Quiñenco (QUINENCO) Q1 2025 earnings summary

Executive summary

• Net income reached Ch$205,802 million in 1Q 2025, reversing a loss of Ch$11,916 million in 1Q 2024, driven by a strong rebound in the Transport segment and improved results from Enex, Banco de Chile, and CCU.

• The Transport segment saw a Ch$198,228 million improvement, mainly due to lower income tax at CSAV and better performance at Hapag-Lloyd.

• Enex, Banco de Chile, and CCU all increased their contributions to net income, while SM SAAM's contribution declined due to a non-recurring gain in 1Q 2024.

• Earnings per share were Ch$123.77 in 1Q 2025.

Financial highlights

• Consolidated revenues rose 3.5% year-over-year to Ch$1,377,030 million, led by Enex and SM SAAM.

• Operating income increased 9.3% to Ch$39,307 million, with EBITDA up 16.6% to Ch$85,801 million.

• Non-operating income surged to Ch$150,489 million from Ch$65,290 million in 1Q 2024.

• Net income attributable to controllers' shareholders was Ch$205,802 million, compared to a loss of Ch$11,916 million a year earlier.

Outlook and guidance

• Dividend distribution for 2024 totaled Ch$600 billion, equivalent to 90.3% of 2024 net income.

• NAV as of March 31, 2025, was US$8.9 billion, with a 28% discount to NAV.