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Electrolux de Chile Q4 profit climbs 45.7% YOY

CTI S.A. said its normalized net income for the fourth quarter came to 23.57 Chilean pesos per share, a gain of 45.7% from 16.18 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 6.99 billion pesos, a gain of 45.7% from 4.80 billion pesos in the prior-year period.

The normalized profit margin rose to 7.5% from 5.9% in the year-earlier period.

Total revenue grew 15.4% on an annual basis to 93.77 billion pesos from 81.24 billion pesos, and total operating expenses climbed 11.3% year over year to 79.88 billion pesos from 71.76 billion pesos.

Reported net income increased 11.3% on an annual basis to 5.50 billion pesos, or 18.53 pesos per share, from 4.94 billion pesos, or 16.65 pesos per share.

For the year, the company's normalized net income totaled 75.69 pesos per share, an increase of 40.7% from 53.80 pesos per share in the prior year.

Normalized net income was 22.45 billion pesos, a rise of 40.7% from 15.96 billion pesos in the prior year.

Full-year total revenue rose 21.1% year over year to 344.45 billion pesos from 284.52 billion pesos, and total operating expenses grew 19.6% on an annual basis to 300.47 billion pesos from 251.15 billion pesos.

The company said reported net income rose 50.9% on an annual basis to 24.18 billion pesos, or 81.51 pesos per share, in the full year, from 16.02 billion pesos, or 54.00 pesos per share.

As of March 28, US$1 was equivalent to 680.86 Chilean pesos.