Tuesday , August 16 2022

Quiñenco benefits 135%



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General Manager of Kvenko Francisco Perez Makenna confirmed the company's results. "It was a time of success and positive news, and I would like to highlight the importance of CCU's business in Argentina, the CSAV and Hapag-Lloyd results, and the entry into the Anex market in the United States. We grow up in Chile and continue exploring business opportunities abroad, "he said.

Kvinenko recorded a net profit of $ 153,832 million in the first nine months of 2018, an increase of 135 percent over the same period of 2017.

This is largely explained in accordance with the Andrónico Luksić Abaroa-based consortium, which is based primarily on the recovery of CSAV and a recurring benefit from KMF after a transaction that anticipates a suspension of the Budweiser license in Argentina.

Corresponding factors

First, the Companía Sudamericana de Vapores (CSAV) is due to the depletion of Hapag-Lloyd after the merger of the United Arab Emirates (UASC) in 2017. Until September of this year, the German Shipping Company has received positive results due to its good operational performance in the context of critical situations in container shipbuilding.

From the profit of Kvinko until the third quarter of 2018, the benefits of the CCU were also significant. It should be noted that this is mainly due to the $ 153,496 million revenue reported by the Budweiser Licensing Agency in Argentina, but has a 25% increase in Chilean and International Business segments.

In turn, Banco de Chile maintains a similar level of the previous period and earned $ 433.350 million. The 7% increase in operating income of the bank, both related to clients' income and the positive effect of inflation for the period, was largely repaid, mainly due to high costs and provisions for credit risk. Net gains accrued by the Bank allow advance payment of 100% of the Subordinated Debt Secured by the Central Bank, which supports the Sub-Shilin. The final commission fee must be paid 17 years before the end of April, 2019, to terminate this obligation.

In SM SAAM, the recurring profits from the sale of a minority interest in Tramars last year, the share of the subsidiary in the holding will drop by 38% in 2018. However, Continuous Operations, the Terminal Ports segment worked well, the majority of them being highly active, and the logistics segment, especially in the third quarter, shows a recovery.

In the energy sector, Enex has achieved good operating results, based on the EBITDA growth of 11%, the growth in sales volumes, and good margins on service stations and lubricants, as well as the beneficial effects of the estimated reserves. due to the rise in historical prices. Thus, the net profit increased by 13%.

At the crucial stage of Quinenco's internationalization strategy, Enex entered the US market last week by purchasing a network of 38 road hubs of Road Ranger, which is located on the main roads. they join the Texas state in the Midwest. The $ 289 million deal has an interesting growth potential.

An important event at the international level was the discovery of Invexans Limited, a subsidiary of London, Invexans, focused on exploring new business opportunities and concentrating its investment in the parent, particularly Europe and other countries. Recently, Ingvensen announced that he invested in that subsidiary in the UK with a French company Nexans, which today reaches 28.39% of the shares. The French transnational corporation does not report on the results of the third quarter of the year.

The strategy works

Together with the September assessment, Quiñenco CEO Francisco Perez Mackenna confirmed the company's strategy. "It was a time of success and positive news, and I would like to highlight the importance of CCU's business in Argentina, the CSAV and Hapag-Lloyd results, and the entry into the Anex market in the United States. We grow up in Chile and continue exploring business opportunities abroad, "he said.

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