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Inversiones Siemel Q4 profit climbs YOY

Inversiones Siemel S.A. said its normalized net income for the fourth quarter came to 10.65 Chilean pesos per share, an increase from 1.13 pesos per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 3.86 billion pesos, a gain from 411.3 million pesos in the prior-year period.

The normalized profit margin rose to 22.6% from 5.2% in the year-earlier period.

Total revenue increased on an annual basis to 17.10 billion pesos from 7.88 billion pesos, and total operating expenses climbed 94.7% on an annual basis to 14.77 billion pesos from 7.59 billion pesos.

Reported net income came to 6.15 billion pesos, or 16.97 pesos per share, compared to a loss of 1.19 billion pesos, or a loss of 3.29 pesos per share, in the year-earlier period.

For the year, the company's normalized net income totaled 15.69 pesos per share, an increase of 33.4% from 11.76 pesos per share in the prior year.

Normalized net income was 5.69 billion pesos, an increase of 33.4% from 4.26 billion pesos in the prior year.

Full-year total revenue increased year over year to 48.38 billion pesos from 21.42 billion pesos, and total operating expenses increased 105.5% year over year to 46.02 billion pesos from 22.39 billion pesos.

The company said reported net income grew 87.2% on an annual basis to 8.59 billion pesos, or 23.70 pesos per share, in the full year, from 4.59 billion pesos, or 12.66 pesos per share.

As of March 29, US$1 was equivalent to 678.43 Chilean pesos.