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Coca-Cola Embonor Q4 profit climbs 34.4% YOY

Coca-Cola Embonor SA said its normalized net income for the fourth quarter came to 24.80 Chilean pesos per share, an increase of 34.4% from 18.45 pesos per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 12.67 billion pesos, a gain of 34.4% from 9.43 billion pesos in the year-earlier period.

The normalized profit margin climbed to 8.4% from 7.1% in the year-earlier period.

Total revenue climbed 12.7% on an annual basis to 150.72 billion pesos from 133.71 billion pesos, and total operating expenses rose 10.6% on an annual basis to 127.06 billion pesos from 114.85 billion pesos.

Reported net income grew on an annual basis to 14.18 billion pesos, or 27.76 pesos per share, from 13.52 billion pesos, or 26.47 pesos per share.

For the year, the company's normalized net income totaled 53.25 pesos per share, an increase of 39.0% from 38.29 pesos per share in the prior year.

Normalized net income was 27.20 billion pesos, a gain of 39.0% from 19.57 billion pesos in the prior year.

Full-year total revenue increased 13.2% from the prior-year period to 508.07 billion pesos from 448.67 billion pesos, and total operating expenses grew 12.0% year over year to 447.09 billion pesos from 399.35 billion pesos.

The company said reported net income grew 25.5% year over year to 28.07 billion pesos, or 54.94 pesos per share, in the full year, from 22.36 billion pesos, or 43.76 pesos per share.

As of March 4, US$1 was equivalent to 683.89 Chilean pesos.