Santiago-based Supermercados Unimarc SA, the fourth largest food retailer in Chile, today announced that sales in its Q4 2002 fell 20.6% year on year to Ch$37,775m.
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Net sales for the year 2001 meanwhile were Ch$143,635m, a 12.4% decrease compared to the Ch$163,935m reported in the year 2000. The company attributed this decrease to greater competition, as its main competitors invested in their growth both organically and through acquisitions.
The company’s same store sales in Chile decreased 14.3% during the year 2001 compared to the year 2000.
Gross profit during the Q4 of 2001 was Ch$8,912m, which represents a 106.5% increase compared to Ch$4,316m year on year. Gross profit for the FY 2001 was Ch$33,161m, an increase of 15% compared to the Ch$28,837m reported in the year 2000. The company said that these increases in are due to an improvement of the commercialisation margin.
As a percentage of sales, gross margins were 23.6% during the Q4 2001, compared to 9.1% during the same period of 2000. Gross margins for the FY 2001 were 23.1% compared to 17.6% in the year in 2000.
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By GlobalDataSelling, General and Administrative (SG&A) expenses during Q4 2001 were Ch$8,423m, a 20% increase compared to Ch$7,018m reported in the Q4 of the year 2000.
For the year 2001, SG&A expenses were Ch$31,540m, a 10.2% increase compared to Ch$28,615m reported in the year 2000. As a percentage of sales, SG&A expenses increased from 14.7% in Q4 2000 to 22.3% in the year 2001. SG&A expenses, as a percentage of sales, increased from 17.5% during the year 2000 to 22% in Fy 2001.
Operating income during the Q4 of 2001 was Ch$489m, which represented a 118.1% increase or Ch$3,191m from operating loss of Ch$2,702m reported in the Q4 2000.
Operating income for the year 2001 increased 628.9% to Ch$1,621m, from Ch$222m in the same period of 2000. The operating income increase, said the company, was due to a better product margin.
The non-operating result for Q4 2001 was Ch$-3,464m and Ch$1,236m during the Q4 2000. The non-operating result for the year 2001 was Ch$-3,890m and Ch$-1,173m in the year 2000. This increase was due to higher financial expenses.
Net loss in the Q4 2001 was Ch$200m, versus Ch$247m in the Q4 2000. Net income for the year 2001 was Ch$385m, while net income for the year 2000 was Ch$108m.
At the end of the year 2001, Unimarc had 33 stores in Chile, with a total sales area of 62,837 square meters.
