance. New Risk • Aug 20
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 4.0% 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 (4.0% average weekly change). Earnings have declined by 15% per year over the past 5 years. Minor Risks High level of debt (61% net debt to equity). Paying a dividend despite being loss-making. Market cap is less than US$100m (CL$37.0b market cap, or US$40.0m). Reported Earnings • Jun 04
First quarter 2024 earnings released: CL$23.90 loss per share (vs CL$18.38 loss in 1Q 2023) First quarter 2024 results: CL$23.90 loss per share (further deteriorated from CL$18.38 loss in 1Q 2023). Revenue: CL$74.9b (down 6.0% from 1Q 2023). Net loss: CL$9.01b (loss widened 30% from 1Q 2023). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 70 percentage points per year, which is a significant difference in performance. Reported Earnings • Mar 29
Full year 2023 earnings released: CL$77.31 loss per share (vs CL$23.52 profit in FY 2022) Full year 2023 results: CL$77.31 loss per share (down from CL$23.52 profit in FY 2022). Revenue: CL$324.5b (down 12% from FY 2022). Net loss: CL$29.2b (down 429% from profit in FY 2022). Over the last 3 years on average, earnings per share has fallen by 45% per year but the company’s share price has only fallen by 16% per year, which means it has not declined as severely as earnings. New Risk • Feb 14
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 4.1% 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: Minor Risks High level of debt (59% net debt to equity). Paying a dividend despite being loss-making. Share price has been volatile over the past 3 months (4.1% average weekly change). Market cap is less than US$100m (CL$28.4b market cap, or US$29.7m). Buying Opportunity • Dec 05
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 25%. The fair value is estimated to be CL$103, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 6.7% over the last 3 years, while earnings per share has been flat. Reported Earnings • Dec 01
Third quarter 2023 earnings released: CL$38.69 loss per share (vs CL$0.57 profit in 3Q 2022) Third quarter 2023 results: CL$38.69 loss per share (down from CL$0.57 profit in 3Q 2022). Revenue: CL$72.1b (down 14% from 3Q 2022). Net loss: CL$14.6b (down CL$14.8b from profit in 3Q 2022). Over the last 3 years on average, earnings per share has remained flat but the company’s share price has fallen by 7% per year, which means it is significantly lagging earnings. New Risk • Sep 24
New major risk - Financial position The company's interest payments are not well covered by earnings. Net interest cover: 1.3x 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 Risks Interest payments are not well covered by earnings (1.3x net interest cover). Share price has been highly volatile over the past 3 months (5.3% average weekly change). Minor Risks Paying a dividend despite being loss-making. Market cap is less than US$100m (CL$35.8b market cap, or US$40.1m). Reported Earnings • Sep 14
Second quarter 2023 earnings released: CL$6.11 loss per share (vs CL$5.68 profit in 2Q 2022) Second quarter 2023 results: CL$6.11 loss per share (down from CL$5.68 profit in 2Q 2022). Revenue: CL$80.0b (down 13% from 2Q 2022). Net loss: CL$2.30b (down 208% from profit in 2Q 2022). Over the last 3 years on average, earnings per share has increased by 40% per year but the company’s share price has fallen by 6% per year, which means it is significantly lagging earnings. New Risk • Jul 06
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 Risk Interest payments are not well covered by earnings (2.0x net interest cover). Minor Risks Paying a dividend despite being loss-making. Share price has been volatile over the past 3 months (4.3% average weekly change). Market cap is less than US$100m (CL$38.0b market cap, or US$47.7m). Reported Earnings • Jun 06
First quarter 2023 earnings released: CL$18.38 loss per share (vs CL$6.76 profit in 1Q 2022) First quarter 2023 results: CL$18.38 loss per share (down from CL$6.76 profit in 1Q 2022). Revenue: CL$79.0b (down 9.3% from 1Q 2022). Net loss: CL$6.93b (down 372% from profit in 1Q 2022). Over the last 3 years on average, earnings per share has increased by 60% per year but the company’s share price has fallen by 14% per year, which means it is significantly lagging earnings. Upcoming Dividend • May 15
Upcoming dividend of CL$7.06 per share at 34% yield Eligible shareholders must have bought the stock before 22 May 2023. Payment date: 26 May 2023. Payout ratio is a comfortable 18% and this is well supported by cash flows. Trailing yield: 34%. Within top quartile of Chilean dividend payers (13%). Higher than average of industry peers (3.8%). Reported Earnings • Nov 27
Third quarter 2022 earnings released: EPS: CL$0.57 (vs CL$29.02 in 3Q 2021) Third quarter 2022 results: EPS: CL$0.57 (down from CL$29.02 in 3Q 2021). Revenue: CL$83.5b (down 25% from 3Q 2021). Net income: CL$214.4m (down 98% from 3Q 2021). Profit margin: 0.3% (down from 9.8% in 3Q 2021). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 79% per year but the company’s share price has fallen by 20% per year, which means it is significantly lagging earnings. Price Target Changed • Nov 16
Price target increased to CL$190 Up from CL$170, the current price target is provided by 1 analyst. New target price is 117% above last closing price of CL$87.56. Stock is down 46% over the past year. The company posted earnings per share of CL$111 last year. Board Change • Nov 16
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 Jaime Valencia was the last independent director to join the board, commencing their role in 2020. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Aug 27
Second quarter 2022 earnings released: EPS: CL$5.68 (vs CL$21.38 in 2Q 2021) Second quarter 2022 results: EPS: CL$5.68 (down from CL$21.38 in 2Q 2021). Revenue: CL$91.9b (up 3.6% from 2Q 2021). Net income: CL$2.14b (down 73% from 2Q 2021). Profit margin: 2.3% (down from 9.1% in 2Q 2021). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 78% per year but the company’s share price has fallen by 38% per year, which means it is significantly lagging earnings. Reported Earnings • May 24
First quarter 2022 earnings released: EPS: CL$6.76 (vs CL$10.96 in 1Q 2021) First quarter 2022 results: EPS: CL$6.76 (down from CL$10.96 in 1Q 2021). Revenue: CL$87.2b (up 20% from 1Q 2021). Net income: CL$2.55b (down 38% from 1Q 2021). Profit margin: 2.9% (down from 5.7% in 1Q 2021). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 66% per year but the company’s share price has fallen by 35% per year, which means it is significantly lagging earnings. Price Target Changed • Apr 27
Price target increased to CL$200 Up from CL$170, the current price target is provided by 1 analyst. New target price is 51% above last closing price of CL$133. Stock is down 22% over the past year. The company posted earnings per share of CL$111 last year. Board Change • Apr 27
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 Jaime Valencia was the last independent director to join the board, commencing their role in 2020. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Upcoming Dividend • Apr 18
Upcoming dividend of CL$11.16 per share Eligible shareholders must have bought the stock before 25 April 2022. Payment date: 29 April 2022. Trailing yield: 16%. Within top quartile of Chilean dividend payers (9.5%). Higher than average of industry peers (1.3%). Reported Earnings • Mar 17
Full year 2021 earnings: EPS in line with analyst expectations despite revenue beat Full year 2021 results: EPS: CL$111 (up from CL$34.90 loss in FY 2020). Revenue: CL$403.8b (up 39% from FY 2020). Net income: CL$41.7b (up CL$54.9b from FY 2020). Profit margin: 10% (up from net loss in FY 2020). The move to profitability was driven by higher revenue. Revenue exceeded analyst estimates by 3.4%. Over the last 3 years on average, earnings per share has increased by 41% per year but the company’s share price has fallen by 30% per year, which means it is significantly lagging earnings. Buying Opportunity • Feb 17
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 6.4%. The fair value is estimated to be CL$187, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. The company has become profitable over the last year. Upcoming Dividend • Jan 10
Upcoming dividend of CL$22.00 per share Eligible shareholders must have bought the stock before 17 January 2022. Payment date: 20 January 2022. Payout ratio is a comfortable 22% but the company is not cash flow positive. Trailing yield: 25%. Within top quartile of Chilean dividend payers (10.0%). Higher than average of industry peers (1.5%). Valuation Update With 7 Day Price Move • Dec 28
Investor sentiment improved over the past week After last week's 22% share price gain to CL$177, the stock trades at a trailing P/E ratio of 2.3x. Average trailing P/E is 13x in the Multiline Retail industry in South America. Total loss to shareholders of 59% over the past three years. Reported Earnings • Nov 15
Third quarter 2021 earnings released: EPS CL$29.02 (vs CL$7.33 loss in 3Q 2020) The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: CL$111.6b (up 59% from 3Q 2020). Net income: CL$10.9b (up CL$13.7b from 3Q 2020). Profit margin: 9.8% (up from net loss in 3Q 2020). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 6% per year but the company’s share price has fallen by 31% per year, which means it is performing significantly worse than earnings. Price Target Changed • Nov 13
Price target increased to CL$200 Up from CL$170, the current price target is provided by 1 analyst. New target price is 17% above last closing price of CL$171. Stock is up 66% over the past year. The company posted a net loss per share of CL$34.90 last year. Valuation Update With 7 Day Price Move • Oct 25
Investor sentiment improved over the past week After last week's 15% share price gain to CL$141, the stock trades at a trailing P/E ratio of 3.5x. Average trailing P/E is 24x in the Multiline Retail industry in South America. Total loss to shareholders of 72% over the past three years. Reported Earnings • Sep 15
Second quarter 2021 earnings released: EPS CL$21.38 (vs CL$34.04 loss in 2Q 2020) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: CL$88.7b (up 89% from 2Q 2020). Net income: CL$8.06b (up CL$20.9b from 2Q 2020). Profit margin: 9.1% (up from net loss in 2Q 2020). 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 36% per year, which means it has not declined as severely as earnings. Reported Earnings • May 29
First quarter 2021 earnings released: EPS CL$10.96 (vs CL$8.88 loss in 1Q 2020) The company reported a decent first quarter result with improved earnings and profit margins, although revenues were flat. First quarter 2021 results: Revenue: CL$72.9b (flat on 1Q 2020). Net income: CL$4.13b (up CL$7.48b from 1Q 2020). Profit margin: 5.7% (up from net loss in 1Q 2020). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 63 percentage points per year, which is a significant difference in performance. Analyst Estimate Surprise Post Earnings • Mar 07
Revenue beats expectations Revenue exceeded analyst estimates by 3.4%. Over the next year, revenue is forecast to grow 6.7%, compared to a 25% growth forecast for the Multiline Retail industry in Chile. Reported Earnings • Mar 07
Full year 2020 earnings released: CL$34.90 loss per share (vs CL$17.68 profit in FY 2019) The company reported a poor full year result with weaker earnings, revenues and control over costs. Full year 2020 results: Revenue: CL$291.2b (down 10% from FY 2019). Net loss: CL$13.2b (down 297% from profit in FY 2019). Over the last 3 years on average, earnings per share has fallen by 97% per year but the company’s share price has only fallen by 42% per year, which means it has not declined as severely as earnings. Is New 90 Day High Low • Feb 25
New 90-day high: CL$124 The company is up 11% from its price of CL$112 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 Multiline Retail industry, which is flat over the same period. Is New 90 Day High Low • Jan 13
New 90-day high: CL$114 The company is up 6.0% from its price of CL$107 on 14 October 2020. The Chilean market is up 16% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Multiline Retail industry, which is flat over the same period. Is New 90 Day High Low • Dec 22
New 90-day low: CL$99.01 The company is down 15% from its price of CL$116 on 22 September 2020. The Chilean market is up 9.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Multiline Retail industry, which is up 7.0% over the same period. Reported Earnings • Nov 19
Third quarter 2020 earnings released: CL$7.33 loss per share The company reported a poor third quarter result with weaker earnings, revenues and control over expenses. Third quarter 2020 results: Revenue: CL$70.2b (down 10.0% from 3Q 2019). Net loss: CL$2.77b (down CL$3.42b from profit in 3Q 2019). Over the last 3 years on average, earnings per share has fallen by 88% per year but the company’s share price has only fallen by 39% per year, which means it has not declined as severely as earnings. Is New 90 Day High Low • Oct 22
New 90-day low: CL$105 The company is down 21% from its price of CL$134 on 24 July 2020. The Chilean market is down 8.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Multiline Retail industry, which is up 6.0% over the same period. Is New 90 Day High Low • Sep 22
New 90-day low: CL$116 The company is down 14% from its price of CL$135 on 24 June 2020. The Chilean market is down 7.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Multiline Retail industry, which is up 6.0% over the same period.